Half Year Results FY22
(figures are in US$ except where stated)
Newcrest advances profitable growth agenda1,2,3,4,5

Creating a brighter future for people through safe and responsible mining
More than six years fatality free
Development of the Group Net Zero Emissions Roadmap is currently in progress
Rollout of Respect@Work program continues under a dedicated project team
On track to deliver Group FY22 guidance6
Statutory profit and Underlying profit of $298 million7,8
All-In Sustaining Cost (AISC) of $1,194/oz8,9 delivering an AISC margin of $502/oz8,10
Cash flows from operating activities of $423 million
Advancing Newcrest's global organic growth portfolio
Newcrest Board approved the Cadia PC1-2, Red Chris Block Cave, Havieron Stage 1 and Lihir Phase 14A Pre-Feasibility Studies to the Feasibility Stage with works advancing on all projects
Approval received for Cadia to increase its permitted processing capacity to 35Mtpa11
West Dome Stage 5 cutback underway, supporting the continuity of operations at Telfer
Major increases across Mineral Resources and Ore Reserves separately announced today, including an increase in gold Ore Reserves by 10% to 54 million ounces12,13
Newcrest to acquire Pretium Resources Inc., owner of the Brucejack mine in British Columbia14
Addition of a Tier 1 large scale, long life, low cost mine to Newcrest's unrivalled portfolio of assets
Immediate increase in Newcrest's gold production by 300koz pa to well above 2Moz6,12,15,16
Accretive to Newcrest's EBITDA and cash flow
Immediate operational and financial diversification in a Tier 1 jurisdiction
Growth in a region where Newcrest already operates and has strong existing relationships
Significant near mine and district-scale exploration opportunity with exciting potential to realise resource and reserve growth
Transaction approved by Pretivm securityholders, with completion expected in the March 2022 quarter14
Strong balance sheet and delivering strong shareholder returns
Strong balance sheet well within financial policy targets, with net debt of $469 million, leverage ratio of 0.2 times and a gearing ratio of 4.5% at 31 December 2021
Significant liquidity at 31 December 2021 with $3.2 billion in cash and committed undrawn bank facilities
Sale of royalty asset portfolio generated $37.5 million
Total dividends paid in the current period of US 40 cents per share
Fully franked interim dividend of US 7.5 cents per share
Melbourne, Australia--(Newsfile Corp. - February 16, 2022) - Newcrest Mining Limited (ASX: NCM) (TSX: NCM) (PNGX: NCM) Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said, "We have taken a big step forward in our profitable growth agenda during the first half of FY22. The depth and quality of our global organic growth portfolio was demonstrated through the announcement of the findings of the Cadia PC1-2, Red Chris Block Cave, Havieron Stage 1 and Lihir Phase 14A Pre-Feasibility Studies. Each of these studies indicate excellent rates of return and we are projecting a material growth in our operating margin and cash flow over the next decade. Progressing each one of these studies makes compelling financial sense and we are excited by the significant potential beyond the base case projections."

"Strategic, value-adding M&A has been a feature of our growth in recent years and we are also looking forward to completing the Pretium Resources transaction this quarter and adding the world class Brucejack mine to our unrivalled portfolio of assets. The addition of Brucejack will drive a material increase in Mineral Resources, Ore Reserves, annual gold production and cash flows, enhancing the quality of our portfolio for many years to come. We will have exposure to six Tier 1 orebodies, five of which will be operating and, pleasingly, we will continue to maintain our long reserve life advantage compared to our peers."

"The transaction will enable Newcrest to expand in one of the premium gold districts in the world and increase our production to well over two million ounces of gold per year until at least 2030. We are confident that our long life, high margin production will be delivered at an extremely competitive All-In-Sustaining Cost."

"The outlook for the commodities that we mine is strong, and we have additional opportunities to further enhance our gold and copper production profile. Our team continues to pursue the potential for further open pit and underground opportunities to extend the life of Telfer, the development of Wafi-Golpu and potentially Namosi, all of which represent upside opportunity to our current base case projections."

"We have also progressed plans to expand Cadia during the period, Red Chris and Havieron continue to deliver exceptional drilling results, and we are already working with the Pretivm team to drive further shareholder value at Brucejack. We also safely delivered the replacement and upgrade of the SAG mill motor at Cadia, which is now operating at full capacity, setting us up for a strong second half of FY22 and beyond for Cadia."

"Safety remained our top priority with zero fatalities recorded, we progressed our sustainability agenda and continued to deliver initiatives as part of our ambition to build an inclusive workplace culture, where all our people can thrive and excel, including through the rollout of our Respect@Work program. Our balance sheet remains strong and we are well positioned to both support our growth projects and deliver shareholder returns during this growth phase."

"Following a solid start to the financial year, Newcrest is well placed to deliver a strong second half, to continue to pursue profitable growth, and to progress our Forging an Even Stronger Newcrest plan," said Mr Biswas.

Summary of Operating and Financial Results
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