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Investor Presentaiton

DONLIN GOLD: Largest Gold Development Project in its Category¹ A resource more than five times the size of the peer group average 50.0 40.0 39.02 30.0 M&I Gold Resource (millions of o ounces) 20.0 10.0 Donlin Gold² 39.0 Moz 7.7 Moz peer group average¹ 11.7 11.5 11.3 10.9 10.0 8.2 8.1 8.0 6.3 5.0 Stibnite, USA 4.6 4.2 3.9 3.5 Salares Norte, Chile Montagne d'Or, French Guiana Magino, Canada Springpole, Canada Volta Grande, Brazil Back River, Canada Courageous Lake, Canada Hardrock, Canada Lobo-Marte, Chile Côté Gold, Canada 1) Peer group data based on company documents, public filings and websites as of July 29, 2021. Comparison group of 14 projects based on large (2Moz Proven and Probable cut off), North/South American gold-focused development projects with >75% projected revenues from gold. 2) Represents 100% of measured and indicated mineral resources, inclusive of mineral reserves, of which NOVAGOLD's share is 50%. See "Cautionary Note Concerning Reserve and Resource Estimates" and "Mineral Reserves & Mineral Resources" table on slides 2 and 33. NOVAGOLD 22 0.0 Goldrush, USA Livengood, USA Blackwater, Canada Donlin Gold, USA
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