Slide 1: Africa & Middle East
BARRICK AFRICA & MIDDLE EAST 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: A Prospective Destination Combined with Agility
A Prospective Destination Combined with Agility Africa and Middle East (AME) is Africa’s largest gold producer and operates across several very different jurisdictions 7 operating Ultimately this has led to a diverse team that is agile, mines output and solution driven with the ability to deal with
Slide 4: AME Safety Performance
AME Safety Performance AME has tragically recorded 2 fatalities in Q1 of 2024 We have prioritized operational excellence and proactive management intervention to drive behavioral change Our safety effort is a collective responsibility led by our Executive team to permeate and give tangible meaning t
Slide 5: Key Achievements over the last 5 years
Key Achievements over the last 5 years Continuation of our track record of replacing and growing our reserves drives a bankable 10-year production profile Re-established our License to Operate in Tanzania through the Twiga partnership with government and delivering on our environmental and socia
Slide 6: Key Strategic Objectives 2024
Key Strategic Objectives 2024 • Operational excellence and proactive management intervention Journey to Zero • Journey to Zero and roll-out of fatal risk standards • Maintain and grow the AME 10-year production profile supported by a robust and integrated exploration pipeline • Deliver the Lumwana f
Slide 7: Investment into Life Extension and Flexibility
Investment into Life Extension and Flexibility Gold Equivalent Regional Mine Balancei Underground Openpit Overall improvement in contained material within the 15- year plan, increasing processing flexibility through the introduction of open pit mill feed Combined Tier One P&P Reserves grown year on
Slide 8: 10 Year Production Profile
10 Year Production Profile AME Forecast Gold Equivalent Production (attributable)i - Koz 2,800 2,600 Copper Gold 2,400 2,200 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Delivery of the Lumwana expansion increases the Copper contribution to
Slide 9: Kibali Site Visit
Operated by Kibali Site Visit… May 2024
Slide 10: About Kibali: A Tier One Gold Mine
ABOUT KIBALI: A TIER ONE GOLD MINE 1 Arthur Kabila…General Manager Damian Bricehouseman…Operations Manager 10
Slide 11: North Eastern DRC
North Eastern Kibali DRC 1 800 km a new frontier in world class Mombasa 1 950 km gold mining Dar es Salaam 11
Slide 12: Location of pits, deposits and targets
Ikamva Location of pits, deposits and Kalimva targets… Oere Nzoro road Mofu Exclusion zone Mengu Hill Aru road Pamao Megi-Marakeke Pakaka Aerodrome Rhino Kombokolo Kibali river Gorumbwa Plant KCD Sessenge 4 km 12
Slide 13: Key Milestones
Key Milestones… Gold Price US$/oz 2500 2010 2010 to date Mineral reserve Social upliftment - built and maintain over 300km of road, including connection to Ugandan border doubled to >10Mozi Public Participation 2022 Process 2000 Sept 2013 Cahier des Charges 4200 families resettled signed with commun
Slide 14: Kibali…Africa's largest and most automated gold mine
Kibali…Africa’s largest and In-Country Investment US$ millioni Infrastructure and community most automated gold mine support $209 million Salaries $659 million A previously non-existent economy boosted by infrastructure Payments to development - especially road access to the mine contractors and sup
Slide 15: Health and Safety
Health and Safety… Safety TRIFR2 A fatal incident was recorded in Q1 2024 involving mobile equipment 3 Refocussed on targeted training of individuals to drive operational excellence We believe safety is lived through behaviour 2 Rolled out Journey to Zero program with responsibility to stop unsafe w
Slide 16: Kibali Continues to Deliver Growth
Kibali Continues to Proven and Probable Mineral Reserves (P&P) Deliver Growth Ounces 000 12000 and Gold Production to datei 10000 4 consecutive years of replacing reserve 8000 depletion Constant updating of 6000 geological models combined with robust 4000 evaluations achieves P&P levels equivalent t
Slide 17: Kibali 10 Year Plan
Kibali 10 Year Plani… 900,000 Production – Open Pit Ounces Production – Underground Ounces 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Largest and most automated gold mine in Africa and a Tier One operation with a strong tr
Slide 18: Tailings Storage Facility
Tailings Storage Existing FTSF Facility… Existing CTSF New CTSF 3 planned for construction in Q2 2024 with completion end of Q3 2025. ESIA, MAA, Sterilisation drilling and Geotech studies and design completed for CTSF 3 Phase 1 New CTSF 3 Various FTSF deposition options looked at for new FTSF deposi
Slide 19: 2024 Outlook… delivering on our 2024 business plan
2024 Outlook… delivering on our 2024 business plan 2024 Production (Koz) Gold production in 2024 on track to achieve guidance (320-360 kozi) Q2 Rising production and falling costs H1 to H2 driven by grade Q1 H1 H2 Q1 open pit mining primarily focused on Pamao stripping for a larger pit shell which b
Slide 20: Cost and Efficiency Trends
Cost and Efficiency Trends… delivering on our 2024 business plan Underground: Successful transition to Multilite technology in underground operation (UG) UG Tonnes & Costs drives efficiency while supporting world class safety and automation UG Ore Tonnes Mined (Kt) practices Costs ($/t Mined) 6 UG T
Slide 21: Hydroelectric Power Generation 2023
Hydroelectric Power Generation…2023 Q4 2023 hydroelectric power blend averaged 90.89% Generating an average of 40 MW power at an average cost of 0.09 $/kWh MW/h Kibali Power Generation US$/kWh 40 0.30 35 0.25 30 0.20 25 20 0.15 15 0.10 10 0.05 5 0 - Dec-18 Apr-19 Aug-19 Dec-19 Apr-20 Aug-20 Dec-20 A
Slide 22: Powering Our Green Agenda… transition to renewable energy
Powering Our Green Agenda… transition to renewable energy 100% 2015 to 2017: Nzoro hydrostation capacity of ~22 MW, increasing hydro energy blend to ~55% 90% 2017: Ambarau hydrostation online with ~11MW installed SOLAR capacity 80% DIESEL 2018: Azambi hydrostation energized with ~11MW 70% installed
Slide 23: Community Development
COMMUNITY DEVELOPMENT Cyrille Mutombo…DRC Country Manager Social 23
Slide 24: Community Development Contributions
Community Development Contributions… BEFORE AFTER Durba Town RCC Church Doko-Aru Road Ture Bridge 24
Slide 25: Kibali…Sustainability Snapshot
Kibali…Sustainability Snapshot 14 years of value creation 36 Schools constructed, 2 tertiary institutions, 3 libraries, 2 markets, >100 bursaries State exam fees paid for over 10,000 students Several capacity building programmes (Entrepreneurship through challenge funds program with USAID, Local Par
Slide 26: Community Development
Community Development TOTAL 5 YEAR COMMUNITY DEVELOPMENT COMMITMENT Approximately $42,7 million Water Food Mangoro primary school Education Notable projects 2MW solar power project in Durba $9.5 million Regional Hospital in Watsa Community water supply system SPEND Health Durba and Aru mortuaries co
Slide 27: Community Development Projects
Community Development Projects Nzopi Market Before Faraje Cocoa project (100Ha) Nzopi Market Now KENGE Tailoring Factory Trainees 27
Slide 28: Kalimva-Ikamva resettlement officially completed
Kalinva-Ikanva resettlement officially completed Key achievements 1351 households relocated 189 graves exhumated and relocated Replacement land distributed to all entitled households Solar panel kit available and distributed to all relocated households Livelihood restoration under Previous houses Cu
Slide 29: Leaving a Legacy - Coffee Project
Leaving a Production of coffee in Haut-Uele Isiro was once known as the Golden Green Capital Legacy - because Haut-Uele province produced more than 30,000 tons of Robusta coffee per year Coffee Since early 1990’s Robusta production in Haut-Uele Project has dropped by more than 90% In 2021, official
Slide 30: Environment
ENVIRONMENT Cyrille Mutombo…DRC Country Manager
Slide 31: Environmentally focused
Environmentally focused… ISO 14001 certification standards maintained, refresher Fresh Water Abstracted Per Ton Of Ore Treated trainings held for management team and for internal lead auditors of the mine 1.2 1 Cyanide recovery plant commissioned and currently going 0.8 through optimization to stabi
Slide 32: Re-introduction of Rhinos to Garamba National Park
Investing in Biodiversity and Re-introduction Sustainability… of Rhinos to 1960: the white rhino population in Garamba park was 1,300 Garamba 1963 and 1966: 1,000 horns were transported from Faradje to Mombasa National Park 2006: The last rhino sighting in the Garamba Park 2009: LRAi affected area s
Slide 33: Growth
GROWTH Richard Peattie…Mineral Resources Manager, AME Social Gary Hurst…Regional Geologist, East Africa 33
Slide 34: MRM & Exploration link driving sustainable delivery and growth
MRM & Exploration link driving sustainable delivery and growth… 15–30 years 6–15 years Greenfields Exploration 0–5 years Brownfields Exploration Mineral Resource Management 34
Slide 35: Resource Triangle
Resource Aerodrome North Triangle… Gorumbwa Ikamva Pakaka-Pamao KCD/Sessenge Mines Mengu Hill Feasibility projects Rhino Reserve definition Kalimva Oere Sessenge Megi Sayi SW Marakeke Feasibility projects and Measured & indicated reserve and resource resources definition Inferred resources Advanced
Slide 36: Central East African Footprint… 3 World Class Terrains
Central East African Footprint… 3 World Class Terrains CAR South Sudan Kibali 45% Kibali DRC North Mara 84% TANZANIA Bulyanhulu 84% Uganda Kenya North Mara Lumwana Rwanda 100% ZAMBIA Burundi Bulyanhulu Barrick Asset DRC Gold Mine Tanzania Copper mine Closure project East African Craton - highly pros
Slide 37: Highly prospective district with potential for further discoveries
Highly prospective district with KZ trend Ikamva N Kalimva potential for further discoveries Oere to keep growing Kibali into the KZ North future… Mofu Mengu Ndala Potential for significant discoveries along the +50km KZ Pamao trend, within trucking distance to the Kibali plant Pakaka +90% of the KZ
Slide 38: KCD UG Deeps Expansion
KCD UG Deeps Expansioni… NE SW 5000 lode. 5000 lode. KCDU6552 KCD Pit DDD602 14.50m @ 2.13g/t Sessenge 16.80m @ 6.48g/t Inc. 6.50m @ 3.80g/t Pit 9000 lode 3000 lode 5000 lode 250m Inferred Resource stopes Shaft Bottom/Haulage Actual Development Level 5210 RL Development Design 3000 lode. KCDU6417 (m
Slide 39: KCD Area and ARK
KCD Area and ARKi Agbarabo-Rhino-Airbo-Kombokolo (ARK) – high-grade results and encouraging observations from multiple drill holes highlight the potential of the 1.5km wide corridor to potential for brownfields growth deliver a significant satellite deposit. Open along strike & down plunge. Plan map
Slide 40: KZ North… Potential for blind high grade discoveries
KZ North… Potential for blind high grade discoveriesi Recent results at Oere reinforce prospectivity at depth for the entire KZ-North trend Location map Drilling in progress at KZ North testing for a UG opportunity 15km from the plant Results to date confirm the ORDZ (host structure) down-dip, with
Slide 41: KZ North Case Study…evolution of Oere
Location KZ North Case Study…evolution of Oere map System weak on surface- improves at depth & with infill drilling Demonstrates that potential remains at depth across the entire KZ trend KCD 2 S 200m N 200mVD 1 End of 2018- Exploration phase Assay (g/t) Thickness (m) 0.5 - 1 <2 Shallower & 200m wid
Slide 42: KZ South Opportunities
KZ South Opportunitiesi… Poorly tested structure for +15km, with multiple growth opportunities truckable to the Kibali Plant Location KCD map KZ South- the southern extension of the KZ Trend, with +15km strike length of gold fertile structure Aindi Lower exploration maturity compared to KZ North, <2
Slide 43: Technical Information Endnotes
Technical Information The scientific and technical information contained in this presentation has been reviewed and approved by Richard Peattie, MPhil, FAusIMM, Mineral Resources Manager: Africa and Middle East; Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Resource Management and Evaluation Ex
Slide 44: Appendix A – Kibali Historical Total Mineral Reserves
Appendix A – Kibali Historical Total Mineral Reservesi,ii Proven Probable Total Based on 100% Basis Tonnes Grade Contained ozs Tonnes Grade Contained ozs Tonnes Grade Contained ozs Year Gold Price Assumption Project (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) 2009 $700/oz Kibali - - - 42 4
Slide 45: Appendix B – Kibali Historical Production
Appendix B – Kibali Historical Productioni Based on a 100% Basis Head Grade Gold Produced Recovery Year Tonnes Milled (kt) (g/t) (oz) (%) 2013 808 3.87 88,199 91.5 2014 5,546 3.81 526,627 79.0 2015 6,833 3.55 642,720 83.8 2016 7,299 3.10 586,530 79.8 2017 7,621 2.87 596,226 83.6 2018 8,218 3.45 807,
Slide 46: Appendix C – Outlook
Appendix C – Outlook Key Outlook Assumptions 2023 2024 2025+ Gold Price ($/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 1.30 CLP Ex
Slide 47: Appendix D – KCD UG Significant Intercept Table
Appendix D – KCD UG Significant Intercept Tablei Select Kibali Drill Interceptsi Core Drill i. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; Target Azimuth Dip Interval (m) Widthii (m) Au (g/t) Interval (m) Widthiii (m) Au (g/t) Holeii minimum intercept width is 2 m; internal
Slide 48: Appendix E - ARK Significant Intercept Table
Appendix E - ARK Significant Intercept Tablei Select Kibali Drill Interceptsi i. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; Core Drill minimum intercept width is 2 m; internal dilution is equal to or less Target Azimuth Dip Interval (m) Widthii (m) Au (g/t) Interval (m) Wi
Slide 49: Appendix F – KZ North & South Significant Intercept Table
Appendix F – KZ North & South Significant Intercept Tablei Select Kibali Drill Interceptsi Core Drill Target Azimuth Dip Interval (m) Widthii (m) Au (g/t) Interval (m) Widthiii (m) Au (g/t) i. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; Holeii minimum intercept width is 2 m
Slide 50: Appendix G – KCD NW Significant Intercept Table
Appendix G – KCD NW Significant Intercept Tablei Select Kibali Drill Interceptsi i. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; Core Drill minimum intercept width is 2 m; internal dilution is equal to or less Target Azimuth Dip Interval (m) Widthii (m) Au (g/t) Interval (m)
Slide 51: Appendix H – Loulo-Gounkoto Historical Total Mineral Reserves
Appendix H – Loulo-Gounkoto Historical Total Mineral Reservesi iFor 2019 onwards, estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Complete mineral reserve and mineral resource data for all mines and projects referenced in this presen