Slide 1: Results for Q2 2022
NYSE : GOLD TSX : ABX World class mines. World class people.
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, o
Slide 3: Group KPIs
Best Assets: Group Stronger Q2 performance across the portfolio keeps Barrick on track to achieve 2022 production targets KPIs… Goldrush Notice of Availability published in Federal Register starting the public comment period Significant progress made with Pueblo Viejo expansion project and additiona
Slide 4: Group operating results
Group operating results… Stronger Q2 performance across the portfolio, Gold operating results Q2 2022 Q1 2022 Q2 2021 H1 2022 particularly at Carlin, Turquoise Ridge, Veladero, Attributable production (koz) 1,043 990 1,041 2,033 Bulyanhulu, North Mara and Lumwana Cost of sales ($/oz)4 1,216 1,190 1,
Slide 5: Group financial results
Group financial results… Financial Results Q2 2022 Q1 2022 Q2 2021 H1 2022 Revenue ($ million) 2,859 2,853 2,893 5,712 Strong operating results and balance sheet supports $0.20/share dividend Net earnings ($ million) 488 438 411 926 $0.10 for the base dividend Adjusted net earnings ($ million)2 419
Slide 6: Sustainability: Investing in a better future
Sustainability Scope 3 emissions: Scoping our full carbon footprint Investing in a Transparent disclosure: we will continue to better future disclose our Scope 3 emissions and, with the adoption of supplier-specific emissions, aim and refine the accuracy of our emissions profile annually . Scope 3 m
Slide 7: Health & Safety
Health & Safety… Total Recordable Injury Frequency Rate Group Lost Time Injury Frequency Rate (LTIFR)9 and (TRIFR)9 - significant reduction quarter-on-quarter Total Recordable Injury Frequency Rate…2018 to 2022 from 1.83 to 1.19 2.50 LatAm & Asia Pacific and Africa & Middle East 2.24 leading the way
Slide 8: Environment & Community
Environment & Community… Public Hearing at Pueblo Viejo for the new Tailings Storage Facility Recorded zero Class One (high impact) and Class Two Before environmental incidents across the Group in Q210 Reduced Class Three incidents by more than 7% compared to the same period in 202110 During Q2, the
Slide 9: North America
North America… Nevada hosts 3 Tier One11 gold mines owned Donlin (50%) (61.5%) and operated by CANADA Barrick Hemlo 100% Golden Sunlight Toronto NGM (61.5%) corporate Turquoise Ridge USA office Carlin Fourmile 100% Cortez Tier One gold mines Other gold mines Pipeline projects Closure project 9
Slide 10: Nevada Gold Mines operating results
Nevada Gold Mines… Nevada Gold Mines (61.5%)12 Q2 2022 Q1 2022 Q2 2021 H1 2022 operating results Ore tonnes processed (000) 8,152 9,075 12,316 17,227 Nevada, USA Average grade processed (g/t) 2.23 1.98 1.66 2.10 Recovery rate (%) 77% 77% 79% 74% Steady production quarter on quarter and on track to d
Slide 11: Nevada: Growth Across the Core Districts
Nevada…Growth Across the Core Districts Optimal risk balance between exploration for long term, standalone deposits and near mine satellites while extending and converting ounces in and around existing targets El Nino – New zone discovered to the east Turquoise Ridge – drilling ongoing at and succes
Slide 12: North Leeville and North Turf on track for resource additions
North Leeville and North Turf on track for resource additions… Level Section at 1,100m, Dipping 10o N, 150m thick V North Leeville 0.7Moz maiden inferred resource (1.9Mt at 11.5g/t Au)13,i Resource expected to grow further in 2022: N NLX-22013bii: 27.4m at 19.57g/t NLX-00011ii NLX-22013bii 44.2m at
Slide 13: REN on track for resource additions
REN on track for resource additions… Level Section, +3000, Dipping 10o N, 150m thick V 1.2Moz maiden inferred resource RU-24Cii (5.2Mt at 7.3g/t Au)13,i MRC-22001ii 45.7m at 32.54g/t N MRC-21016ii 0.050Moz indicated resource 27.7m at 11.49g/t V 15.2m at 5.61g/t 36.6m at 13.95g/t (0.11Mt at 14.40g/t
Slide 14: Canada: building a robust portfolio in a favorable jurisdiction
Canada…building a robust portfolio in a favorable jurisdiction Exploration investment in growing portfolio 4 projects under option while continuing to evaluate opportunities to add or consolidate ground in one or more of the prospective Canadian gold belts At Hemlo, new geological model completed to
Slide 15: Latin America and Asia-Pacific
Pueblo Viejo (60%) Latin America DOMINICAN REPUBLIC and Asia- GUYANA AFGHANISTAN Pacific… SURINAME Reko Diq IRAN PAKISTAN, Balochistan Growth INDIA Pierina projects PERU continue to Zaldivar 50% JAPAN advance Norte Abierto 50% Pascua-Lama 100% Veladero 50% Alturas 100% ARGENTINA CHILE PAPUA NEW GUIN
Slide 16: Pueblo Viejo operating results
Pueblo Viejo…operating results Dominican Republic Pueblo Viejo (60%) Q2 2022 Q1 2022 Q2 2021 H1 2022 Ore tonnes processed (000) 1,304 1,511 1,307 2,815 Consistent production quarter on quarter driven by higher grades, largely offset by lower throughput due to planned Average grade processed 2.95 2.4
Slide 17: Exploration in Pueblo Viejo District and Dominican Republic
Exploration in Pueblo Viejo District and Dominican Republic… V Undifferentiated Quaternary Los Ranchos Diorite Block-Lower N Sandstone and Limestones (Las Lagunas Formation) At Pueblo Viejo, exploration activities focused on 3 areas of 2 Limestone (Hatillo Formation) Silica Cap interest: Los Ranchos
Slide 18: Veladero operating results
Veladero…operating results Argentina Veladero (50%) Q2 2022 Q1 2022 Q2 2021 H1 2022 As expected, significant improvement in Q2 Ore tonnes processed (000) 3,381 3,506 3,241 6,887 production driven by higher tonnes stacked and Average grade processed (g/t) 0.71 0.67 0.77 0.69 higher grades Gold produc
Slide 19: LatAm exploration
LatAm exploration… Dominican Republic Dominican Republic – Developing multiple Pueblo Viejo satellite targets while building regional portfolio Guiana Guiana Shield – Generative work identifies Shield new AOIs as exploration progresses in Guyana La Ortiga Norte Peru – Portfolio review promotes targe
Slide 20: Reko Diq, Pakistan: large undeveloped deposit in established geological belt
Reko Diq, Pakistan…large undeveloped deposit in established geological belt Reko Diq is located in the Tethyan Belt, a highly prospective tectono-magmatic and metallogenic belt extending from Eastern Europe to Southeast Asia Several major copper and gold mines, geologically similar to Reko Diq, have
Slide 21: Reko Diq: The Path Forward
Reko Diq…The Path Forwardi Framework agreement signed by all parties for reconstitution of the Reko Diq project The Reko Diq project is contemplated to be constructed in 2 Phases subject to an updated feasibility study, with additional opportunity for a Phase 3 Definitive and Other Legalization and
Slide 22: Africa & Middle East
Africa & Middle East… Jabal Sayid EGYPT 50% Performance SAUDI ARABIA MALI excels on all SENEGAL Loulo-Gounkoto fronts 80% MALI Kibali 45% DRC Tongon 89.7% COTE D’IVOIRE North Mara 84% DRC Bulyanhulu 84% Buzwagi TANZANIA TANZANIA Lumwana 100% ZAMBIA ZAMBIA Tier One gold mines Potential Tier One gold
Slide 23: Loulo-Gounkoto operating results
Loulo-Gounkoto…operating results Mali Loulo-Gounkoto (80%) Q2 2022 Q1 2022 Q2 2021 H1 2022 Ore tonnes processed (000) 1,018 995 1,001 2,013 Tier One asset delivers another quarter of steady, Average grade processed (g/t) 4.72 4.74 4.93 4.73 strong production Recovery rate (%) 91% 91% 90% 91% All per
Slide 24: Senegal Exploration: multiple targets with standalone potential
Senegal Exploration…multiple targets with standalone potential V Mali Yalea N Loulo Bambadji-Dalema permits Senegal Permit Results from a high-resolution airborne magnetic survey will improve the Northern Shears resolution of the geological interpretation of the Senegal exploration portfolio Djenebo
Slide 25: Kibali operating results
Kibali…operating results DRC Kibali (45%) Q2 2022 Q1 2022 Q2 2021 H1 2022 As expected, higher Q2 production driven by Ore tonnes processed (000) 862 781 896 1,643 throughput following planned mill maintenance in Q1 Average grade processed 3.37 3.37 3.52 3.37 Improvement in Q2 total cash costs5 and A
Slide 26: Tanzania operating results
Tanzania…operating results North Mara North Mara (84%) Q2 2022 Q1 2022 Q2 2021 H1 2022 Higher throughput, grade and recovery drove an 18% Gold produced (oz 000) 66 56 63 122 increase in Q2 production versus prior quarter Cost of sales ($/oz)4 1,060 852 975 963 Open pit ramp-up continues to advance a
Slide 27: Copper Operations
Copper Operations… Lumwana, Zambia Lumwana (100%) Q2 2022 Q1 2022 Q2 2021 H1 2022 As expected, higher grades and improved mill availability drove Copper produced (lbs million) 75 57 56 132 a 32% increase in Q2 production versus Q1 Cost of sales ($/lb)4 2.01 2.20 2.36 2.10 All per pound cost metrics
Slide 28: Jabal Sayid: multiple growth opportunities with recent strong results
Jabal Sayid… multiple growth opportunities with recent strong results Preliminary down-hole Lode 1 - drilling continues to demonstrate strong growth potential down-plunge to geophysics results identified the southwest with a high-grade feeder zone intersected at depth. multiple off-hole conductive R
Slide 29: Lumwana: evaluating the Chimi Superpit opportunity
Lumwana…evaluating the Chimi Superpit opportunity targeting near surface satellite mineralisation Lubwe V Higher grade near surface portions prioritised N SW Starter Pit area drilling has demonstrated low strip, thick, Kamaranda mineralised intercepts with increase in grades compared to those modele
Slide 30: Our Commitment to Shareholder Returns
Our Commitment to Shareholder Returns… Quarterly dividend of $0.20 per share announced for Q2 2022 - Base Dividend of $0.10 and Performance Dividend of $0.10 In addition to our quarterly base dividend, a performance dividend is declared based on amount of cash, net of debt, on our balance sheet at t
Slide 31: Creating shareholder value from gold and copper
Creating shareholder value from gold and copper… Best asset base Largest portfolio of Tier One and world-class gold and copper assets that is unmatched in the industry, with several more waiting in the wings including Reko Diq Growing copper exposure Well positioned to capitalize on global decarboni
Slide 32: Barrick
BARRICK
Slide 33: Endnotes
Endnotes 1. “Free cash flow” is a non-GAAP financial performance measure which deducts capital expenditures from net cash provided by operating activities. Management believes this to be a useful indicator of our ability to operate without reliance on additional borrowing or usage of existing cash.
Slide 34: Endnotes
Endnotes 7. “EBITDA” is a non-GAAP financial measure, which excludes the following from net earnings: income tax expense; finance costs; finance income; and depreciation. Management believes that EBITDA is a valuable indicator of our ability to generate liquidity by producing operating cash flow to
Slide 35: Endnotes
Endnotes 13. Nevada Gold Mines reserve and resource table on a NGM attributable basis as of December 31, 2021. Estimated in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects as required by Canadian securities regulatory authorities. Mineral resources are repor
Slide 36: Appendix A – North Leeville Significant Intercept Table
Appendix A – North Leeville Significant Intercept Tablei i. All intercepts calculated using a 3.4 g/t Au cutoff and are uncapped; minimum intercept width is 3.0m; internal dilution is less North Leeville Drill Results than 20% total width. ii. Carlin Trend drill hole nomenclature: Project (CGX – Gre
Slide 37: Appendix A – North Turf Significant Intercept Table
Appendix A – North Turf Significant Intercept Tablei North Turf Drill Results i. All intercepts calculated using a 3.4 g/t Au cutoff and are uncapped; minimum intercept width is 3.0m; internal dilution is less than 20% total width. Core Drill Holeii Azimuth Dip Interval (m) Width (m)iii Au (g/t) ii.
Slide 38: Appendix A – North Turf Significant Intercept Table
Appendix A – North Turf Significant Intercept Tablei i. All intercepts calculated using a 3.4 g/t Au cutoff and are North Turf Drill Results uncapped; minimum intercept width is 3.0m; internal dilution is less than 20% total width. Core Drill Holeii Azimuth Dip Interval (m) Width (m)iii Au (g/t) ii.
Slide 39: Appendix B – REN Significant Intercept Table
Appendix B – REN Significant Intercept Tablei Ren Drill Results i. All intercepts calculated using a 3.4 g/t Au cutoff and are uncapped; minimum intercept width is 3.0m; internal dilution is less Core Drill Holeii Azimuth Dip Interval (m) Width (m)iii Au (g/t) than 20% total width. ii. Carlin Trend
Slide 40: Appendix C – Bambadji Significant Intercept Table
Appendix C – Bambadji Significant Intercept Tablei Bambadji Drill Results Including Core Drill Holeii Azimuth Dip Interval (m) Width (m)iii Au (g/t) Interval (m) Width (m)iii Au (g/t) 52-74 22.0 2.44 FARC001 90 -50 129-132 3.0 1.49 69-77 8.0 3.42 i. All intercepts calculated using a 0.5 g/t Au cutof
Slide 41: Appendix D – Jabal Sayid Significant Intercept Table
Appendix D – Jabal Sayid Significant Intercept Tablei Jabal Sayid Drill Results i. All intercepts calculated using a 0.5 % Cu cutoff and are Core Drill Holeii Azimuth Dip Interval (m) Width (m)iii Cu (%) uncapped; minimum intercept width is 2.0m; internal dilution is less than 5m total width. 345.74