FY20 Half Year Results Sandeep Biswas Managing Director and Chief - PowerPoint PPT Presentation

FY20 Half Year Results Sandeep Biswas Managing Director and Chief Executive Officer Gerard Bond Finance Director and Chief Financial Officer

Disclaimer Forward Looking Statements This presentation includes forward looking statements. Forward looking statements can generally be identified by the use of wor ds such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, “outlook” and “guidance”, or other similar words and may include, without limitation, statements re garding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. The Company continues to distinguish between outlook and guidance. Guidance statements relate to the current financial year. Outlook statements relate to years subsequent to the current financial year. Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Compan y’s actual results, performance and achievements to differ materially from statements in this presentation. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. Forward looking statements are based on the Company’s good faith assumptions as to the financial, market, regulatory and othe r r elevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, and many events are beyond the reasonable control of the Company. Readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Except as required by applicable laws or regulations, the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in assumptions on which any such statement is based. Non-IFRS Financial Information Newcrest results are reported under International Financial Reporting Standards (IFRS) including EBIT and EBITDA. This presentation also includes non-IFRS information including Underlying profit (profit after tax before significant items attributable to owners of the parent company), All-In Sustaining Cost (determined in accordance with the updated World Gold Council Guidance Note on Non-GAAP Metrics which was released in November 2018), AISC Margin (realised gold price less AISC per ounce sold (where expressed as USD), or realised gold price less AISC per ounce sold divided by realised gold price (where expressed as a %)), Interest Coverage Ratio (EBITDA/Interest payable for the relevant period), Free cash flow (cash flow from operating activities less cash flow related to investing activities), EBITDA margin (EBITDA expressed as a percentage of revenue) and EBIT margin (EBIT expressed as a percentage of revenue). These measures are used internally by Management to assess the performance of the business and make decisions on the allocation of resources and are included in this presentation to provide greater understanding of the underlying performance of Newcrest’s operations. The non -IFRS information has not been subject to audit or review by Newc rest’s external auditor and should be used in addition to IFRS information. Reliance on Third Party Information The views expressed in this presentation contain information that has been derived from sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. This presentation should not be relied upon as a recommendation or forecast by Newcrest. Competent Person’s Statement The information in this presentation that relates to Mineral Resources or Ore Reserves has been extracted from the release title d “Annual Mineral Resources and Ore Reserves Statement – 31 December 2019” dated 13 February 2020 (the original release). Newcrest confirms that it is not aware of any new information o r data that materially affects the information included in the original release and, in the case of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original release continue to apply and have not materially changed. Newcrest confirms that the form and context in which the competent person’s findings are present ed have not been materially modified from the original release. The information in this presentation that relates to Exploration Results at Red Chris has been extracted from the release titled “Quarterly Exploration Report” dated 30 January 2020 (the Red Chris release). Newcrest confirms that it is not aware of any new information or data that materially affects the information included in the Red Chris release and that all material assumptions and technical parameters underpinning the estimates in the Red Chris release continue to apply and have not materially changed. Newcrest confirms that the form and context in which the competent person’s findings are presented have not been materially modified from the Red Chris release.

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Safety & HY20 Results Sustainability The unique Financials multi-decade gold-copper miner Summary

Continued Total Recordable Injury Frequency Rate (per million hours worked) Focus on Safety 1 3.7 3.3 2.4 2.3 2.3 FY16 FY17 FY18 FY19 H1 FY20 Safety Transformation TRIFR improvements at most operations Red Chris integration is progressing well but Cadia Telfer injury rates are much 4.3 12% 4.3 49% higher than Newcrest average Lihir Gosowong Zero Fatalities 0.5 29% 1.8 260% ~4.5 years fatality free Newcrest released its initial Red Chris TRIFR results for the half year (16.9) TRIFR – Total Recordable Injury Frequency Rate (per 1 following acquisition on 15 August 2019. million hours worked).

Implementing NewSafe at Red Chris 90% of site and contractor leaders at Red Chris have completed the Leadership component of NewSafe

Greenhouse gas (GHG) intensity target Sustainability A 30% reduction in GHG emissions per tonne of ore treated by 2030 against targets the 2018 baseline Shadow carbon price Acquisitions and key capital investment decisions to include carbon price scenarios between $25 and $50 a tonne of CO 2 -e in sensitivity analysis, for jurisdictions where there is no regulated carbon price Task Force on Climate-related Financial Disclosures framework Newcrest to take a phased approach to reporting against the TCFD framework Water stewardship Operations to take a catchment-based approach to managing water risks Biodiversity New projects to strive to achieve no net loss of biodiversity values World Gold Council Responsible Gold Mining Principles Newcrest to operate in line with the Responsible Gold Mining Principles

Safety & HY20 Results Sustainability The unique Financials multi-decade gold-copper miner Summary

Half Year Highlights Investing in the Gold production future 1.1moz Acquired 70% AISC $880/oz Red Chris Underlying Profit $280m Significant mineralisation at Interim dividend Havieron US 7.5 cents per share, fully franked

Cadia mill Cadia expanding to between 33 & Gold Production (koz) 35mtpa 453 460 411 382 374 318 350 301 299 287 246 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 FY15 FY16 FY17 FY18 FY19 FY20 AISC ($/oz) 210 197 246 295 258 217 135 205 131 134 167 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 FY15 FY16 FY17 FY18 FY19 FY20

Lower grades Lihir from open pit mining Gold Production (koz) sequence 542 506 500 431 469 434 433 413 381 374 315 Biannual shut strategy to improve full plant utilisation H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 opportunities FY15 FY16 FY17 FY18 FY19 FY20 AISC ($/oz) 1,239 1,154 1,085 1,086 890 779 913 810 812 925 857 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 FY15 FY16 FY17 FY18 FY19 FY20

Challenging Telfer site but focused on Gold Production (koz) improving 275 245 243 219 222 performance 216 209 215 237 182 164 and costs H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 FY15 FY16 FY17 FY18 FY19 FY20 AISC ($/oz) 1,391 1,380 1,347 1,298 1,227 1,169 760 824 955 979 1,026 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 FY15 FY16 FY17 FY18 FY19 FY20

Declining Gosowong head grade impacted Gold Production (koz) production 197 173 141 134 128 124 102 123 88 76 57 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 FY15 FY16 FY17 FY18 FY19 FY20 AISC ($/oz) 1,494 1,261 1,121 687 825 949 1,076 867 794 651 737 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 FY15 FY16 FY17 FY18 FY19 FY20