Slide 1: Results for Q4 and year ending December 31, 2021
Results for Q4 and year ending December 31, 2021… Turquoise Ridge
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 Barrick delivers production in line with guidance for third consecutive year Nevada Gold Mines achieves highest quarterly production since its formation KPIs… Strong Q4 for Lumwana with Jabal Sayid at top end of production guidance range Attributable group reserves more than repla
Slide 4: Group operating results
Group operating results… Achieved gold and copper production guidance for Gold operating results Q4 2021 Q3 2021 2021 2020 the third consecutive year despite the ongoing challenges of Covid-19 Attributable production (koz) 1,203 1,092 4,437 4,760 Solid finish in Q4: Cost of sales ($/oz)4 1,075 1,122
Slide 5: Group financial results
Group financial results… Financial Results Q4 2021 Q3 2021 2021 2020 Adjusted net EPS2 up 46% versus Q3 Revenue ($ million) 3,310 2,826 11,985 12,595 Free cash flow1 increased to $718 million in Q4 Net earnings ($ million) 726 347 2,022 2,324 given strong finish to the year Adjusted net earnings ($
Slide 6: Health & Safety
Health & Safety… Fatality at North Mara – January 26, 2022 LTIFR3 and TRIFR 2018 - 2021 Total Recordable Incident Frequency Rate (TRIFR) for GROUP LTIFR GROUP TRIFR 2.5 2021 was 1.47 – a ~13% decrease from 2020 and 2.24 2.12 continuing the trend year on year 2.0 ISO 45001 audits completed and certi
Slide 7: North America
North America… Nevada hosts 3 Tier One gold mines9 owned Donlin (61.5%) and (50%) operated by CANADA Barrick Hemlo 100% NGM (61.5%) Golden Sunlight Toronto Turquoise Ridge corporate Carlin USA office Cortez Fourmile 100% Tier One gold mines Other gold mines Pipeline projects Closure project 7
Slide 8: Nevada Gold Mines generates significant FCF
Nevada Gold Mines generates significant FCF1…. Nevada, USA Quarterly production record with significant cost improvement vs Q3 Nevada Gold Mines Q4 2021 Q3 2021 2021 2020 Goldstrike roaster processed higher grade underground ore (61.5%)10 previously stockpiled Gold produced (oz 000) 604 495 2,036 2,
Slide 9: Nevada: reserve and resource additions
Nevada…9.4Moz P&P Reserve, 7.4Moz M&I and 5.3Moz Inferred Resource additionsi,15 (including acquisitions and before depletion) Turquoise Ridge – added Carlin Pits – increased efficiencies & acquisitions add 2.2Mozi,15 of reserves and REN – 1.2Mozi,15 maiden inferred 2.1Moz M&Ii,15 to resources at So
Slide 10: Latin America and Asia-Pacific
Pueblo Viejo (60%) Latin America DOMINICAN REPUBLIC and Asia- GUYANA Pacific… SURINAME Growth JAPAN Pierina projects PERU continue to Zaldivar 50% advance Norte Abierto 50% Pascua-Lama 100% Veladero PAPUA NEW GUINEA Porgera 47.5% 50% Alturas 100% ARGENTINA CHILE Tier One gold mines Other gold mines
Slide 11: Pueblo Viejo operating results
Pueblo Viejo…operating results Dominican Republic 2021 production and cost guidance achieved with Pueblo Viejo (60%) Q4 2021 Q3 2021 2021 2020 AISC5 below the bottom end Ore tonnes processed (000) 1,365 1,446 5,466 5,297 Production in Q4 lower due to planned plant maintenance Average grade processed
Slide 12: Veladero operating results
Veladero…operating results Argentina 2021 attributable production of 172koz exceeded Veladero (50%) Q4 2021 Q3 2021 2021 2020 guidance top-end of 150koz Ore tonnes processed (000) 3,442 3,126 11,114 12,017 Stronger performance from the additional Average grade processed (g/t) 0.81 0.71 0.77 0.84 sta
Slide 13: Africa & Middle East
Africa & Middle East… EGYPT Jabal Sayid 50% 165% of gold SAUDI ARABIA MALI reserve SENEGAL depletion Loulo-Gounkoto 80% MALI Kibali 45% replacedi,11 Tongon 89.7% COTE D’IVOIRE DRC North Mara 84%i DRC Bulyanhulu 84%i Buzwagi TANZANIA TANZANIA Lumwana 100% ZAMBIA ZAMBIA Tier One gold mines Potential T
Slide 14: Loulo-Gounkoto continues to produce at top end of guidance range
Loulo-Gounkoto continues to produce at top end of guidance range Mali 2021 attributable production of 560koz was at Loulo-Gounkoto (80%) Q4 2021 Q3 2021 2021 2020 the top end of guidance range (700koz at Ore tonnes processed (000) 1,019 1,011 4,015 3,916 100%) Total cash costs5 and AISC5 well within
Slide 15: Kibali operating results
Kibali…operating results DRC Kibali (45%) Q4 2021 Q3 2021 2021 2020 2021 production and cost guidance achieved, with all metrics within the guidance ranges Ore tonnes processed (000) 841 872 3,503 3,434 (812koz at 100%) Average grade processed (g/t) 3.90 3.73 3.62 3.68 Recovery rate (%) 89% 90% 90%
Slide 16: Kibali underground drilling defines new high grade 11000 Lode
Kibali…underground drilling defines new high grade 11000 Lode above base of shaft infrastructure Sessenge KCD Pit Pit 3000 Lode 2021: 3000 Lode 5000 Lode Expected Mineral 9000 Lode Reserve Extension 11000 Lode Actual Development Development Design 2021: 9000 Lode Expected Mineral Reserve Extension H
Slide 17: Tanzania significant reserves added at North Mara & Bulyanhulu
Tanzania…significant reserves added at North Mara & Bulyanhulu North Mara North Mara (84%)12 Q4 2021 Q3 2021 2021 2020 2021 production and cost guidance achieved 2022 attributable production guidance of 230 – 260koz Gold produced (oz 000) 69 66 260 261 All per ounce cost metrics expected to be consi
Slide 18: Copper Operations
Copper Operations… Lumwana, Zambia Lumwana (100%) Q4 2021 Q3 2021 2021 2020 Higher throughput drove significant improvement in Q4 Copper produced (lbs million) 78 57 242 276 production following the commissioning of a new fleet Cost of sales ($/lb)4 2.16 2.54 2.25 2.01 2022 production guidance of 25
Slide 19: Barrick: Taking ESG to the next level
Biodiversity management is not We ensure we create a BARRICK… only critical to the way we adapt to climate change but also in the sustainable business that continues to uplift our host Taking ESG to fight against poverty communities and countries, the next level building their resilience to a changi
Slide 20: Raising the Bar on Sustainable Mine Closure
Raising the Bar on Sustainable Mine Closure… When we end mining operations, we leave behind healthy, thriving communities and natural environments Closure plans are developed with the objective of protecting the people, communities and environment while minimizing our long-term financial obligations
Slide 21: Environment & Community
Environment & Community… North Mara Tailings Storage Facility (TSF) Before Zero Class 1 (high impact) environmental incidents were recorded in 2021. 38% decrease in Class 2 (medium impact) incidents year-on-year13 Group (including power plants) emissions of 1,798kt of CO2-e in Q4i 2021 annual emissi
Slide 22: Investing in our future: gold reserves replaced after depletion
Investing in our future…gold ATTRIBUTABLE CONTAINED GOLD RESERVESi,11,14: Moz reserves replaced after Net Conversion 2021 depletion by mining 2020 Acquisition/ Disposition Depletion GOLD Gold reserves are estimated using a gold price assumption of $1,200/oz (unchanged from 2020) 2021 attributable pr
Slide 23: Value creation: industry leading returns supported by strong balance sheet
Value creation…industry leading returns supported by strong balance sheet Generation of Returns from January 1, 2019 to December 31, 2021 US$ billion 14 6 Repayment of Debt 12 Divestiture of Cash Balance Non Core Assets 5 of $5.3 billion Dec 31, 2021 10 Dividends Operating 4 Cash Flow Return of 8 Ca
Slide 24: Our Commitment to Shareholder Returns
Our Commitment to Shareholder Returns… Shareholder Distribution Strong track record of growing returns over the past 5 years cents per share Returned a record $1.4 billion of cash to shareholders in 90 Base Dividend Return of Capital 2021, including a $750 million return of capital 80 70 Looking ahe
Slide 25: Cumulative Attributable Free Cash Flow from Operating Mines (2022-2026)
Cumulative Attributable Free Cash Flowi,1 from Operating Mines (2022 – 2026) Barrick has six Tier One mines – unparalleled in the industry Tier One Gold Assets $25B Other Gold Assets For every $100/oz change in the gold price, attributable free cash Copper Assets flowi,1 generated by our operations
Slide 26: 5 Year Summary: Group Gold
5 Year Summary…Group Gold ($1,700/oz Gold Price) Gold & GEO Production (Attributable), Moz Gold Cost of Sales4, Total Cash Costs5 and Total Gold Capital Expenditures8 (Attributable), $ mln AISC5, $/oz Africa and Middle East LATAM and AP North America GEO Cost of Sales4 Total Cash Costs 5 AISC5 Total
Slide 27: 5 Year Summary: Group Copper
5 Year Summary…Group Copper ($4/lb Copper Price) Copper Production (Attributable), Mlbs Copper Cost of Sales4, C1 Cash Costs6 and Total Copper Capital Expenditures8 (Attributable), $ mln AISC6, $/lb Jabal Sayid Zaldivar Lumwana Cost of Sales4 C1 Cash Costs6 AISC6 Total Copper Capital8 550 3.00 2.80
Slide 28: 10 Year Summary: Group Gold
10 Year Summary…Group Gold Gold & GEO Production (Attributable), Africa and Middle East LATAM and AP North America GEO Moz 6.0 5.5 5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Note i: Gold Equivalent Ounces (GEO) are calculated using reserve pric
Slide 29: Why Invest in Barrick
Why Invest in Barrick… Best asset base Largest portfolio of best in class Tier One gold assets and producing copper mines that is unmatched in the industry, with several more waiting in the wings Clear runway All our mines have 10-year business plans – in some cases being rolled out to 15 and 20 yea
Slide 30: 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 31: 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 32: Endnotes
Endnotes 14. Estimated in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects as required by Canadian securities regulatory authorities. Attributable estimates are as of December 31, 2020. Proven reserves of 280 million tonnes grading 2.37 g/t, representing 21 m
Slide 33: Endnotes
Endnotes 16. “Realized price” is a non-GAAP financial measure which excludes from sales: unrealized gains and losses on non-hedge derivative contracts; unrealized mark-to-market gains and losses on provisional pricing from copper and gold sales contracts; sales attributable to ore purchase arrangeme
Slide 34: Appendix A - 5-Year Summary: North America
APPENDIX A – 5-YEAR SUMMARY: NORTH AMERICA ($1,700/oz Gold Price) Gold Production (Attributable), Moz Gold Cost of Sales4, Total Cash Costs5 and Capital Expenditures8 (Attributable), $ mln AISC5, $/oz Hemlo Phoenix Long Canyon Turquoise Ridge Cortez Carlin Cost of Sales4 Total Cash Costs5 AISC5 Tota
Slide 35: Appendix B - 5-Year Summary: LATAM
APPENDIX B – 5-YEAR SUMMARY: LATAM ($1,700/oz Gold Price) Gold Production (Attributable), Moz Gold Cost of Sales4, Total Cash Costs5 and Capital Expenditures8 (Attributable), $ mln AISC5, $/oz Veladero Pueblo Viejo Cost of Sales4 Total Cash Costs5 AISC5 Total Capital8 1.5 1,300 1.4 1,200 1.3 1,100 1
Slide 36: Appendix C - 5-Year Summary: AME
APPENDIX C – 5-YEAR SUMMARY: AME ($1,700/oz Gold Price) Gold Production (Attributable), Moz Gold Cost of Sales4, Total Cash Costs5 and Capital Expenditures8 (Attributable), $ mln AISC5, $/oz Tongon Buzwagi Bulyanhulu North Mara Kibali Loulo-Gounkoto Cost of Sales4 Total Cash Costs5 AISC5 Total Capit
Slide 37: Appendix D - Outlook
APPENDIX D – Outlook Key assumptions 2022 2023+ Gold Price ($/oz) 1,700 1,200 Copper Price ($/lb) 4.00 2.75 Oil Price (WTI) ($/barrel) 65 65 AUD Exchange Rate (AUD:USD) 0.75 0.75 ARS Exchange Rate (USD:ARS) 100 100 CAD Exchange Rate (USD:CAD) 1.30 1.30 CLP Exchange Rate (USD:CLP) 800 800 EUR Exchang