Newmont Announces $1.0 Billion Share Repurchase Program

Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced its Board of Directors has approved a share repurchase program for up to $1.0 billion of common equity, to be completed over the next 18 months. The program will be executed at the Company’s discretion, utilizing open market repurchases to occur from time to time throughout the authorization period, and is in addition to Newmont’s industry-leading dividend framework.

Newmont’s capital allocation philosophy balances steady reinvestment in the business, maintaining financial strength and flexibility, and providing leading returns to shareholders. Recently, the Company announced an industry-leading dividend framework, which includes a sustainable base dividend and additional returns at higher gold prices. The share repurchase program builds on the $1.0 billion 2020 program, which retired 22 million shares at an average price of $45 per share.

“Our share repurchase program demonstrates the confidence we have in our world-class portfolio and disciplined operating model to provide industry-leading returns to our shareholders,” said Tom Palmer, President and Chief Executive Officer. “The share repurchase program is among a number of tools we have the flexibility to deploy to provide the most superior set of returns to shareholders over time.”

Newmont has the strongest and most sustainable portfolio of operations, projects and exploration prospects in the gold sector. Newmont’s world-class portfolio has returned more than $2.7 billion to shareholders through dividends and share buybacks since January 2019.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. 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. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.