Newcrest Mining : Quarterly Report - June 22

o June quarter gold production of 637koz2 and copper production of 39kt, resulting in FY22 gold production of 1,956koz and copper production of 121kt

o June quarter All-InSustaining Cost (AISC) of $896/oz2, delivering an AISC margin of $958/oz3 o FY22 AISC of $1,044/oz, delivering an AISC margin of 41% or $732/oz3 for the financial year o Cadia achieved its lowest ever annual AISC of negative $124/oz

Advancing multiple organic growth options

o Brucejack transformation program progressing well; uplift road map update expected in August 20224

o Two-stageCadia Expansion Project and Lihir Front End Recovery Project on track for completion by the end of September 20224

o Cadia PC1-2Feasibility Study is expected to be released in the September 2022 quarter4

o Red Chris Block Cave and Havieron Stage 1 Feasibility Studies on track, with works advancing on both projects

o Strong drilling results at Brucejack, Red Chris and Havieron continue to expand the high grade footprints Creating a brighter future for people through safe and responsible mining

o Newcrest Sustainability Fund of A$10 million has been established, driving social investments in support of the United Nations Sustainable Development Goals

o Respect@Work program continues with a dedicated team focused on actions to prevent and eliminate any form of sexual assault and sexual harassment in the workplace

FY22 gold production guidance achieved, with record Cadia All-InSustaining Cost performance1

Quarterly Report

For the three months ended 30 June 2022

(figures are unaudited and in US$ except where stated)

onlyStrong final quarter delivers FY22 gold production guidance at lower cost



use

personal

Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said, "Newcrest delivered a strong fourth quarter to achieve our group gold production for the year. Over the last four quarters we have steadily increased our gold and copper production, driving lower group All-In Sustaining Costs and delivering a record breaking annual cost

Forperformance at Cadia. We were particularly pleased to record a fourth consecutive quarter of lower group costs during this challenging inflationary environment."

"The three phase transformation program at Brucejack continues to progress well and we have a range of initiatives underway to maximise the long-term potential of this asset and district. We are on track to provide an update on our Brucejack uplift road map, together with the outcomes of the Cadia PC1-2 Feasibility Study, later this quarter."

"Our Respect@Work program continued to progress during the quarter with Newcrest focused on creating a workplace where everyone feels safe, respected and valued. We also established our Newcrest Sustainability Fund this month, highlighting our commitment to achieving a better and more sustainable future for all our people, and the wider communities in which we operate."

"As we move into FY23, we will continue to progress our exciting pipeline of organic growth projects, remaining focused on superior operational performance with an unwavering commitment to the health and safety of our people." said Mr Biswas.

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Quarterly Report to 30 June 2022

1

$/lb

$/t

AUD:USD

PGK:USD

CAD:USD

1,796

$/oz

876

$/oz

1,278

$/oz

$/oz

99113

1,529

809

1,828

4.54

10,009

0.7237

0.2840

0.7892

1,12013

1,865

588

1,743

4.37

9,634

0.7285

0.2849

0.7934

1,26913

1,949

406

1,722

4.24

9,348

0.7354

0.2846

0.7944

2.3

91113,14

mhrs

4.2

896

1,268

958

1,854

4.31

9,502

0.7160

0.2834

0.7842

3.9

1,044

1,595

732

1,797

4.36

9,612

0.7260

0.2843

0.7903

3.212

3.712

4.612

0

0

0

0

0

0

Number

- gold

oz

- gold

- copper

oz

t

-

9,527

4,675

34,533

-

10,674

5,475

34,452

oz

- gold

24,0137

8,463

4,226

38,933

187,677

115,362

18,207

163,937

112,726

3,536

174,555

109,005

15,213

141,089

100,993

3,838

223,9007

149,568

23,287

169,486

96,388

3,521

oz

t

oz

oz

t

oz

oz

t

637,032

38,671

435,587

186,766

28,676

212,932

97,443

3,008

90,408

13,678

6,987

35,805

2,093,322

142,724

944,521

764,895

106,402

737,082

416,138

13,177

-

45,922

23,145

129,285

1,956,182

120,650

1,021,719

560,702

85,383

687,445

407,550

13,904

114,421

42,341

21,363

143,723

- gold

- copper

- silver

- gold

- copper

- gold

- gold

- copper

436,085

26,418

396,214

24,527

486,8517

31,035

FY21

FY22

Metric

Mar

2022 Qtr

Dec

2021 Qtr

Sep

2021 Qtr

Jun

2022 Qtr

540-610koz

85-95kt

~700koz

390-440koz

~15kt

95-115koz

40-42koz

23-25kt

140-145koz

1,925-2,025koz

125-130kt

FY22

Guidance6

Overview

Newcrest achieved gold production guidance for FY22, with copper production 3% lower than FY22 guidance, predominantly driven by lower mill throughput at Red Chris and Telfer. Full year AISC was 2% higher than FY22 guidance due to lower copper production and a lower realised copper price, timing of Cadia copper sales and higher production stripping at Lihir and Telfer. Market guidance for FY23 will be released with the Full Year results on 19 onlyAugust 2022 and will outline Newcrest's views of the risk of cost inflation on AISC and capital expenditure, and the

associated mitigation strategies underway.

Gold production was 31% higher than the prior period5 driven by higher mill throughput and gold head grade at both Lihir and Cadia, and the addition of a full quarter of production from Brucejack. Gold production was also higher at Red Chris and Telfer compared to the prior period.

Newcrest's AISC for the June 2022 quarter of $896/oz2 was 10% lower than the prior period, driven by higher gold and copper sales volumes, and lower site operating costs on a dollar per ounce basis with higher production. There was also an additional benefit of a weakening Australian dollar against the US dollar on Australian dollar denominated

useoperating costs. These benefits were partly offset by a lower realised copper price compared to the prior period. Injury rates were higher than the prior period at Cadia, Telfer and Red Chris. The Safe Hands intervention program continues to focus on reducing the risk of hand injuries across Newcrest sites. Injury rates were reviewed during the q arter with previously reported frequency rates at Lihir, Cadia, Red Chris and the Group restated following an update to working hours in FY22 at Lihir, and an internal review of injury classifications at Cadia and Red Chris.

personalGroup2

Cadia

Lihir

Telfer

Brucejack8

Red Chris9

Fruta del Norte2,10

ForFatalities

TRIFR11

All-In Sustaining Cost2

All-In Cost15

All-In Sustaining Cost margin3

Realised gold price16

Realised copper price16

Realised copper price16

Average exchange rate

Average exchange rate

Average exchange rate

3.66

8,069

0.7467

0.2854

0.7789

All figures are shown at 100%, except for Red Chris which is shown at Newcrest's 70% share and Fruta del Norte which is shown at Newcrest's 32% attributable share through its 32% equity interest in Lundin Gold Inc.

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Quarterly Report to 30 June 2022

2

Operations
Cadia, Australia
Highlights		Metric	Jun	Mar	Dec	Sep			FY22
	2022 Qtr	2022 Qtr	2021 Qtr	2021 Qtr	FY22	FY21	Guidance
only
TRIFR11		mhrs	11.5	4.712	7.712	9.2	8.3	6.1
Total production	- gold	oz	186,766	149,568	115,362	109,005	560,702	764,895	540 - 610koz
	- copper	t	28,676	23,287	18,207	15,213	85,383	106,402	85 - 95kt
Head Grade	- gold	g/t	0.94	0.86	0.83	0.82	0.87	0.95
	- copper	%	0.43	0.40	0.38	0.35	0.39	0.40
Sales	- gold	oz	191,734	126,441	119,314	105,541	543,029	766,118

		- copper	t	31,195		19,581	18,226	14,886	83,888		105,444
use	All-In Sustaining Cost				(315)						(124)
			$/oz			(205)	(19)	203			(109)
		All-In Sustaining Cost margin17	$/oz	2,169		2,033	1,762	1,519	1,921		1,905

Cadia's TRIFR of 11.5 recordable injuries per million hours was higher than the prior period, mainly driven by hand injuries. Cadia is focused on improving injury rates with the Safe Hand intervention program now underway, supported by visible safety leadership across the site. Injury rates in the March 2022 and December 2021 quarters were restated

following an internal review of injury classifications at Cadia.

personalGold production of 187koz was 25% higher than the prior period driven by higher mill throughput with lower planned nd unplanned maintenance during the period. In addition, gold head grade increased in the quarter with a higher

proportion of high grade stockpile fed to the mill, as well as higher grade ore feed from Panel Cave 2 during the quarter.

Cadia's AISC of negative $315/oz reflects the benefit of higher gold and copper sales volumes, partly offset by a lower realised copper price. Cadia continues to manage the impacts of cost inflation, assisted by its fixed-price electricity c ntract which was extended in mid-2021 to the end of FY24, protecting Cadia from the recent increases in spot and contract electricity prices. The Power Purchase Agreement with the Rye Park Wind Farm is also expected to commence in 2024, which will help Cadia manage longer-term energy price risks.

Copper concentrate shipments were disrupted by the partial closure of the rail network in New South Wales following h avy rainfall in April and again in early July, however stock levels are expected to return to normal volumes during the September 2022 quarter4.

The Molybdenum Plant continued to ramp up during the quarter with the first molybdenum concentrate shipment delivered in June 2022.

The Cadia PC1-2 Feasibility Study is expected to be released by the end of September 20224. The early works Forp ogram is progressing well with development activities, raise boring and preliminary earthworks for construction of

the primary ventilation fans commencing in the quarter.

The two-stage Cadia Expansion Project is also on track for completion by the end of September 20224. First production from Panel Cave 2-3 is expected during the first half of FY23 and mill throughput rates are expected to start ramping up towards 35Mtpa in the December 2022 quarter4,18.

Cadia has commenced planning for the long-term continuation of mining operations known as the Cadia Continued Operations Project (CCOP). Community consultation is ongoing in relation to the key aspects of the CCOP, including a proposed development consent for a new Tailings Storage Facility adjacent to the current Southern Tailings Storage Facility, continued underground mining in the Cadia East area, additional off-site water storage and realignment of local roads19.

As highlighted in the March 2022 quarterly report, Newcrest settled an insurance claim in April 2022 in relation to the Northern Tailings Storage Facility slump on 9 March 2018. Settlement funds of US$75 million were received during the quarter.

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Quarterly Report to 30 June 2022

3

Lihir, Papua New Guinea
Highlights		Metric	Jun	Mar	Dec	Sep			FY22
	2022 Qtr	2022 Qtr	2021 Qtr	2021 Qtr	FY22	FY21	Guidance
TRIFR11		mhrs	0.6	2.112	1.012	1.112	1.2	0.3
Production	- gold	oz	212,932	169,486	163,937	141,089	687,445	737,082	~700koz
only
Head Grade	- gold	g/t	2.54	2.33	2.17	2.32	2.35	2.40
Sales	- gold	oz	206,262	162,271	161,877	135,582	665,993	773,146
All-In Sustaining Cost		$/oz	1,409	1,533	1,679	1,986	1,622	1,391
All-In Sustaining Cost margin17	$/oz	445	295	64	(264)	175	405

Lihir's TRIFR of 0.6 recordable injuries per million hours was lower than the prior period reflecting the effectiveness of usesite safety campaigns, with a recent focus on hand safety. A review of total working hours in FY22 was completed during the quarter resulting in revised injury rates for the March 2022, December 2021 and September 2021 quarters.

Gold production of 213koz was 26% higher than the prior period, largely driven by higher mill throughput following completion of scheduled plant maintenance shutdowns in March 2022 and a reduction in unplanned downtime. Gold head grade also increased in the quarter reflecting additional higher grade expit ore feed from Phase 15 as mining continued to progress into the orebody.

Mining volumes increased by 24% during the quarter with Lihir delivering a record total material movement for a personalquarter. Higher mining rates are expected to continue in FY23 in line with the mining improvement program. Consistent with previous years, gold production is anticipated to be lower in the September 2022 quarter with the major plant

shutdown scheduled in September 2022.

Lihir's AISC of $1,409/oz was 8% lower than the prior period which was largely driven by higher gold sales volumes, partly offset by additional Phase 16 & 17 production stripping and higher sustaining capital expenditure relating to the Phase 14A Feasibility Study.

The number of COVID-19 cases at Lihir remained very low during the period with the site continuing to successfully manage the 'endemic' phase of COVID-19. There were no material COVID-19 related disruptions to production, although Lihir did experience some supply chain challenges and interruptions to some project activities, with efforts made to minimise their impact on the overall cost and schedule.

Newcrest continued to progress the Phase 14A Feasibility Study during the period with ground support, upper drainage and shotcrete works completed and first medium grade ore delivered to the mill. The findings of the Feasibility Study are now expected to be released in the December quarter 20224.

The Lihir Front End Recovery Project is on track for completion during the September 2022 quarter4. The project aims to lower gold loss through the flotation circuits by generating a high-grade flash flotation concentrate from the High ForGrade Ore 1 (HGO1) grinding circuit. Construction of structures, equipment and services are nearing completion and the new electrical substation is currently being commissioned. Commissioning of the processing facilities is expected

to commence in the September 2022 quarter4.

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Quarterly Report to 30 June 2022

4

Lihir - Material Movements
Ore Source	Metric	Jun	Mar	Dec	Sep
2022 Qtr	2022 Qtr	2021 Qtr	2021 Qtr	FY22	FY21
Ex-pit crushed tonnes	kt	2,104	1,363	1,273	604	5,345	5,379
Ex-pit to stockpile	kt	1,966	2,357	610	1,037	5,969	3,283
only
Waste	kt	6,522	4,813	7,058	8,601	26,994	24,805
Total Ex-pit	kt	10,591	8,533	8,942	10,242	38,308	33,467
Stockpile reclaim	kt	1,222	1,711	1,881	1,781	6,594	7,752
Stockpile relocation	kt	3,390	2,981	2,240	2,831	11,443	12,493
Total Other	kt	4,612	4,692	4,121	4,612	18,038	20,244
Total Material Moved	kt	15,203	13,225	13,063	14,854	56,346	53,712
use
Lihir - Processing
Equipment	Metric	Jun	Mar	Dec	Sep
		2022 Qtr	2022 Qtr	2021 Qtr	2021 Qtr	FY22	FY21
Crushing	kt	3,326	3,074	3,154	2,450	12,004	13,130
Milling	kt	3,411	2,975	3,241	2,584	12,212	12,792
Flotation	kt	2,490	2,271	2,541	2,107	9,410	9,876
personalFor
Total Autoclave	kt	2,067	1,763	1,814	1,354	6,998	6,954

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Quarterly Report to 30 June 2022

5