Newmont NEM · USD

SEGMENT INFORMATIONThe Company regularly reviews its segment reporting for alignment with its strategic goals and operational structure as well as for evaluation of business performance and allocation of resources by Newmont’s Chief Operating Decision Maker ("CODM"), which is the Chief Executive Officer. The Company's 13 reportable segments consist of each of its 12 mining operations that it manages and its 38.5% proportionate interest in Nevada Gold Mines ("NGM"), which it does not directly manage. The reportable segments at December 31, 2025 exclude reportable segments that have been divested. Refer to Note 3 for further information on the Company's divestitures.With respect to NGM, Newmont has given notice to Barrick and the NGM Board of Managers that it has identified evidence of mismanagement at NGM, including diversion of resources from NGM to the benefit of Barrick’s wholly-owned property Fourmile and Barrick, and that it was exercising its contractual inspection and audit rights. In October 2025, the Company declared commercial production at its Ahafo North project in Ghana resulting in classification as a reportable segment. Prior to declaration of commercial production, Ahafo North was classified as a development project and all activity was included in the Ahafo South reportable segment up to the date of commercial production. Although not a reportable segment until the fourth quarter of 2025, the amounts related to Ahafo North have been reported separately for comparability purposes.In the following tables, Income (loss) before income and mining tax and other items from reportable segments does not reflect general corporate expenses, interest (except project-specific interest), or income and mining taxes. Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance. The Company's business activities and operating segments that are not considered reportable, including all equity method investments, are reported in the non-operating segment Corporate and Other, which has been provided for reconciliation purposes.The CODM uses Income (loss) before income and mining tax and other items to evaluate income generated from segment assets in deciding whether to reinvest profits into the mine operation or reallocate for other capital priorities under the Company's capital allocation strategy.

COMMITMENTS AND CONTINGENCIESGeneralEstimated losses from contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable that a liability could be incurred and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the contingency and estimated range of loss, if determinable, is made in the financial statements when it is at least reasonably possible that a material loss could be incurred.Operating SegmentsThe Company’s operating and reportable segments are identified in Note 4. Except as noted in this paragraph, all of the Company’s commitments and contingencies specifically described herein are included in the non-operating segment Corporate and Other. The Yanacocha matters relate to the Yanacocha reportable segment. The Cadia matter relates to the Cadia reportable segment. The CC&V matter relates to CC&V, which was divested in the first quarter of 2025. The Newmont Ghana Gold and Newmont Golden Ridge matters relate to the Ahafo South reportable segment and Akyem, which was divested in the second quarter of 2025, respectively.Environmental MattersRefer to Note 6 for further information regarding reclamation and remediation. Details about certain significant matters are discussed below.Minera Yanacocha S.R.L. - 100% Newmont OwnedIn early 2015 and again in June 2017, the Peruvian government agency responsible for certain environmental regulations, MINAM, issued proposed modifications to water quality criteria for designated beneficial uses which apply to mining companies, including Yanacocha. These criteria modified the in-stream water quality criteria pursuant to which Yanacocha has been designing water treatment processes and infrastructure. In December 2015, MINAM issued the final regulation that modified the water quality standards. These Peruvian regulations allow time to formulate a compliance plan and make any necessary changes to achieve compliance.In February 2017, Yanacocha submitted a modification to its previously approved compliance achievement plan to MINEM. In May 2022, Yanacocha submitted a proposed modification to this plan requesting an extension of time for coming into full compliance with the new regulations to 2027.

DEBTAt December 31, 2025 (1)At December 31, 2024 (1)Non-CurrentFair Value (2)CurrentNon-CurrentFair Value (2)5.30% Senior Notes due March 2026 $— $— $924 $— $948 2.80% Senior Notes due October 2029265 257 — 633 587 3.25% Senior Notes due May 2030379 411 — 554 583 2.25% Senior Notes due October 2030246 230 — 872 765 2.60% Senior Notes due July 2032785 728 — 821 713 5.35% Senior Notes due March 2034987 1,061 — 987 1,012 5.875% Senior Notes due April 2035502 567 — 581 625 6.25% Senior Notes due October 2039275 308 — 861 934 5.75% Senior Notes due November 2041292 326 — 457 500 4.875% Senior Notes due March 2042562 553 — 949 891 5.45% Senior Notes due June 2044460 433 — 479 435 4.20% Senior Notes due May 2050365 409 — 363 407 Debt issuance costs on Corporate Revolving Credit Facilities(3)— — (5)— $5,115 $5,283 $924 $7,552 $8,400 ____________________________(1)All outstanding senior notes are unsecured and rank equally with one another.(2)The estimated fair value of the senior notes was determined by an independent third-party pricing source and may or may not reflect the actual trading value of this debt. Maturities for the next five years, and thereafter, are as follows:Year Ending December 31,2026$— 2027— 2028— 2029267 2030671 Thereafter4,405 Total face value of debt5,343 Unamortized premiums, discounts, and issuance costs(228)Debt$5,115 Corporate Revolving Credit Facilities and Letters of Credit FacilitiesIn connection with the Newcrest transaction on November 6, 2023, the Company assumed bilateral bank debt facilities totaling $2,000, of which $1,923 was outstanding at December 31, 2023. In February 2024, the Company repaid the full amount outstanding and terminated the facilities. On February 15, 2024, the Company amended and restated its $3,000 revolving credit agreement dated as of April 4, 2019 (the “Existing Credit Agreement”) to $4,000 and extended the maturity date from March 30, 2026 to February 15, 2029. The amended facility was entered into with a syndicate of financial institutions and provides for borrowings in U.S. dollars and contains a letter of credit sub-facility.Interest is based on Term SOFR plus a credit spread adjustment and margin. Facility fees vary based on the credit ratings of the Company’s senior, uncollateralized, non-current debt. Debt covenants under the amendment are substantially the same as the Existing Credit Agreement and the letter of credit sub-facility on the Existing Credit Agreement was retained.

STOCK-BASED COMPENSATIONThe Company grants stock-based incentive awards to directors, executives and eligible employees. Stock incentive awards include RSUs and PSUs and are determined as a target percentage of base salary. All RSU awards generally vest on a straight-line basis over three years. All PSU awards generally cliff vest after three years and the number of awards that vest is based on the achievement of the market and performance metrics. For employees who are retirement eligible or who become retirement eligible during the term of the award, the vesting period may be reduced based on the retirement eligibility date.Prior to vesting, holders of stock incentive awards do not have the right to vote the underlying shares; however, directors, executives and eligible employees accrue dividend equivalents on their stock incentive awards, which are paid at the time the awards vest. The accrued dividend equivalents are not paid if awards are forfeited. Upon vesting, the employee is entitled to receive one share of the Company’s common stock for each RSU or PSU. The Company issues new shares of common stock to satisfy vesting under all of its stock incentive awards. At December 31, 2025, 18,214,007 shares were authorized for issuance for future vesting of stock incentive awards.Total stock-based compensation was $99, $89, and $80 (including $20, $6, and $4 related to the Company's proportionate share of NGM stock-based compensation) for the years ended December 31, 2025, 2024, and 2023, respectively. At December 31, 2025, there was $92 of unrecognized compensation costs related to the unvested stock incentive awards. This cost is expected to be recognized over a weighted average period of approximately two years.A summary of the status and activity of non-vested RSUs and PSUs for the year ended December 31, 2025 is as follows:RSUPSUNumber of UnitsWeighted Average Grant-Date Fair ValueNumber of UnitsWeighted Average Grant-Date Fair ValueNon-vested at beginning of year3,278,470 $36.13 1,641,713 $44.58 Granted1,782,952 $46.11 419,290 $31.24 Vested(1,453,507)$39.88 — $— Forfeited(674,378)$38.04 (332,854)$41.35 Non-vested at end of year2,933,537 $39.90 1,728,149 $41.96 The total intrinsic value and fair value of RSUs that vested in 2025, 2024, and 2023 was $68, $37, and $36, respectively. The total intrinsic value and fair value of PSUs that vested in 2025, 2024, and 2023 was $—, $6, and $35, respectively.

ACQUISITIONS AND DIVESTITURESBusiness AcquisitionOn November 6, 2023 (the “acquisition date”), Newmont completed its business combination transaction with Newcrest, a public Australian mining company limited by shares, whereby Newmont, through Newmont Sub, acquired all of the ordinary shares of Newcrest, pursuant to a court-approved scheme of arrangement under Part 5.1 of the Australian Corporations Act 2001 (Cth) between Newcrest and its stockholders, as contemplated by a scheme implementation deed, dated as of May 15, 2023, by and among Newmont, Newmont Sub and Newcrest, as amended from time to time. Upon implementation, Newmont completed the business acquisition of Newcrest, in which Newmont was the acquirer and Newcrest became a direct wholly owned subsidiary of Newmont Sub and an indirect wholly owned subsidiary of Newmont (such acquisition, the “Newcrest transaction”). The acquisition of Newcrest increased the Company’s gold and other metal reserves and expanded its operating jurisdictions.The acquisition date fair value of the consideration transferred consisted of the following:(in millions, except share and per share data)SharesPer SharePurchase ConsiderationStock ConsiderationShares of Newmont exchanged for Newcrest outstanding ordinary shares357,691,627 $37.88 $13,549 Total Purchase Price$13,549 The Company retained an independent appraiser to determine the fair value of assets acquired and liabilities assumed. In accordance with the acquisition method of accounting, the purchase price of Newcrest was allocated to the acquired assets and assumed liabilities based on their estimated acquisition date fair values. The fair value estimates were based on income, market and cost valuation methods. The excess of the total consideration over the estimated fair value of the amounts assigned to the identifiable assets acquired and liabilities assumed was recorded as goodwill, which is not deductible for income tax purposes. The goodwill balance is mainly attributable to: (i) the acquisition of existing operating mines with access to an assembled workforce that cannot be duplicated at the same costs by new entrants; (ii) operating synergies anticipated from the integration of the operations of Newmont and Newcrest; and (iii) the application of Newmont’s Full Potential program and potential strategic and financial benefits that include the increase in reserve base and opportunities to identify additional mineralization through exploration activities.

We rely upon technology and information systems to support our mining and business operations globally. These systems may be susceptible to cybersecurity risks including, but not limited to, external attackers, malware, viruses, and unauthorized access to our IT systems. Cybersecurity and the secure adoption of emerging technologies, including artificial intelligence ("AI"), remain strategic priorities for Newmont. In November 2025, we implemented an enterprise-wide Artificial Intelligence Standard that governs AI adoption and use, model lifecycle management, and associated cybersecurity and privacy controls. We continuously invest in developing our cybersecurity controls and processes to address these threats and reduce the risk of future breaches and cyber attacks. Our processes to assess, identify, and manage cybersecurity risk are integrated with our global Risk Management System ("RMS") and include periodic enterprise-wide cyber risk assessments, continuous control monitoring, scenario-based exercises, and site-level reviews of our operational technology environments. Our Board of Directors and management team oversee these risks ensuring alignment with our business objectives and regulatory obligations.Foundationally, we seek to manage cyber risk through a structure of controls that includes cybersecurity standards, policies and cyber solutions that protect the availability, integrity, and confidentiality of our critical IT and mining systems. We monitor for emergent cyber threats and assess any actions required to reduce those risks. Our cybersecurity program is aligned to globally recognized security frameworks including the Mitre Att&ck Framework, NIST and ISO27001. We previously maintained ISO27001 certification; while we are no longer certified, we continue to align our cybersecurity program to ISO27001 principles and conduct periodic independent assessments of our controls. We further test our cybersecurity controls by engaging leading third-party cybersecurity service providers to perform external and internal penetration tests of critical business applications and mining system. Additionally, we review and tabletop test our incident response plan. We leverage continuous monitoring of our internet facing presence, as well as, known internet based criminal communities for indicators referencing Newmont, our executives, and employees.

SALESThe following tables present the Company’s Sales by mining operation, product and inventory type:Year Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023Gold DoréConcentrate and OtherTotal SalesGold DoréConcentrate and OtherTotal SalesGold DoréConcentrate and OtherTotal SalesManagedLihir (1)$1,983 $— $1,983 $1,473 $— $1,473 $266 $— $266 Cadia: (1)Gold150 1,259 1,409 126 992 1,118 28 222 250 Copper— 885 885 — 743 743 — 172 172 Total Cadia150 2,144 2,294 126 1,735 1,861 28 394 422 Tanami1,353 — 1,353 988 — 988 867 — 867 Boddington:Gold488 1,500 1,988 353 1,064 1,417 359 1,092 1,451 Copper— 258 258 — 329 329 — 363 363 Total Boddington488 1,758 2,246 353 1,393 1,746 359 1,455 1,814 Ahafo South2,266 — 2,266 1,923 — 1,923 1,130 — 1,130 Ahafo North (2)242 — 242 — — — — — — Merian821 25 846 638 22 660 600 25 625 Cerro Negro 691 — 691 566 — 566 510 — 510 Yanacocha1,781 23 1,804 833 8 841 526 11 537 Peñasquito: Gold— 1,492 1,492 — 713 713 36 221 257 Silver (3)— 1,080 1,080 — 792 792 — 335 335 Lead— 183 183 — 195 195 — 96 96 Zinc— 664 664 — 622 622 — 213 213 Total Peñasquito— 3,419 3,419 — 2,322 2,322 36 865 901 Red Chris: (1)Gold— 218 218 — 96 96 — 9 9 Copper— 295 295 — 229 229 — 23 23 Total Red Chris— 513 513 — 325 325 — 32 32 Brucejack (1)540 284 824 415 195 610 48 24 72 Non-managedNGM (4)3,387 173 3,560 2,336 149 2,485 2,178 93 2,271 Divested (5)CC&V88 — 88 347 — 347 332 — 332 Musselwhite 94 — 94 516 — 516 351 — 351 Porcupine 177 — 177 673 — 673 503 — 503 Éléonore 138 — 138 583 — 583 453 — 453 Akyem131 — 131 495 — 495 574 — 574 Telfer: (1)Gold— — — 47 195 242 20 115 135 Copper— — — — 26 26 — 17 17 Total Telfer— — — 47 221 268 20 132 152 Consolidated$14,330 $8,339 $22,669 $12,312 $6,370 $18,682 $8,781 $3,031 $11,812 ____________________________(1)Sites acquired through the Newcrest transaction. Refer to Note 3 for further information.(2)In October 2025, the Company declared commercial production at its Ahafo North project in Ghana resulting in classification as a reportable segment. (3)Silver sales from concentrate includes $84, $91, and $42 related to non-cash amortization of the silver streaming agreement liability for the years ended December 31, 2025, 2024, and 2023, respectively.(4)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $3,410, $2,338, and $2,174 for the years ended December 31, 2025, 2024, and 2023, respectively.

GOODWILLChanges in the carrying amount of goodwill by reportable segment were as follows:Balance at December 31, 2023Acquisitions (1)Balance at December 31, 2024Balance at December 31, 2025Lihir$695 $249 $944 $944 Cadia565 (316)249 249 Red Chris397 142 539 539 Brucejack1,087 (418)669 669 NGM257 — 257 257 $3,001 $(343)$2,658 $2,658 ____________________________(1)Amounts relate to goodwill recognized through the Newcrest transaction on November 6, 2023. During 2024, goodwill was subject to measurement period adjustments to the purchase price allocation. Refer to Note 3 for further information.