Melbourne Mining Club2 February 2012

Greg RobinsonManaging Director and CEONewcrest Mining Limited

2

DisclaimerForward Looking Statements and Disclaimer

These materials include forward looking statements. Forward looking statements inherently involve subjective judgement and analysis and aresubject to significant uncertainties, risks and contingencies, many of which are outside of the control of, and may be unknown to, thecompany. Actual results and developments may vary materially from those expressed in these materials. The types of uncertainties which arerelevant to the company may include, but are not limited to, commodity prices, political uncertainty, changes to the regulatory frameworkwhich applies to the business of the company and general economic conditions. Given these uncertainties, readers are cautioned not to placeundue reliance on such forward looking statements.

Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law orany relevant stock exchange listing rules, the company does not in providing this information undertake any obligation to publicly update orrevise any of the forward looking statements or any change in events, conditions or circumstances on which any such statement is based.

The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis formaking an investment decision.

Ore Reserves and Mineral Resources Reporting Requirements

As an Australian company with securities listed on the Australian Securities Exchange (“ASX”), Newcrest is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act and the ASX. Investors should note that it is a requirement of the ASX listing rules that the reporting of Ore Reserves and Mineral Resources in Australia comply with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”) and that Newcrest’s Ore Reserve and Mineral Resource estimates comply with the “JORC Code”.

Competent Persons Statement

The information in this presentation that relates to Exploration Results is based on information compiled by Colin Moorhead, EGM Minerals forNewcrest Mining Limited who is a Fellow of The Australasian Institute of Mining and Metallurgy, and a full-time employee of Newcrest MiningLimited. Mr Moorhead has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration andto the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “JORC Code”. Mr Moorheadconsents to the inclusion in this presentation of the matters based on this information in the form and context in which they appear.

Exploration Target

The potential quantity and grade related to Exploration Targets in this report is conceptual in nature as there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource.

3

Newcrest Mining

Tandai

Mt KasiNamosi

Manus Island

YamoussoukroYamoussoukro

AbidjanAbidjanLiberiaLiberia

Bukina FascoBukina FascoMaliMali

CÔTE D’IVOIRECÔTE D’IVOIRECÔTE D’IVOIRECÔTE D’IVOIRE

100 km100 km

Yamoussoukro

AbidjanLiberia

Bukina FascoMali

CÔTE D’IVOIRECÔTE D’IVOIRE

100 km

Lihir

Wafi-Golpu

Cadia Valley

Bonikro

Telfer

Gosowong

Hidden Valley

Mining Operation

Advanced Project

Exploration

� Head office - Melbourne

� 4th largest gold producer

� Listed on the ASX and POMSOX; progressing with TSX listing

� Mines in four countries

� Workforce of 18,000

� Gold production 2.7Moz

� Copper production 85kt

4

Gold - Store of Wealth

If you had to bury an item of value in a time capsule which is only to be opened by your grandchildren 50 years from today, what would it be?

5

Store of Value

� Since its free float in 1973, gold has consistently beaten inflation

� “From ’01 to ’04, a period where inflation fell from 2.8% to 1%. Gold rallied >50%. … Gold,

as a hoarding vehicle has a scarcity factor that can see its price appreciate significantly.

Even in a deflationary period.” – Merrill Lynch Jan 2009

Source: Bloomberg

0

500

1,000

1,500

2,000

2,500

3,000

Indexed Gold, CPI and Dow Jones Movements

Gold USD US CPI Dow Jones Industrial Average

USD/oz

6

Gold is forever

� Gold is the only real long term currency – every currency exchangeable into gold

*Source: USGS

20 m

20 m

20 m

Gold Inventory(Thousand Tonnes)

86

31

28

204

� 51kt in existing in-ground reserves*

� Liquidity- 2,800t produced vs. trading volumes 1,500t / day

7

Discovery Rates are Declining

8

60 years of supply

� Mine production - 2,800 tonnes per annum� 59,000 tonnes in storage� 86,000 tonnes in jewellery

Source: Bloomberg

0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000

Aggregate Gold Produced

Global Financials

Global Materials

Global Mining Sector

US Gold Reserve

Apple

Global Gold

BHP Billiton

Barrick

Market Value (US$b)

9

Central Banks have Resumed Buying

* 2011 data is preliminary

-800

-600

-400

-200

0

200

400

600Tonnes

Net official sector sales and purchases

Source: Thomson Reuters GFMS, World Gold Council

Mexico: 100tRussia: 87tThailand: 53tSouth Korea: 40tBolivia: 14tChina: 450t++India: 200t

+Sri Lanka,Bangladesh,Philippines,Kazakhstan,Mauritius

*

10

ETF Investment Continues to Build

Source: Bloomberg, ANZ Research

10

20

30

40

50

60

70

80

90

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12

ETF Gold Holdings (RHS) Gold price

US$/oz Moz

11

Why gold prices will continue to stay strong

� US$ remains the global currency but faces devaluation:

– US National Debt $15+ trillion

– US gold reserve US$450B

– US Federal Reserve continuing to ease monetary policy

– Pay debt through tax and devaluation of US$

� European economies in poor shape

– Recapitalisation of Government and Bank debt

– Future of the Euro currency?

� Capital surplus to the emerging economies

– Where to invest excess money?

� Political tensions continue

12

Gold companies will correlate with gold prices

Source: Bloomberg

Analyst price forecasts remain substantially below spot gold price

1.00 1.00

0.54

0.41

(0.03)(0.20)

0.00

0.20

0.40

0.60

0.80

1.00

Gold Correlation - 1 year

1.00 1.000.91 0.94 0.91

(0.20)

0.00

0.20

0.40

0.60

0.80

1.00

Gold Correlation - 10 year

13

Gold Companies - a better investment than pure gold

Gold price exposure+ Dividends

+ Growth

Highvalue

Lowvalue

Reserve life

LTO

Management

Gold price

Cost position

Growth

14

Gold – 10% of Australian Exports

Source: BREE: Australian Commodities, December Quarter 2011: 2011-12 Forecast

ABARES: Agricultural Commodities, December Quarter 2011: 2011-12 Forecast

Value of Australia’s Top 10 Commodity Exports

Gold $18.9B 10%

Other Metal & Minerals

$161.6B 85%

Agricultural Products

$10.1B 5%

Combined Value $190.6B

15

Australian Gold Industry Cycle

Source: Bloomberg

16

Currency pay rise for everyone!

Source: GFMS Gold Survey, Bloomberg

0.300

0.400

0.500

0.600

0.700

0.800

0.900

1.000

1.100

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

Exc

han

ge

Rat

e (U

S$:

A$)

Co

st (U

S$/

oz)

Year

Cash Cost – World (US$/oz)

Cash Cost – Australia (US$/oz)Exchange Rate

17

Gross Value Add per Hour Worked

18

Labour Productivity

Source: AMMA: Productivity in the Mining Sector

Ind

ex 1

985–

86 =

100

19

Challenge of Geographic Spread

Melbourne

Jakarta

Port Hedland

PerthKalgoorlie

Sydney

Brisbane

Port Moresby

Suva

Manado

Ternate

Orange

PAPUA NEW GUINEA

INDONESIA

AUSTRALIA

Tandai

Gosowong

Namosi

Mt Kasi

Lihir

FIJI

Manus Is

Wafi-Golpu

Singapore

Telfer

Broome Cairns

Adelaide

Alice Springs

MALAYSIA

PHILIPPINES

DomesticInternationalCharter

Newcrest operation/project

Hidden Valley

Cadia Valley

20

Fewer discoveries, grades are declining

Average grade of gold mined and discovered (1950-10)

19

50

20

10

19

60

19

70

19

80

19

90

20

000.1

100

g/t Au

10

1

Average grade of gold discovered

Average grade of gold mined

Volume and average size of global goldDiscoveries (1997- 08)

Billions of ounces

80

40

160

120

00706050403020100999897

Total gold discovered

Average size of discovery

08

Source: MEG Gold Sector Review

# of major discoveries 10 10 5 3 6 2 7 6 5 2 1 0

21

Mines deeper and bigger

0

500

1000

1500

2000

2500

3000

3500

1950

1955

1960

1965

1970

1975

1980

1985

1990

1995

2000

2005

2010

2015

Min

e d

eprt

h (

metr

es) Andina (UG)

El Teniente

Grasberg

Kidd Creek

Mount Isa

Palabora

Source: Newcrest M ining

Underground Mine Depth - metres (1950-2017)

0

200

400

600

800

1,000

1,200

1950

1956

1962

1968

1974

1980

1986

1992

1998

2004

2010

2016

Min

e D

epth

(m

etr

es)

Bingham Canyon

Chuquicamata

Collahuasi

Escondida

Grasberg

Source: Newcrest M ining

Open Pit Mine Depth - metres (1950-2017)

General trends:

� Mines are getting deeper

� Ore grades are declining

� Material movement rates have increased

Compiled :Wood Mackenzie

22

Future Underground

Loaders <50m to Ore Passes

Loaders <10m to Mobile Crusher

Integrated Continuous Machines

Rock Factory Underground

• Continuous• Increased rates• Reduced capital• Lower op costs

Loaders >150m to Crusher

>25Mtpa rates<$5/t minedLower cut offs

23

Energy Consumption Increases with Finer Sizing

24

Newcrest Working Together with Others

+ Many Others

25

PNG, Wafi-Golpu JV – Wafi Transfer Zone

� Seven Drill rigs

� Targeting further growth of the Golpu porphyry

� Accelerated drilling campaign within the Wafi Transfer Zone

• Kesiago,

• Zimake

• Mt Tonn

(1) Newcrest Annual Statement of Mineral Resources & Ore

Reserves to June 30, 2011. Resource figures quoted on 100%

basis.

Bavaga

Zenapu

Mt Tonn

Pekumbe

Kesiago

Hekeng

Nambonga

Wafi

Miapilli

Golpu

PLAN VIEW

Zimake

4 kmCopper/goldtarget area

26.6Moz Au & 9.0Mt Cu

2011 WAFI-GOLPURESOURCE(1)

26

800 m

+1900 m

~800 m

2011 GOLPURESOURCE(2)

870 Mt @

0.69 g/t Au &

1.03% Cu

19.3 Moz Au &

9.0 Mt Cu

2009 2011

Wafi-Golpu – Growth of a world class Copper/Gold district

Surface Surface

Diatreme Diatreme

2009 GOLPU RESOURCE(1)

163Mt @

0.57 g/t Au &

1.1% Cu

3.0 Moz Au &

1.7 Mt Cu

(1) Newcrest Annual Statement of Mineral Resources & Ore Reserves to June 30, 2009(2) Newcrest Annual Statement of Mineral Resources & Ore Reserves to June 30, 2011.

Resource figures quoted on 100% basis.

300 m

27Cadia Valley Operations

Crushing and screening

Flotation area

Mill building

Thickening

Vertimill

28Broken Ore in Drawpoint - Cadia East

29Lihir MOPU Project - Autoclave Building

30

Autoclave VesselNeutralisation, Cyanidation Adsorption Circuit

31Lihir MOPU Project - Oxygen Plant