Newcrest Mining : Exploration Quarterly Report - 31 December 2021

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Quarterly Exploration Report

For the three months ended 31 December 2021

onlyRed Chris and Havieron drilling continues to expand mineralisation

At Red Chris, drilling continues to expand the footprint and continuity of the higher grade mineralisation at East Ridge.

use	∙ Drilling has expanded mineralisation to the east, hole RC740 returned 156m @ 0.73g/t Au & 0.71% Cu from
1,452m, including 86m @ 1.2g/t Au & 0.97% Cu from 1,522m and hole RC745^^ returned 366m @ 0.45g/t
Au & 0.57% Cu from 728m, including 36m @ 1.4g/t Au & 1.2% Cu from 960m. RC740, located 100m east of
RC745 is one of the most eastern holes drilled to date. Mineralisation remains open to the east.
∙ Holes RC739 and RC748 demonstrated continuity of higher grade. RC739^^ returned 390m @ 0.63g/t Au &
0.48% Cu from 1,088m, including 44m @ 2.0g/t Au & 1.3% Cu from 1,402m. This hole is located 100m east
of RC727 (previously reported, returned 346m @ 1.1g/t Au & 0.79% Cu from 1,046m, including 56m @ 3.5g/t
	Au & 1.8% Cu from 1,336m) and extended the higher grade a further 100m to the east. RC748 returned 452m
	@ 0.60g/t Au & 0.54% Cu from 1,192m including 106m @ 1.2g/t Au & 1.0% Cu from 1,384m. The hole is
	located 100m below RC727 (previously reported) and extended the higher grade mineralisation a further
	100m down dip.
	∙ Drilling to define the extent of the East Ridge mineralised corridor is ongoing.

At Havieron, growth drilling continues to identify high grade extensions to the South East Crescent Zone at depth as well as high grade crescent style mineralisation within extensions of the Eastern Breccia. Highlights include:

personal	∙ South East Crescent extensions more than 250m below the current Mineral Resource estimate continued to
	return high grade results including HAD086W3^^ 44.7m @ 7.1g/t Au & 0.17% Cu from 1,412m including
	20.2m @ 15g/t Au & 0.29% Cu from 1,421m.
	∙ High grade extensions to the Eastern Breccia 200m to the SW of previous drilling include HAD104: 62.5m
	@ 5.9g/t Au & 0.30% Cu from 1,546.5m including 49.4m @ 7.1g/t Au & 0.38% Cu from 1,554.6m. This result
	is the most significant seen outside of the South East Crescent Zone to date, and confirms the potential for
	this separate NW trending Eastern Breccia corridor to host Crescent style high grade mineralisation. Drilling
For	is now focussed on defining the extents of this higher-grade mineralisation which remains open in all
directions.
∙ At the South East Crescent Zone the infill drilling completed validates both geological and grade continuity.
∙ Drill testing of new geophysical targets 2km outside of the Havieron system has commenced.

Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said, "Our drilling results across the quarter continue to demonstrate the quality of our Red Chris and Havieron assets. At Red Chris, results at East Ridge have expanded the footprint of the mineralised corridor, with the latest drilling intersecting higher grade mineralisation within the eastern extents of the prospect. The high grade mineralisation remains open to the east and at depth which provides exciting potential for the resource base at Red Chris to grow over time."

"At Havieron, our exploration continues to demonstrate growth upside, with HAD104 in the Eastern Breccia intersecting the highest grade mineralisation observed to date outside the South East Crescent Zone. This Eastern Breccia corridor sits outside of the Inferred Mineral Resource estimate and confirms the prospectivity of the Havieron region to host additional high grade zones and the significant potential for further resource growth." said Mr Biswas.

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Quarterly Exploration Report to 31 December 2021

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1 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Quarterly Exploration Report to 31 December 2021

Red Chris - Significant results since the September 2021 Quarterly Exploration Report(1):

• RC735^^

1. 240m @ 0.49g/t Au & 0.53% Cu from 888m

• 1. including 102m @ 0.82g/t Au & 0.59% Cu from 1,012m
  1. including 24m @ 1.4g/t Au & 0.68% Cu from 1,068m
• RC739^^
• 1. 390m @ 0.63g/t Au & 0.48% Cu from 1,088m

only		o	including 70m	@ 0.68g/t Au & 0.49% Cu from 1,302m
	o	including 44m	@ 2.0g/t Au & 1.3% Cu from 1,402m
∙	RC740
	o 156m @ 0.73g/t Au & 0.71% Cu from 1,452m

• 1. including 86m @ 1.2g/t Au & 0.97% Cu from 1,522m
  1. including 46m @ 1.6g/t Au & 1.1% Cu from 1,556m
• RC745^^
• 1. 366m @ 0.45g/t Au & 0.57% Cu from 728m

use		o including 58m @ 1.1g/t Au & 1.0% Cu from 958m
	o	including 36m @ 1.4g/t Au & 1.2% Cu from 960m
∙	RC747^^
	o	306m @ 0.28g/t Au & 0.39% Cu from 706m

• 1. including 46m @ 0.77g/t Au & 0.86% Cu from 880m
  1. including 20m @ 1.1g/t Au & 1.2% Cu from 896m
• RC748
• 1. 452m @ 0.60g/t Au & 0.54% Cu from 1,192m

1. including 106m @ 1.2g/t Au & 1.0% Cu from 1,384m o including 98m @ 1.3g/t Au & 1.0% Cu from 1,386m

Havieron - Significant results since the September 2021 Quarterly Exploration Report(1):

personal	∙	HAD053W5^^
		o 119.7m @ 1.2g/t Au & 0.49% Cu from 1,041.4m
	∙	HAD053W6^^
		o 164.3m @ 1.8g/t Au & 0.53% Cu from 1,065m
		o including 14.3m @ 9.7g/t Au & 0.78% Cu from 1,065.7m
	∙	HAD061W1^^
		o 144.7m @ 1.6g/t Au & 0.14% Cu from 856.3m
	∙	HAD085W4
For		o 46.4m @ 11g/t Au & 0.26% Cu from 1,400.6m
	o including 3.9m @ 98g/t Au and 0.04% Cu from 1,402.1m
∙	HAD086W3^^
	o 44.7m @ 7.1g/t Au & 0.17% Cu from 1,412m
	o including 20.2m @ 15g/t Au & 0.29% Cu from 1,421m
	o 48m @ 2.2g/t Au & 0.15% Cu from 1,525m
	o including 26.9m @ 3.7g/t Au & 0.26% Cu from 1,538.1m
∙	HAD086W4^^
		o 102.3m @ 1.5g/t Au & 0.17% Cu from 1,404.3m
	∙	HAD104
		o 62.5m @ 5.9g/t Au & 0.30% Cu from 1546.5m
		o including 49.4m @ 7.1g/t Au & 0.38% Cu from 1,554.6m
	∙	HAD133W4^^
		o 69.8m @ 2.0g/t Au & 0.32% Cu from 1,329.2m

2

For personal use only

• HAD133W5^^

1. 110.4m @ 2.2g/t Au & 0.21% Cu from 1,418.6m

• 1. including 62.8m @ 3.0g/t Au & 0.16% Cu from 1,460.5m
• HAD133W6**
• 1. 168.1m @ 1.9g/t Au & 0.17% Cu from 1,424.6m

• 1. including 43.1m @ 3.7g/t Au & 0.34% Cu from 1,425.9m
• HAD148W1^^
• 1. 89.3m @ 1.3g/t Au & 0.05% Cu from 807.8m
• HAD148W2^^
• 1. 35.4m @ 4.4g/t Au & 0.25% Cu from 938.1m
• HAD149W2^^
• 1. 45.1m @ 6.7g/t Au & 0.06% Cu from 919.5m
• HAD150W1^^
• 1. 140m @ 2.9g/t Au & 0.07% Cu from 909m
• HAD150W2^^
• 1. 113.8m @ 3.4g/t Au & 0.10% Cu from 996.2m

1. including 14.2m @ 20g/t Au & 0.14% Cu from 1,035.8m

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Quarterly Exploration Report to 31 December 2021

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Red Chris, British Columbia, Canada(2)

Red Chris is a joint venture between Newcrest (70%) and Imperial Metals Corporation (30%) which is operated by Newcrest.

The Brownfields Exploration program is focused on the discovery of additional zones of higher grade mineralisation within the Red Chris porphyry corridor, including targets outside of Newcrest's initial Mineral Resource estimate. onlyDuring the period, there were up to eight diamond drill rigs in operation. A further 21,275m of drilling has been completed from 27 drill holes, with all drill holes intersecting mineralisation (except 15 drill holes which were dedicated geotechnical holes). This contributed to a total of 217,349m of drilling from 199 drill holes since Newcrest acquired

its interest in the joint venture in August 2019.

At East Ridge, located adjacent to the East Zone, drilling is ongoing with 18 holes completed and 4 in progress. The f llow up drilling is being completed on a nominal 100m x 100m grid to determine the footprint of the mineralisation and demonstrate the continuity of the higher grade mineralisation. Drilling to date has tested a corridor 800m long and to a vertical extent of 1,000m.

Results for the reporting period include:

	∙	RC735^^
use		o 240m @ 0.49g/t Au & 0.53% Cu from 888m
∙	o including 102m @ 0.82g/t Au & 0.59% Cu from 1,012m
RC739^^
		o including 24m @ 1.4g/t Au & 0.68% Cu from 1,068m
		o 390m @ 0.63g/t Au & 0.48% Cu from 1,088m
		o including 38m @ 1.8g/t Au & 0.71% Cu from 1,244m
		o including 22m @ 2.6g/t Au & 1.0% Cu from 1,246m
		o including 70m @ 0.68g/t Au & 0.49% Cu from 1,302m
		o including 44m @ 2.0g/t Au & 1.3% Cu from 1,402m
	∙	RC740
		o 156m @ 0.73g/t Au & 0.71% Cu from 1,452m
		o including 86m @ 1.2g/t Au & 0.97% Cu from 1,522m
		o including 46m @ 1.6g/t Au & 1.1% Cu from 1,556m
	∙	RC745^^
personal		o 366m @ 0.45g/t Au & 0.57% Cu from 728m
	o including 58m @ 1.1g/t Au & 1.0% Cu from 958m
	o 306m @ 0.28g/t Au & 0.39% Cu from 706m
		o including 36m @ 1.4g/t Au & 1.2% Cu from 960m
	∙	RC747^^
		o including 46m @ 0.77g/t Au & 0.86% Cu from 880m
		o including 20m @ 1.1g/t Au & 1.2% Cu from 896m
	∙	RC748
		o 452m @ 0.60g/t Au & 0.54% Cu from 1,192m

1. including 106m @ 1.2g/t Au & 1.0% Cu from 1,384m o including 98m @ 1.3g/t Au & 1.0% Cu from 1,386m

ForDrilling continues to expand the footprint and continuity of the higher grade. Holes RC740, RC745 and RC735 have extended the corridor to the east, with hole RC740 being the deepest hole drilled to date. Mineralisation remains open to the east and at depth. Holes RC739 and RC748 have demonstrated continuity of the higher grade, by extending higher grade mineralisation 100m to the east and 100m below RC727 (previously reported, returned 346m @ 1.1g/t Au & 0.79% Cu from 1,046m, including 56m @ 3.5g/t Au & 1.8% Cu from 1,336m).

The East Ridge mineralised corridor (>0.4g/t Au and >0.4% Cu) now extends over 800m long, up to 1,000m high and 125m wide, with higher grade (>0.8g/t Au and >0.8% Cu) in several smaller pods over an area 500m high, 400m long and 100m wide.

2 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.
Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Quarterly Exploration Report to 31 December 2021	4

East Ridge is located east of East Zone and is outside of Newcrest's initial Mineral Resource estimate, supporting the potential for resource growth over time. Follow-up drilling is in progress to further define the extent and continuity of this high grade mineralisation.

Approximately 50,000m of growth-related drilling is planned for calendar year 2022 from eight drill rigs.

Refer to Appendix 1 for additional information, and the Drillhole data table for all results reported during the period. onlyuse

personalFigure 1. Schematic plan view map of the Red Chris porphyry corridor spanning East Ridge, East Zone, Main Zone and Gully Zone showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.3g/t Au, 1g/t Au, 0.3% Cu and 1% Cu shell projections generated from a LeapfrogTM model. For

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Quarterly Exploration Report to 31 December 2021

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