Slide 1: Building Barrick for the Future
Building Barrick for the Future… May 2025
Slide 2: Cautionary Statement on Forward-Looking Information
Cautionary Statement on Forward-Looking Information… Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes “forward-looking statements”. All statements,
Slide 3: A world class Gold and Copper mining company
A world class Gold and Copper mining company… 6 Tier One1 gold mines 3 copper mines Significant gold and copper growth projects Copper AME 79% Gold AME 37% Gold NA 46% Gold Latam & AP 17% Copper Latam & AP 21% 3
Slide 4: Group Highlights Q1 2025
Group Highlights Q1 2025… $0.27 59% y/y $0.35 84% y/y $1,361m 50% y/y Adjusted net earnings per Net earnings per share Attributable EBITDA3 share2 $0.10/sh $143 million $623 million 5% Quarterly dividend Share buybacks Debt, net of cash Reko Diq and Fourmile gold Lumwana Expansion New Discove
Slide 5: Sustainability is core to our business
Sustainability is core to our business… Group Frequency Rates Leading Indicators LTIFR4 - 57% Integrated Risk Management and Critical improvement compared to Controls associated with Fatal Risks into Q1 2024 all work activities TRIFR4 - 44% improvement 347 Critical Control Verifications compared to
Slide 6: North America
North America… Nevada Gold Mines - Performance improvements continue Fourmile - outstanding drill results moves project into prefeasibility study stage Strengthened Canadian exploration team delivers promising drill targets Agreement reached to sell 50% stake in Donlin for $1bn, plus additional opti
Slide 7: Latin America & Asia Pacific
Latin America & Asia Pacific Pueblo Viejo throughput projects completed successfully, ramp up remains on track to deliver on guidance Reko Diq construction begins and new discovery within mining license Construction started on Veladero Phase 8A Leachpad Porgera – gold production 62% higher q/q drive
Slide 8: Africa & Middle East
Africa & Middle East… Kibali production lower q/q but higher grades planned to be fed later in the year primarily driven by the underground Loulo-Gounkoto - Temporarily suspended operations on January 14 following ongoing dispute over existing mining conventions – negotiations continue Tanzanian min
Slide 9: Change in Reserves Per Share over time
Change in Reserves Per Share over time… Barrick has managed to consistently and materially add to reserves per share providing investors with increased long term value5 Change GoldinReserves Gold Reserves per Share per Share Gold Equivalent Reserves Per Share 200% +82% 180% 160% +33% 140% 120% +12%
Slide 10: Best in class Gold and Copper assets
Best in class Gold and Copper assetsi… PRODUCTION - Gold Equivalent Ouncesii 7,000 6,000 5,000 4,000 3,000 2,000 1,000 - 2025 2026 2027 2028 2029 Gold Copper Reko Diq - gold and copper PUEBLO VIEJO REN - NGM GOLDRUSH – NGM LUMWANA REKO DIQ FOURMILE ADVANCED EXPANSION avg 140koz gold >400kz gold p.a.
Slide 11: Prioritising shareholder returns
Prioritising shareholder returns… Cumulative attributable OCF over 2025-29 from operating minesi,iii Cumulative Distributions to Shareholders For every $100/oz change in gold price, attributable operating cash flow generated by our operations increases by more than $1.5bn $7.0 bn. $50 bn. For every
Slide 12: Barrick: world class global mining company focused on 5 key strategic pillars
Barrick…a world class global mining, exploration and development company focused on 5 key strategic pillars 1 Premier Portfolio Focus on our portfolio of long life Tier One gold assets and growing copper portfolio 2 Resource Sustainability Disciplined Reserve & Resource replacement to facilitate lon
Slide 13: Connect with us
BARRICK MINING CORPORATION Corporate Office: TD Canada Trust Tower 161 Bay Street, Suite 3700 Toronto, Canada M5J 2S1 Tel: +1 416 861-9911 Toll-free throughout North America: 1 800 720-7415 Connect with us 13
Slide 14: Appendix A – Assumptions/Outlook
Appendix A – Assumptions/Outlook Key Outlook Assumptions 2025 2026 2027+ Gold Price ($/oz) 2,400 2,400 2,400 Copper Price ($/lb) 4.00 4.00 4.00 Oil Price (WTI) ($/barrel) 80 70 70 AUD Exchange Rate (AUD:USD) 0.75 0.75 0.75 ARS Exchange Rate (USD:ARS) 1,000 1,000 1,000 CAD Exchange Rate (USD:CAD) 1.3
Slide 15: Endnotes
Endnotes... 1. A Tier One Gold Asset is an asset with a $1,400/oz reserve with potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and with costs per ounce in the lower half of the industry cost curve. A Tier One Copper Asset/Project is an asset with a $
Slide 16: Endnotes
Endnotes... 5. “Gold Reserves Per Share” are calculated by dividing total proven and probable reserves by the total number of Barrick common shares issued outstanding as of December 31 of the applicable year. “Gold Equivalent Reserves Per Share” are calculated by dividing total Gold Equivalent Reser
Slide 17: Endnotes
Endnotes... Proven and probable reserve gains calculated from cumulative net change in reserves from year-end 2019 to 2024. Reserve replacement percentage is calculated from the cumulative net change in reserves from 2020 to 2024 divided by the cumulative depletion in reserves from year-end 2019 to
Slide 18: Endnotes
Endnotes... Attributable Attributable Acquisition Net Change GEO & Divestments Attributable Depletion (using reported reserve Year Attributable P&P GEO GEO GEO prices) 2019a - - - - 2020b 97 (2.2) (7.4) 4.2 2021c 97 (0.91) (6.9) 8.5 2022d 104 - (6.3) 13 2023e 105 - (6.0) 6.7 2024f 176 - (6.1) 79 201
Slide 19: Endnotes
Endnotes... Estimates of proven and probable reserves The estimates below are estimated in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects as required by Canadian securities regulatory authorities. a) Estimates as of December 31, 2019: Proven reserves of 280