History

The Wafi-Golpu area has been explored since the 1970s.

Harmony Gold acquired the Wafi- Golpu exploration interests in 2003.

In 2008, Harmony and Newcrest entered into a farm-in agreement, under which Newcrest acquired a 50% interest and the Wafi Golpu Joint Venture (WGJV) was formed.

A Golpu Technical Pre-Feasibility Study (PFS) was completed in August 2012 which supported updated mineral resource and ore reserve estimates for Wafi-Golpu.

In December 2014 Newcrest and Harmony approved the first stage of the Golpu project to proceed to Feasibility Study following the completion of an updated 2012 Golpu PFS. An update of the 2012 Golpu PFS for the second stage of the project is underway.

Ownership

Wafi-Golpu is owned by the Wafi-Golpu Joint Venture (WGJV). The WGJV is one of three unincorporated joint ventures between subsidiaries of Newcrest (50%) and Harmony Gold (50%) referred to collectively as the Morobe Mining Joint Ventures (MMJV).

The PNG government has the right to purchase, for its pro-rata share of historical costs, up to a 30% equity interest in any mineral discovery at Wafi-Golpu, at any time before the commencement of mining.

Mineralisation

Wafi-Golpu is a world-class mineral province of gold and copper-gold deposits. It currently includes the Wafi epithermal gold deposit, the Golpu and Nambonga copper-gold porphyry deposits and other substantial exploration targets.

Wafi-Golpu October 2015

Location

The Wafi-Golpu gold and copper deposits are located in the Morobe Province of Papua New Guinea (PNG). They are approximately 65 kilometres south-west of the port city of Lae,PNG’s industrial hub and second largest city.

WAFI-GOLPU PAPUA NEW GUINEA

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Mission To deliver superior returns from finding, developing and operating gold/copper mines.

Vision To be the Miner of choiceTM. We will lead the way in safe, responsible, efficient and profitable mining.

GOLPU DEPOSIT

The Golpu porphyry deposit is the largest discovery at Wafi-Golpu to date, hosting a Mineral Resource of 500 million tonnes estimated to contain 10 million ounces of gold and 4.5 million tonnes of copper*.

Golpu’s current Ore Reserve estimate is 6.2 million ounces of contained gold and 2.7 million tonnes of contained copper*.

Resource definition drilling continues, however Golpu already ranks alongside the highest grade copper porphyry deposits in South East Asia.

WAFI DEPOSIT

A Concept Study is underway to assess development options for the Wafi deposit.

* 50 basis; Newcrest December 2014 Resources and Reserves Statement

Golpu Project

The updated Golpu Pre-Feasibility Study (PFS) proposes a smaller, lower capital cost development of the first stage of Golpu, with production expected to commence in the 2020 calendar year.

The capital cost to build stage one is estimated at US$2.3 billion.

Stage one would target the upper higher value portion of the ore body via two block caves with an approximate mine life of 27 years. Ore would be conveyed to a nearby surface process plant which would produce a copper-gold concentrate.

Annual production would be expected to peak in 2025 at 320,000 ounces of gold and 150,000 tonnes of copper.

The updated PFS recommends the development of an exploration decline to establish further geotechnical and geological data to support the feasibility study.

During 2015 work will also continue on updating the 2012 Golpu PFS for the second stage of the project.

Both the stage one feasibility study and the updated PFS for the second stage are scheduled to be completed by December 2015.

Sustainable Development

The future development and delivery of Wafi-Golpu would be underpinned by a sustainable development approach, to which Newcrest and the WGJV are committed.

Safety and health

The safety and health of the MMJV people is core to every aspect of the business and this includes the WGJV. The MMJV provides education and training, counselling, prevention and risk control for employees for various health-related issues.

The Wafi Camp includes a clinic which provides general health care, emergency, preventative and first aid support to employees and local communities 24 hours a day. Clinic staff undertake antenatal care, immunisation programs and conduct routine health patrols to isolated village communities.

Employment and training

Training and development of the current workforce and future employees is a key priority.

The MMJV presently provides specific skills training, health and safety awareness and leadership development opportunities.

Within the local community, capacity building programs have been undertaken for landowner association leaders and community leaders, with a focus on women. These have been initiated to maximise the opportunity for the local community to fully participate in resource development activities on their land.

As the Wafi-Golpu project advances, these programs and opportunities are expected to increase.

Economic contribution

Wafi-Golpu is already creating economic value for local communities and PNG through employment, investments in local infrastructure and services, support for local suppliers and a range of other indirect economic benefits.

Wafi-Golpu has the potential to provide significant additional economic and social benefits for PNG, particularly local communities.

More details can be found on the MMJV website: www.morobejv.com

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CONTACT

Newcrest Corporate Affairs

T: + 61 3 9522 5593E: corporateaffairs@newcrest.com.au