Under the deed, Newcrest has granted Newmont exclusivity until 11:59pm on 11 May 2023 to allow Newmont to conduct confirmatory due diligence on an exclusive basis. In summary, during the relevant period Newcrest must: 'No Shop': not directly or indirectly solicit a competing proposal; 'No Talk' and 'No Due Diligence': not participate in negotiations or discussions that would be reasonably expected to lead to a competing proposal or facilitate due diligence investigations in respect of Newcrest (including through the provision of non-public information) in connection with a competing proposal; and 'Notification Obligation': notify Newmont within 2 business days of any approach or proposal made by a third party in connection with a competing proposal (without an obligation to disclose the identity of the third party).