DENVER--(BUSINESS WIRE)--November 1, 2022--Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced third quarter 2022 results.

THIRD QUARTER 2022 RESULTS

• Produced 1.49 million attributable ounces of gold and 299 thousand attributable gold equivalent ounces (GEO) from co-products; due to timing of shipments at Peñasquito, 38 thousand attributable gold ounces and 20 thousand GEOs of third quarter production will be sold in the fourth quarter
• Reported gold Costs Applicable to Sales (CAS)^* of $968 per ounce and All-In Sustaining Costs (AISC)^* of $1,271 per ounce
• On track to achieve full-year guidance of 6.0 million ounces of attributable gold production with Gold CAS of $900 per ounce and Gold AISC of $1,150 per ounce, as well as 1.3 million gold equivalent ounce production from copper, silver, lead and zinc with Co-Product CAS of $750 per GEO and Co-Product AISC of $1,050 per GEO^**
• Generated $466 million of cash from continuing operations and reported $(63) million of Free Cash Flow^*, impacted by one-time working capital payments totaling $210 million and the timing of concentrate shipments at Peñasquito with an approximate sales value of $80 million
• Reported Adjusted Net Income (ANI)^* of $0.27 per share and Adjusted EBITDA^* of $850, impacted by lower metal prices and timing of sales
• Declared third quarter dividend of $0.55 per share, calibrated at an $1,800 per ounce gold price^***
• $1 billion share repurchase program to be used opportunistically, with $475 million remaining^***
• Ended the quarter with $3.1 billion of consolidated cash, $653 million of time deposits with a maturity of less than one year, and $6.7 billion of liquidity; reported net debt to adjusted EBITDA ratio of 0.5x*
• Announced the delay and review of the Yanacocha Sulfides project and appointment of Dean Gehring to Chief Development Officer - Peru to lead operations and strategy in the region
• Advancing profitable near-term projects, including Tanami Expansion 2, Ahafo North, Pamour and Cerro Negro District Expansion 1
• Announced and closed the sale of Newmont's 18.75% stake in the MARA project joint venture to Glencore International AG for $125 million, with a minimum $30 million deferred payment upon successfully reaching commercial production
• Published inaugural Taxes and Royalties Contribution Report, providing an overview of our tax strategy and economic contributions as part of our commitment to shared value creation