Newmont Reports 2025 Mineral Reserves of 118.2 Million Gold Ounces and 12.5 Million Tonnes of Copper

DENVER--BUSINESS WIRE--

Newmont Corporation (NYSE: NEM, ASX: NGT, PNGX: NEM) (Newmont or the Company) reported gold Mineral Reserves ("reserves") of 118.2 million attributable ounces at the end of 2025 compared to 134.1 million attributable ounces at the end of 2024, mainly driven by the divestment of assets in 2025. Newmont's portfolio includes significant reserves from other metals, including 12.5 million attributable tonnes of copper reserves and 442 million attributable ounces of silver reserves.

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Percentage of Gold Reserves by Jurisdiction

"In 2025, Newmont maintained its position of having the industry's largest gold reserve base, declaring 118 million ounces of reserves, representing decades of production life with meaningful upside," said Natascha Viljoen, Newmont's President and Chief Executive Officer. "Through the disciplined application of technical rigor in our leading exploration program, we remain focused on extending mine life, discovering new opportunities, and unlocking value across our world-class portfolio of operations and projects."

2025 Reserves & Resources Highlights

The gold industry's largest reserve base with 118.2 million attributable ounces¹
Changes since 2024 are mainly driven by divestments (8.6 million ounces), followed by depletion from mining, reclassification of the Yanacocha Sulfides project reserves to resources, and cost escalation assumptions, offset by an increased gold price assumption, resource conversion and other positive revisions at Brucejack, Tanami, Lihir, Ahafo North and Ahafo South
Gold reserves are determined based on a gold price of $2,000 per ounce following the annual pricing review, more than 20 percent below the three-year trailing average price and well below the current spot price
Newmont benefits from a premier operating asset base with gold reserve life of ten years or more at Lihir, Cadia, Tanami, Boddington, Ahafo North, Merian, Cerro Negro, Brucejack, Nevada Gold Mines (NGM), and Pueblo Viejo further enhanced by a broader portfolio and organic project pipeline
Measured & Indicated Gold Mineral Resources² of 88.1 million attributable ounces and Inferred Resources of 60.6 million attributable ounces, determined based on a gold price of $2,300 per ounce
Significant exposure to other metals including 12.5 million attributable tonnes of copper reserves, 13.1 million attributable tonnes of Measured & Indicated copper resources and 5.6 million attributable tonnes of Inferred copper resources, along with 442 million ounces of silver reserves, 508 million ounces of Measured & Indicated silver resources and 126 million ounces of Inferred silver resources
Additional exposure to other metals including lead, zinc and molybdenum

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1		Compared to 2024 reserves disclosed by gold mining companies in 2025
2		Exclusive of Mineral Reserves

Percentage of Gold Reserves by Jurisdiction

Newmont’s reserve base is a key differentiator with an operating reserve life of more than ten years at eight managed sites and two non-managed joint ventures, anchored in favorable mining jurisdictions along with significant upside potential from a robust organic project pipeline.

PROVEN & PROBABLE GOLD RESERVES

For 2025, Newmont reported 118.2 million attributable ounces of gold reserves compared to the prior year total of 134.1 million attributable ounces. Divestment of assets accounted for 8.6 million ounces of this reduction³, followed by depletion from mining of 7.2 million ounces, net negative revisions of 5.6 million ounces (primarily from Yanacocha Sulfides reclassified to resource) and cost escalation assumption impacts of 3.1 million ounces, offset by increases from price related revisions of 6.6 million ounces, as well as the addition of 2.0 million ounces from conversion of resources and other additions primarily at Brucejack (+0.7 million ounces) and Lihir (+0.5 million ounces).

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3		Assets divested in 2025 were CC&V, United States; Musselwhite, Canada; Porcupine, Canada; Éléonore, Canada; and Akyem, Ghana.

Managed Assets

Brucejack reserves increased 1.0 million ounces to 2.9 million ounces, primarily due to conversion of resources of 0.7 million, positive net revisions of 0.3 million following favorable drilling results and a favorable price impact of 0.2 million ounces net of cost escalation assumptions, offsetting depletion of 0.2 million ounces
Merian reserves increased 0.4 million ounces to 4.5 million ounces, primarily due to favorable price related revisions of 0.8 million ounces, more than offsetting negative net revisions of 0.2 million ounces and depletion of 0.2 million ounces
Lihir reserves increased 0.2 million ounces to 16.0 million ounces, primarily due to favorable price impacts of 0.8 million ounces and conversion from resources through infill drilling of 0.5 million ounces, partially offset by net negative revisions of 0.3 million ounces offsetting depletion of 0.8 million ounces
Tanami reserves increased 0.2 million ounces to 5.3 million ounces, primarily due to favorable price impacts, net of cost escalation of 0.3 million ounces, additions from net positive revisions of 0.2 million ounces and resource conversion from infill drilling of 0.1 million ounces, more than offsetting depletion of 0.4 million ounces
Ahafo North reserves increased 0.1 million ounces to 4.7 million ounces, primarily due to additions from resources through updated mine designs of 0.2 million ounces, partially offset by depletion of 0.1 million ounces
Red Chris reserves decreased 0.1 million ounces to 3.6 million ounces, primarily due to depletion of 0.1 million ounces
Cerro Negro reserves decreased 0.2 million ounces to 3.0 million ounces, primarily due to depletion of 0.2 million ounces and negative net revisions of 0.1 million ounces, partially offset by 0.1 million ounces of conversions from resources with infill drilling
Ahafo South reserves decreased 0.5 million ounces to 4.1 million ounces, primarily due to the depletion of 0.8 million ounces, partially offset by 0.2 million ounces added at the Apensu South open pit and positive price impacts of 0.1 million ounces
Boddington reserves decreased 0.6 million ounces to 10.2 million ounces, primarily due to depletion of 0.6 million ounces and negative net revisions of 0.1 million ounces, partially offset by favorable price related revisions 0.1 million ounces net of cost escalation assumptions
Cadia reserves decreased 0.6 million ounces to 13.5 million ounces, primarily due to depletion of 0.5 million ounces
Peñasquito reserves decreased 0.9 million ounces to 3.2 million ounces, primarily due to depletion of 0.8 million ounces along with negative net revisions from a block model update of 0.2 million ounces partially offset by favorable price impact of 0.1 million ounces
Yanacocha reserves decreased 4.8 million ounces to 0.5 million ounces, primarily due to the reclassification of 4.5 million ounces of reserves relating to the Yanacocha Sulfides project to resources, allowing Newmont to prioritize other opportunities at site and continue advancing closure activities in non-operating areas

Non-Managed Assets

Newmont’s 38.5 percent interest in Nevada Gold Mines represented 17.4 million attributable ounces of gold reserves at year end, compared to 17.9 million ounces at the end of 2024
Newmont's 40 percent interest in Pueblo Viejo represented 8.2 million attributable ounces of gold reserves at year end with no change from 2024

Newmont's gold grade reserve remained unchanged at 0.94 grams per tonne year over year when adjusted for the divested assets.

GOLD RESOURCES⁴⁵

At the end of 2025, Newmont reported Measured and Indicated Gold Mineral Resources of 88.1 million attributable ounces, an 11 percent decrease from the prior year total of 99.4 million attributable ounces. Inferred Gold Mineral Resources totaled 60.6 million attributable ounces, a 14 percent decrease from the prior year total of 70.6 million attributable ounces. The main driver of lower resources is 14.6 million ounces removed from assets divested in 2025⁶, together with net negative revisions, net resource conversions to reserves, and updated cost assumptions; partially offset by the resource increases from price assumption related revisions, as well as additions.

Notable Changes⁷

Cadia resources decreased by 8.5 million ounces (44 percent) to 11.0 million ounces, primarily driven by 5.7 million ounces of net negative revisions related to a geotechnical standoff from the in-pit tailings facility as well as block model updates and changes to inferred resource classifications as a consequence of an updated drill spacing study. An additional 3.0 million ounces of negative impact from higher cost expectations for future caves net of benefits from higher price assumptions
Namosi resources of 5.0 million ounces were removed from resources as Newmont further evaluates the project
Yanacocha resources increased by 4.3 million ounces, primarily driven by 4.5 million ounces reclassified from reserves from Yanacocha Sulfides, aligned with Newmont's decision to indefinitely defer the project
Ahafo South resources increased 45 percent to 7.4 million ounces, primarily driven by 1.7 million ounces of resource additions largely at Apensu underground

Newmont’s Measured and Indicated Gold Mineral Resource grade decreased to 0.58 grams per tonne compared to 0.59 grams per tonne in the prior year. Inferred Gold Mineral Resource increased to 0.9 grams per tonne compared to 0.6 grams per tonne in the prior year, largely due to the removal of inferred resources from Namosi and assets divested.

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4		Total resources presented includes Measured and Indicated resources of 88.1 million attributable gold ounces and Inferred resources of 60.6 million attributable gold ounces. See cautionary statement at the end of this release.
5		Net Conversion inclusive of ounces reclassified from reserves to resources.
6		Assets divested in 2025 were CC&V, United States; Musselwhite, Canada; Porcupine, Canada; Éléonore, Canada; and Akyem, Ghana.
7		Includes Measured and Indicated as well as Inferred resources. See detailed tables that follow.

OTHER METALS

Copper reserves decreased slightly to 12.5 million tonnes from 13.5 million tonnes in the prior year, primarily due to reclassification of the Yanacocha Sulfides project to resources. Measured and Indicated copper resources decreased to 13.1 million tonnes from 14.1 million tonnes. Inferred copper resources decreased to 5.6 million tonnes from 11.0 million tonnes driven almost entirely by the removal of Namosi.

Silver reserves decreased to 442 million ounces compared to 530 million ounces in the prior year, primarily due to the reclassification of the Yanacocha Sulfides project to resources and depletion at Peñasquito. Measured and Indicated silver resources increased to 508 million ounces from 469 million ounces in the prior year while inferred silver resources increased to 126 million ounces from 113 million ounces in the prior year; both due to the reclassification of the Yanacocha Sulfides projects.

Lead reserves decreased slightly to 0.7 million tonnes from 0.8 million tonnes primarily due to depletion. Measured and Indicated lead resources were unchanged at 0.5 million tonnes. Zinc reserves decreased to 1.5 million tonnes from 1.7 million tonnes primarily due to depletion. Measured and Indicated zinc resources increased to 1.4 million tonnes from 1.2 million tonnes.

Molybdenum reserves were unchanged at 0.2 million tonnes. Measured and Indicated molybdenum resources remained unchanged at 0.1 million tonnes.

EXPLORATION OUTLOOK

Newmont’s attributable exploration expenditure for managed operations is expected to be approximately $205 million in 2026 with 80 percent of total exploration investment dedicated to near-mine expansion programs and brownfields with the remaining 20 percent allocated to the advancement of greenfield projects.

Additionally, Newmont’s share of exploration investment for its non-managed operations is expected to be approximately $35 million, for a total consolidated exploration expense outlook of $240 million for 2026.

Newmont expects to invest the largest proportion of exploration funds in prospective targets at Merian, Cerro Negro, and Ahafo South.

UPDATED GOLD PRICE FOR MINERAL RESERVES AND MINERAL RESOURCES

As part of the annual Mineral Reserves and Mineral Resources update, Newmont assesses the metal price assumptions used for the calculation of year-end reserves and resources.

In line with market conditions, Newmont has increased its reserves gold price assumption by 18 percent to $2,000 per ounce from $1,700 per ounce in 2024; which is less than 60 percent of the 2025 average realized gold price. Newmont's updated reserves gold price is approximately 23 percent lower than the three-year trailing gold price average of $2,586 per ounce. Historically, over the last ten years (2015 - 2024), Newmont has assumed a reserve price approximately 13 percent below the three year trailing average. Consistent with Newmont's historical approach, the resources gold price has been calibrated higher than reserves to allow identification of the optimum areas to further expand the life of its assets and to target where additional drilling and study work is required at its operating mines. For 2025, mineral resources are based on a $2,300 per ounce.

Newmont's robust internal processes and proven track record of responsibly and rigorously defining reserves and resources will continue to support the development of its world-class portfolio and organic project pipeline.

GOLD RESERVE SENSITIVITY

A $100 increase in gold price would result in an approximate 5 percent increase in gold reserves while a $100 decrease in gold price would result in an approximate 2 percent decrease in gold reserves. These sensitivities assume an oil price of $75 per barrel (WTI), Australian dollar exchange rate of $0.70 and Canadian dollar exchange rate of $0.75. These sensitivities assume all other inputs remain equal, including all cost and capital assumptions, which may also have a material impact on these approximate estimates.

KEY RESERVE AND RESOURCE ASSUMPTIONS⁸
	At December 31,
	2025	2024
Gold Reserves ($/oz)	$2,000	$1,700
Gold Resources ($/oz)	$2,300	$2,000
Copper Reserves ($/lb)	$3.75	$3.50
Copper Resources ($/lb)	$4.25	$4.00
Silver Reserves ($/oz)	$25.00	$20.00
Silver Resources ($/oz)	$28.00	$23.00
Lead Reserves ($/lb)	$0.90	$0.90
Lead Resources ($/lb)	$1.00	$1.00
Zinc Reserves ($/lb)	$1.20	$1.20
Zinc Resources ($/lb)	$1.30	$1.30
Molybdenum Reserves ($/lb)	$13.00	$13.00
Molybdenum Resources ($/lb)	$16.00	$16.00
Australian Dollar (A$:US$)	$0.70	$0.70
Canadian Dollar (C$:US$)	$0.75	$0.75
West Texas Intermediate ($/bbl)	$75.00	$75.00

For additional details on Newmont’s reported gold, copper, silver, lead, zinc, and molybdenum Mineral Reserves and Mineral Resources, please refer to the tables at the end of this release.

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8		For 2025 and 2024, Newmont reserves and resources were estimated using the price assumptions noted, except for certain sites as detailed in the footnotes of the reserves and resources tables below.

RESERVE AND RESOURCE TABLES

Proven and probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which Newmont determined economic feasibility. The reference point for mineral reserves is the point of delivery to the process plant. Metal price assumptions, adjusted for Newmont's exchange rate assumption, are based on considering such factors as market forecasts, industry consensus and management estimates. The price sensitivity of reserves depends upon several factors including grade, metallurgical recovery, operating cost, waste-to-ore ratio and ore type. Metallurgical recovery rates vary depending on the metallurgical properties of each deposit and the production process used. The reserve tables below list the average estimated in-situ metallurgical recovery rate for each deposit, which takes into account the relevant processing methods. The cut-off grade, or lowest grade of mineralization considered economic to process, varies between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the ore to gold, copper, silver, lead, zinc or molybdenum extraction and type of milling or leaching facilities available. Reserve estimates may have non-material differences in comparison to our joint venture partners due to differences in classification and rounding methodology.

The proven and probable reserve figures presented herein are estimates based on information available at the time of calculation. No assurance can be given that the indicated levels of recovery of gold, copper, silver, lead, zinc and molybdenum will be realized. Ounces of gold or silver or tonnes of copper, lead, zinc or molybdenum included in the proven and probable reserves are those contained prior to losses during metallurgical treatment. Reserve estimates may require revision based on actual production. Market fluctuations in the price of gold, copper, silver, lead, zinc and molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could render certain proven and probable reserves containing higher cost reserves uneconomic to exploit and might result in a reduction of reserves.

The measured, indicated, and inferred resource figures presented herein are estimates based on information available at the time of calculation and are exclusive of reserves. A “mineral resource” is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade, or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling. The reference point for mineral resources is in situ. Mineral resources are sub-divided, in order of increasing geological confidence, into inferred, indicated and measured categories. Ounces of gold and silver or tonnes of copper, zinc, lead and molybdenum included in the measured, indicated and inferred resources are those contained prior to losses during metallurgical treatment. The terms "measured resource," "indicated resource," and "inferred resource" mean that part of a mineral resource for which quantity and grade or quality are estimated on the basis of geological evidence and sampling that is considered to be comprehensive, adequate, or limited, respectively. Market fluctuations in the price of gold, silver, copper, zinc, lead and molybdenum as well as increased production costs or reduced metallurgical recovery rates, could change future estimates of resources.

Newmont publishes reserves annually, and will recalculate reserves at December 31, 2026, taking into account metal prices, changes, if any, to future production and capital costs, divestments and conversion to reserves, as well as any acquisitions and additions during 2026.

Please refer to the reserves and resources cautionary statement at the end of the release.

Gold Reserves⁽¹⁾
December 31, 2025														December 31, 2024
			Proven Reserves			Probable Reserves			Proven and Probable Reserves					Proven and Probable Reserves
Deposits/Districts	Newmont Share		Tonnage⁽²⁾ (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Tonnage⁽²⁾ (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Tonnage⁽²⁾ (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Metallurgical Recovery⁽³⁾		Tonnage⁽²⁾ (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)
Lihir Open Pits	100	%	—	—	—	147,900	2.55	12,100	147,900	2.55	12,100	76	%	125,900	2.86	11,600
Lihir Stockpiles⁽⁴⁾	100	%	—	—	—	72,300	1.65	3,800	72,300	1.65	3,800	76	%	77,100	1.68	4,200
Total Lihir, Papua New Guinea⁽⁵⁾	100	%	—	—	—	220,200	2.26	16,000	220,200	2.26	16,000	76	%	203,000	2.41	15,800
Wafi-Golpu, Papua New Guinea⁽⁶⁾⁽⁷⁾	50	%	—	—	—	194,500	0.82	5,100	194,500	0.82	5,100	68	%	194,500	0.82	5,100
Cadia, Australia⁽⁸⁾	100	%	—	—	—	1,007,600	0.42	13,500	1,007,600	0.42	13,500	81	%	1,051,800	0.42	14,100
Tanami, Australia	100	%	10,100	4.88	1,600	22,700	5.10	3,700	32,800	5.03	5,300	98	%	29,900	5.27	5,100
Boddington Open Pit	100	%	265,300	0.62	5,300	216,300	0.58	4,100	481,700	0.60	9,300	85	%	495,700	0.62	9,900
Boddington Stockpiles⁽⁴⁾	100	%	5,600	0.56	100	57,800	0.43	800	63,400	0.44	900	84	%	64,100	0.43	900
Total Boddington, Australia⁽⁹⁾	100	%	271,000	0.61	5,400	274,100	0.55	4,900	545,100	0.58	10,200	85	%	559,800	0.60	10,800
Ahafo South Open Pit⁽¹⁰⁾	100	%	2,500	1.16	100	40,900	1.48	1,900	43,400	1.46	2,000	88	%	42,000	1.63	2,200
Ahafo South Underground⁽¹¹⁾	100	%	9,400	2.51	800	10,000	2.23	700	19,400	2.37	1,500	94	%	21,300	2.54	1,700
Ahafo South Stockpiles^(4)(12)	100	%	18,500	0.94	600	—	—	—	18,500	0.94	600	91	%	21,700	0.97	700
Total Ahafo South, Ghana	100	%	30,400	1.44	1,400	50,900	1.63	2,700	81,300	1.56	4,100	91	%	85,000	1.69	4,600
Ahafo North, Ghana ⁽¹³⁾	100	%	—	—	—	65,500	2.23	4,700	65,500	2.23	4,700	89	%	62,000	2.32	4,600
Total Ahafo Complex, Ghana	100	%	30,400	1.44	1,400	116,500	1.97	7,400	146,900	1.86	8,800	90	%	147,000	1.96	9,200
Merian, Suriname	75	%	24,800	1.21	1,000	104,600	1.06	3,600	129,400	1.09	4,500	93	%	110,700	1.16	4,100
Cerro Negro, Argentina	100	%	2,200	11.20	800	6,800	10.38	2,300	9,000	10.58	3,000	94	%	9,300	10.82	3,200
Pueblo Viejo Open Pit	40	%	35,800	2.22	2,600	51,300	1.95	3,200	87,100	2.06	5,800	81	%	81,700	2.13	5,600
Pueblo Viejo Stockpiles⁽⁴⁾	40	%	—	—	—	36,900	2.04	2,400	36,900	2.04	2,400	81	%	38,800	2.07	2,600
Total Pueblo Viejo, Dominican Republic^(7)(14)	40	%	35,800	2.22	2,600	88,200	1.99	5,600	123,900	2.06	8,200	81	%	120,500	2.11	8,200
NuevaUnión, Chile^(7)(15)	50	%	—	—	—	341,100	0.47	5,100	341,100	0.47	5,100	66	%	341,100	0.47	5,100
Norte Abierto, Chile^(7)(16)	50	%	—	—	—	521,100	0.65	10,800	521,100	0.65	10,800	86	%	598,800	0.60	11,600
Yanacocha, Peru	100	%	18,800	0.81	500	—	—	—	18,800	0.81	500	71	%	126,400	1.31	5,300
Peñasquito Open Pits	100	%	79,500	0.54	1,400	114,800	0.44	1,600	194,300	0.48	3,000	62	%	224,700	0.52	3,800
Peñasquito Stockpiles⁽⁴⁾	100	%	4,900	0.44	100	21,800	0.21	100	26,700	0.25	200	45	%	32,000	0.26	300
Total Peñasquito, Mexico	100	%	84,400	0.53	1,400	136,600	0.40	1,800	221,000	0.45	3,200	61	%	256,600	0.49	4,100
Red Chris, Canada⁽¹⁷⁾	70	%	2,600	0.32	—	178,900	0.63	3,600	181,500	0.62	3,600	69	%	186,400	0.62	3,700
Brucejack, Canada	100	%	—	—	—	13,500	6.65	2,900	13,500	6.65	2,900	96	%	8,600	6.95	1,900
NGM Open Pit⁽¹⁸⁾	38.5	%	—	—	—	131,100	1.02	4,300	131,100	1.02	4,300	75	%	124,200	1.16	4,600
NGM Stockpiles^(4)(19)	38.5	%	6,800	1.29	300	20,800	2.35	1,600	27,600	2.09	1,800	67	%	29,200	2.08	2,000
NGM Underground⁽²⁰⁾	38.5	%	4,200	11.67	1,600	37,900	7.93	9,700	42,100	8.30	11,200	84	%	43,700	8.06	11,300
Total NGM, United States⁽²¹⁾	38.5	%	10,900	5.24	1,800	189,800	2.54	15,500	200,700	2.69	17,400	80	%	197,100	2.82	17,900
Divested⁽²²⁾
CC&V Open Pit														115,600	0.43	1,600
CC&V Leach Pads⁽²³⁾														34,600	0.73	800
Total CC&V, United States														150,200	0.50	2,400
Musselwhite, Canada														7,400	6.43	1,500
Porcupine Underground														4,400	6.46	900
Porcupine Open Pit														30,600	1.46	1,500
Total Porcupine, Canada														34,900	2.09	2,300
Éléonore, Canada														10,100	5.05	1,600
Akyem Open Pit														18,200	1.54	900
Akyem Stockpiles⁽⁴⁾														700	0.72	—
Total Akyem, Ghana														19,000	1.51	900
Total Gold			490,900	1.04	16,500	3,416,100	0.93	101,800	3,907,000	0.94	118,200	81	%	4,363,000	0.96	134,100

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(1)		At December 31, 2025 and 2024, gold reserves at sites for which Newmont is the operator were estimated at a gold price of $2,000 and $1,700 per ounce, respectively, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.
(2)		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to the nearest 100,000.
(3)		Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 100,000.
(4)		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
(5)		Cut-off grade utilized in 2025 reserves not less than 1.00 gram per tonne.
(6)		Project is currently undeveloped. Gold reserves at December 31, 2025 were estimated at a gold price of $1,200 per ounce.
(7)		Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(8)		The net smelter return value utilized in 2025 reserves not less than $24.62 per tonne.
(9)		The net smelter return value utilized in 2025 reserves not less than $18.24 per tonne.
(10)		Cut-off grade utilized in 2025 reserves not less than 0.49 gram per tonne.
(11)		Cut-off grade utilized in 2025 reserves not less than 1.80 gram per tonne.
(12)		Cut-off grade utilized in 2025 reserves not less than 0.48 gram per tonne.
(13)		Cut-off grade utilized in 2025 reserves not less than 0.60 gram per tonne.
(14)		The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Gold reserves at December 31, 2025 were estimated at a gold price of $1,500 per ounce. Gold reserves at December 31, 2025 and 2024 were provided by Barrick, the operator of Pueblo Viejo.
(15)		Project is currently undeveloped. Gold reserves at December 31, 2025 were estimated at a gold price of $1,300 per ounce. Gold reserves at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.
(16)		Project is currently undeveloped. Gold reserves at December 31, 2025 were estimated at a gold price of $1,700 per ounce. Gold reserves at December 31, 2025 and 2024 were provided by the Norte Abierto joint venture.
(17)		Gold reserves related to the underground mine at December 31, 2025 were estimated at a gold price of $1,300 per ounce.
(18)		Cut-off grade utilized in 2025 reserves not less than 0.15 gram per tonne.
(19)		Cut-off grade utilized in 2025 reserves not less than 0.44 gram per tonne.
(20)		Cut-off grade utilized in 2025 reserves not less than 3.34 gram per tonne.
(21)		Gold reserves at December 31, 2025 were estimated at a gold price of $1,500 per ounce. Gold reserves at December 31, 2025 and 2024 were provided by Barrick, the operator of the NGM joint venture.
(22)		Sites were classified as held for sale as of December 31, 2024 and were divested as of December 31, 2025. Refer to Note 3 of the Consolidated Financial Statements for further information on the Company's divestitures.
(23)		Leach pad material is the material on leach pads at the end of the year from which gold remains to be recovered. In-process reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.

Gold Resources at December 31, 2025 ⁽¹⁾⁽²⁾
			Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
Deposits/Districts	Newmont Share		Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾
Lihir, Papua New Guinea	100	%	—	—	—	37,500	1.99	2,400	37,500	1.99	2,400	239,800	2.4	18,300	75	%
Wafi-Golpu Open Pit⁽⁴⁾	50	%	—	—	—	53,600	1.66	2,900	53,600	1.66	2,900	15,500	1.3	600	65	%
Wafi-Golpu Underground⁽⁵⁾	50	%	—	—	—	140,800	0.45	2,000	140,800	0.45	2,000	91,900	0.6	1,900	68	%
Total Wafi-Golpu, Papua New Guinea⁽⁶⁾	50	%	—	—	—	194,500	0.78	4,900	194,500	0.78	4,900	107,300	0.7	2,600	67	%
Cadia Underground	100	%	—	—	—	1,009,300	0.29	9,400	1,009,300	0.29	9,400	163,900	0.2	1,300	81	%
Cadia Stockpiles	100	%	28,500	0.30	300	—	—	—	28,500	0.30	300	—	—	—	64	%
Total Cadia, Australia	100	%	28,500	0.30	300	1,009,300	0.29	9,400	1,037,800	0.29	9,700	163,900	0.2	1,300	81	%
Tanami Open Pit	100	%	10,000	1.62	500	27,300	1.42	1,200	37,200	1.47	1,800	5,500	1.1	200	90	%
Tanami Underground	100	%	2,600	3.35	300	6,800	3.77	800	9,400	3.65	1,100	17,600	4.4	2,500	96	%
Total Tanami, Australia	100	%	12,500	1.98	800	34,100	1.89	2,100	46,600	1.91	2,900	23,100	3.6	2,700	94	%
Boddington, Australia	100	%	97,300	0.52	1,600	168,200	0.49	2,600	265,500	0.50	4,300	3,800	0.5	100	85	%
Ahafo South Open Pit	100	%	1,000	1.13	—	5,000	0.72	100	6,100	0.79	200	3,200	1.1	100	87	%
Ahafo South Underground	100	%	1,200	—	100	41,400	3.84	5,100	42,500	3.84	5,200	19,500	2.9	1,800	91	%
Total Ahafo South, Ghana	100	%	2,200	2.49	200	46,400	3.51	5,200	48,600	3.46	5,400	22,700	2.7	2,000	91	%
Ahafo North, Ghana	100	%	6,600	1.44	300	36,300	1.74	2,000	42,900	1.69	2,300	18,100	1.6	900	90	%
Total Ahafo Complex, Ghana	100	%	8,700	1.70	500	82,700	2.73	7,300	91,400	2.63	7,700	40,900	2.2	2,900	91	%
Merian, Suriname	75	%	5,200	0.96	200	49,600	1.05	1,700	54,800	1.05	1,800	79,700	0.8	2,100	90	%
Cerro Negro, Argentina	100	%	1,300	3.73	200	1,900	5.42	300	3,200	4.73	500	7,500	5.1	1,200	95	%
Pueblo Viejo, Dominican Republic⁽⁶⁾⁽⁷⁾	40	%	7,300	1.31	300	33,100	1.37	1,500	40,300	1.36	1,800	6,300	1.5	300	81	%
NuevaUnión, Chile⁽⁶⁾⁽⁸⁾	50	%	4,800	0.47	100	118,300	0.59	2,300	123,100	0.59	2,300	239,800	0.4	3,100	68	%
Norte Abierto, Chile⁽⁶⁾⁽⁹⁾	50	%	77,700	0.61	1,500	525,500	0.51	8,600	603,200	0.52	10,100	381,100	0.4	5,300	78	%
Conga, Peru^(6)(10)	100	%	—	—	—	693,800	0.65	14,600	693,800	0.65	14,600	230,500	0.4	2,900	75	%
Yanacocha Open Pit	100	%	12,800	0.41	200	99,100	0.70	2,300	111,900	0.67	2,400	360,300	0.5	6,200	58	%
Yanacocha Underground	100	%	3,800	7.28	900	15,200	5.13	2,500	19,000	5.56	3,400	3,600	4.9	600	97	%
Total Yanacocha, Peru⁽¹¹⁾	100	%	16,600	1.98	1,100	114,300	1.29	4,700	130,900	1.38	5,800	363,900	0.6	6,700	71	%
Peñasquito, Mexico	100	%	52,800	0.30	500	172,100	0.21	1,100	224,900	0.23	1,600	9,200	0.2	100	56	%
La Bikina, Mexico⁽⁶⁾	50	%	—	—	—	19,900	0.37	200	19,900	0.37	200	1,600	0.2	—	50	%
Galore Creek, Canada^(6)(12)	50	%	212,800	0.29	2,000	385,600	0.22	2,700	598,400	0.25	4,700	118,900	0.2	700	75	%
Red Chris, Canada⁽¹³⁾	70	%	—	—	—	334,800	0.34	3,700	334,800	0.34	3,700	62,000	0.3	700	55	%
Brucejack, Canada	100	%	—	—	—	4,300	4.13	600	4,300	4.13	600	14,500	5.3	2,500	96	%
NGM Open Pit	38.5	%	2,900	1.04	100	178,000	0.64	3,600	180,900	0.64	3,700	63,200	0.8	1,500	75	%
NGM Underground	38.5	%	1,400	8.83	400	21,900	6.34	4,500	23,400	6.50	4,900	25,600	6.9	5,700	82	%
Total NGM, Nevada⁽¹⁴⁾	38.5	%	4,300	3.61	500	199,900	1.26	8,100	204,300	1.31	8,600	88,900	2.5	7,300	80	%
Total Gold			529,900	0.56	9,500	4,179,300	0.59	78,700	4,709,300	0.58	88,100	2,182,600	0.9	60,600	78	%

Gold Resources ⁽¹⁾⁽²⁾ - December 31, 2024
			Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
Deposits/Districts	Newmont Share		Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾
Namosi, Fiji	73.24	%	—	—	—	105,500	0.22	700	105,500	0.22	700	1,346,900	0.1	4,300	72	%
Lihir, Papua New Guinea	100	%	—	—	—	44,600	1.97	2,800	44,600	1.97	2,800	227,400	2.4	17,600	75	%
Wafi-Golpu Open Pit	50	%	—	—	—	53,600	1.66	2,900	53,600	1.66	2,900	15,500	1.3	600	65	%
Wafi-Golpu Underground	50	%	—	—	—	140,800	0.45	2,000	140,800	0.45	2,000	91,900	0.6	1,900	68	%
Total Wafi-Golpu, Papua New Guinea⁽⁶⁾	50	%	—	—	—	194,500	0.78	4,900	194,500	0.78	4,900	107,300	0.7	2,600	67	%
Cadia Underground	100	%	—	—	—	1,245,100	0.36	14,200	1,245,100	0.36	14,200	549,400	0.3	4,800	81	%
Cadia Open Pit	100	%	30,800	0.30	300	—	—	—	30,800	0.30	300	11,000	0.7	200	65	%
Total Cadia, Australia	100	%	30,800	0.30	300	1,245,100	0.36	14,200	1,275,900	0.35	14,500	560,400	0.3	5,000	81	%
Tanami Open Pit	100	%	9,700	1.65	500	26,500	1.45	1,200	36,200	1.50	1,700	5,300	1.1	200	90	%
Tanami Underground	100	%	2,800	3.22	300	6,600	3.80	800	9,300	3.63	1,100	17,200	4.4	2,400	97	%
Total Tanami, Australia	100	%	12,500	1.99	800	33,000	1.92	2,000	45,500	1.94	2,800	22,500	3.6	2,600	94	%
Boddington, Australia	100	%	90,600	0.55	1,600	154,100	0.53	2,600	244,700	0.54	4,200	3,500	0.6	100	84	%
Ahafo South Open Pit	100	%	3,900	1.13	100	6,500	0.83	200	10,400	0.95	300	3,500	1.2	100	85	%
Ahafo South Underground	100	%	700	3.85	100	27,100	3.96	3,400	27,800	3.95	3,500	11,500	3.1	1,200	91	%
Total Ahafo South, Ghana	100	%	4,700	1.56	200	33,500	3.35	3,600	38,200	3.13	3,800	15,000	2.7	1,300	91	%
Ahafo North, Ghana	100	%	6,900	1.41	300	28,300	1.78	1,600	35,200	1.71	1,900	13,700	1.6	700	90	%
Total Ahafo Complex, Ghana	100	%	11,600	1.47	500	61,800	2.64	5,200	73,400	2.45	5,700	28,700	2.2	2,000	91	%
Merian, Suriname	75	%	5,800	1.03	200	58,600	1.08	2,000	64,500	1.08	2,200	70,000	0.9	2,000	90	%
Cerro Negro, Argentina	100	%	1,300	3.77	200	1,900	5.65	300	3,200	4.88	500	7,600	4.8	1,200	94	%
Pueblo Viejo, Dominican Republic⁽⁶⁾⁽⁷⁾	40	%	8,200	1.39	400	38,200	1.44	1,800	46,400	1.43	2,100	5,000	1.6	300	88	%
NuevaUnión, Chile⁽⁶⁾⁽⁸⁾	50	%	4,800	0.47	100	118,300	0.59	2,300	123,100	0.59	2,300	239,800	0.4	3,100	68	%
Norte Abierto, Chile⁽⁶⁾⁽⁹⁾	50	%	77,200	0.61	1,500	596,900	0.49	9,300	674,200	0.50	10,800	369,600	0.4	4,400	76	%
Conga, Peru⁽⁶⁾	100	%	—	—	—	693,800	0.65	14,600	693,800	0.65	14,600	230,500	0.4	2,900	75	%
Yanacocha Open Pit	100	%	16,600	0.41	200	109,200	0.40	1,400	125,700	0.40	1,600	287,200	0.6	5,100	66	%
Yanacocha Underground	100	%	500	4.07	100	6,200	4.70	900	6,700	4.65	1,000	3,400	5.0	500	97	%
Total Yanacocha, Peru	100	%	17,100	0.52	300	115,400	0.63	2,300	132,500	0.62	2,600	290,700	0.6	5,600	72	%
Peñasquito, Mexico	100	%	48,200	0.30	500	163,100	0.22	1,100	211,300	0.24	1,600	21,100	0.2	100	57	%
La Bikina, Mexico⁽⁶⁾	50	%	—	—	—	19,900	0.37	200	19,900	0.37	200	1,600	0.2	—	50	%
Galore Creek, Canada^(6)(12)	50	%	212,800	0.29	2,000	385,600	0.22	2,700	598,400	0.25	4,700	118,900	0.2	700	75	%
Red Chris, Canada	70	%	—	—	—	335,100	0.34	3,700	335,100	0.34	3,700	62,100	0.3	700	55	%
Brucejack, Canada	100	%	—	—	—	4,300	4.68	600	4,300	4.68	600	16,600	5.8	3,100	96	%
NGM Open Pit	38.5	%	3,700	1.24	100	158,500	0.74	3,800	162,200	0.76	4,000	56,700	0.9	1,600	72	%
NGM Underground	38.5	%	200	23.55	200	21,500	6.34	4,400	21,800	6.52	4,600	25,100	6.4	5,200	87	%
Total NGM, United States⁽¹⁴⁾	38.5	%	3,900	2.51	300	180,000	1.41	8,200	183,900	1.44	8,500	81,800	2.6	6,700	82	%
Held for sale⁽¹⁵⁾
CC&V, United States	100	%	20,300	0.53	300	26,500	0.48	400	46,700	0.50	800	71,400	0.4	900	51	%
Musselwhite, Canada	100	%	1,500	4.21	200	2,300	4.10	300	3,800	4.15	500	1,900	5.0	300	96	%
Porcupine Underground	100	%	—	—	—	1,000	7.70	300	1,100	7.59	300	1,900	7.8	500	92	%
Porcupine Open Pit	100	%	—	—	—	75,600	1.51	3,700	75,600	1.51	3,700	65,900	1.4	2,900	92	%
Total Porcupine, Canada	100	%	—	—	—	76,600	1.59	3,900	76,600	1.59	3,900	67,900	1.5	3,400	92	%
Éléonore, Canada	100	%	400	4.94	100	2,900	4.11	400	3,300	4.21	400	2,400	4.6	400	92	%
Coffee, Canada⁽⁶⁾	100	%	900	2.14	100	49,300	1.26	2,000	50,200	1.28	2,100	6,700	1.0	200	81	%
Akyem, Ghana	100	%	800	0.73	—	9,700	3.83	1,200	10,600	3.58	1,200	5,500	3.0	500	92	%
Total Gold			548,800	0.53	9,300	4,717,000	0.59	90,100	5,265,900	0.59	99,400	3,967,800	0.6	70,600	78	%

____________________________
(1)		Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.
(2)		At December 31, 2025 and 2024, gold resources at sites for which Newmont is the operator were estimated at a gold price of $2,300 and $2,000 per ounce, respectively, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000.
(3)		Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 100,000.
(4)		Project is currently undeveloped. Gold resources at December 31, 2025 were estimated at a gold price of $1,400 per ounce.
(5)		Project is currently undeveloped. Gold resources at December 31, 2025 were estimated at a gold price of $1,300 per ounce.
(6)		Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(7)		The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Gold resources at December 31, 2025 were estimated at a gold price of $2,000 per ounce. Gold resources at December 31, 2025 and 2024 were provided by Barrick, the operator of Pueblo Viejo.
(8)		Project is currently undeveloped. Gold resources at December 31, 2025 were estimated at a gold price of $1,300 per ounce. Gold resources at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.
(9)		Project is currently undeveloped. Gold resources at December 31, 2025 were estimated at a gold price of $2,000 per ounce. Gold resources at December 31, 2025 and 2024 were provided by the Norte Abierto joint venture.
(10)		Gold resources at December 31, 2025 were estimated at a gold price of $1,400 per ounce.
(11)		Gold resources related to the Yanacocha Sulfides project at December 31, 2025 were estimated at a gold price of $1,400 per ounce.
(12)		Project is currently undeveloped. Resource estimates provided by Teck Resources, the Galore Creek joint venture partner.
(13)		Gold resources related to the underground mine at December 31, 2025 were estimated at a gold price of $1,400 per ounce.
(14)		Gold resources at December 31, 2025 were estimated at a gold price of $2,000 per ounce. Gold resources at December 31, 2025 and 2024 were provided by Barrick, the operator of the NGM joint venture.
(15)		Sites were classified as held for sale as of December 31, 2024 and were divested as of December 31, 2025. Refer to Note 3 of the Consolidated Financial Statements for further information on the Company's divestitures.

Copper Reserves ⁽¹⁾
December 31, 2025																	December 31, 2024
			Proven Reserves				Probable Reserves				Proven and Probable Reserves						Proven and Probable Reserves
Deposits/Districts	Newmont Share		Tonnage⁽²⁾ (000 tonnes)	Grade (Cu %)		Tonnes⁽³⁾ (000)	Tonnage⁽²⁾ (000 tonnes)	Grade (Cu %)		Tonnes⁽³⁾ (000)	Tonnage⁽²⁾ (000 tonnes)	Grade (Cu %)		Tonnes⁽³⁾ (000)	Metallurgical Recovery⁽³⁾		Tonnage⁽²⁾ (000 tonnes)	Grade (Cu %)		Tonnes⁽³⁾ (000)
Wafi-Golpu, Papua New Guinea⁽⁴⁾⁽⁵⁾	50	%	—	—	%	—	194,500	1.20	%	2,300	194,500	1.20	%	2,300	95	%	194,500	1.20	%	2,300
Cadia, Australia⁽⁶⁾	100	%	—	—	%	—	1,007,600	0.29	%	2,900	1,007,600	0.29	%	2,900	87	%	1,051,800	0.29	%	3,100
Boddington, Australia⁽⁷⁾	100	%	271,000	0.09	%	200	274,100	0.10	%	300	545,100	0.09	%	500	81	%	559,800	0.09	%	500
NuevaUnión, Chile⁽⁵⁾⁽⁸⁾	50	%	—	—	%	—	1,118,000	0.40	%	4,400	1,118,000	0.40	%	4,400	88	%	1,118,000	0.40	%	4,400
Norte Abierto, Chile⁽⁵⁾⁽⁹⁾	50	%	—	—	%	—	521,100	0.24	%	1,200	521,100	0.24	%	1,200	79	%	598,800	0.22	%	1,300
Yanacocha, Peru	100	%	—	—	%	—	—	—	%	—	—	—	%	—	—	%	111,100	0.63	%	700
Red Chris, Canada⁽¹⁰⁾	70	%	2,600	0.41	%	—	178,900	0.52	%	900	181,500	0.52	%	900	84	%	186,400	0.52	%	1,000
NGM, United States⁽¹¹⁾	38.5	%	3,700	0.15	%	—	76,500	0.18	%	100	80,200	0.18	%	100	68	%	75,400	0.18	%	100
Total Copper			277,300	0.09	%	200	3,370,700	0.36	%	12,300	3,648,000	0.34	%	12,500	87	%	3,895,800	0.35	%	13,500

____________________________
(1)		At December 31, 2025 and 2024, copper reserves at sites for which Newmont is the operator were estimated at a copper price of $3.75 and $3.50 per pound, respectively, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.
(2)		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3)		Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)		Project is currently undeveloped. Copper reserves at December 31, 2025 were estimated at a copper price of $3.00 per pound.
(5)		Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(6)		The net smelter return value utilized in 2025 reserves not less than $24.62 per tonne.
(7)		The net smelter return value utilized in 2025 reserves not less than $18.24 per tonne.
(8)		Project is currently undeveloped. Copper reserves at December 31, 2025 were estimated at a copper price of $3.00 per pound. Copper reserves at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.
(9)		Project is currently undeveloped. Copper reserves at December 31, 2025 were estimated at a copper price of $3.50. Copper reserves at December 31, 2025 and 2024 were provided by the Norte Abierto joint venture.
(10)		Copper reserves related to the underground mine at December 31, 2025 were estimated at a copper price of $3.00 per pound.
(11)		Copper cut-off grade varies with gold and silver credits. Copper reserves at December 31, 2025 were estimated at a copper price of $3.25 per ounce. Copper reserves at December 31, 2025 and 2024 were provided by Barrick, the operator of the NGM joint venture.

Copper Resources ⁽¹⁾⁽²⁾ - December 31, 2025
			Measured Resource				Indicated Resource				Measured and Indicated Resource				Inferred Resource
Deposits/Districts	Newmont Share		Tonnage (000 tonnes)	Grade (Cu%)		Tonnes ⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Cu%)		Tonnes ⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Cu%)		Tonnes ⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Cu%)		Tonnes ⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾
Wafi-Golpu, Papua New Guinea⁽⁴⁾⁽⁵⁾	50	%	—	—	%	—	140,800	0.73	%	1,000	140,800	0.73	%	1,000	91,900	0.7	%	600	95	%
Cadia, Australia	100	%	28,500	0.13	%	—	1,009,300	0.25	%	2,600	1,037,800	0.25	%	2,600	163,900	0.2	%	300	87	%
Boddington, Australia	100	%	97,300	0.12	%	100	168,200	0.11	%	200	265,500	0.11	%	300	3,800	0.1	%	—	82	%
NuevaUnión, Chile⁽⁴⁾⁽⁶⁾	50	%	164,300	0.19	%	300	349,900	0.34	%	1,200	514,100	0.30	%	1,500	602,200	0.4	%	2,300	89	%
Norte Abierto, Chile⁽⁴⁾⁽⁷⁾	50	%	58,000	0.23	%	100	479,900	0.20	%	900	537,900	0.20	%	1,100	373,300	0.2	%	800	86	%
Conga, Peru⁽⁴⁾⁽⁸⁾	100	%	—	—	%	—	693,800	0.26	%	1,800	693,800	0.26	%	1,800	230,500	0.2	%	400	84	%
Yanacocha, Peru⁽⁹⁾	100	%	3,700	0.29	%	—	114,100	0.61	%	700	117,800	0.60	%	700	134,900	0.4	%	500	83	%
Galore Creek, Canada^(4)(10)	50	%	212,800	0.44	%	900	385,600	0.47	%	1,800	598,400	0.46	%	2,800	118,900	0.3	%	300	93	%
Red Chris, Canada⁽¹¹⁾	70	%	—	—	%	—	334,800	0.34	%	1,100	334,800	0.34	%	1,100	62,000	0.4	%	200	81	%
NGM, United States⁽¹²⁾	38.5	%	—	—	%	—	130,600	0.16	%	200	130,600	0.16	%	200	12,100	0.1	%	—	69	%
Total Copper			564,600	0.27	%	1,500	3,806,800	0.30	%	11,600	4,371,500	0.30	%	13,100	1,793,400	0.3	%	5,600	88	%

Copper Resources at December 31, 2024⁽¹⁾⁽²⁾
			Measured Resources				Indicated Resources				Measured and Indicated Resources				Inferred Resources
Deposits/Districts	Newmont Share		Tonnage (000 tonnes)	Grade (Cu%)		Tonnes ⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Cu%)		Tonnes ⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Cu%)		Tonnoes ⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Cu%)		Tonnes ⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾
Namosi Open Pit	73.24	%	—	—	%	—	105,500	0.61	%	600	105,500	0.61	%	600	1,346,900	0.3	%	4,300	84	%
Namosi Underground	73.24	%	—	—	%	—	—	—	%	—	—	—	%	—	209,900	0.4	%	900	92	%
Total Namosi, Fiji⁽⁴⁾	73.24	%	—	—	%	—	105,500	0.61	%	600	105,500	0.61	%	600	1,556,800	0.3	%	5,200	85	%
Wafi-Golpu, Papua New Guinea⁽⁴⁾	50	%	—	—	%	—	140,800	0.73	%	1,000	140,800	0.73	%	1,000	91,900	0.7	%	600	95	%
Cadia, Australia	100	%	30,800	0.13	%	—	1,245,100	0.25	%	3,200	1,275,900	0.25	%	3,200	560,400	0.2	%	1,000	86	%
Boddington, Australia	100	%	90,600	0.12	%	100	154,100	0.11	%	200	244,700	0.12	%	300	3,500	0.1	%	—	83	%
NuevaUnión, Chile⁽⁴⁾⁽⁶⁾	50	%	164,300	0.19	%	300	349,900	0.34	%	1,200	514,100	0.30	%	1,500	602,200	0.4	%	2,300	89	%
Norte Abierto, Chile⁽⁴⁾⁽⁷⁾	50	%	57,600	0.24	%	100	551,300	0.19	%	1,100	608,900	0.20	%	1,200	361,800	0.2	%	700	90	%
Conga, Peru⁽⁴⁾	100	%	—	—	%	—	693,800	0.26	%	1,800	693,800	0.26	%	1,800	230,500	0.2	%	400	84	%
Yanacocha, Peru	100	%	1,500	1.02	%	—	99,800	0.36	%	400	101,300	0.37	%	400	39,700	0.4	%	100	81	%
Galore Creek, Canada^(4)(10)	50	%	212,800	0.44	%	900	385,600	0.47	%	1,800	598,400	0.46	%	2,800	118,900	0.3	%	300	93	%
Red Chris, Canada	70	%	—	—	%	—	335,100	0.34	%	1,100	335,100	0.34	%	1,100	62,100	0.4	%	200	81	%
NGM, United States⁽¹²⁾	38.5	%	—	—	%	—	113,700	0.17	%	200	113,700	0.17	%	200	11,100	0.2	%	—	67	%
Total Copper			557,600	0.28	%	1,600	4,174,600	0.30	%	12,600	4,732,200	0.30	%	14,100	3,638,800	0.3	%	11,000	87	%

____________________________
(1)		Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.
(2)		At December 31, 2025 and 2024, copper resources at sites in which Newmont is the operator were estimated at a copper price of $4.25 and $4.00 per pound, respectively, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000.
(3)		Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)		Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(5)		Project is currently undeveloped. Copper resources related to the open pit mine at December 31, 2025 were estimated at a copper price of $3.40 per pound.
(6)		Project is currently undeveloped. Copper resources at December 31, 2025 were estimated at a copper price of $3.00 per pound. Copper resources at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.
(7)		Project is currently undeveloped. Copper resources at December 31, 2025 were estimated at a copper price of $4.00 per pound. Copper resources at December 31, 2025 and 2024 were provided by the Norte Abierto joint venture.
(8)		Copper resources at December 31, 2025 were estimated at a copper price of $3.50 per pound.
(9)		Copper resources related to the Yanacocha Sulfides project at December 31, 2025 were estimated at a copper price of $3.25 per pound.
(10)		Project is currently undeveloped. Resource estimates provided by Teck Resources.
(11)		Copper resources related to the underground mine at December 31, 2025 were estimated at a copper price of $3.40 per pound.
(12)		Copper resources at December 31, 2025 were estimated at a copper price of $4.50 per pound. Copper resources at December 31, 2025 and 2024 were provided by Barrick, the operator of the NGM joint venture.

Silver Reserves ⁽¹⁾
December 31, 2025														December 31, 2024
			Proven Reserves			Probable Reserves			Proven and Probable Reserves					Proven and Probable Reserves
Deposits/Districts	Newmont Share		Tonnage⁽²⁾ (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Tonnage⁽²⁾ (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Tonnage⁽²⁾ (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾		Tonnage⁽²⁾ (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾ (000)
Cadia, Australia⁽⁴⁾	100	%	—	—	—	1,007,600	0.67	21,800	1,007,600	0.67	21,800	67	%	1,051,800	0.67	22,800
Cerro Negro, Argentina	100	%	2,200	84.41	5,900	6,800	66.20	14,400	9,000	70.62	20,300	74	%	9,300	71.58	21,400
Pueblo Viejo Open Pits	40	%	35,800	12.01	13,800	51,300	11.58	19,100	87,100	11.76	32,900	53	%	81,700	11.86	31,200
Pueblo Viejo Stockpiles⁽⁵⁾	40	%	—	—	—	36,900	13.59	16,100	36,900	13.59	16,100	53	%	38,800	14.22	17,700
Total Pueblo Viejo, Dominican Republic⁽⁶⁾⁽⁷⁾	40	%	35,800	12.01	13,800	88,200	12.42	35,200	123,900	12.30	49,000	53	%	120,500	12.62	48,900
NuevaUnión, Chile⁽⁷⁾⁽⁸⁾	50	%	—	—	—	1,118,000	1.31	47,200	1,118,000	1.31	47,200	66	%	1,118,000	1.31	47,200
Norte Abierto, Chile⁽⁷⁾⁽⁹⁾	50	%	—	—	—	521,100	1.61	27,000	521,100	1.61	27,000	76	%	598,800	1.52	29,300
Yanacocha, Peru	100	%	—	—	—	68,300	8.82	19,400	68,300	8.82	19,400	5	%	172,300	15.05	83,400
Peñasquito Open Pits	100	%	79,500	34.50	88,200	114,800	31.09	114,700	194,300	32.49	202,900	83	%	224,700	31.09	224,600
Peñasquito Stockpiles⁽⁵⁾	100	%	4,900	47.37	7,500	21,800	27.90	19,600	26,700	31.48	27,000	76	%	32,000	27.89	28,700
Total Peñasquito, Mexico	100	%	84,400	35.25	95,700	136,600	30.58	134,300	221,000	32.37	230,000	82	%	256,600	30.70	253,300
Brucejack, Canada	100	%	—	—	—	13,500	29.39	12,800	13,500	29.39	12,800	83	%	8,600	34.36	9,500
NGM Open Pit	38.5	%	—	—	—	66,200	6.54	13,900	66,200	6.54	13,900	38	%	54,600	7.78	13,700
NGM Stockpiles⁽⁵⁾	38.5	%	2,700	7.89	700	—	—	—	2,700	7.89	700	38	%	3,200	7.87	800
Total NGM, United States⁽¹⁰⁾	38.5	%	2,700	7.89	700	66,200	6.54	13,900	68,900	6.59	14,600	38	%	57,900	7.78	14,500
Total Silver			125,000	28.88	116,000	3,026,200	3.35	326,000	3,151,200	4.36	442,000	71	%	3,393,800	4.86	530,200

____________________________
(1)		At December 31, 2025 and 2024, silver reserves at sites for which Newmont is the operator were estimated at a silver price of $25 and $20 per ounce, respectively, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.
(2)		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3)		Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 100,000.
(4)		The net smelter return value utilized in 2025 reserves not less than $24.62 per tonne.
(5)		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
(6)		The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Silver reserves at December 31, 2025 were estimated at a silver price of $21 per ounce. Silver reserves at December 31, 2025 and 2024 were provided by Barrick, the operator of Pueblo Viejo.
(7)		Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(8)		Project is currently undeveloped. Silver reserves at December 31, 2025 were estimated at a silver price of $18 per ounce. Silver reserves at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.
(9)		Project is currently undeveloped. Silver reserves at December 31, 2025 were estimated at a silver price of $25 per ounce. Silver reserves at December 31, 2025 and 2024 were provided by the Norte Abierto joint venture.
(10)		Silver cut-off grade varies with gold and copper credits. Silver reserves at December 31, 2025 were estimated at a silver price of $21 per ounce. Silver reserves at December 31, 2025 and 2024 were provided by Barrick, the operator of the NGM joint venture.

Silver Resources ⁽¹⁾⁽²⁾ - December 31, 2025
			Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
Deposits/Districts	Newmont Share		Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾
Wafi-Golpu, Papua New Guinea⁽⁴⁾	50	%	—	—	—	53,600	4.42	7,600	53,600	4.42	7,600	15,500	4.5	2,200	45	%
Cadia, Australia	100	%	—	—	—	1,009,300	0.62	20,200	1,009,300	0.62	20,200	163,900	0.4	2,300	68	%
Pueblo Viejo, Dominican Republic⁽⁴⁾⁽⁵⁾	40	%	7,300	6.95	1,600	33,100	7.79	8,300	40,300	7.64	9,900	6,300	8.3	1,700	53	%
NuevaUnión, Chile⁽⁴⁾⁽⁶⁾	50	%	164,300	0.96	5,100	349,900	1.19	13,400	514,100	1.12	18,400	602,200	1.2	22,500	66	%
Norte Abierto, Chile⁽⁴⁾⁽⁷⁾	50	%	77,700	1.21	3,000	525,500	1.07	18,100	603,200	1.09	21,100	381,100	1.0	12,600	79	%
Peñasquito, Mexico	100	%	52,800	28.32	48,100	172,100	25.28	139,900	224,900	26.00	188,000	9,200	24.2	7,100	80	%
La Bikina, Mexico⁽⁴⁾	50	%	—	—	—	19,900	13.99	9,000	19,900	13.99	9,000	1,600	11.0	500	25	%
Cerro Negro Underground	100	%	100	72.50	200	700	57.19	1,300	800	59.07	1,500	7,200	28.3	6,500	75	%
Cerro Negro Open Pit	100	%	1,200	6.76	300	1,200	6.62	300	2,400	6.70	500	300	6.7	100	71	%
Total Cerro Negro, Argentina	100	%	1,300	11.74	500	1,900	25.50	1,600	3,200	19.88	2,000	7,500	27.4	6,600	75	%
Conga, Peru⁽⁴⁾⁽⁸⁾	100	%	—	—	—	693,800	2.06	45,900	693,800	2.06	45,900	175,000	1.1	6,300	70	%
Yanacocha Open Pit	100	%	15,600	7.91	3,900	96,300	19.80	61,300	111,900	18.14	65,200	89,500	14.3	41,300	55	%
Yanacocha Leach Pad⁽⁹⁾	100	%	—	—	—	57,100	2.03	3,700	57,100	2.03	3,700	11,600	4.4	1,600	3	%
Yanacocha Underground	100	%	3,700	0.21	—	14,900	15.49	7,400	18,600	12.45	7,400	3,600	38.4	4,400	83	%
Total Yanacocha, Peru⁽¹⁰⁾	100	%	19,300	6.41	4,000	168,200	13.39	72,400	187,500	12.67	76,400	104,700	14.1	47,300	55	%
Galore Creek, Canada^(4)(11)	50	%	212,800	4.08	27,900	385,600	4.77	59,100	598,400	4.52	87,000	118,900	2.6	9,900	73	%
Brucejack, Canada	100	%	—	—	—	4,300	15.90	2,200	4,300	15.90	2,200	14,500	11.7	5,500	82	%
NGM, United States⁽¹²⁾	38.5	%	—	—	—	121,000	5.22	20,300	121,000	5.22	20,300	10,100	5.4	1,800	38	%
Total Silver			535,500	5.24	90,200	3,538,100	3.67	418,000	4,073,600	3.88	508,200	1,610,400	2.4	126,400	68	%

Silver Resources ⁽¹⁾⁽²⁾ - December 31, 2024
			Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
Deposits/Districts	Newmont Share		Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾
Wafi-Golpu, Papua New Guinea⁽⁴⁾	50	%	—	—	—	53,600	4.42	7,600	53,600	4.42	7,600	15,500	4.5	2,200	45	%
Cadia, Australia	100	%	—	—	—	1,245,100	0.65	26,100	1,245,100	0.65	26,100	549,400	0.4	7,900	67	%
Pueblo Viejo, Dominican Republic⁽⁴⁾⁽⁵⁾	40	%	8,200	7.69	2,000	38,200	7.82	9,600	46,400	7.80	11,600	5,000	6.8	1,100	71	%
NuevaUnión, Chile⁽⁴⁾⁽⁶⁾	50	%	164,300	0.96	5,100	349,900	1.19	13,400	514,100	1.12	18,400	602,200	1.2	22,500	66	%
Norte Abierto, Chile⁽⁴⁾⁽⁷⁾	50	%	77,200	1.20	3,000	596,900	1.07	20,600	674,200	1.09	23,500	369,600	1.0	11,300	78	%
Peñasquito, Mexico	100	%	48,200	27.22	42,200	163,100	24.84	130,300	211,300	25.39	172,400	21,100	25.4	17,200	80	%
La Bikina, Mexico⁽⁴⁾	50	%	—	—	—	19,900	13.99	9,000	19,900	13.99	9,000	1,600	11.0	500	25	%
Cerro Negro Underground	100	%	100	70.12	300	700	61.42	1,400	900	62.67	1,700	7,300	26.5	6,200	76	%
Cerro Negro Open Pit	100	%	1,200	6.76	300	1,200	6.62	300	2,400	6.70	500	300	6.7	100	71	%
Total Cerro Negro, Argentina	100	%	1,300	12.61	500	1,900	27.54	1,700	3,200	21.43	2,200	7,600	25.7	6,300	75	%
Conga, Peru⁽⁴⁾	100	%	—	—	—	693,800	2.06	45,900	693,800	2.06	45,900	175,000	1.1	6,300	70	%
Yanacocha Open Pit	100	%	16,300	6.71	3,500	103,900	10.16	33,900	120,200	9.69	37,400	26,300	13.4	11,400	43	%
Yanacocha Leach Pad	100	%	—	—	—	—	—	—	—	—	—	62,700	2.2	4,500	4	%
Yanacocha Underground	100	%	500	0.37	—	6,200	37.02	7,300	6,700	34.23	7,400	3,400	40.4	4,400	83	%
Total Yanacocha, Peru	100	%	16,800	6.52	3,500	110,100	11.66	41,300	126,900	10.98	44,800	92,400	6.8	20,300	47	%
Galore Creek, Canada^(4)(11)	50	%	212,800	4.08	27,900	385,600	4.77	59,100	598,400	4.52	87,000	118,900	2.6	9,900	73	%
Brucejack, Canada	100	%	—	—	—	4,300	19.68	2,700	4,300	19.68	2,700	16,600	11.6	6,200	82	%
NGM, United States⁽¹²⁾	38.5	%	—	—	—	98,300	5.64	17,800	98,300	5.64	17,800	10,300	4.2	1,400	38	%
Total Silver			528,900	4.96	84,300	3,760,700	3.18	385,000	4,289,600	3.40	469,200	1,985,100	1.8	113,200	69	%

___________________________
(1)		Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.
(2)		At December 31, 2025 and 2024, silver resources at sites in which Newmont is the operator were estimated at a silver price of $28 and $23 per ounce, respectively, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000.
(3)		Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 100,000.
(4)		Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(5)		Silver resources at December 31, 2025 were estimated at a silver price of $25 per ounce. Silver resources at December 31, 2025 and 2024 were provided by Barrick, the operator of the Pueblo Viejo.
(6)		Project is currently undeveloped. Silver resources at December 31, 2025 were estimated at a silver price of $18 per ounce. Silver resources at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.
(7)		Project is currently undeveloped. Silver resources at December 31, 2025 were estimated at a silver price of $23 per ounce. Silver resources at December 31, 2025 and 2024 were provided by the Norte Abierto joint venture.
(8)		Silver resources at December 31, 2025 were estimated at a silver price of $26 per ounce.
(9)		Leach pad material is the material on leach pads at the end of the year from which silver remains to be recovered. In-process resources are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported resources.
(10)		Silver resources related to the Yanacocha Sulfides project at December 31, 2025 were estimated at a silver price of $23 per ounce.
(11)		Project is currently undeveloped. Resource estimates provided by Teck Resources.
(12)		Silver resources at December 31, 2025 were estimated at a silver price of $25 per ounce. Silver resources at December 31, 2025 and 2024 were provided by Barrick, the operator of the NGM joint venture.

Lead Reserves ⁽¹⁾
December 31, 2025																	December 31, 2024
			Proven Reserves				Probable Reserves				Proven and Probable Reserves						Proven and Probable Reserves
Deposits/Districts	Newmont Share		Tonnage⁽²⁾ (000 tonnes)	Grade (Pb %)		Tonnes⁽³⁾ (000)	Tonnage⁽²⁾ (000 tonnes)	Grade (Pb %)		Tonnes⁽³⁾ (000)	Tonnage⁽²⁾ (000 tonnes)	Grade (Pb %)		Tonnes⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾		Tonnage⁽²⁾ (000 tonnes)	Grade (Pb %)		Tonnes⁽³⁾ (000)
Peñasquito, Mexico	100	%	84,400	0.34	%	300	136,600	0.28	%	400	221,000	0.30	%	700	75	%	256,600	0.31	%	800
Total Lead			84,400	0.34	%	300	136,600	0.28	%	400	221,000	0.30	%	700	75	%	256,600	0.31	%	800

____________________________
(1)		At December 31, 2025 and 2024, lead reserves were estimated at a lead price of $0.90 per pound. Amounts presented may not recalculate in total due to rounding.
(2)		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3)		Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.

Lead Resources ⁽¹⁾⁽²⁾ - December 31, 2025
			Measured Resource				Indicated Resource				Measured and Indicated Resource				Inferred Resource
Deposits/Districts	Newmont Share		Tonnage (000 tonnes)	Grade (Pb %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Pb %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Pb %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Pb %)		Tonnes⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾
Peñasquito, Mexico	100	%	52,800	0.26	%	100	172,100	0.24	%	400	224,900	0.24	%	500	9,200	0.2	%	—	73	%
Total Lead			52,800	0.26	%	100	172,100	0.24	%	400	224,900	0.24	%	500	9,200	0.2	%	—	73	%

Lead Resources ⁽¹⁾⁽²⁾ - December 31, 2024
			Measured Resource				Indicated Resource				Measured and Indicated Resource				Inferred Resource
Deposits/Districts	Newmont Share		Tonnage (000 tonnes)	Grade (Pb %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Pb %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Pb %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Pb %)		Tonnes⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾
Peñasquito, Mexico	100	%	48,200	0.25	%	100	163,100	0.23	%	400	211,300	0.23	%	500	21,100	0.2	%	—	73	%
Total Lead			48,200	0.25	%	100	163,100	0.23	%	400	211,300	0.23	%	500	21,100	0.2	%	—	73	%

____________________________
(1)		Resources are reported exclusive of reserves.
(2)		At December 31, 2025 and 2024, lead resources were estimated at a lead price of $1.00 per pound. Tonnage amounts have been rounded to the nearest 100,000.
(3)		Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.

Zinc Reserves ⁽¹⁾
December 31, 2025												December 31, 2024
		Proven Reserves			Probable Reserves			Proven and Probable Reserves				Proven and Probable Reserves
Deposits/Districts	Newmont Share	Tonnage⁽²⁾ (000 tonnes)	Grade (Zn %)	Tonnes⁽³⁾ (000)	Tonnage⁽²⁾ (000 tonnes)	Grade (Zn %)	Tonnes⁽³⁾ (000)	Tonnage⁽²⁾ (000 tonnes)	Grade (Zn %)	Tonnes⁽³⁾ (000)	Metallurgical Recovery⁽³⁾	Tonnage⁽²⁾ (000 tonnes)	Grade (Zn %)	Tonnes⁽³⁾ (000)
Peñasquito Open Pits, Mexico	100%	79,500	0.77%	600	114,800	0.60%	700	194,300	0.67%	1,300	83%	224,700	0.69%	1,500
Peñasquito Stockpiles, Mexico ⁽⁴⁾	100%	4,900	1.25%	100	21,800	0.54%	100	26,700	0.67%	200	78%	32,000	0.58%	200
Total Zinc		84,400	0.80%	700	136,600	0.59%	800	221,000	0.67%	1,500	82%	256,600	0.68%	1,700

____________________________
(1)		At December 31, 2025 and 2024, zinc reserves were estimated at a zinc price of $1.20 per pound. Amounts presented may not recalculate in total due to rounding.
(2)		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3)		Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where pounds exceed 100 million and are greater than 5% of the total site-reported reserves.

Zinc Resources ⁽¹⁾⁽²⁾ - December 31, 2025
			Measured Resource				Indicated Resource				Measured and Indicated Resource				Inferred Resource
Deposits/Districts	Newmont Share		Tonnage (000 tonnes)	Grade (Zn %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Zn %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Zn %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Zn %)		Tonnes⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾
Peñasquito, Mexico	100	%	52,800	0.72	%	400	172,100	0.57	%	1,000	224,900	0.60	%	1,400	9,200	0.5	%	—	82	%
Total Zinc			52,800	0.72	%	400	172,100	0.57	%	1,000	224,900	0.60	%	1,400	9,200	0.5	%	—	82	%

Zinc Resources ⁽¹⁾⁽²⁾ - December 31, 2024
			Measured Resource				Indicated Resource				Measured and Indicated Resource				Inferred Resource
Deposits/Districts	Newmont Share		Tonnage (000 tonnes)	Grade (Zn %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Zn %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Zn %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Zn %)		Tonnes⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾
Peñasquito, Mexico	100	%	48,200	0.69	%	300	163,100	0.55	%	900	211,300	0.59	%	1,200	21,100	0.6	%	100	81	%
Total Zinc			48,200	0.69	%	300	163,100	0.55	%	900	211,300	0.59	%	1,200	21,100	0.6	%	100	81	%

____________________________
(1)		Resources are reported exclusive of reserves.
(2)		At December 31, 2025 and 2024, zinc resources were estimated at a zinc price of $1.30 per pound. Tonnage amounts have been rounded to the nearest 100,000.
(3)		Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.

Molybdenum Reserves ⁽¹⁾
December 31, 2025																	December 31, 2024
			Proven Reserves				Probable Reserves				Proven and Probable Reserves						Proven and Probable Reserves
Deposits/Districts	Newmont Share		Tonnage⁽²⁾ (000 tonnes)	Grade (Mo %)		Tonnes⁽³⁾ (000)	Tonnage⁽²⁾ (000 tonnes)	Grade (Mo %)		Tonnes⁽³⁾ (000)	Tonnage⁽²⁾ (000 tonnes)	Grade (Mo %)		Tonnes⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾		Tonnage⁽²⁾ (000 tonnes)	Grade (Mo %)		Tonnes⁽³⁾ (000)
Cadia, Australia⁽⁴⁾	100	%	—	—	%	—	996,400	0.01	%	100	996,400	0.01	%	100	67	%	1,040,600	0.01	%	100
NuevaUnión, Chile⁽⁵⁾⁽⁶⁾	50	%	—	—	%	—	776,900	0.02	%	100	776,900	0.02	%	100	48	%	776,900	0.02	%	100
Total Molybdenum			—	—	%	—	1,773,300	0.01	%	200	1,773,300	0.01	%	200	56	%	1,817,500	0.01	%	200

____________________________
(1)		At December 31, 2025 and 2024, molybdenum reserves at sites for which Newmont is the operator were estimated at a molybdenum price of $13 per pound, unless otherwise noted. Amounts presented may not recalculate in total due to rounding.
(2)		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3)		Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)		The net smelter return value utilized in 2025 reserves not less than $25 per tonne.
(5)		Project is currently undeveloped. Molybdenum reserves at December 31, 2025 were estimated at a molybdenum price of $10 per pound. Molybdenum reserves at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.
(6)		Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

Molybdenum Resources ⁽¹⁾⁽²⁾ - December 31, 2025
			Measured Resource				Indicated Resource				Measured and Indicated Resource				Inferred Resource
Deposits/Districts	Newmont Share		Tonnage (000 tonnes)	Grade (Mo %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Mo %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Mo %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Mo %)		Tonnes⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾
Cadia, Australia	100	%	—	—	%	—	938,100	0.01	%	100	938,100	0.01	%	100	124,200	—	%	—	67	%
NuevaUnión, Chile⁽⁴⁾	50	%	159,500	0.01	%	—	231,500	0.01	%	—	391,000	0.01	%	—	362,300	—	%	—	52	%
Total Molybdenum			159,500	0.01	%	—	1,169,600	0.01	%	100	1,329,100	0.01	%	100	486,500	—	%	—	59	%

Molybdenum Resources ⁽¹⁾⁽²⁾ - December 31, 2024
			Measured Resource				Indicated Resource				Measured and Indicated Resource				Inferred Resource
Deposits/Districts	Newmont Share		Tonnage (000 tonnes)	Grade (Mo %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Mo %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Mo %)		Tonnes⁽³⁾ (000)	Tonnage (000 tonnes)	Grade (Mo %)		Tonnes⁽³⁾ (000)	Metallurgical Recovery ⁽³⁾
Cadia, Australia	100	%	—	—	%	—	1,173,900	0.01	%	100	1,173,900	0.01	%	100	509,600	—	%	—	72	%
NuevaUnión, Chile⁽⁴⁾	50	%	159,500	0.01	%	—	231,500	0.01	%	—	391,000	0.01	%	—	362,300	—	%	—	52	%
Total Molybdenum			159,500	0.01	%	—	1,405,400	0.01	%	100	1,564,900	0.01	%	100	872,000	—	%	100	62	%

____________________________
(1)		Resources are reported exclusive of reserves.
(2)		At December 31, 2025 and 2024, molybdenum resources at sites in which Newmont is the operator were estimated at a molybdenum price of $16 per pound, unless otherwise noted. Tonnage amounts have been rounded to the nearest 100,000.
(3)		Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)		Project is currently undeveloped and is included in Corporate and Other in Note 4 to the Consolidated Financial Statements. Molybdenum resources at December 31, 2025 were estimated at a molybdenum price of $10.00 per pound. Molybdenum resources at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925. At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont’s sustainability strategy and initiatives, go to www.newmont.com.

Cautionary Statement Regarding Reserve and Resource Estimates:

The reserves stated herein were prepared in compliance with Subpart 1300 of Regulation S-K adopted by the United States Securities and Exchanges Commission ("the SEC") and represent the amount of gold, copper, silver, lead, zinc, and molybdenum estimated, at December 31, 2025 or December 31, 2024, as applicable, could be economically and legally extracted or produced at the time of the reserve determination. The term “economically,” as used in this definition, means that profitable extraction or production has been established or analytically demonstrated in at a minimum, a pre-feasibility study to be viable and justifiable under reasonable investment and market assumptions. The term “legally,” as used in this definition, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, Newmont (or our joint venture partners) must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with Newmont’s (or our joint venture partners') current mine plans. Reserves in this presentation are aggregated from the proven and probable classes. The term “Proven reserves” used in the tables of the appendix means reserves for which (a) quantity is estimated from dimensions revealed in outcrops, trenches, workings or drill holes; (b) grade and/or quality are estimated from the results of detailed sampling; and (c) the sites for inspection, sampling and measurements are spaced so closely and the geologic character is sufficiently defined that size, shape, depth and mineral content of reserves are well established. The term “Probable reserves” means reserves for which quantity and grade are estimated from information similar to that used for Proven reserves, but the sites for sampling are farther apart or are otherwise less closely spaced. The degree of assurance, although lower than that for Proven reserves, is high enough to assume continuity between points of observation. Newmont classifies all reserves as Probable on its development projects until a year of production has confirmed all assumptions made in the reserve estimates. Proven and Probable reserves include gold, copper, silver, zinc, lead, or molybdenum attributable to Newmont’s ownership or economic interest. Proven and Probable reserves were calculated using cut-off grades. The term “cutoff grade” means the lowest grade of mineralized material considered economic to process. Cut-off grades vary between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the ore to gold, copper, silver, zinc, lead, or molybdenum extraction and type of milling or leaching facilities available.

Estimates of Proven and Probable reserves are subject to considerable uncertainty. Such estimates are, or will be, to a large extent, based on the prices of gold, silver, copper, zinc, lead, and molybdenum and interpretations of geologic data obtained from drill holes and other exploration techniques, which data may not necessarily be indicative of future results. If our reserve estimations are required to be revised using significantly lower gold, silver, zinc, copper, lead, and molybdenum prices as a result of a decrease in commodity prices, increases in operating costs, reductions in metallurgical recovery or other modifying factors, this could result in material write-downs of our investment in mining properties, goodwill and increased amortization, reclamation and closure charges. Producers use pre-feasibility and feasibility studies for undeveloped ore bodies to derive estimates of capital and operating costs based upon anticipated tonnage and grades of ore to be mined and processed, the predicted configuration of the ore body, expected recovery rates of metals from the ore, the costs of comparable facilities, the costs of operating and processing equipment and other factors. Actual operating and capital cost and economic returns on projects may differ significantly from original estimates. Further, it may take many years from the initial phases of exploration until commencement of production, during which time, the economic feasibility of production may change. Estimates of resources are subject to further exploration and development, are subject to additional risks, and no assurance can be given that they will eventually convert to future reserves. Inferred resources, in particular, have a great amount of uncertainty as to their existence and their economic and legal feasibility. Investors are cautioned not to assume that any part of all of the Inferred resource exists or is economically or legally mineable. The Company cannot be certain that any part or parts of the resource will ever be converted into reserves. In addition, if the price of gold, silver, copper, zinc, lead, or molybdenum declines from recent levels, if production costs increase, grades decline, recovery rates decrease or if applicable laws and regulations are adversely changed, the indicated level of recovery may not be realized or mineral reserves or resources might not be mined or processed profitably. If we determine that certain of our mineral reserves or resources have become uneconomic, this may ultimately lead to a reduction in our aggregate reported mineral reserves and resources. Consequently, if our actual mineral reserves and resources are less than current estimates, our business, prospects, results of operations and financial position may be materially impaired. For additional information see the “Proven and Probable Reserve" and "Measured and Indicated and Inferred Resource" tables herein.

Cautionary Statement Regarding Forward Looking Statements:

This release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements may include, without limitation, estimates and expectations of future production, reserve estimates, exploration outlook and expected expenditure, and operational and financial performance. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Such assumptions, include, but are not limited to the key assumptions set forth on page 5 herein. Investors are also encouraged to refer to the Company’s Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on or about February 19, 2026, under the heading “Risk Factors", as well as Newmont's other SEC filings, available on the SEC website or at www.newmont.com. Newmont does not undertake any obligation to release publicly revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors’ own risk.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260219894602/en/

Contact details:

Investor Contact - Global
Neil Backhouse
[email protected]

Investor Contact - Asia Pacific
Clare Kasperzak
[email protected]

Media Contact - Global
Shannon Brushe
[email protected]

Media Contact - Asia Pacific
Rosalie Cobai
[email protected]

Newmont Reports 2025 Mineral Reserves of 118.2 Million Gold Ounces and 12.5 Million Tonnes of Copper

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