CIBC 18th Annual Whistler Institutional Investor Conference 2015

CIBC 18th Annual Whistler Institutional Investor Conference
Laurie Brlas, Executive Vice President and CFO
January 21-24, 2015

Cautionary Statement
CIBC 18th Annual Whistler Institutional Investor
Conference, January 21 - 24, 2015
Cautionary statement regarding forward looking statements, including outlook:
This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other
applicable laws. Such forward-looking statements may include, without limitation: (i) estimates of future production and sales; (ii) estimates of future
costs applicable to sales and All-in sustaining costs; (iii) estimates of future capital expenditures and development capital; (iv) plans and
expectations relating to savings, reductions in costs and expenditures, efficiency improvements and optimization; (v) expectations relating to
decisions regarding future exploration, expansion or development projects; (vi) expectations regarding the development, growth and upside potential
of operations and projects, including, without limitation, mine plans, ramp-up, first production, anticipated strip ratios, recovery rate and other project
metrics; (vii) expectations regarding the future receipt of approvals, permits and licenses, including, without limitation, export approvals; (viii)
expectations regarding the out-coming of ongoing negotiations, and (ix) expectations regarding financial flexibility, project funding, cash retention,
free cash flow and portfolio optimization. Forward-looking statements often include words such as "anticipates," "estimates," "expects," "projects,"
"intends," "plans," "believes" and words and terms of similar substance in connection with discussions of future operating or financial performance.
Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. Such assumptions,
include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions;
(ii) permitting, development, operations and expansion of the Company’s projects being consistent with current expectations and mine plans; (iii)
political developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) certain exchange rate
assumptions for the Australian dollar to the U.S. dollar, as well as other exchange rates being approximately consistent with current levels; (v)
certain price assumptions for gold, copper and oil; (vi) prices for key supplies being approximately consistent with current levels; and (vii) the
accuracy of our current mineral reserve and mineral resource estimates. Where the Company expresses or implies an expectation or belief as to
future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements
are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or
implied by the “forward-looking statements.” Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations,
increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, political and operational risks,
community relations, conflict resolution and outcome of projects or oppositions and governmental regulation and judicial outcomes. For a more
detailed discussion of such risks and other factors, see the Company’s 2013 Annual Report on Form 10-K, filed on February 21, 2014, with the
Securities and Exchange Commission (“SEC”), as well as the Company’s other SEC filings. The Company does not undertake any obligation to
release publicly revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of
this presentation, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should
not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued
reliance on “forward-looking statements” is at investors' own risk.
2

Why Newmont
3
• Industry leading safety performance
• Optimized asset portfolio with stable
production and cash flow base with a
focus on value over volume
• Global portfolio with industry leading
project pipeline
• Continuing trajectory of sustainable
cost and efficiency improvement that
offset inflation
• Strong balance sheet and disciplined
capital allocation
• Positioning to thrive across cycles
Delivering on our commitments
Turf Vent Shaft site view

0.72
0.64
0.46
0.49 0.49
0.40
0.50
0.47
0.32
0.41
0.00
0.20
0.40
0.60
0.80
Q2
2012
Q3
2012
Q4
2012
Q1
2013
Q2
2013
Q3
2013
Q4
2013
Q1
2014
Q2
2014
Q3
2014
Industry leading safety performance
Total recordable accident frequency rate (per 200,000 hours worked)
4
0.47
1.04
0.0
0.5
1.0
1.5
Newmont Peer
Average
TRAFR: Newmont vs.
ICMM (2013)

South America:
Yanacocha
Conga
Merian
Maximizing productivity and efficiency across portfolio
Operations
Projects
North America:
Carlin
Turf Vent Shaft
Phoenix
Twin Creeks
Africa:
Ahafo
Akyem Australia / New
Zealand:
Boddington
KCGM
Tanami
Waihi/Correnso
Indonesia:
Batu Hijau
NEM market data (1/15/2015):
Market cap: $10.7 billion
Enterprise value: $18.4 billion
# of operations: 11
2013A Revenue: $8.3 billion
2013A Attrib. Production: 5.1 Moz Au
% of 2014E
gold production
North America:
34%
South America:
12%
Australia/
New Zealand: 35%
Indonesia:
1%
Africa:
19%
5

$58
$117
$164
$291
$0
$100
$200
$300
$400
$500
$600
$700
2014 YTD*
Cost and efficiency improvements total $630M YTD
General &
Administrative
/Other**
Advanced Projects
& Exploration
Sustaining Capital
CAS improvements
$630M
*2014 year-to-date savings reflects comparison of 9-months ended 09/30/14 versus 9-months ended 09/30/13. Non-GAAP metric. See slide 27 for reconciliation.
**Includes Remediation, Treatment and Refining Costs, and Other Expense, net.
6
• Corporate overhead reduced 13% after right-
sizing headquarters
• Adv. Projects & exploration reduced 32%;
focused on highest margin opportunities
• Ahafo: sustaining capital reduced 33% due
to slower mining rate, less equipment to
replace
• Ahafo: CAS reduced 19% after re-aligning
mining and milling rates
• Boddington: CAS reduced 26% following
reduced mill downtime and throughput
improvements
Nearly $1.7B of savings since 2012
Examples of improvementsAdjusted cash AISC savings4 ($M)

Diagnose
DesignDeliver
Full Potential Process
7
• Identify solutions
• Design implementation
plans
• Project management
tracking
Full
Potential
Approach
• Efficiency opportunities
identified and prioritized
• Launch quick wins
• Implement
• Monitor
performance
• Transfer skills
for ongoing
continuous
improvement
• Share knowledge
across Newmont

Portfolio Optimization: Newmont’s Rate and Rank approach
Overview
Purpose &
Uses
Mechanics
• Helps inform capital allocation
decisions
• Revised as needed to ensure
strategic alignment
• Systematic means to compare
assets against one another
• Compares internal operations
and projects vs. external assets
• Excel-based tool that calculates
metrics and ranks options
• Utilizes business plan data and
external analysis
Maintain
(e.g.,
Carlin)
De-risk
(e.g., Conga)
Improve value
(e.g., Tanami)
Close or divest
(e.g., Midas,
Jundee,
La Herradura)
Value
Portfolio Approach
HighLow
Risk
High Low
8

9 Months 2014 9 Months 2013
Revenue ($M) $5,275 $6,226
Adjusted Net Income ($M)2 $459 $480
Adjusted Net Income ($ per share)2 $0.92 $0.97
Cash from Continuing Operations ($M) $889 $1,175
Free Cash Flow ($M) $123 ($353)
Position the business across cycles
9 Months 2014 9 Months 2013
Average Realized Gold Price ($/oz) $1,282 $1,442
Average Realized Copper Price ($/lb) $2.75 $2.95
Attributable Gold Production (Koz) 3,584 3,617
Gold CAS ($/oz) $733 $774
Gold AISC1 ($/oz) $1,031 $1,140
Gold AISC1 down 10% YTD*
Average gold price down 11% Y-O-Y with $472 million improvement in free cash flow*
9
*Year-to-date figures reflect 9-months ended 09/30/14 versus 9-months ended 09/30/13.

Total Newmont All-in
Sustaining Costs
2014 2015 2016
South America Indonesia
Total Newmont Cost
Applicable to Sales
Africa
Australia/New Zealand
Projecting stable costs and production
2014 2015 2016
Attributable gold production outlook (Moz)3
4.7 – 5.0
4.5 – 4.8
4.8 – 5.1
$1,020 – $1,080 $1,000 – $1,080 $985 – $1,085
AISC7 and CAS outlook ($/oz)3
North America
$710 – $750 $690 – $740 $720 – $760
10

Turf Vent Shaft
Ahafo Mill
Expansion
Ahafo
North
Subika
Underground
Greater Leeville
Chaqui Sulfides
Long Canyon
Phase 1 Merian
Exodus
Bull Moose
Yanacocha
Sulfides
Quecher
Exploration /
Conceptual
PrefeasibilityScoping
Feasibility /
Engineering
Execution
Longboat in SurinameSouth AmericaNorth America Africa Australia/New Zealand
Federation
Conga
Tanami
Expansion
Strong project pipeline drives long-term value creation
Correnso
11

Merian: New district in Suriname with upside potential
Strong feasibility and economics*
• Low strip ratio of 3:1 over LOM
• Capital Costs: $0.9B – $1.0B
• Production: 400 – 500 koz per year
• Gold CAS: $650 – $750/oz
• Gold AISC: $750 – $850/oz
• Gold Reserves of 4.2Moz5 at 1.22 g/t
Funding
• Government of Suriname acquired 25%
fully-funded equity stake in early November
Exploration upside
• Agreement covers 500,000 hectares with
promising exploration results
*Capital costs reported on a 100% basis with approximately $100 million sunk to date. Metrics are reported as first
five year average unless otherwise noted. CAS and AISC are escalated assuming 3-4% inflation. See endnotes 5
and 6 for more information.
12

Free cash flow positive across price fluctuations
2015 contingency planning
$1,200/oz gold $1,100/oz gold $1,000/oz gold
• Operating costs and sustaining
capital optimized to maintain
positive free cash flow
• Development capital prioritized for
Merian, Tanami Expansion, Long
Canyon Phase 1, and Ahafo Mill
Expansion
• Exploration spend focused on
near-mine and high value targets
• Support costs reduced across
business
• $0.10 dividend paid per annum
• Debt repayment of up to $750
million made
• Continue with Merian
development; reprioritize earlier
stage projects based on value
metrics
• Maintain cost savings to offset
inflation
• Reduce sustaining capital spend
• Generative exploration reduced
• Further reduce support costs
across business
• No dividend payments per policy
• Debt repayment of $166 million
made
• Continue with Merian
development; potentially slow
development of earlier stage
projects
• Assess and potentially defer
highest cost laybacks
• Further reduce sustaining capital
spend
• Exploration focused on
brownfields and near mine
opportunities
• Further reduce support costs
across business
• No dividend payments per policy
• Debt repayment of $166 million
made
13

Leader in EBITDA metrics*
Last Twelve Months EBITDA per share
$5.71
4.1x 4.4x 5.6x 6.1x 6.4x
7.8x 8.5x
10.5x 10.7x
Anglogold
Kinross
Barrick
Harmony
Newmont
Newcrest
PeerAverage
Buenaventura
Yamana
AgnicoEagle
Goldcorp
Enterprise value / Last Twelve Months EBITDA
15.1x
11.8x
*Data source: Capital IQ; EBITDA data as of 09/30/2014, enterprise value as of 1/15/15.
$4.52 $4.19 $3.94
$3.13
$2.10 $1.84
$1.26 $1.01
$0.58 $0.48
Newmont
AngloGold
Goldcorp
Barrick
AgnicoEagle
PeerAverage
Newcrest
Buenaventura
Kinross
Yamana
Harmony
14

Labor 50%
Power 10%
Diesel 10%
Consumables
10%
Materials /
Parts 20%
Conservative plan with upside leverage
• For every -$10 per barrel change in oil price, CAS decreases approximately $7.00 to
$8.00 per ounce with leverage increasing as hedges roll off
• For every -0.05 change in the Australian dollar, CAS decreases approximately $8.00 to
$9.00 per ounce with leverage increasing as hedges roll off
*All other variables held constant (i.e. FCF for flexed gold price does not include changes to copper price, AUD or WTI). Economics assume a 35% portfolio tax rate. Includes impacts from the Nevada Diesel and
AUD hedge programs.
2015E operating cost breakdown2015 sensitivities*
2015 Plan
Price
Change
Increment
Consolidated
FCF (US$M)
Attributable
FCF (US$M)
Gold ($/oz) $1,200 +$100 +$350 +$300
Copper
($/lb)
$2.75 +$0.25 +$100 +$50
Australian
Dollar
$0.90 -0.05 +$40 +$40
Oil ($/bbl) $100 -$10 +$30 +$20
15

Gold price linked dividend
• Additional leverage for shareholders above $1,200/oz gold price
• Targeting 20-25% of free cash flow for dividends, reserving the remainder for
projects and paying down debt
$0.10 $0.20
$0.40
$0.60
$0.80
$1.00
$1.20
$1.40
$1.60
$1.80
$2.00
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
<$1,200
$1,200-$1,299
$1,300-$1,399
$1,400-$1,499
$1,500-$1,599
$1,600-$1,699
$1,700-$1,799
$1,800-$1,899
$1,900-$1,999
$2,000-$2,099
$2,100-$2,199
$2,200-$2,299
Annualized dividend per share (US$)*
*For illustrative purposes, declaration of dividend remains subject to Board of Directors approval.
16

-
220
799
44
1,303
1,500
600
1,100
1,000
2015
2016
2017
2018
2019
Column1
2022
Column2
2035
2039
2042
Ghana PTNNT Corporate Debt
Maintaining investment grade credit rating
Scheduled debt repayments ($M)
• Long-dated maturity with favorable terms
• No significant debt until 2019
• Revolver has one financial covenant; maximum net debt to book capital of 62.5%
compared to 27.9% as of 30 September 2014
166
17

Q1 2015 Q2 2015 Q3 2015 Q4 2015 2016
Upcoming catalysts highlight profitable growth
Carlin welding shop, Nevada
• Decision to
proceed with
Subika
Underground
• Merian first
production
expected
• Turf Vent
Shaft first
production
• Correnso
production
expected
• FY14 results
published
• FY14 reserve
and resource
update
published
• Decision to
proceed with
Long Canyon
Phase 1
• Decision to
proceed with
Tanami
Expansion
• Phase 6
higher grade
ore sourced
at Batu Hijau
• Decision to
proceed with
Ahafo Mill
Expansion
18

Charting a course to lead in value creation
Where Newmont is Today Where Newmont is Heading
Safety Industry-leading safety performance Zero injuries and illnesses
Portfolio
Optimization
Nets $1.4B; focus shifted from volume to value
New mines improve portfolio value,
life, costs and risk profile
Cost
Improvements
$1.6 billion in cost, efficiency and technical
improvements achieved since early 2013
Ongoing improvements more than
offset inflation
All-in sustaining
cost7 $1,031/ounce* At or below $1,000/ounce
Free Cash Flow $123 million in free cash flow generated in 2014* Expanding free cash flow generation
Profitable growth Growth through profitable near-mine expansions
New district potential realized in
Suriname and Nevada
Balance sheet
strength and
market returns
Dividend policy funded through free cash flow; five
quarters of meeting or beating street expectations
First quartile total shareholder returns
*YTD through Q3 2014.
19

Key development projects
Carlin welding shop, Nevada
Mine / Project Location Stage Initiative
Merian6 Suriname Execution
• Approved the Merian project for development (07/24/14)
• Gold reserves of 4.2Moz; average first five years annual production of 400,000 to
500,000 Au at competitive costs
• First production expected late 2016
Turf Vent Shaft Nevada Execution
• On time and on budget with first expected production in late 2015
• Expected to add between 100,000 and 150,000 ounces per year
Correnso
New
Zealand
Execution
• Working closely with the community to ensure successful development of new
underground mine expansion
• Development extends Waihi life with commercial production expected in 2015
Long Canyon Nevada Feasibility
• Phased approach to development
• Potential to deliver about 150,000 ounces Au production per year at competitive
costs in Phase 1
• Decision to proceed expected in early 2015
Tanami
Expansion
Australia Pre-feasibility
• Development extends the life of the mine
• Potential to add about 50,000 to 60,000 ounces of production (1st 5 years avg)
• Decision to proceed expected in 1H/2015
Ahafo Mill Ghana Pre-feasibility
• Increase throughput and help counter lower-grade ore
• Potential to add about 100,000 to 200,000 ounces of production
• Decision to proceed expected in 2015
Subika
Underground
Ghana Pre-feasibility
• Improve ore grade and add about 150,000 to 200,000 ounces of annual
production in Ghana
• Decision to proceed expected in late 2015 or early 2016
21

2014 Outlooka as of October 30, 2014
a The outlook ranges presented herein
represent forward looking statements, which
are subject to certain risks and uncertainties.
See cautionary statement at the end of this
presentation on slide 29. Additionally,
individual site ranges in the table above may
not sum to total regional or Company levels to
provide for portfolio flexibility.
b Non-GAAP measure, see endnote 1 on
slide 29.
c Includes Lone Tree operations.
d Includes GTRJV operations.
e Both consolidated and attributable
production are shown on a pro-rata basis with
a 44% ownership interest for La Herradura (up
until closing of the sale on October 6, 2014)
and a 50% ownership for KCGM.
f Consolidated production for Yanacocha is
presented on a total production basis for the
mine site; whereas attributable production
represents a 51.35% ownership interest.
g La Zanja and Duketon are not included in
the consolidated figures above; attributable
production figures are presented based upon
a 46.94% ownership interest at La Zanja and
a 19.45% ownership interest in Duketon.
h Consolidated production for Batu Hijau is
presented on a total production basis for the
mine site; whereas attributable production
represents 48.5% ownership interest in 2014
and an expected 44.5625% ownership
interest in 2015- 2016 outlook (which
assumes completion of the remaining share
divestiture in early 2015). Outlook for Batu
Hijau remains subject to various factors,
including, without limitation, renegotiation of
the CoW, issuance of future export approvals
following the expiration of the six-month
permit, negotiations with the labor union,
future in-country smelting availability and
regulations relating to export quotas, and
certain other factors.
See endnote 8.
Consolidated
Production
Attributable
Production
Consolidated CAS All-in Sustaining
Costs
b
Consolidated
Capital
Expenditures
(kozs, kt) (kozs, kt) ($/oz, $/lb) ($/oz, $/lb) ($M)
North America
Carlin 850 - 930 850 - 930 $830 - $900 $240 - $265
Phoenixc
200 - 220 200 - 220 $655 - $715 $30 - $35
Twin Creeksd
360 - 400 360 - 400 $500 - $550 $110 - $120
La Herradurae
115 - 125 115 - 125 $700 - $750 $20 - $30
Other North America $25 - $35
Total 1,550 - 1,650 1,550 - 1,650 $730 - $790 $990 - $1,080 $425 - $465
South America
Yanacochaf
910 - 990 470 - 510 $700 - $770 $85 - $100
La Zanjag
60 - 70
Other South America $200 - $220
Total 910 - 990 530 - 580 $700 - $770 $1,020 - $1,110 $280 - $300
Australia/New Zealand
Boddington 665 - 725 665 - 725 $880 - $960 $85 - $95
Tanami 330 - 360 330 - 360 $700 - $765 $85 - $95
Jundee 138 - 140 138 - 140 $610 - $620 $15
Waihi 130 - 140 130 - 140 $560 - $610 $15 - $20
KCGMe
310 - 340 310 - 340 $850 - $930 $30 - $35
Duketong
45 - 50
Other Australia/NZ $5 - $10
Total 1,575 - 1,675 1,625 - 1,725 $790 - $860 $970 - $1,050 $230 - $255
Batu Hijau, Indonesiah
55 - 65 25 – 35 $1,090 - $1,200 $1,430 - $1,560 $65 - $70
Africa
Ahafo 415 - 440 415 - 440 $540 - $590 $95 - $110
Akyem 440 - 480 440 - 480 $370 - $410 $15 - $25
Total 855 - 920 855 - 920 $450 - $490 $650 - $700 $115 - $130
Corporate/Other $15 - $20
Total Gold 5,100 - 5,400 4,725 - 5,000 $710 - $750 $1,020 - $1,080 $1,150 - $1,220
Phoenix 15 - 25 15 - 25 $2.10 - $2.30
Boddington 25 - 35 25 - 35 $2.50 - $2.70
Batu Hijauh
65 - 75 30 - 40 $3.15 - $3.45
Total Copper 120 - 125 80 - 90 $2.80 - $3.10 $3.50 - $3.80
22

2014 – 2016 Outlooka as of October 30, 2014
2014 Expense Outlook
General & Administrative $175 - $200
Other Expense $150 - $175
Interest Expense $325 - $350
DD&A $1,210 - $1,320
Exploration and Projects $370 - $410
Sustaining Capital $910 - $1,000
Tax Rate 17% - 22%
2014 2015 2016
Production (koz, kt)
Consolidated Gold 5,100 - 5,400 5,100 - 5,450 5,370 - 5,700
Attributable Gold 4,725 - 5,000 4,500 - 4,750 4,800 - 5,100
Consolidated Copper 120 - 125 250 - 270 210 - 220
Attributable Copper 80 - 90 140 - 150 120 - 140
CAS ($/oz, $/lb)
North America $730 - $790 $720 - $790 $650 - $710
South America $700 - $770 $560 - $615 $770 - $840
Australia/New Zealand $790 - $860 $865 - $950 $850 - $925
Batu Hijau, Indonesia $1,090 - $1,200 $440 - $500 $440 - $500
Africa $450 - $490 $695 - $760 $730 - $800
Total Gold $710 - $750 $690 - $740 $720 - $760
Total Copper $2.80 - $3.10 $1.30 - $1.60 $1.35 - $1.65
AISC ($/oz, $/lb)
North America $990 - $1,080 $960 - $1,040 $810 - $890
South America $1,020 - $1,110 $900 - $990 $1,180 - $1,290
Australia/New Zealand $970 - $1,050 $1,040 - $1,140 $985 - $1,075
Batu Hijau, Indonesia $1,430 - $1,560 $610 - $680 $600 - $670
Africa $650 - $700 $875 - $995 $885 - $965
Total Gold $1,020 - $1,080 $1,000 - $1,080 $985 - $1,085
Total Copper $3.50 - $3.80 $1.75 - $2.05 $1.85 - $2.15
Capital Expenditures ($M)
North America $425 - $465 $420 - $460 $250 - $280
South America $280 - $300 $600 - $655 $420 - $455
Australia/New Zealand $230 - $255 $220 - $245 $190 - $210
Batu Hijau, Indonesia $65 - $70 $125 - $140 $125 - $140
Africa $115 - $130 $80 - $90 $80 - $90
Total $1,150 - $1,220 $1,500 - $1,600 $1,180 - $1,250
23

All-in sustaining costs
Newmont has worked to develop a metric that expands on GAAP measures such as cost of goods sold and non-GAAP measures to provide visibility into the economics of our mining operations related to
expenditures, operating performance and the ability to generate cash flow from operations.
Current GAAP-measures used in the mining industry, such as cost of goods sold, do not capture all of the expenditures incurred to discover, develop, and sustain gold production. Therefore, we believe that
All-in sustaining costs and attributable All-in sustaining costs are non-GAAP measures that provide additional information to management, investors, and analysts that aid in the understanding of the economics
of our operations and performance compared to other producers and in the investor’s visibility by better defining the total costs associated with production.
All-in sustaining cost (“AISC”) amounts are intended to provide additional information only and do not have any standardized meaning prescribed by GAAP and should not be considered in isolation or as a
substitute for measures of performance prepared in accordance with GAAP. The measures are not necessarily indicative of operating profit or cash flow from operations as determined under GAAP. Other
companies may calculate these measures differently as a result of differences in the underlying accounting principles, policies applied and in accounting frameworks such as in International Financial Reporting
Standards (“IFRS”), or by reflecting the benefit from selling non-gold metals as a reduction to AISC. Differences may also arise related to definitional differences of sustaining versus development capital
activities based upon each company’s internal policies.
The following disclosure provides information regarding the adjustments made in determining Newmont’s All-in sustaining costs measure:
Cost Applicable to Sales - Includes all direct and indirect costs related to current production incurred to execute the current mine plan. Costs Applicable to Sales (“CAS”) includes by-product credits from certain
metals obtained during the process of extracting and processing the primary ore-body. CAS is accounted for on an accrual basis and excludes Amortization and Reclamation and remediation, which is
consistent with our presentation of CAS on the Condensed Consolidated Statements of Income. In determining All-in sustaining costs, only the CAS associated with producing and selling an ounce of gold or a
pound of copper is included in the measure. Therefore, the amount of CAS included in AISC is derived from the CAS presented in the Company’s Condensed Consolidated Statements of Income. The allocation
of CAS between gold and copper at the Phoenix, Boddington, and Batu Hijau mines is based upon the relative production percentage of copper and gold sold during the period.
Remediation Costs - Includes accretion expense related to asset retirement obligations (“ARO”) and the amortization of the related Asset Retirement Cost (“ARC”) for the Company’s operating properties
recorded as an ARC asset. Accretion related to ARO and the amortization of the ARC assets for reclamation and remediation do not reflect annual cash outflows but are calculated in accordance with GAAP.
The accretion and amortization reflect the periodic costs of reclamation and remediation associated with current gold production and are therefore included in the measure. The allocation of these costs to gold
and copper is determined using the same allocation used in the allocation of CAS between gold and copper at the Phoenix, Boddington, and Batu Hijau mines.
Advanced Projects and Exploration - Includes incurred expenses related to projects that are designed to increase or enhance current gold production and gold exploration. We note that as current resources are
depleted, exploration and advance projects are necessary for us to replace the depleting reserves or enhance the recovery and processing of the current reserves. As this relates to sustaining our gold
production, and is considered a continuing cost of a mining company, these costs are included in the AISC measure. These costs are derived from the Advanced projects, research and development and
Exploration amounts presented in the Company’s Condensed Consolidated Statements of Income. The allocation of these costs to gold and copper is determined using the same allocation used in the
allocation of CAS between gold and copper at the Phoenix, Boddington, and Batu Hijau mines.
General and Administrative - Includes cost related to administrative tasks not directly related to current gold production, but rather related to support our corporate structure and fulfilling our obligations to
operate as a public company. Including these expenses in the AISC metric provides visibility of the impact that general and administrative activities have on current operations and profitability on a per ounce
basis.
Other Expense, net - Includes costs related to regional administration and community development to support current production. We exclude certain exceptional or unusual expenses from Other expense, net,
such as restructuring, as these are not indicative to sustaining our current operations. Furthermore, this adjustment to Other expense, net is also consistent with the nature of the adjustments made to Net
income (loss) as disclosed in the Company’s non-GAAP financial measure Adjusted net income (loss). The allocation of these costs to gold and copper is determined using the same allocation used in the
allocation of CAS between gold and copper at the Phoenix, Boddington, and Batu Hijau mines.
Treatment and Refining Costs - Includes costs paid to smelters for treatment and refining of our concentrates to produce the salable precious metal. These costs are presented net as a reduction of Sales.
Sustaining Capital - We determined sustaining capital as those capital expenditures that are necessary to maintain current gold production and execute the current mine plan. Capital expenditures to develop
new operations, or related to projects at existing operations where these projects will enhance gold production or reserves, are considered development. We determined the breakout of sustaining and
development capital costs based on a systematic review of our project portfolio in light of the nature of each project. Sustaining capital costs are relevant to the AISC metric as these are needed to maintain the
Company’s current gold operations and provide improved transparency related to our ability to finance these expenditures from current operations. The allocation of these costs to gold and copper is determined
using the same allocation used in the allocation of CAS between gold and copper at the Phoenix, Boddington, and Batu Hijau mines.
24

(1)Excludes Depreciation and
amortization and Reclamation and
remediation.
(2)Includes by-product credits of $66.
(3)Includes planned stockpile and leach
pad inventory adjustments of $95 at
Carlin, $4 at Phoenix, $7 at Twin
Creeks, $64 at Yanacocha, $69 at
Boddington, and $191 at Batu Hijau.
(4)Remediation costs include operating
accretion of $54 and amortization of
asset retirement costs of $78.
(5)Other expense, net is adjusted for
restructuring costs of $32.
(6)Excludes development capital
expenditures, capitalized interest, and
the decrease in accrued capital of $188.
The following are major development
projects: Turf Vent Shaft, Conga, and
Merian for 2014.
Nine Months Ended
September 30, 2014
Costs
Applicable
to Sales (1)
(2)(3)
Remediation
Costs (4)
Advanced
Projects
and
Exploration
General and
Administrative
Other
Expense,
Net (5)
Treatment
and
Refining
Costs
Sustaining
Capital (6)
All-In
Sustaining
Costs
Ounces
(000)/
Pounds
(millions)
Sold
All-In
Sustaining
Costs per
oz/lb
GOLD
Carlin $ 607 $ 3 $ 16 $ - $ 6 $ - $ 96 $ 728 673 $ 1,082
Phoenix 116 2 3 - 2 8 12 143 177 808
Twin Creeks 147 2 4 - 2 - 86 241 289 834
La Herradura 86 2 10 - - - 19 117 116 1,009
Other North America - - 20 - 9 - 6 35 - -
North America 956 9 53 - 19 8 219 1,264 1,255 1,007
Yanacocha 530 80 24 - 24 - 56 714 640 1,116
Other South America - - 26 - 2 - - 28 - -
South America 530 80 50 - 26 - 56 742 640 1,159
Boddington 425 8 - - 2 3 50 488 476 1,025
Tanami 185 4 9 - 1 - 56 255 251 1,016
Jundee 85 5 1 - 1 - 16 108 140 771
Waihi 58 1 3 - 2 - 2 66 102 647
Kalgoorlie 213 3 4 - 1 2 16 239 248 964
Other Australia/New
Zealand - - 3 - 20 - 6 29 - -
Australia/New Zealand 966 21 20 - 27 5 146 1,185 1,217 974
Batu Hijau 43 1 - - 3 4 7 58 24 2,417
Other Indonesia - - - - 1 - - 1 - -
Indonesia 43 1 - - 4 4 7 59 24 2,458
Ahafo 182 6 18 - 5 - 65 276 339 814
Akyem 120 2 - - 6 - 5 133 339 392
Other Africa - - 6 - 5 - - 11 - -
Africa 302 8 24 - 16 - 70 420 678 619
Corporate and Other - - 88 138 19 - 16 261 - -
Total Gold $ 2,797 $ 119 $ 235 $ 138 $ 111 $ 17 $ 514 $ 3,931 3,814 $ 1,031
COPPER
Phoenix $ 81 $ 1 $ 2 $ - $ 1 $ 4 $ 10 $ 99 35 $ 2.83
Boddington 112 2 - - - 17 12 143 45 3.18
Batu Hijau 338 10 2 - 17 19 41 427 61 7.00
Total Copper $ 531 $ 13 $ 4 $ - $ 18 $ 40 $ 63 $ 669 141 $ 4.74
Consolidated $ 3,328 $ 132 $ 239 $ 138 $ 129 $ 57 $ 577 $ 4,600
25

(1)Excludes Depreciation and
amortization and Reclamation and
remediation.
(2)Includes by-product credits of $84.
(3)Includes stockpile and leach pad
inventory adjustments of at $3 Carlin,
$63 at Yanacocha, $110 at
Boddington, $1 at Tanami, $3 at
Waihi, $45 at Kalgoorlie, and $385 at
Batu Hijau.
(4)Remediation costs include
operating accretion of $45 and
amortization of asset retirement costs
of $70.
(5)Other expense, net is adjusted for
restructuring costs of $50 and TMAC
transaction costs of $45.
(6)Excludes development capital
expenditures, capitalized interest, and
the increase in accrued capital of
$775. The following are major
development projects: Phoenix
Copper Leach, Turf Vent Shaft, Vista
Vein, La Herradura Mill, Yanacocha
Bio Leach, Conga, Merian, Ahafo
North, Ahafo Mill Expansion, Subika
Underground, and Akyem for 2013.
Nine Months Ended
September 30, 2013
Costs
Applicable
to Sales (1)
(2)(3)
Remediation
Costs (4)
Advanced
Projects
and
Exploration
General and
Administrative
Other
Expense,
Net (5)
Treatment
and
Refining
Costs
Sustaining
Capital (6)
All-In
Sustaining
Costs
Ounces
(000)/
Pounds
(millions)
Sold
All-In
Sustaining
Costs per
oz/lb
GOLD
Carlin $ 513 $ 4 $ 31 $ - $ 4 $ 12 $ 120 $ 684 705 $ 970
Phoenix 125 2 6 - 2 8 15 158 181 873
Twin Creeks 193 4 7 - 3 - 42 249 344 724
La Herradura 122 - 31 - - - 62 215 161 1,335
Other North America - - 32 - 8 - 17 57 - -
North America 953 10 107 - 17 20 256 1,363 1,391 980
Yanacocha 520 68 32 - 60 - 107 787 836 941
Other South America - - 23 - 1 - - 24 - -
South America 520 68 55 - 61 - 107 811 836 970
Boddington 578 5 1 - 1 4 65 654 539 1,213
Tanami 203 2 7 - 2 - 66 280 218 1,284
Jundee 154 10 7 - 1 - 33 205 216 949
Waihi 74 2 4 - - - 7 87 77 1,130
Kalgoorlie 266 5 2 - 1 - 10 284 231 1,229
Other Australia/New
Zealand - - 11 - 25 - - 36 - -
Australia/New Zealand 1,275 24 32 - 30 4 181 1,546 1,281 1,207
Batu Hijau 81 2 2 - 4 4 10 103 33 3,121
Other Indonesia - - - - - - - - - -
Indonesia 81 2 2 - 4 4 10 103 33 3,121
Ahafo 226 2 36 - 3 - 97 364 407 894
Akyem - - 7 - - - - 7 - -
Other Africa - - 7 - 17 - - 24 - -
Africa 226 2 50 - 20 - 97 395 407 971
Corporate and Other - - 101 158 17 - 8 284 - -
Total Gold $ 3,055 $ 106 $ 347 $ 158 $ 149 $ 28 $ 659 $ 4,502 3,948 $ 1,140
COPPER
Phoenix $ 41 $ 1 $ 2 $ - $ - $ 4 $ 6 $ 54 24 $ 2.25
Boddington 139 1 - - - 14 16 170 53 3.21
Batu Hijau 582 7 11 - 16 31 72 719 104 6.91
Total Copper $ 762 $ 9 $ 13 $ - $ 16 $ 49 $ 94 $ 943 181 $ 5.21
Consolidated $ 3,817 $ 115 $ 360 $ 158 $ 165 $ 77 $ 753 $ 5,445
26

Adjusted cash all-in sustaining cost savings
(1) AISC is a non-GAAP metric, for reconciliation to CAS see slides 24 – 26.
(2) Jundee was sold on July 1, 2014.
(3) Midas was sold on February 11, 2014 and was included in the Twin Creeks segment.
(4) Referred to elsewhere as NRV adjustments.
Costs Advanced Other
Treatment
and All-In
Nine Months Ended September 30, Applicable Remediation Projects and General and Expense, Refining Sustaining Sustaining
2014 to Sales Costs Exploration Administrative Net Costs Capital Costs
Gold and Copper Consolidated1 $ 3,328 $ 132 $ 239 $ 138 $ 129 $ 57 $ 577 $ 4,600
Adjustments:
Stockpile and Leach Pad Inventory4 (430) - - - - - - (430)
Abnormal Production Costs at Batu Hijau (53) - - - - - - (53)
Adjusted Consolidated AISC $ 2,845 $ 132 $ 239 $ 138 $ 129 $ 57 $ 577 $ 4,117
Costs Advanced Other
Treatment
and All-In
Nine Months Ended September 30, Applicable Remediation Projects and General and Expense, Refining Sustaining Sustaining
2013 to Sales Costs Exploration Administrative Net Costs Capital Costs
Gold and Copper Consolidated1 $ 3,817 $ 115 $ 360 $ 158 $ 165 $ 77 $ 753 $ 5,445
Adjustments:
Stockpile and Leach Pad Inventory4 (610) - - - - - - (610)
Jundee2 (49) - (3) - - - (9) (61)
Midas3 (22) - (1) - (1) - (3) (27)
Adjusted Consolidated AISC $ 3,136 $ 115 $ 356 $ 158 $ 164 $ 77 $ 741 $ 4,747
27

Adjusted net income
Non-GAAP financial measures are intended to provide additional information only and do not have any standard meaning prescribed by generally
accepted accounting principles (“GAAP”). These measures should not be considered in isolation or as a substitute for measures of performance
prepared in accordance with GAAP.
Adjusted net income (loss)
Management of the Company uses Adjusted net income (loss) to evaluate the Company’s operating performance, and for planning and forecasting
future business operations. The Company believes the use of Adjusted net income (loss) allows investors and analysts to compare results of the
continuing operations of the Company and its direct and indirect subsidiaries relating to the production and sale of minerals to similar operating
results of other mining companies, by excluding exceptional or unusual items. Management’s determination of the components of Adjusted net
income (loss) are evaluated periodically and based, in part, on a review of non-GAAP financial measures used by mining industry analysts. Net
income (loss) attributable to Newmont stockholders is reconciled to Adjusted net income (loss) as follows:
Three Months Ended September 30, Nine Months Ended September 30,
2014 2013 2014 2013
Net income (loss) attributable to Newmont stockholders $ 213 $ 398 $ 493 $ (1,347)
Loss (income) from discontinued operations (3) 21 16 (53)
Impairments and loss provisions 5 29 12 1,530
Tax valuation allowance 21 - (77) 535
Restructuring and other 11 12 18 28
Asset sales (17) (243) (31) (243)
Abnormal production costs at Batu Hijau 19 - 28 -
TMAC transaction costs - - - 30
Adjusted net income (loss) $ 249 $ 217 $ 459 $ 480
Adjusted net income (loss) per share, basic $ 0.50 $ 0.44 $ 0.92 $ 0.97
Adjusted net income (loss) per share, diluted $ 0.50 $ 0.44 $ 0.92 $ 0.97
28

Investors are encouraged to read the information contained in this presentation in conjunction with the following notes, the Cautionary Statement on slide 2 and the
factors described under the “Risk Factors” section of the Company’s most recent Form 10-K, filed with the SEC on February 21, 2014, and disclosure in the
Company’s recent SEC filings including the Form 10-Q.
1. AISC or All-in sustaining cost is a non-GAAP metric. See pages 24 to 26 for more information and a reconciliation to the nearest GAAP metric.
2. Adj. Net Income is a non-GAAP metric. See page 28 for more information and reconciliation to the nearest GAAP metric.
3. 2014 and 2014 - 2016 Outlook projections used in this presentation (“Outlook”) are considered “forward-looking statements” and represent management’s good faith
estimates or expectations as October 30, 2014. However, Outlook is based upon certain assumptions, including, but not limited to, metal prices, oil prices, certain
exchange rates and other assumptions (including, without limitation, those set forth on slide 2). For example, 2014 Outlook assumes $1,200/oz Au, $3.00/lb Cu, $0.95
USD/AUD exchange rate and $100/barrel WTI ; 2015 Outlook assumes $1,200/oz Au, $2.75/lb Cu, $0.90 USD/AUD exchange rate and $100/barrel WTI; and 2016
Outlook assumes $1,200/oz Au, $2.75/lb Cu, $0.90 USD/AUD exchange rate and $100/barrel WTI and other assumptions. Such assumptions may prove to be incorrect
and actual results may differ materially from those anticipated. Consequently, Outlook cannot be guaranteed. As such, investors are cautioned not to place undue
reliance upon Outlook and forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur.
4. Adjusted cash AISC is a non-GAAP metric and is calculated as gold and copper all-in sustaining cost less net realizable value (NRV), Batu related abnormal costs, and
adjusted for the sales of Midas and Jundee. See slide 27 for details.
5. Reserves at Merian (as of December 31, 2013 on a 100% consolidated basis) were estimated at 108,250 ktonnes of Probable Reserves, grading 1.22 gpt for 4.2Moz,
using a $1,300/oz gold price assumption. Resources at Merian (as of December 31, 2013 on a 100% consolidated basis and using a $1,400/oz gold price assumption)
were 750 kounces of Measured and Indicated resources, comprised of Measured resources of approximately 77 kounces (2,400 ktonnes, at 0.98 grams per tonne) and
Indicated resources of approximately 677 kounces (20,500 ktonnes, at 1.03 grams per tonne). Inferred resources totaled approximately 926 kounces (26,800 ktonnes, at
1.07 grams per tonne). U.S. investors are reminded that “reserves” were prepared in compliance with Industry Guide 7 published by the U.S. SEC. Whereas, the terms
“resources,” “Measured and Indicated resources” and Inferred resources” are not SEC recognized terms. Newmont has determined that such “resources” would be
substantively the same as those prepared using the Guidelines established by the Society of Mining, Metallurgy and Exploration and defined as “Mineral Resource”.
Estimates of resources are subject to further exploration and development, are subject to additional risks, and no assurance can be given that they will eventually convert
to future reserves. Inferred Resources, in particular, have a great amount of uncertainty as to their existence and their economic and legal feasibility. Investors are
cautioned not to assume that any part or all of the Inferred Resource exists, or is economically or legally mineable. Mineral inventory is also subject to an even greater
degree of uncertainty. Investors are reminded that even if significant mineralization is discovered and converted to reserves, during the time necessary to ultimately move
such mineralization to production the economic feasibility of production may change. See the Company’s Annual Report filed with the SEC on February 21, 2014 for the
“Proven and Probable Reserve” tables prepared in compliance with the SEC’s Industry Guide 7. Investors are reminded that the tables presented in the Annual Report
are estimates as of December 31, 2013 and were presented on an attributable basis reflecting the Company’s ownership interest at such time. The company presently
holds a 75% equity interest in the Merian project as a result of the government of Suriname recent opt-in.
6. The project metrics presented for the Merian project are based upon management’s reasonable good faith belief as of the date of this presentation and are presented on
a consolidated basis. The listed project metrics constitute forward-looking statements and are subject to certain risks and uncertainties.
Endnotes
29

7. All-in sustaining cost (“AISC”) as used in the Company’s Outlook is a non-GAAP metric defined as the sum of cost applicable to sales (including all direct and indirect
costs related to current gold production incurred to execute on the current mine plan), remediation costs (including operating accretion and amortization of asset
retirement costs), G&A, exploration expense, advanced projects and R&D, treatment and refining costs, other expense, net of one-time adjustments and sustaining
capital.
8. Investors are reminded that the negotiation of the amendment to the Contract of Work contemplated by the MoU remains on-going. Continued future operations at
Batu Hijau are subject to various factors, including, without limitation, the successful renegotiation of the Contract of Work, issuance of future export permits and
approvals following the expiration of the six-month permit, negotiations with the labor union, future in-country smelting availability and regulations relating to export
quotas, and certain other factors. For a discussion of other factors which could impact future financial performance and operating results at Batu Hijau, see Item 1A,
under the heading “Risk Factors,” of the Company’s Form 10-K, filed on February 21, 2014, as well as Note 2 under the heading “Summary of Significant
Accounting Policies - Risks and Uncertainties” of the Notes to the Financial Statements contained in the Company’s Form 10-Q, filed on or about October 30, 2014.
Endnotes
30

CIBC 18th Annual Whistler Institutional Investor Conference 2015

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CIBC 18th Annual Whistler Institutional Investor Conference 2015