Slide 1 Merrill Lynch Merrill Lynch Global Metals & Mining Global Metals & Mining Conference Conference Wayne W. Murdy Chairman & Chief Executive Officer May 2006 May 2006 INVESTING IN THE 21 ST CENTURY

Slide 2 Cautionary Statement Cautionary Statement 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, that are intended to be covered by the safe harbor created by such sections. Such forward-looking statements include, without limitation, (i) estimates of future gold and other metals production and sales; (ii) estimates of future costs and consolidated costs applicable to sales; (iii) estimates of future capital expenditures and expenses; (iv) estimates regarding timing of future development, construction and production activities; (v) statements regarding future exploration results; and (vi) estimates of reserves and statements regarding replacement of reserves. 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, forward-looking 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 such 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 in the countries in which we operate, and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the Company’s 2005 Annual Report on Form 10-K, which is on file with the Securities and Exchange Commission, 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,” to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Slide 3 -20% 0% 20% 40% 60% 80% 100% 120% 140% 160% Jan-02 Jul-02 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 A True Gold Bull Market Gold Is Rising in all Gold Is Rising in all Major Currencies Major Currencies $655/oz ¥74,260/oz €520/oz USD Gold Yen Gold Euro Gold Source: Bloomberg (as of May 1, 2006)

Slide 4 Gold vs. US Current Account Balance Gold vs. US Current Account Balance $- $100 $200 $300 $400 $500 $600 $700 $800 1969 1972 1975 1978 1981 1984 1987 1990 1993 1996 1999 2002 2005 -7% -6% -5% -4% -3% -2% -1% 0% 1% 2% Current Account Deficit/Surplus Gold Price Source: Bloomberg 1978 Carter Bonds 1971 Nixon Gold Window 1987 Stock Market Crash Deteriorating US$ Deteriorating US$

Slide 5 Expanding Metal Consumption Growth Source: Merrill Lynch Research Commodity Demand Driven Commodity Demand Driven by Growth in Emerging Markets by Growth in Emerging Markets China, India, Russia, and Brazil On Track to Equal G7 Consumption by 2010 China On Track to Over Quarter of World Consumption by 2010 0 13,000 26,000 39,000 52,000 65,000 1900 1943 1973 1984 2000 2005 2010E G7 Emerging Markets Rest of World China’s Consumption On Track to Rival the G7 Within a Decade

Slide 6 - 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 *Supply Deficit 746 547 618 528 656 Scrap Supply 520 840 943 848 861 Mine Supply 2,621 2,588 2,592 2,470 2,519 Total Demand 3,887 3,975 4,153 3,846 4,036 2001 2002 2003 2004 2005 Source: Murenbeeld & GFMS Growing Physical Growing Physical Gold Supply Deficit Gold Supply Deficit Total Demand Up 5% From 2004 to 2005 Total Demand Exceeded Physical Supply by Over 15% from 2001- 2005 Total Gold Demand vs. Physical Gold Supply Total Demand

Slide 7 2005 Production and Reserves 2005 Production and Reserves Over 32 Million Acres of Land in the World’s Best Gold Districts 2005 Production: 6.5 million ounces North America (8.0 million Acres) •2.7 mil oz sold in 2005 •34 mil oz in Reserves •$31 mil 2006 Exploration Operations Major Projects Additional Exploration $71 Million South America (4.3 million Acres) •3.4 mil oz sold in 2005 •17 mil oz in Reserves •$25 mil 2006 Exploration Africa (3.6 million Acres) •19 mil oz in Reserves •$11 mil 2006 Exploration Indonesia (1.0 million Acres) •0.7 mil oz sold in 2005 •7 mil oz in Reserves •$3 mil 2006 Exploration Australia/N.Z. (10.8 million Acres) •1.6 mil oz sold in 2005 •15 mil oz in Reserves •$17 mil 2006 Exploration Central Asia/Europe (4.7 million Acres) •0.1 mil oz sold in 2005 •2 mil oz in Reserves

Slide 8 Proven Reserve Growth Record Proven Reserve Growth Record 0 20 40 60 80 100 120 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 3.6 million ounces from additional interest in Akyem and Boddington¹ (1) Includes pro forma equity reserves added after December 31, 2005 through additional interest acquired in Akyem and Boddington. Fourth Straight Year of Reserves Growth Finding Cost of $13 per ounce since 1986 96.8 Million Ounces of Total Reserves

Slide 9 Financial and Operating Highlights Financial and Operating Highlights Ongoing Solid Earnings and Cash Flow Generation 1. First Quarter 2006 Income from continuing operations included $48 million ($0.11 per share) for tax estimate revisions (after-tax) 2. Includes 14,200 ounces sold in 2006 from incidental sales during start-up at Leeville and Phoenix, and 13,300 ounces in 2006 (20,000 in 2005) from the Holloway discontinued operation. Financial (in millions, except per share) First Quarter 2006 Full Year 2005 Revenues $1,148 $4,406 Net cash provided from continuing operations $240 $1,253 Income from continuing operations $213 $374 Income from continuing operations per common share 1 $0.48 $0.84 Cash, Equivalents, and Marketable Securities ($Billion) $1.9 $1.5 Operating First Quarter 2006 Full Year 2005 Consolidated gold sales from continuing ops (000 ounces) 2 1,839 8,552 Equity gold sales (000 ounces) 2 1,392 6,493 Average realized gold price ($/ounce) $555 $441 Costs applicable to sales ($/ounce) $275 $236

Slide 10 0 100 200 300 400 500 600 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2005 Industry Cost Curve 2005 Industry Cost Curve Source: GFMS NEM NEM 40 th Percentile on Industry Cost Curve Industry Cost Curve up 50% since 2002 16% Newmont improvement in competitive cost position from 2002 2005 2002

Slide 11 2006 Costs Applicable to Sales 2006 Costs Applicable to Sales vs. 2005 vs. 2005 CAS Per Ounce Change $8 $9 $15 $5 $12 $239 $288 $100 $150 $200 $250 $300 2005 Actual Lower Grade Ore Accounting Changes Labor & Benefits Electrical Other, Commodity & Diesel 2006 Guidance (1) Newmont estimates as of April 20, 2006 (1)

Slide 12 $178 $187 $196 $216 $236 $275 $288 $93 $126 $170 $196 $205 $280 $367 $271 $313 $366 $412 $441 $555 $655 $- $100 $200 $300 $400 $500 $600 $700 2001 2002 2003 2004 2005 1Q06 FY06f CAS/Oz Cash Operating Margin per Ounce Realized Price Gold Leverage & Margin Expansion Gold Leverage & Margin Expansion *FY06f = Full year forecast based on an assumed average realized price of $655 per ounce and the mid-point of current CAS guidance of $288 per ounce. **CAS/Oz = Costs Applicable to Sales per Ounce of Gold Margin Expansion - Gold Price Exposure and Cost Control

Slide 13 Improving Gold and Improving Gold and Copper Cash Flows Copper Cash Flows • 2006 Gold Sales Weighted to 2 nd Half • Copper Hedges Run Off Next Year Hedge Price - 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 Q106 A Q206 F Q306 F Q406 F 1,480 1,625 1,750 1,392 1,425 1,575 1,700 $1.35 $1.35 $1.40 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2005 2006 2007 $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40

Slide 14 2006 Project Pipeline Highlights 2006 Project Pipeline Highlights • Nevada - Leeville Underground & Phoenix Gold/Copper Mines • Ghana – Ahafo (2006) & Akyem (2009) Gold Mines • Australia – Boddington (2009) • ~$2.5 Billion Invested = Average Mine Life of Over 16 Years 5 New Highly Capital Efficient Projects 2.5 Million Ounces per Year of New Gold Production Balanced Political Risk Profile • Nevada – ~750,000 Ounces per Annum • Ghana – ~1 Million Ounces per Annum • Australia – 700,000 Ounces per Annum • ~2.5 Million Ounces at Under $250 per Ounce • Nevada – 11.4 Million Ounces in Reserves • Ghana – 20.0 Million Ounces in Reserves • Australia – 7.7 Million Ounces in Reserves • Over 39 Million Ounces / ~Half from Developed Countries

Slide 15 Advanced & Emerging Advanced & Emerging Projects (2009+) Projects (2009+) • Power Plant (2008) – Completion, Up to $25/oz Cost Savings • Phoenix Copper Oxide - Large Scale, Low Cost, High Return Project • Mike - Large Scale Oxide Gold/Copper Deposit Nevada Peru Ghana • Gold Mill (2009) – Significant Return Upside at Higher Gold Prices • Yanacocha Sulfides – Long-Term Incremental Growth Potential • Conga (2010) - Equity Gold Reserves of 6.0 Million Ounces • Ahafo Expansion – Potential to Increase Production by Over 50% Mill Expansion in the South Area High Grade Underground Potential Being Evaluated

Slide 16 Newmont: The World’s Newmont: The World’s Leading Gold Company Leading Gold Company Silver Gold Copper • Expanding Margins • Improving Cost Profile • Growing Reserves • New Mines

Slide 17 1. Leading Land Position & Balanced Political Risk Exposure 32 Million Acres in the World’s Best Gold Districts Over Half of Reserves & Production in Developed Countries 2. Proven Reserve Growth 5% Growth in 2005, 4 th Straight Year of Growth 3. Environmental & Social Leadership ICMM & World Gold Council Chairs 4. Leading Project Pipeline 2.5 Million Ounces at Operating Costs Below $250/oz 5. Margin Expansion & No Gold Hedging Philosophy = Gold Leverage 36% Increase In Cash Operating Margin 1Q06 vs. FY05 6. Financial Strength & Flexibility Newmont: The World’s Newmont: The World’s Leading Gold Company Leading Gold Company Capitalizing on the Gold Bull Market – Top Ingredients

Slide 18 Merrill Lynch Merrill Lynch Global Metals & Mining Global Metals & Mining Conference Conference Wayne W. Murdy Chairman & Chief Executive Officer May 2006 May 2006 INVESTING IN THE 21 ST CENTURY