Newmont Corporation

and welcome to Newmont's second quarter 2026 results conference call. All participants will be in listen only mode. After today's presentation, there will be an opportunity to ask questions. Please note, this event is being recorded. I would now like to turn the conference over to Newmont's Group Head of Treasury and Investor Relations, Neil Backhouse. Neil, please go ahead.

Thank you, Holly. Hello, everyone, and thank you for joining Newmont's second quarter 2026 results conference call. Joining me today are Natascha Viljoen, our president and chief executive officer, Brian Tabolt, our newly appointed executive vice president and chief financial officer, as well as other members of our management team who will be available to answer questions at the end of the call. Before we begin, please take a moment to review our cautionary statement shown here and refer to our SEC filings, which can be found on our website. I'll turn the call over to Natascha.

Thank you Neil and hello everyone. To begin today's call I'd like to start by acknowledging the executive leadership appointments we announced last month, reflecting the depth and talent we have within Newmont and reinforcing our commitment to building a future ready organization with the leadership capabilities needed to execute our strategy. Together these appointments strengthen our financial, operational, technical and project development expertise that will help us deliver consistent performance and steward our world-class portfolio. Brian Tabolt has been appointed as Executive Vice President and Chief Financial Officer. Since joining Newmont in 2021, Brian has held several senior finance roles, helping to strengthen financial oversight, integrated planning and capital allocation priorities across the business. Most recently, Brian served as the chief accounting officer and group head finance and brings more than 20 years of experience to the role. I also want to recognize and thank Peter Wexler, who served as interim CFO over the past year, providing steady leadership and continuity during an important period for Newmont, and we are grateful for the discipline and commitment he brought to the position. Mark Rodgers has been appointed as Executive Vice President and Chief Operating Officer. Mark joined Newmont in 2020 and has held senior leadership roles across several regions, most recently as Managing Director for Africa and Asia Pacific. Mark has over 30 years of experience in the industry and as Chief Operating Officer he will lead performance across our 12 managed operations with a strong focus on safe, consistent delivery and operational excellence inclusive of health, safety, security and environment. Dave Thornton has been appointed as Executive Vice President and Chief Technical Officer. Dave has more than 25 years of mining experience and joined Newmont in 2016, where he has since held leadership roles across North and South America and Africa, most recently serving as the Managing Director of the Americas. In his new role, he will lead the technical services team, bringing together exploration, mining and mine planning, processing, asset management and digital capabilities to strengthen technical excellence in support of operational and project performance. and finally, David Fry has been promoted to the newly created position as Executive Vice President, Project Development. David joined Newmont in 2022 and most recently served as Group Head, Global Projects. He brings significant international project delivery experience across mining, energy and infrastructure sectors and will continue to focus on disciplined execution as we advance our highest return growth opportunities. These appointments reflect the confidence we have in the people who know our business best. Together with existing team members, Peter Wexler, Peter Toth, and David Lager, they have helped shape the company we are today and share accountability for delivering the plans that define our future. Executing our strategy, advancing our world-class portfolio, and leading with cost and capital discipline. With that, I will turn now to our second quarter highlights. Newmont delivered a strong second quarter and remains on track to achieve a full year 2026 guidance, supported by disciplined execution across the portfolio and continued momentum as we head into the second half of the year. Beginning with our operational performance, In the second quarter, we produced 1.3 million ounces of gold, 17,000 tons of copper and 7 million ounces of silver from the full portfolio. The performance supported $2.9 billion of cash flow from operations after working capital and a second quarter record of $2.2 billion in free cash flow. Since our last earnings call and including share repurchases in July, we have returned approximately $1.9 billion to shareholders through quarterly dividends and ongoing share repurchases. I also want to highlight that we have now repurchased over 100 million shares since we began our share repurchase program a little over two years ago. This is a meaningful milestone that Brian will discuss later in the call. During the quarter, we also achieved several important milestones within our portfolio. First, at Redcrest, the Blockhive project received key regulatory approvals from the province of British Columbia. This includes an amended environmental assessment certificate achieved through a consent-based process with the Taltan nation, reflecting the strength of our partnerships and shared commitment to advancing the project responsibly. With these approvals in place, we are focused on completing the feasibility study and advancing the project toward board approval and final investment decisions for this promising new project. We made significant progress on the recovery efforts at Kaidia following the seismic event that occurred on April 14th. Production from the operating caves resumed in mid-June and the team is working to complete the remaining ground support upgrades. Development rights at PC1-2 have returned to normal levels and we are working to secure the regulatory approvals required to safely restart cave establishment at both of the project's caves later in the year. We continue to expect no impact on Newmont's full year production guidance. Collectively, our second quarter results continue to demonstrate the strength of Newmont's portfolio and its ability to convert solid operational performance into significant free cash flow and returns to our shareholders. Turning now to the operational drivers supporting our full year outlook. Our second quarter operational performance was modestly ahead of the expectations we communicated in April, primarily due to certain ounces being realized earlier than expected, driving some third quarter production forward into the second quarter. The most notable drivers were Yanakocha, where ounces were produced earlier than planned, and Liu, which delivered a stronger quarter as results of the ongoing asset reliability work at this world-class operation. Together, these assets delivered approximately 50,000 ounces of production that was initially expected in the second half of the year. During the quarter, we also benefited from a stable performance from our Nevada Gold Mines joint venture. Taking these results into account, we now expect approximately 49% of full year production to have been delivered in the first half, with 51% expected in the second half. Looking ahead, we expect third quarter production for the total portfolio to be broadly in line with the second quarter, before picking up again in the fourth quarter, which is still expected to be our strongest of the year as Lihir completes planned maintenance in the third quarter and our half-hour north reaches its full run rate. Shifting now to cost. We remain focused on controlling our absolute cost base to maximise margins and continue supporting strong free cash flow. As we signalled last quarter, higher oil prices contributed to the expected increase in second quarter cost. However, even after absorbing that pressure, both cost applicable to sales and all in sustaining costs remain firmly within our full year guidance ranges, reflecting the continued discipline and cost and productivity initiatives we have been implementing across the portfolio. To make the work that we've been doing more tangible, I want to highlight a few examples. We have parked nearly 50 mining production units across the portfolio without affecting production. At Cerro Negro, more efficient pre-start activities have increased underground productive time by approximately 15% per shift. At Ahofo North, we have made targeted investments to operationalize and improve milling efficiency. And at Merion, we have improved road conditions and overall wet weather preparedness to optimize existing equipment performance during the rainy seasons. Across the portfolio, we continue to reduce contract utilization where possible. These are practical, site-led actions that collectively improve productivity and help offset external cost pressures. Finally, our capital spent for 2026 is on track to land within the guidance ranges that we set at the beginning of the year. Starting with sustaining capital, we now expect spending to be approximately 58% weighted towards the second half of the year, primarily due to the timing of key programs at Boddington and Cadio, ongoing ventilation work at Tanami, and seasonal surface construction at Bruce Jack and Redcrest during the warmer summer months in British Columbia. Development capital is now expected to be 63% weighted to the second half, reflecting the timing of work at our key projects in execution, as well as the progression of feasibility study work at RECRIS. At Kaidea, development spending is expected to increase as work recommences at the Panel Cave projects following the April seismic event. Adlihir, mobilization of the near shore barrier will ramp up in the third quarter, unlocking access to more than 5 million ounces beginning in 2028. And the second expansion at Tanami continues to progress to plan with all underground infrastructure expected to be completed by the end of the third quarter. With that, I will now turn it over to Brian to review our financial performance and capital allocation priorities. Brian, over to you.