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Investor Presentaiton

DONLIN GOLD: Double the Global Average Gold Grade¹ Among the world's highest-grade known open-pit gold deposits 2.24/ g/t Donlin Gold average grade² 1.12/t Global average grade¹ While global average gold grades are declining, Donlin Gold's grade provides resilience through commodity price cycles 1) 2020 average grade of open-pit and underground deposits with gold as primary commodity and over 1Moz in measured and indicated resources, sourced from S&P Global Market Intelligence. 2) Represents average grade of measured and indicated mineral resources, inclusive of mineral reserves. See "Cautionary Note Concerning Reserve and Resource Estimates" and "Mineral Reserves & Mineral Resources" table on slides 2 and 33. NOVAGOLD 23
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