NEWCREST MINING LIMITED

PROPERTY LOCATION & ACQUISITION DATE

Project Activities In The 2022 Season

Newcrest Mining

Limited

Head Office, Melbourne, Australia newcrest.com

Contacts

General Inquiries

Leanne Dohy

Superintendent

Social Performance

604 800 9200 leanne.dohy @newcrest.com.au

LEADERSHIP

Greg Norton VP Government Relations 604 566 8778 greg.norton @newcrest.com.au

Environment

Ben Wither VP-Health, Safety, Environment and Permitting ben.wither @newcrest.com.au

In August 2019, Newcrest acquired its 70% interest in, and operatorship of, the Red Chris Mine, located 80 km south of Dease Lake.

In March 2022, Newcrest acquired Pretium Resources, including 100% of the Brucejack Mine, located 65 km north of Stewart.

In June of 2022, Newcrest acquired the Railway, McBride, Todagin and Boomerang properties. The Railway and McBride properties are immediately to the north and Todagin to the south of Red Chris. The Boomerang Property is located approximately 150 km west of Red Chris.

Red Chris Mine – Red Chris is an operating open-pit gold and copper mine. In our 2022 fiscal year, the Red Chris Mine produced 21,000 tonnes of copper and 42,000 ounces of gold.

In October 2021, the Newcrest Board approved the Red Chris Block Cave Pre-Feasibility Study (PFS) to the Feasibility Stage. The PFS confirmed Newcrest’s original investment thesis of unlocking the underground portion of this Tier 1 deposit by leveraging Newcrest’s industry-leading block caving expertise and developing the asset to become a mainstay of Newcrest’s portfolio for decades to come. In 2022, Newcrest continued to progress the Block Cave Feasibility Study as well as the development of the exploration decline. It is noteworthy that installation of the surface infrastructure relating to the decline is substantially complete.

Brucejack Mine – In March 2022, Newcrest completed the acquisition of Pretium Resources, adding the highgrade Brucejack Mine to its portfolio. Brucejack is an operating underground gold and silver mine. Following the acquisition by Newcrest, the mine produced 114,000 ounces of gold during the 2022 fiscal year. A three-phase transformation program commenced during the period with a range of initiatives in progress to maximize the long-term potential and value of the Brucejack Mine and associated district. These initiatives include:

• Roll out of NewSafe and Critical Control Management programs to improve safety.

• A debottlenecking concept study investigating the potential to increase the process plant capacity to between 4,500 and 5,000 tonnes per day.

• Electrification of underground haul truck fleet.

• Capital Expenditure (CAPEX) program under way with construction of heavy-duty equipment shops and warehouse facility.

Exploration Programs – Newcrest enjoyed ongoing exploration success at Red Chris and Brucejack in 2022, with drill results continuing to support the potential for significant resource growth across.

Newcrest was not active on the GJ, Railway, McBride, Todagin or Boomerang properties in 2022.

COMPANY OVERVIEW & UPDATE

Any successes or challenges you’d like to share?

Red Chris Mine Successes

Red Chris achieved its best safety performance on record during the quarter ended December 2022 with a total recordable injury frequency rate (TRIFR) of 1.72 recordable injuries per million hours, reflecting a continued focus on embedding the Critical Control Management process across all high-risk tasks and implementation of the NewSafe program across site.

Tailings Impoundment Area (TIA) construction completed lost time injury (LTI)-free, on budget and ahead of schedule in collaboration with TNDC and Pelly Construction.

Brucejack Mine Successes

On 25 February 2022, Newcrest received the final regulatory approval for the acquisition of Pretium Resources Inc. (Pretium), the owner of the Tier 1 Brucejack Mine, one of the highest-grade operating gold mines in the world. The acquisition was completed on March 9, 2022.

Challenges

In October 2022, a team member from Newcrest’s contracting partner, Procon, was involved in an isolated fatal incident. Operations at Brucejack were temporarily suspended as a result of the incident. During this time, Newcrest completed an extensive safety review across all activities at Brucejack to identify major hazards and corresponding critical controls to prevent all fatalities and life-changing injuries going forward. Additional control verification mechanisms have been established to ensure the critical controls are working effectively.

Regional Successes

Approximately $165,000 in activities and initiatives were funded through Newcrest’s Community Investment Fund across the local Tahltan Communities of Dease Lake, Telegraph Creek and Iskut, BC.

Number of employees working on your project(s)?

As of December 2022, there are 908 direct Newcrest employees at Brucejack and 733 at the Red Chris Mine. Additionally, approximately 200 to 250 contractors are on site at any given time.

Where does the majority of your financing come from year to year? What’s the breakdown of who owns your company and what’s your company’s market cap?

Cash flows from Newcrest’s operations are generally sufficient to fund our ongoing operations. In addition, Newcrest has designed its capital structure to seek to have sufficient liquidity available to meet the group’s financial commitments. Newcrest has a range of debt facilities with external financiers including unsecured committed bilateral bank debt facilities and corporate unsecured senior notes (or ‘bonds’) and has structured these facilities to have varying maturities so that its refinancing obligations are staggered.

As a publicly listed company on the Australian Stock Exchange (ASX) and Toronto Stock Exchange (TSX), Newcrest’s shareholder composition is subject to regular change. Majority of our shares are held by investors in Australia and North America, with substantial but lesser holdings in the UK and the rest of Europe.

At present Newcrest Mining Limited has a market cap of $20.17 billion, as of January 31, 2022.

Tentative plans and hopes for the 2023 season?

Red Chris Mine

The 2023 fiscal year continues to be an investment year for Red Chris as the stripping program continues in the open pit and the Block Cave Feasibility Study progresses.

The drilling program at East Ridge continued to define the extent and continuity of higher-grade mineralization during the quarter. East Ridge is outside of Newcrest’s Mineral Resource estimate and recent results expand the vertical extent of the mineralization within an exploration target announced in 2022.

Development of the Block Cave exploration decline has advanced to 2,685 m as of January 18, 2023. Installation of the first ventilation raise bore is progressing in line with expectations.

Brucejack Mine

The eighth and final Sandvik Z50 battery electric truck is due to arrive in Brucejack during the first quarter of 2023. In addition, Brucejack is expected to commence a trial of the battery electric load haul dump scoops in the same quarter.

Drilling continues at the Valley of the Kings deposit and surrounding area.

A debottlenecking concept study is underway to investigate Newcrest’s proposal to increase process plant capacity from the currently permitted rate of 3,800 tonnes per day to between 4,500 and 5,000 tonnes per day.

RELATIONSHIP WITH THE TCG & TAHLTAN NATION

During the 2022 season, what involvement did TCG personnel and departments have with your company? If they were not involved, why not?

In 2022 there was involvement and interaction with Tahltan Central Government (TCG) staff members from different departments, as well as Executive Committee members of the TCG.

• TCG’s Communications & External Relations Director, Ombrielle Neria, worked with Newcrest’s departments of Social Performance and Government Relations and the Project Advisory Committee (PAC) attendance. The two departments worked on various items together, including discussing engagement schedules for the TIA and Block Cave meetings and follow up materials, identifying engagement expectations, setting up tours at Red Chris Mine for Tahltan Leadership and TCG staff, setting a standard for how information is shared with the TCG.

• TCG’s Lands Director, Connor Pritty, worked with Newcrest’s Environment Department, Social Performance and Government Relations and PAC attendance.

• TCG’s Cultural & Heritage Director, Sandra Marion and Language Director, Pamela Labonte, worked with Newcrest’s Social Performance, on Cultural Awareness training development. The Cultural Director is working with the staff of Social Performance from Newcrest to communicate the ongoing development of the TCG’s Cultural Sensitivity training, of which Newcrest plans to use once available from the TCG.

• TCG’s Membership Director, Shannon Frank, worked with Newcrest’s Human Resources and Social Performance. The Membership Director has ongoing conversations and communication with the Human Resources (HR) Department of Red Chris Mine to verify membership of Tahltan and Associate members with respect to hiring.

• TCG’s Wildlife Department staff have met with Newcrest’s Environment Department.

• TCG’s Executive worked with Newcrest’s Chief Executive Officer (CEO), and Chief Operating Officer (COO), Board of Directors, Social Performance and Government Relations. TCG’s Executive have met with Newcrest’s Senior Leadership over the course of the year, as well as visited our operations in Cadia. This was trip was hosted by Newcrest personnel from Government Relations. Members of the TCG’s Executive Committee also attended a PAC meeting in November of 2022, as well as meeting the Newcrest Board of Directors in June of 2022 in Dease Lake, BC.

• TCG’s Executive Director met with the Impact Benefit and Co-Management Agreement (IBCA) PAC, Social Performance and Government Relations. The Executive Director of the TCG is an officially appointed member of the PAC for Red Chris Mine.

• TCG’s Education & Training Director, Cassandra Puckett, worked with Human Resources and Social Performance. The Education & Training Director has been involved with the Social Performance team as well as the HR team to discuss expectations and potential collaboration around training initiatives via the Impact, Benefit and Co-Management Agreement (IBCA) as well as early talks about the potential underground development workforce transition.

• TCG’s Employment & Business Director, Ann Ball, met with Newcrest’s Commercial Department, Human Resources, Social Performance, Mine General Manager (GM), and Government Relations. Weekly meetings occur with both departments. The Employment & Business Director has weekly meetings with the Red Chris Mine’s HR Team and the Commercial Team, to monitor progress on initiatives related to the IBCA, as well as discuss potential opportunities within the employment and contracting areas. There is also regular communication with the Government Relations Department.

As per the IBCA and the PAC there were two PAC meetings with various staff and Leadership from TCG as well as senior managers and regional leadership from Newcrest Mining participating. The PAC meetings were supplemented with numerous engagements of an Environmental Oversight Committee, Technical Block Cave subcommittee, and Social Cultural Committee. These committees included representatives from both TCG and Newcrest.

In 2022, how many Tahltans did you employ? What positions did they hold in your company and what percentage of Tahltans did you employ compared to others?

Red Chris Mine

As of December 2022, 137 Tahltan and Tahltan Associates were directly employed by Newcrest Red Chris Mining. In addition, there were approximately 90 Tahltans and Tahltan Associates employed by major contractors on site. Some of the positions that are held are:

• Heavy equipment operators

• Lead hand, mine operations

• Shovel operators

• Mill maintenance planner

• Community investment coordinator

• Human resource officer

• Journeyperson millwright

• Journeyperson gas fitter

• Journeyperson welder

• Journeyperson carpenter

Brucejack

• PM maintenance

• Mill operators and labourer

• Gate monitor

• Community liaisons

• Environmental technician

• Community and environment coordinator

• Operational technologies specialist

• Supervisor tailings dam construction

• Journeyperson instrumentation mechanic

• Senior advisor, government relations

What employment opportunities, now and in the future, are available to Tahltan members?

All open positions at Brucejack and Red Chris are communicated to the TCG via Ontrack and the Employment & Business Department as well as posted on Newcrest’s website at: newcrest.com/careers/ current-opportunities. Opportunities are available across all departments and include a broad spectrum of skill and experience levels. Current postings include:

• Journeyperson millwrights

• Apprenticeships in 2023

• Haul truck driver

• Asset protection support officer

• Purchaser

• General trainer

• Supervisor mill operation

• Human resource advisor

• Human resource administrator

• Heavy duty mechanic

There are 35 Tahltans working at the Brucejack project, either as employees of Newcrest or major contractors. Positions held included:

• Mechanic, lead hand

• Mill Operator 4

• Surface operations, lead hand

• Mine surveyor, Sr

• Heavy duty mechanic

• Mill Operator 1

• Journeyman welding fabricator

• Mill Operator 1

• Mill Operator 3

• Mill Operator 3

• Surface labourer

• Industrial hygiene advisor, Jr

• Miner Trainee 1

• Welder apprentice

• Newcrest mining graduate program

• Tool crib attendant

• Red seal carpenter

• Manager-Respect@ work

Why should Tahltan members want to work for you?

Newcrest offers rewarding careers in many different fields with opportunity for advancement while building a high-performing, inclusive and psychologically safe workplace that has a place for everyone.

We acknowledge that we work and are located in Tahltan Territory, and value our partnership with the Tahltan Nation, Tahltan governments and the Tahltan people.

Did you have any Tahltan contractors working for your company?

Yes, Newcrest contracts with the Tahltan Nation Development Corporation (TNDC) and their joint venture (JV) partners as well as some short-term contracts with smaller Tahltan businesses. TNDC partnerships active at one or both of Newcrest’s operations in 2022 included:

• Hytech Drilling (drilling);

• Arrow Transport (concentrate hauling);

• Yellowhead Helicopters (helicopter services);

• Barminco (underground development);

• Central Mountain Air (air charter);

• Northern Spirit Transportation (ground charter);

• Northwest Fuels (fuel provision);

• TNDC (earthworks, road maintenance);

• Pelly Construction (earthworks); and

• Sodexho (camp services).

At Brucejack, the TNDC/Procon partnership was the largest single contract for that operation.

Do you have any outside contractors working for you? If so, who are they? Who were the primary contractors you utilized? Do they offer employment opportunities to Tahltan members?

All of our contractors offer opportunities for local and Tahltan employment. We actively encourage contractors to engage local workforces and maintain this as a contractual requirement for our partners. In these cases, where Newcrest utilizes outside contractors, there is a standard clause within our documents that specifically requests contractors to work with our Tahltan partners in the spirit of the IBA and put forward a Tahltan Participation Plan (in relation to jobs/careers) with their proposal for the work for our review and evaluation prior to the award of the work.

Anything else you would like to share with the Tahltan Nation?

Executive Announcement, CEO, CFO and COO

On December 19, 2022, Newcrest announced the retirement of Managing Director and Chief Executive Officer (CEO) Sandeep Biswas and Newcrest’s Chief Financial Officer (CFO), Sherry Duhe assumed the role of Interim CEO. A global internal and external search for a new CEO is underway, with an appointment expected to be made in 2023. Sandeep remains available in an advisory capacity during the transition period, ahead of his retirement on March 18, 2023.

Dan O’Connell has been appointed Interim CFO. Dan is a senior executive with more than 20 years’ experience in finance, including more than a decade at Newcrest across accounting and finance, tax, business, and commercial performance, most recently as Newcrest Group Treasurer.

Chief Operating Officer (Americas) Craig Jones has assumed responsibility for all of Newcrest’s operations on an interim basis with Chief Operating Officer (Australasia) Phil Stephenson leaving Newcrest on December 31, 2022. To provide continuity and ongoing support alongside the management team, Peter Tomsett has increased his involvement in the business during the transition period.