Newmont Corporation (NEM) Q4 2025 Financial Results Summary

DENVER, February 19, 2026 – Newmont Corporation (NYSE: NEM, ASX: NEM, PNGX: NEM) has reported its fourth quarter and full year 2025 financial results, declaring a quarterly dividend of $0.26 and providing guidance for 2026.

Financial Highlights for 2025

• Production and Costs:
  • Gold Production: Achieved 5.7 million ounces from core operations, totaling 5.9 million ounces.
    • Production was down 14% year-over-year.
  • Silver Production: Maintained at 28 million ounces.
  • Copper Production: 135,000 tonnes.
  • Gold by-product AISC: Reported at $1,358 per ounce (down 4%), while co-product AISC was $1,609 per ounce (up 6%).
• Financial Performance:
  • Net Income: Reported at $7.2 billion – a 112% increase from the previous year.
  • Adjusted Net Income: At $7.6 billion or $6.89 per diluted share.
  • Adjusted EBITDA: $13.5 billion (up 55%).
  • Cash from Operations: $10.3 billion, with a record $7.3 billion in free cash flow for the year (up 150%), including $2.8 billion in Q4.
• Returning Capital to Shareholders:
  • Total Capital Returned to Shareholders: $3.4 billion through share repurchases and dividends.
  • Newmont’s share repurchase program totaled $3.6 billion since its initiation, with $2.4 billion remaining under the authorized amount of $6.0 billion.
  • The quarterly dividend of $0.26 will be payable on March 26, 2026, to shareholders on record by March 3, 2026.
• Debt Management:
  • Reduced debt by $3.4 billion during 2025, closing the year with a net cash position of $2.1 billion, comprising $7.6 billion in cash and total liquidity of $11.6 billion.

Operational Successes

• Commercial Production: Commenced at Ahafo North in Ghana on October 24, 2025, adding profitable production over an initial thirteen-year mine life.
• Developed New Projects: Approved the Lihir Nearshore Barrier mine life extension, unlocking access to over 5 million ounces of gold, extending the mine life beyond 2040.
• Reserves and Resources:
  • Declared total gold reserves of 118.2 million ounces and resources of 148.7 million ounces.
  • Increased exposure to other metals with 12.5 million tonnes of copper reserves and 442 million ounces of silver reserves.

2026 Guidance

• Production Expectations: Approximately 5.3 million gold ounces, including over 3.9 million ounces from managed operations.
• Cost Forecasts:
  • Gold by-product AISC anticipated at $1,680 per ounce.
• Capital Plans:
  • Sustaining capital spend of about $1.95 billion to enhance the integrity of Newmont’s portfolio.
  • Development capital spend estimated at $1.4 billion to advance near-term projects such as Cadia Panel Caves and Tanami Expansion 2.

Summary of Key Metrics

Note: All amounts are in billions.

Metric	2025	Year-over-Year Change
Net Income	$7.2 billion	+112%
Adjusted Net Income	$7.6 billion	+91%
Free Cash Flow	$7.3 billion	+150%
Gold Production	5.9 million oz	-14%
AISC (Gold by-product)	$1,358/oz	-4%
Quarterly Dividend Declared	$0.26	New
Total Debt Reduction	$3.4 billion	New

This report consolidates a milestone year for Newmont, showcasing significant operational and financial achievements amidst a challenging market landscape while setting a strong foundation for 2026.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in millions except per share)

Note: All amounts are in millions.

CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions)

Note: All amounts are in millions.