Slide 1: Kibali…developing a new economic frontier in the DRC
Operated by Kibali…developing a new economic frontier in the DRC
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: Our Global Barrick…a world-class global mining company
Our Global Barrick…a world-class global mining company Presence Donlin Geographical (50%) CANADA distribution of 2023 Loulo- gold production Phoenix (61.5%) USA Hemlo Gounkoto 80% 100% Fourmile 100% PAKISTAN Pueblo Viejo JAPAN NGM (61.5%) Reko Diq 50% 60% EGYPT Turquoise Ridge DOMINICAN SAUDI ARABIA
Slide 4: Barrick - A long-term business sustainable through the cycles
Barrick - A long-term business sustainable through the cycles Best Asset Base A3 Largest portfolio of Tier One and world-class gold and copper assets that is unmatched in the industry Moody’s Credit Rating – highest in the gold mining industry Growing Copper Exposure # 1 Well positioned to capitaliz
Slide 5: Key milestones…
Key milestones… OPENED UP ECONOMY IN DRC CREATING SUSTAINABLE BUSINESSES – EDUCATION AND SKILLS TRAINING 2006 2009 2010 2010 2010 2010 2011 2010 to date On-site due Randgold and SOKIMO offered to Kibali doubles Public Resettled 4,200 Construction Social upliftment - diligence AngloGold sell their 30
Slide 6: Partnership is key to… modern, future-facing mining
In-Country investment US$ million Partnership is key to… Infrastructure and modern, future-facing mining community support $208.67 million Payments to Salaries Kibali reaches 10 years of production and has grown into contractors $659 million Africa’s largest and most automated gold mine – and suppli
Slide 7: Delivered on our 2023 business plan…
Delivered on our 2023 business plan… Gold production in 2023 of 763kozi – above midpoint of guidance with record annual throughput Successful transition to Multilite in underground operation - supporting world class safety and automation practices Optimisation of design for 16 MW solar plant - layou
Slide 8: Health and safety…
Health and safety… Safety LTIFR2 One Restricted Duty Injury (RDI) recorded, investigations conducted and preventive 7 measures now in place 6 Zero fatalities recorded in 2023 but regrettably one fatality recorded on 31 Jan 2024 5 Update graph One Restricted Duty Injury (RDI) recorded, investigations
Slide 9: Journey to Zero…
Journey to Zero… Responsibility to Stop Unsafe Work continues to be reinforced across all levels of our operations Global roll-out of Life Saving Commitments planned for the first half of Q2 2024 Global launch of the Fatal Risk Management Program, supported by an extensive communication campaign tha
Slide 10: Gold Production…
Gold Production… Processingi Tonnes Tonnes per per Quarter Quarter (Mt) (Mt) Processing Processingi Recovery Recovery %% 2.5 100 Record annual throughput of 8.222Mt in 2023 with a 2% improvement recoveries from 2022 to 2023 2.0 80 Cyanide Recovery Plant (CRP) construction 1.5 60 complete, commission
Slide 11: 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 $/kWh MW/h US$/kWh Kibali Power Generation 40 0.30 35 0.25 30 0.20 25 20 0.15 15 0.10 10 0.05 5 0 - Hydro Diesel Cost
Slide 12: 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 13: Exploration…UG expansion opportunities for the future of Kibali
Exploration…UG expansion opportunities for the future of Kibali KZ trend Ikamva KCD NW: Drilling continues to support potential for high impact targets N Kalimva Legend NW of KCD that will expand both the current KCD OC with another BIF & Clastic sediments pushback and the KCD current UG with the ad
Slide 14: KCD Resource Growth… opportunity for further resources down plunge
KCD Resource Growth… opportunity for further resources down plunge 3D View SESSENGE PIT KCD PIT Drilling program ongoing to test DDD602 KCDU6417 DDD604AW1 and convert potential of KCD lodes down plunge past 3000 lode 9000 lode DDD602 toward DDD604AW1, 16.80m @ 6.47g/t 500m further down plunge 14.92m
Slide 15: KZ North… Potential for blind high-grade shoots
Ikamva N KZ North… Potential for blind high-grade shoots Kalimva Clastic seds Remaining results received testing potential at depth for satellite UG opportunity at Oere Volcani Key results include 22.4m @ 5.43g/ti (incl 10.0m @ 7.33 g/t) ORDD0114; 20m @ 2.44g/ti (incl 7.3m @ 3.66g/t) clastics ORDD01
Slide 16: World class business built with our…
World class business built with our… Local partners Engaged Congolese partners since inception with the Azambi hydropower station construction Supply of safety workwear by Congo Services and local women manufacturing facility set up in Durba Continue to grow businesses with long-term contractors – I
Slide 17: Value Driven Businesses…local partners
Value Driven Businesses…local partners COMMISEMI: drilling services KJME Uele Motors MUNGU LENI SERVICES PEARL Mamans Malewa
Slide 18: Environment…
Environment… Fresh water abstracted per tonne of ore treated ISO 14001 certification standards maintained, refresher training held for management team and for internal lead auditors of the mine 1.2 Cyanide recovery plant commissioned aimed to achieve the cyanide 1.0 reduction target (<50 ppm in CTSF
Slide 19: Community profiling…
Community profiling… 2006 2010: Estimated at less than 50 000 people (mainly artisanal miners, traders, etc.) 2013: Resettlement Action Plan (KOKIZA): > 4200 households (>20 000 people) 2017: More than 500 000 people live in Watsa 2008 2010
Slide 20: What we found…and what we’ve established
What we found…and what we’ve established Doko – Aru road BEFORE AFTER
Slide 21: What we found…and what we’ve established
What we found…and what we’ve established Infrastructure BEFORE AFTER
Slide 22: Community development… Cahier des Charges
Community development… Cahier des Charges TOTAL 5 YEAR COMMITMENT Approx. $8,761,478 Education Food Health Water Bridges_LED Roads_LED $1,320,893 2023 SPEND Public Market_LED Nzopi market before Nzopi market today Major projects Ture bridge linking 11 different villages Nzopi and Moku modern markets
Slide 23: Community development… 0.3% endowment fund
Community development… 0.3% endowment fund TOTAL 5 YEAR COMMITMENT Approx. $33,877,059 Education Bursary Food Health Water $7,413,876 2023 SPEND Lanza Primary School Newly constructed LED Faradje Multipurpose hall Major projects 2MW solar power project in Durba 1MW solar power in Makoro Ongoing cons
Slide 24: Sustainability snapshot… 14 years of value creation
Sustainability snapshot… 14 years of value creation 30 schools 2 tertiary institutions 3 libraries Local Partnerships > 100 bursaries State exam fees paid for over 10,000 students Several capacity building programmes (Entrepreneurship through challenge funds program with USAID, Agriculture/Financial
Slide 25: Investment in human capital…
Investment in human capital… Internships, bursary program and local employment 2023 – 126 internships (88 males and 38 female) Q1 2024 intake - 34 trainees (24 males and 10 females) 22 bursary students in 2023 into the internship program (16 males and 6 females), for Q1 2024, 17 bursaries have been
Slide 26: A foundation for tourism and a diversified economy…
A foundation for tourism and a diversified economy… The reintroduction of rhinos to Garamba National Park 1960: the white rhino population in Garamba park was 1,300 1963 and 1966: 1,000 horns were transported from Faradje to Mombasa 2006: The last rhino sighting in the Garamba Park 2009: LRA affecte
Slide 27: Illegal mining…Destroying the benefits of DRC’s natural resources and watercourses
Illegal mining…Destroying the benefits of DRC’s natural resources and watercourses
Slide 28: Investing for the future…
Investing for the future… 2024 and beyond Continued focus on extending Kibali’s Life of Mine with exploration and resource conversion programs Continue to explore additional reserves to replace depletion from mining and extend the mine’s life Extend exploration in the DRC to additional areas Leverag
Slide 29: Endnotes
Endnotes 1. A Tier One Gold Asset is an asset with a $1,300/oz reserve with potential for 5 million ounces to support a minimum 10-year life, annual production of at least 500,000 ounces of gold, and with all-in sustaining costs per ounce life-of-mine that are in the lower half of the industry cost
Slide 30: Appendix A – Kibali Significant Intercepts
Appendix A – Kibali Significant Interceptsi Kibali Drill Results from Q4 2023 Including4 Target Width Widt Core Drill Hole Azimuth Dip Interval (m) Au (g/t) Interval (m) Au (g/t) 1. All intercepts calculated using a 0.5 g/t Au cutoff and are (m3) h (m) uncapped; minimum intercept width is 2 m; inter