Newmont's Credit Rating by Moody's Improved to A3

Newmont Corporation Upgrades Credit Rating by Moody's

In a significant development, global mining giant Newmont Corporation has announced that its credit rating has been upgraded by Moody's. The corporation's issuer credit rating has been raised to A3 from Baa1, with a stable outlook, effective from the second quarter of 2025.

This upgrade underscores the strength of Newmont's balance sheet and their commitment to a disciplined, balanced approach to capital allocation. The decision was supported by Newmont's improved credit profile, strengthened balance sheet, excellent liquidity position, and prudent financial management.

Newmont's Chief Executive Officer, Tom Palmer, commented on the upgrade, stating, "This upgrade recognises the strength of our balance sheet and our commitment to a disciplined, balanced approach to capital allocation."

Investors are advised that continued reliance on forward-looking statements is at their own risk. The forward-looking statements in this announcement include expectations of future balance sheet strength and free cash flow generation. However, it is important to note that there are factors that could cause actual results to differ materially from expected results as stated in the forward-looking statements.

Newmont, founded in 1921 and publicly traded since 1925, is a leading player in the global mining industry. The corporation is the only gold producer listed in the S&P 500 Index and is also a significant producer of copper, zinc, lead, and silver. With a world-class portfolio of assets located in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea, Newmont is widely recognized for its principled environmental, social, and governance practices.

For a discussion of risks relating to Newmont's business and other factors, see its most recent Form 10-K. It is important to note that a rating may be lowered if, in the judgment of the rating agency, future circumstances relating to the basis of the rating so warrant.

Investors and media inquiries can be directed to Neil Backhouse (Global Investor Contact), Natalie Worley (Asia Pacific Investor Contact), Shannon Brushe (Global Media Contact), and Rosalie Cobai (Asia Pacific Media Contact).

It is essential to remember that investors should not place undue reliance on forward-looking statements. Newmont does not undertake any obligation to release publicly revisions to any forward-looking statement to reflect events or circumstances after the date of this news release. There is no assurance that any rating currently assigned by rating agencies to Newmont will remain unchanged for any given period of time.

In conclusion, the upgrade by Moody's is a testament to Newmont's strong financial position and commitment to prudent financial management. As an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise, Newmont continues to set the bar high in the global mining industry.