Newcrest Mining : September 2021 Interim Exploration Update

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Exploration Update

9 September 2021

Highlights

• At Red Chris, drilling continues to expand the higher grade mineralisation intersected at East Ridge, with thisnew discovery adjacent to the East Zone continuing to return high grade intercepts, supporting the potential for resource growth.

1. RC705 returned 254m @ 1.0g/t Au & 1.1% Cu from 718m, including 80m @ 1.6g/t Au & 1.4% Cu from 852m. This hole is located 100m above RC678 (previously reported) and demonstrates continuity over 300m vertically.

• 1. As noted in Newcrest's June 2021 Quarterly Exploration Report, East Ridge is located outside of Newcrest's Red Chris initial Mineral Resource estimate. Mineralisation remains open to the east and at depth, with ongoing drilling to define the extent.
• At Havieron, growth drilling continues to outline high grade mineralisation outside of the initial Inferred Mineral Resource estimate.
• 1. HAD133W1 located in the South East Crescent, has returned 133m @ 7.0g/t Au & 0.05% Cu from 1,446m, including 55.9m @ 9.7g/t Au & 0.04% Cu from 1,449.5m, ~250m below the initial Inferred Mineral Resource estimate.

1. Higher grade zones in the Northern Breccia to the north west of the initial Inferred Mineral Resource estimate were confirmed, with HAD140 returning 29.1m @ 9.7g/t Au & 0.29% Cu from 813.2m and HAD141 returning 87m @ 1.8g/t Au & 0.05% Cu from 1,328m including 17.8m @ 5.7g/t Au & 0.14% Cu from 1,378.5m.

Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said "We are excited by our continued exploration success at Red Chris and Havieron, with our extensive growth drilling programs delivering a number of new high grade intercepts in the period. At Red Chris, results from our new East Ridge discovery demonstrate the continuity of mineralisation along strike and at Havieron we intersected several new high grade intercepts outside of the initial Inferred Mineral Resource estimate, including HAD133W1 which returned 133m @ 7.0g/t Au. These results continue to support the potential for resource growth outside of the existing resource shells."

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

• RC705

1. 254m @ 1.0g/t Au & 1.1% Cu from 718m

• 1. including 182m @ 1.3g/t Au & 1.3% Cu from 764m
  1. including 80m @ 1.6g/t Au & 1.4% Cu from 852m
• RC709
• 1. 166m @ 0.4g/t Au & 0.49% Cu from 788m

• 1. including 54m @ 0.89g/t Au & 0.96% Cu from 894m
  1. including 30m @ 1.1g/t Au & 1.1% Cu from 902m
• RC718
• 1. 298m @ 0.33g/t Au & 0.45% Cu from 820m

1. including 52m @ 0.67g/t Au & 0.75% Cu from 1,062m

1 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.
Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Exploration Update 9 September 2021	1

Havieron - Significant growth drilling results since the June 2021 Quarterly Exploration Report(2):

• HAD133W1

1. 133m @ 7.0g/t Au & 0.05% Cu from 1,446m

• 1. including 55.9m @ 9.7g/t Au & 0.04% Cu from 1,449.5m
• HAD057W7
• 1. 23m @ 5.7g/t Au & 0.70% Cu from 613m

• 1. including 15m @ 8.6g/t Au & 0.96% Cu from 613m
  1. 70m @ 2.2g/t Au & 0.03% Cu from 906m
  1. including 12.8m @ 5.3 g/t Au & 0.02% Cu from 962.7m
• HAD140
• 1. 29.1m @ 9.7g/t Au & 0.29% Cu from 813.2m
• HAD141
• 1. 87m @ 1.8g/t Au & 0.05% Cu from 1,328m

1. including 17.8m @ 5.7g/t Au & 0.14% Cu from 1,378.5m

Red Chris, British Columbia, Canada(2)

Red Chris is a joint venture operated by Newcrest and in which Newcrest has a 70% interest.

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. During the period, there were up to eight diamond drill rigs in operation. A further 14,490m of drilling has been completed from 18 drill holes, with all drill holes intersecting mineralisation (except eleven which were dedicated geotechnical holes). This contributed to a total of 181,176m of drilling from 155 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 14 holes completed and six in progress. The follow 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.

Results for the reporting period include:

• RC705 (drilled 100m above of RC678 previously reported) returned 254m @ 1.0g/t Au & 1.1% Cu from 718m, including 80m @ 1.6g/t Au & 1.4% Cu from 852m.
• RC708 (drilled 100m above of RC700 previously reported) returned 232m @ 0.16g/t Au & 0.26% Cu from 754m.
• RC709 (drilled 100m west of RC678) returned 166m @ 0.4g/t Au & 0.49% Cu from 788m, including 30m @ 1.1g/t Au & 1.1% Cu from 902m.
• RC713 (drilled 100m above RC705) returned 190m @ 0.26g/t Au & 0.41% Cu from 574m, including 28m @ 0.57g/t Au & 0.74% Cu from 712m, and
• RC718 (drilled 100m east of RC700 previously reported) returned 298m @ 0.33g/t Au & 0.45% Cu from 820m, including 52m @ 0.67g/t Au & 0.75% Cu from 1,062m

Drilling to date has demonstrated continuity of the East Ridge zone (>1g/t AuEq) over dimensions of 400m high, 400m long and 125m wide, with the higher grade (>2g/t AuEq) over 300m high, 300m long and 100m wide.

East Ridge is located 300m east of East Zone and is outside of Newcrest's initial Mineral Resource estimate, supporting the potential for resource growth over time. Mineralisation is open to the east and at depth and extends the eastern side of the porphyry corridor as shown in Figures 1 and 2. Follow-up drilling is in progress to further define the extent and continuity of this high grade mineralisation.

A step out hole, RC701 drilled 700m east of East Ridge has extended the porphyry corridor beyond the limit of the East Ridge drilling. This hole returned 206m @ 0.2g/t Au & 0.49% Cu from 1,816m. The intercept is one of the deepest on the property. Drilling is planned for the zone between East Ridge and RC701 to search for additional high grade zones.

2 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.
Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Exploration Update 9 September 2021	2

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

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

Figure 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). 0.5g/t Au, 1g/t Au, 1 g/t AuEq and 2g/t AuEq shell projections generated from a Leapfrog model. Gold equivalent (AuEq) grade calculated using a copper conversion factor of 1.67 ([gold grade (g/t)] + [copper grade (%) x 1.67]), using US$1,400/oz Au, US$3.40/lb Cu and 100% recovery. It is the Company's opinion that all elements included in this metal equivalents calculation have a reasonable potential to be recovered and sold.

Figure 2. Long section view of the Red Chris porphyry corridor showing drill hole locations and gold distribution.

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Exploration Update 9 September 2021

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Figure 3. Oblique schematic section view of the Red Chris porphyry corridor showing gold distribution. 0.5 g/t Au, 1 g/t Au ,1g/t AuEq and 2g/t AuEq shell projections generated from the LeapfrogTM model. Gold equivalent (AuEq) grade calculated using a copper conversion factor ([gold grade (g/t)] + [copper grade (%) x 1.67]) using US$1,400/oz Au, US$3.40/lb Cu, and 100% recovery. It is the Company's opinion that all elements included in this metal equivalents calculation have a reasonable potential to be recovered and sold.

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Exploration Update 9 September 2021

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Havieron Project, Western Australia(3)

The Havieron Project is operated by Newcrest under a Joint Venture Agreement with Greatland Gold. As announced on 30 November 2020, Newcrest has now met the Stage 3 expenditure requirement (US$45 million) and is entitled to earn an additional 20% joint venture interest, resulting in an overall joint venture interest of 60% (Greatland Gold 40%). Newcrest can earn up to a 70% joint venture interest through total expenditure of US$65 million and the completion of a series of exploration and development milestones (including the delivery of a Pre-Feasibility Study) in a four-stagefarm-in over a six year period that commenced in May 2019. Newcrest may acquire an additional 5% interest at the end of the farm-in period at fair market value. The Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program, Feasibility Study and a positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer.

The Havieron Project is centred on a deep magnetic anomaly located 45km east of Telfer in the Paterson Province. The deposit is overlain by more than 420m of post mineral Permian cover. A further 10,375m of drilling has been completed from 18 drill holes, all awaiting assays. Results from 12 holes completed in the June 2021 quarter have been received, with eight holes returning significant assay intercepts in excess of 50 gram metres Au (Au ppm x length m). A total of 194,456m of drilling from 230 drill holes has been completed since Newcrest commenced exploration activity (excluding holes in progress, abandoned holes, or drill holes which have not been sampled).

Drilling in the reporting period was focused on potential resource growth at the South East Crescent, Northern Breccia and Eastern Breccia, and infill drilling the South East Crescent Zone to support the potential conversion of the Inferred Resource to Indicated. Drilling completed included:

• South East Crescent Zone Growth - assay results reported for two drill holes, one new drill hole completed, awaiting assays.
• South East Crescent Zone Infill - 10 new drill holes completed, awaiting assays.
• Northern Breccia - assay results reported for eight drill holes, four new drill holes completed, awaiting assays.
• Eastern Breccia - assay results reported for two drill holes, three new drill holes completed, awaiting assays.

At the South East Crescent, drilling targeting higher grade mineralisation at depth was conducted during the reporting period. Drilling is being conducted on 75m x 75m spacing and has been extended to 250m below the initial Inferred Mineral Resource extents. Results from two drill holes have been received, with significant results returned from HAD133W1.

Results include:

• HAD133W1

1. 133m @ 7.0g/t Au & 0.05% Cu from 1,446m

1. including 55.9m @ 9.7g/t Au & 0.04% Cu from 1,449.5m o including 20m @ 11g/t Au & 0.04% Cu from 1,519m

HAD133W1 has extended the high-grade mineralisation ~250m below the base of the Inferred Mineral Resource estimate. This intercept is ~150m below previously reported hole HAD133^^ (85m @ 11g/t Au & 0.29% Cu from 1,345m including 13m @ 32g/t Au & 0.46% Cu from 1,363m and including 14.5m @ 32g/t Au & 0.33% Cu from 1,396.5m). Assay results from one further hole HAD086W2 is pending. Drilling to assess the extent of the mineralisation below the South East Crescent Inferred Resource is ongoing.

HAD057W7 drilled to test lower target positions in the Northern Breccia also traversed the South East Crescent Zone within the initial Inferred Mineral Resource footprint. Results from this hole demonstrates good alignment with modelled grade and thickness within the South East Crescent zone, and supports the geological model including continuity of high grade.

3 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.
Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Exploration Update 9 September 2021	5