Barrick Mining Corporation · TSX:ABX
Barrick Mining — Investor Presentation (May 2024)
20 slides from Barrick Mining's investor presentation, May 2024
Slide 1: World class mines. World class people.
World class mines. World class people. NYSE: GOLD TSX: ABX Investor Presentation May 2024
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 Global Mining Company
A World-Class Global Mining Company… Best gold company Building a Tier One1 copper business Investing in growth Significant portfolio of Balance Sheet Strength A3 #1 gold and Net leverage near zero Moody’s credit rating Barrick is the largest gold copper Highest in the gold industry producer i
Slide 4: Best portfolio of Tier One gold assets
GOLD Best portfolio of Tier One gold assets Barrick 5-Year Gold Outlooki 6 Tier One gold assets Gold production (attributable) Moz Cost of sales3, North America (Nevada) Total gold capital expenditure 2023 Gold Production Carlin (attributable) $ billion2 Total cash costs4, AISC $/oz4 geographical Co
Slide 5: Copper... the most strategic metal
COPPER... Doubling copper production by 2029 the most Barrick 5-Year Copper Outlooki strategic metal Copper production (attributable) Mlbs Cost of sales3, C1 cash costs5 and AISC $/lb5 Total copper capital expenditures (attributable) $ billion2 0.7 4.0 2023 Copper Production Lumwana 0.6 3.5 geograph
Slide 6: Key Growth Projects to enhance current production and add to our reserve base
Key Growth Projects to enhance current production and add to our reserve base… GOLDRUSH, NGM JV (61.5%) FOURMILE, Nevada (100%) PUEBLO VIEJO JV (60%) Ramp up of recently permitted underground Growing mineral resource inventory leading to Plant and TSF capacity expansions extend mine underway prefeas
Slide 7: Barrick continues to deliver reserve growth
Barrick continues to GOLD RESERVES Moz deliver reserve growth… 90 80 Delivered unparalleled growth of reserve 70 base maintaining the highest gold reserve 60 grade amongst peers 50 Since year-end 2019: Organically replaced over 140% of mined 40 76 77 gold reserves, adding almost 29Moz of 69 68 69 30
Slide 8: Building for the Future
Building for the Future… Gold Equivalent Mozi 8 ~ 7.0Moz 7 GEO by 2030 Gold equivalent production 6 outlook with Reko Diq and 5 Lumwana Super Pit forecasted >30% to reach ~7.0 Moz by 2030 4 growth by the end of 3 the decade driven by our 2 organic project pipeline and continued 1 reserve replacement
Slide 9: Industry-Leading Shareholder Alignment
Industry-Leading Cumulative Shareholder Returnsi Shareholder Alignment 5,000 US$ millions Since 2019 - $4.9 billion returned to 4,500 shareholders in the form of dividends, returns of capital, and share buybacks 4,000 Clear dividend policy driven by cash balancei 3,500 Quarterly base dividend of $0.
Slide 10: Ownership Culture...Industry leader in G&A cost efficiency
Ownership Culture…Industry leader in G&A cost efficiency 2024E G&A as % of Consolidated Revenue 2024E G&A as % of Consolidated Operating CF 2024E G&A as $ per attributable GEO +179% +136% +99% 2.8% 8.7% 55 3.7% 28 1.0% Barrick Peer Group Average Barrick Peer Group Average Barrick Peer Group Average
Slide 11: Renewable-based power strategies and technology drive higher efficiencies and lower costs
Renewable-based power strategies and technology Nature Action is underpinned by biodiversity drive higher efficiencies and lower costs preservation, conservation and restoration Garamba National Park – 15 years of support including elephant collaring, reintroduction of white rhino and infrastructure
Slide 12: Consensus Peer Dashboard – May 6, 2024 – GOLD
Consensus Peer Dashboard – May 6, 2024 – GOLD Barrick Agnico Eagle Newmont Market Cap1 (US$BN) $29.3 $32.3 $42.7 Net Debt (US$BN)3 $0.8 $1.7 $7.1 Consensus P/NAV2 (x) 0.91x 1.63x 1.20x Dividend Yield1,4 (%) 2.4% 2.4% 2.4% 2024: 6.6x 2024: 10.3x 2024: 8.7x Consensus Cashflow 2025: 5.6x 2025: 10.2x 20
Slide 13: Consensus Peer Dashboard – May 6, 2024 – COPPER
Consensus Peer Dashboard – May 6, 2024 – COPPER Barrick Freeport-McMoRan Antofagasta Market Cap1 (US$BN) $29.3 $73.1 $27.1 Net Debt (US$BN)3 $0.8 $3.2 $0.7 Consensus P/NAV2 (x) 0.91x 1.52x 1.98x Dividend Yield1,4 (%) 2.4% 1.2% 1.8% 2024: 6.6x 2024: 10.6x 2024: 11.5x Consensus Cashflow 2025: 5.6x 202
Slide 14: Why invest in Barrick?
Why invest in Barrick? World class copper projects set to deliver Sustainable growth Best quality gold into rising price and offered by current assets in the industry demand development projects Significant cash flow Strong balance sheet Clear dividend to fund development to support forecast policy
Slide 15: Learn more
Learn more Annual Sustainability Quarterly View our latest reports Report Report Reports www.barrick.com NYSE : GOLD TSX : ABX
Slide 16: Technical Information
Technical Information The scientific and technical information contained in this MD&A has been reviewed and approved by Craig Fiddes, SME-RM, Lead, Resource Modeling, Nevada Gold Mines; Richard Peattie, MPhil, FAusIMM, Mineral Resources Manager: Africa and Middle East; Simon Bottoms, CGeol, MGeol, F
Slide 17: Appendix A – Assumptions/Outlook
Appendix A – Assumptions/Outlook Key Outlook Assumptions 2023 2024 2025+ Gold Price ($/oz) 1,948 1,900 1,300 Copper Price ($/lb) 3.85 3.50 3.00 Oil Price (WTI) ($/barrel) 85 75 75 AUD Exchange Rate (AUD:USD) 0.75 0.75 0.75 ARS Exchange Rate (USD:ARS) 800 800 800 CAD Exchange Rate (USD:CAD) 1.30 1.30
Slide 18: Appendix B – Barrick Historical Attributable Mineral Reserves
Appendix B – Barrick Historical Attributable Mineral Reservesi,ii Proven Probable Total Tonnes Grade Contained ozs Tonnes Grade Contained ozs Tonnes Grade Contained ozs Year Gold Price Assumption (Mt) (g/t) (Moz) (Mt) (g/t) (Moz) (Mt) (g/t) (Moz) 2019 $1,200/oz 280 2.42 22 1,000 1.44 47 1,300 1.65 6
Slide 19: Appendix C – Barrick Attributable Historical Gold Production
Appendix C – Barrick Attributable Historical Gold Productioni On Attributable Basis: Twelve Months Gold Production Ending (koz) December 31: 2019 5,465 2020 4,760 2021 4,437 2022 4,141 2023 4,054 Total 22,857 19
Slide 20: Appendix D – Barrick Performance Dividend Policy
Appendix D – Barrick Performance Dividend Policy Beginning in 2022, Barrick established a performance dividend policy that will enhance the return to shareholders when our liquidity is strong. The amount of the performance dividend on a quarterly basis will be based on the amount of net cash on Barr