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ASX Appendix 4E & Annual Financial Report

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ASX Appendix 4E & Annual Financial Report ASX Appendix 4E & Annual Financial Report For the year ended 30 June 2021 ASX Appendix 4E and Annual Financial Report Newcrest Mining Limited and Controlled Entities TABLE OF CONTENTS A. ASX Appendix 4E - Results for Announcement to the Market B. Directors’ Report C. Operating and Financial Review D. Remuneration Report E. Financial Statements F. Independent Auditor’s Report Newcrest Mining Limited – Annual Financial Report – Year Ended 30 June 2021 ASX APPENDIX 4E RESULTS FOR ANNOUNCEMENT TO THE MARKET Newcrest Mining Limited Financial Year Ended 30 June 2021 ASX Code: NCM Percentage 30 June 2021 30 June 2020 increase/ US$ million US$ million (decrease) Revenue 4,576 3,922 17% Net profit attributable to members of the parent entity (‘Statutory Profit’) 1,164 647 80% Amount Amount franked Dividend Information per share per share US cents US cents Final dividend 40 40 Record date for determining entitlement to final dividend 27 August 2021 Date final dividend payable 30 September 2021 The Directors have determined to pay a final dividend for the year ended 30 June 2021 of US 40 cents per share, which will be fully franked. The Dividend Reinvestment Plan (‘DRP’) remains available and will be offered to shareholders at a price determined by the volume weighted average price of shares traded on the ASX over the period 31 August 2021 to 6 September 2021. No discount applies to the DRP. Shareholders have until 5pm AEST on 30 August 2021 to change their DRP election for the final dividend. Net Tangible Assets 30 June 2021 30 June 2020 US$ US$ Net tangible assets per share (1) 12.32 10.50 (1) Net tangible assets includes right-of-use assets with a carrying value of US$60 million (2020: US$56 million). Newcrest Mining Limited – Annual Financial Report – Year Ended 30 June 2021 A 1 ASX APPENDIX 4E RESULTS FOR ANNOUNCEMENT TO THE MARKET Review of Results Refer to the Operating and Financial Review. Audit Report The Financial Statements and Remuneration Report have been subject to audit. Newcrest Mining Limited – Annual Financial Report – Year Ended 30 June 2021 A 2 DIRECTORS’ REPORT The Directors present their report together with the consolidated financial statements of the Newcrest Mining Limited Group, comprising Newcrest Mining Limited (‘the Company’) and its controlled entities (‘Newcrest’ or ‘the Group’), for the year ended 30 June 2021. Directors The Directors of the Company during the year ended 30 June 2021, and up to the date of this report are set out below. All Directors held their position as a Director throughout the entire year and up to the date of this report unless otherwise stated. Peter Hay Non-Executive Director and Non-Executive Chairman Sandeep Biswas Managing Director and Chief Executive Officer Gerard Bond Finance Director and Chief Financial Officer Philip Aiken AM Non-Executive Director Roger Higgins Non-Executive Director Sally-Anne Layman Non-Executive Director (appointed on 1 October 2020) Xiaoling Liu Non-Executive Director (resigned on 11 November 2020) Jane McAloon Non-Executive Director (appointed on 1 July 2021) Vickki McFadden Non-Executive Director Peter Tomsett Non-Executive Director On 5 May 2021, it was announced that Gerard Bond would leave Newcrest shortly after his tenth year in the role in early 2022. Principal Activities The principal activities of the Group during the year were exploration, mine development, mine operations and the sale of gold and gold/copper concentrate. There were no significant changes in those activities during the year. Consolidated Result The profit after tax attributable to Newcrest shareholders (‘Statutory Profit’) for the year ended 30 June 2021 was US$1,164 million (2020: US$647 million). Refer to the Operating and Financial Review for further details. The Operating and Financial Review forms part of this Directors’ Report. The financial information in the Operating and Financial Review includes non- IFRS financial information. Explanations and reconciliations of non-IFRS financial information to the financial statements are included in Section 6 of the Operating and Financial Review. Dividends The following dividends of the Company were paid during the year: Final dividend for the year ended 30 June 2020 of US 17.5 cents per share, amounting to US$143 million, was paid on 25 September 2020. This dividend was fully franked. Interim dividend for the year ended 30 June 2021 of US 15.0 cents per share, amounting to US$123 million, was paid on 25 March 2021. This dividend was fully franked. The Directors have determined to pay a final dividend for the year ended 30 June 2021 of US 40 cents per share, which will be fully franked. The dividend will be paid on 30 September 2021. Newcrest Mining Limited – Annual Financial Report – Year Ended 30 June 2021 B 1 DIRECTORS’ REPORT Significant Changes in the State of Affairs and Future Developments Refer to the Operating and Financial Review for information on the significant changes in the state of affairs of the Group and for likely developments and future prospects of the Group. Subsequent Events Subsequent to year end, the Directors have determined to pay a final dividend for the year ended 30 June 2021 of US 40 cents per share, which will be fully franked. The dividend will be paid on 30 September 2021. The total amount of the dividend is US$327 million. This dividend has not been provided for in the 30 June 2021 financial statements. There have been no other matters or events that have occurred subsequent to 30 June 2021 that have significantly affected or may significantly affect the operations of the Group, the results of those operations or the state of affairs of the Group in subsequent financial years. Options The Company does not have any unissued shares or unissued interests under option as at the date of this report, nor has it granted, or issued shares or interests under any options during or since the end of the year. Refer to Note 36 for the number of Performance Rights at year end. Non-Audit Services During the year, Ernst & Young (external auditor to the Company), has provided other services in addition to the statutory audit, as disclosed in Note 38 to the financial statements. These services included: Assurance and agreed-upon-procedure services relating to transaction accounting services, sustainability assurance services and audited related assurance services. Non-audit services relating to sustainability, tax and other due diligence services. The Directors are satisfied that the provision of non-audit services provided by the auditor is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001. The Directors are satisfied that these non-audit services do not compromise the auditor’s independence, based on advice received from the Audit and Risk Committee, for the following reasons: all non-audit services have been approved by the Audit and Risk Committee Chair prior to engagement to ensure they did not impact on the impartiality and objectivity of the auditor; none of the services undermine the general principles relating to auditor independence as set out in APES 110 Code of Ethics for Professional Accountants, as they did not involve reviewing or auditing the auditor’s own work, acting in a management or decision-making capacity for the Company, acting as an advocate for the Company or jointly sharing economic risks and rewards; and Ernst & Young has individually confirmed, prior to each service commencing, that the service does not create any independence issues with respect to the Corporations Act 2001. They have also provided a copy of their Auditor’s Independence Declaration, as required by the Corporations Act 2001, for inclusion in the Annual Report. Auditor Independence A copy of the Auditor’s Independence Declaration, as required by the Corporations Act 2001, is included after this report. Currency All references to dollars in the Directors’ Report and the Financial Report are references to US dollars ($ or US$) unless otherwise specified. Rounding of Amounts Newcrest Mining Limited is a company of the kind referred to in ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191 and in accordance with that Instrument, amounts in the Directors’ Report and the Financial Report are rounded to the nearest million dollars except where otherwise indicated. Newcrest Mining Limited – Annual Financial Report – Year Ended 30 June 2021 B 2 DIRECTORS’ REPORT Environmental Regulation and Performance The Managing Director reports to the Board on all significant safety, health and environmental incidents. The Board also has a Safety and Sustainability Committee which has oversight of the safety, health and environmental performance of the Group and meets at least four times per year. The operations of the Group are subject to environmental regulation under the jurisdiction of the countries in which those operations are conducted, including Australia, Papua New Guinea (‘PNG’), Canada, USA, Chile, Ecuador and Fiji. Each mining operation is subject to particular environmental regulation specific to their activities as part of their operating licence or environmental approvals. Each of our sites are required to also manage their environmental obligations in accordance with our corporate environmental policies and standards. The environmental laws and regulations that cover each of our sites, combined with our policies and standards, address the potential impact of the Group’s activities in relation to water and air quality, noise, land disturbance, waste and tailings management, and the potential impact upon flora and fauna. The Group releases an annual Sustainability Report in accordance with the Global Reporting Initiative that details our activities in relation to management of key environmental aspects. The Group has an internal reporting system covering all sites. Environmental incidents are reported and assessed according to their environmental consequence and environmental authorities are notified where required and remedial action is undertaken.
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