Barrick Mining Corporation · TSX:ABX

Barrick Mining — Investor Day (February 2016)

188 slides from Barrick Mining's investor day presentation, Feb 22, 2016

1. Slide 1: Barrick Investor Day 2016

   a BARRICK INVESTOR DAY 2016

2. Slide 2: Partnership. Performance. Value.

   InvestorDay2016 Partnership. Performance. Value. February 22nd, 2016 | New York Stock Exchange 1:2

3. Slide 3: Agenda and presenters

   ‰‡†ƒ John Thornton Vision and Strategy StrategyOverview Kelvin Dushnisky Performance and Outlook andCorporate 11:30 - 13:20 Shaun Usmar Financial Strength and Flexibility Summary Richard Williams New Operating System Rob Krcmarov Our Exploration Opportunity 13:20 - 13:40 Break Michelle Ash Our Tech

4. Slide 4: 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

5. Slide 5: John Thornton, Chairman

   ‹•‹‘ƒ†–”ƒ–‡‰› JohnThornton Chairman 1:5

6. Slide 6: The Best Assets Managed to Deliver the Best Returns

   ‹•‹‘ƒ†–”ƒ–‡‰› The Best Assets Managed to Deliver the Best Returns 1:6

7. Slide 7: Kelvin Dushnisky, President

   ‡”ˆ‘”ƒ ‡ƒ†—–Ž‘‘ KelvinDushnisky President 1:7

8. Slide 8: Streamlined the Business

   š‡ —–‡†‘ʹͲͳͷ”‹‘”‹–‹‡• $ Streamlined Strengthened Maximized Focused on the the Balance Free Cash Best Assets Business Sheet Flow and Regions Implemented Total debt Three Sold non-core decentralized, reduced by consecutive assets; focused partnership- $3.1 B or 24%1 quarters of portfolio around centr

9. Slide 9: Seven Non-core Asset Sales in 2015

   ‘ —•‡†–Š‡‘”–ˆ‘Ž‹‘ Seven Non-core Asset Sales in 2015 Golden NEVADA Sunlight Hemlo ƒ $3.2 B in proceeds Turquoise Ridge Goldstrike Cortez ƒ Divestments reduced average AISC across Pueblo Viejo the portfolio ~70% ƒ Reserves and of 2016 production Lagunas Norte production from core mines ANDES at AISC

10. Slide 10: 2016 Priorities

    ʹͲͳ͸”‹‘”‹–‹‡• Free Generate free cash flow at a gold price of $ Cash Flow $1,000 per ounce Balance Reduce total debt by a further $2 billion Sheet Operational Implement Best in Class initiative across Excellence all operations $ Capital Allocate and sequence capital using long term Discipline gold p

11. Slide 11: Production and AISC Outlook

    Š”‡‡‡ƒ””‘†— –‹‘ƒ† —‹†ƒ ‡ͳ Production (Moz) AISC ($/oz) $864 $831 $775-$825 $740-$790 $725-$775 6.25 6.12 5.0-5.5 5.0-5.5 4.6-5.1 2014 2015 2016E 2017E 2018E 1. See final slides #1, #8, and #9. 1:11

12. Slide 12: Capital Expenditure Guidance

    Š”‡‡‡ƒ”ƒ’‡š —‹†ƒ ‡ͳ ($B) 2.18 0 Projects Expansion 1.60-1.85 1.51 1.50-1.75 1.35-1.65 Sustaining & Development 2014 2015 2016 2017 2018 1. See final slide #8, #9 and #11. Capex guidance includes expenditures on gold and copper operations. 1:12

13. Slide 13: Copper Production

    ʹͲͳ͸‘’’‡””‘†— –‹‘ƒ†‘•– —‹†ƒ ‡ Copper Production1 (M lbs) Copper AISC1,2 & C1 Cash Costs1,2 ($/oz) 539 $2.74 $2.79 511 436 $2.33 $2.05- 2.35 370-410 2.00 1.92 1.73 1.45- 1.75 2013 2014 2015 2016E 2013 2014 2015 2016E 1. See final slide #8 2. See final slide #1. 1:13

14. Slide 14: Goals for Long Term Success

    Goals for Long Term Success ashok Sustainable, profitable production base + Lower AISC to under $700 per ounce + Reduce total debt to less than $5 B + Increase the optionality within our portfolio = Lean, sustainable business focused on free cash flow and margin growth

15. Slide 15: Shaun Usmar, Senior EVP & CFO

    ‹ƒ ‹ƒŽ‡‡™ƒŽƒ† Ž‡š‹„‹Ž‹–› ShaunUsmar SeniorExecutiveVicePresident&CFO 1:15

16. Slide 16: Higher gold prices led to cash cost escalation and margin compression

    ‡•–‘”‹‰ƒ”‰‹š’ƒ•‹‘ ƒ Higher gold prices led to lower cutoff grades, cash cost escalation and margin compression for industry during previous cycle 8.0 7.0 6.0 5.0 4.0 3.0 2.0 Opportunity: cash cost improvement lagged in declining price environment 1.0 0 Indexed to December 31 Sept. 30 2003 2015 S

17. Slide 17: Sustaining capital intensity reset

    ‘„—•–ƒ’‹–ƒŽ’’”‘˜ƒŽ”‘ ‡•• Lens: 15% Return on Invested Capital Hurdle Rate, Risk Management, Scenario Planning OPERATIONS CAPITAL ALLOCATION: >$10 M <$250 M >$250 M EXPLORATION Commercial Board of Review Investment Executive Capital Directors Requests + Committee Review and Review and Technical and R

18. Slide 18: Declining gold price spurred industry-wide short-term actions

    ‘™•‹†‡”‘–‡ –‹‘Ϊ’•‹†‡’–‹‘ƒŽ‹–› ƒ Declining gold price spurred industry-wide short-term actions; value creation is linked to long term success Enhanced Risk Management + Change Management Prioritization IMMEDIATE ACTIONS SHORT TERM OUTCOMES LONG TERM SUCCESS ƒ Reduce/defer capex ƒ Identified scope

19. Slide 19: Mine plans designed to generate a minimum cash margin

    —•‹‡••Žƒ• ‘ —•‡†‘ƒ”‰‹ ’”‘˜‡‡– ƒ Mine plans designed to generate a minimum Enhancing Cash Margins ($1,000 gold less AISC on comparable portfolio)1 cash margin Production (Moz) ƒ Avoiding marginal ounces eliminates certain 5.35 5.27 5.0-5.5 sustaining capex – removes the ‘bow wave’ 18%- ƒ Dynam

20. Slide 20: Achieved $3.1B of debt reduction in 2015

    — ‡••ˆ—Ž‹ƒ„‹Ž‹–›ƒƒ‰‡‡– ƒ Achieved $3.1 B of debt Total Debt ($ B) reduction in 2015 ƒ 2016 debt reduction target of 13.1 ƒ Total debt reduced by 24%1 at least $2 B ƒ Net debt reduced by 28%1 3.1 – new $750M debt tender offer Repaid 10.0 0.75 Debt ƒ Aspiration to reduce total debt in 2015 tender T

21. Slide 21: Focused on shorter term maturities to improve liquidity

    ’”‘˜‡†‹“—‹†‹–› ƒ Focused on shorter term maturities to improve liquidity 5,050 ƒ <$250 M of debt due before 2018; >50% of outstanding debt matures beyond 2032 2015 Debt Reductions Current Debt Schedule1 1,394 (US$ millions) 766 709 558 467 372 127 86 93 2015 2016 2017 2018 2019 2020 2021 2022 2023

22. Slide 22: Strengthen balance sheet and improve liquidity

    ”‡‡ƒ•Š Ž‘™ ”‘ –‡‰”ƒ–‡† —ŽŽ› Ž‡Žƒ‹‰ ƒ Strengthen balance sheet and Improvements Results improve liquidity Portfolio Capital Improved Optimization Discipline Balance Sheet ƒ Focus on margin per ounce to CAPEX DEBT drive mine and business plans RAISED 31% $3.1B ƒ Facilitate capital discipline $3.2

23. Slide 23: Richard Williams, Chief Operating Officer

    ‡™’‡”ƒ–‹‰›•–‡ RichardWilliams ChiefOperatingOfficer 1:24

24. Slide 24: Maintain a long term profitable production base

    ‹‰Š—ƒŽ‹–›‘”–ˆ‘Ž‹‘™‹–Š’–‹‘ƒŽ‹–› ƒ Maintain a long term profitable 1.88 Average reserve grade of core mines more than double peer average 2 production base ABX CORE ƒ Average 16 year mine life for MINES past 20+ years 1.32 ƒ Strong potential to add high ABX quality production through Minex TOTAL 1.06

25. Slide 25: Everyone Going Home Safe and Healthy Every Day

    Everyone Going Home Safe and Healthy Every Day Health & Safety Performance Reducing Environmental Risk  Embedded safety culture drove 84% TRIFR improvement  Tailings dam and water management issues  Highest risk is with heavy mobile mining equipment – collision avoidance technology trial  Apply

26. Slide 26: Project pipeline: greenfield, brownfield and Minex

    ”‘Œ‡ –‹’‡Ž‹‡Ȃ –”‘‰”‰ƒ‹ ”‘™–Š’–‹‘• SCOPING + FEASIBILITY/ DEVELOPMENT/ PRE-FEASIBILITY EARLY STAGE PERMITTING PRE-PRODUCTION Donlin Gold GREENFIELD GREENFIELD Alturas Cerro Casale Jabal Sayid (in commissioning) Pascua-Lama BROWNFIELD BROWNFIELD Fourmile1 Goldrush South Arturo Cortez Cortez Lower

27. Slide 27: Barrick's 2015 AISC below the 40th percentile of peers

    ‘’‡–‹–‹˜‡‘•‹–‹‘‘ Ž‘„ƒŽ‘•–—”˜‡ ƒ Barrick’s 2015 AISC was $/oz Industry All-in Sustaining Costs 1,800 below the 40th percentile 1,600 and peers1 1,400 ƒ Core mine 2015 AISC was 1,200 2015 spot gold price average: $1,160/oz below the 15th percentile 1,000 ƒ 2016 AISC reduction driven 800 by lower ca

28. Slide 28: Safe, Sustainable, Profitable Production

    –”ƒ–‡‰‹ ‹ŽŽƒ”•‘ˆƒŽ—‡”‡ƒ–‹‘ Safe, Sustainable, Profitable Production Mineral Resource Best in Class Management Productivity to exploit the to exploit the Mineral Endowment Technical Expertise Opportunity Opportunity SYSTEMS ASSETS TALENT 1:29

29. Slide 29: Rob Krcmarov, SVP Global Exploration

    —”š’Ž‘”ƒ–‹‘’’‘”–—‹–› RobKrcmarov SeniorVicePresident,GlobalExploration 1:30

30. Slide 30: Industry Endowment Discovered and Exploration Spending

    ƒ””‹  — ‡••—”‹‰‡ Ž‹‹‰‹• ‘˜‡”‹‡• Industry Endowment Discovered Industry Exploration Spending (Moz) >1Moz deposits 3 year rolling average (for Gold, US$B) 160 160,000,000 10 10,000 140,000,000 140 88,000 Barrick discovers 120 120,000,000 Lagunas Norte 66,000 2001 100 100,000,000 44,000 Barrick dis

31. Slide 31: Gold Reserve/Resource Added

    ‹•–‘”›‘ˆ‘•–Ǧƒ “—‹•‹–‹‘ ”‘™–Š Gold Reserve/Resource Added (M oz)1 Goldstrike Cortez Pascua-Lama Donlin Gold Turquoise Ridge Pueblo Viejo Veladero Lagunas Norte Goldrush Acquired Added Alturas 0 5 10 15 20 25 30 1. See final slide #5. 1:32

32. Slide 32: Spent $3.5B on exploration

    ‹•–‘”›‘ˆ ‘Ž†‡•‡”˜‡ ”‘™–Šͳ P&P Reserves (Moz of gold) 142 ~92 ƒ Spent $3.5B on exploration TOTAL ƒ Overall finding cost ~$25/oz FOUND THROUGH EXP’N 20 1990 2015 110 31 TOTAL ACQUIRED DIVESTED 149 TOTAL MINED 1. See final slide #5. 1:33

33. Slide 33: 2016 Minex $40M

    ‹‡š Ȃ Ž‡ƒ•Š‹‰‡•‘—” ‡‘–‡–‹ƒŽ 2016 Minex $40 M1,2 (%) IRR Minex Return Values 120% Free cash flow margins Other $250/oz $150/oz $50/oz 12% Cortez 100% 22% Other 80% Core Mines Hemlo 60% 29% 20% Porgera 40% 17% 20% $40 M 2016 Total Spend 0% ÷ 3.1 Moz Targeted Ounces2 2020 2025 2030 =$12.90/oz Targe

34. Slide 34: Goldstrike Minex cross section

    ‡Ž‘ͳ David Bell Shaft A A’ Beth Adit Minex 2.7m@4.7g/t 1.6m@15.5g/t Reserve & 1.5m@10.7g/t Past Production 2.7m@12.7g/t Sceptre Minex 7.0m@6.1g/t Resources 1.7m@28.9g/t 2m@5.9g/t 6.8m@5.5g/t 2.3m@8.7g/t 1.0 km Upside Significant intercept (>3m @ 3.0g/t Au) 8m@9.34g/t Significant intercept (2015 hol

35. Slide 35: Selected exploration targets

    ‘”‰‡”ƒ’•‹†‡Ȃ ʹͲͳ͸ƒ”‰‡–• N Stage 5C + Peruk 500m Selectedtargets Roamane Zone North and Central Zone AHD Zone Open Open 1:36

36. Slide 36: Alturas - overview

    Ž–—”ƒ•Ȃ ˜‡”˜‹‡™ Chile Argentina ƒ Infrastructure synergies within Pascua-Lama 20 kms of road, water, power Veladero infrastructure and camp Barrick Claims ƒ Favorable oxide orebody characteristics at significant grade ƒ Scoping study planned for 2016 El Indio Tambo ƒ Initial inferred gold resource o

37. Slide 37: 5.5Moz Inferred at 1.25g/t

    Ž–—”ƒ•Ȃ ‹–‹ƒŽ‡•‘—” ‡‘— ‡†ͳ NORTH SOUTH 5.5Moz Inferred at 1.25g/t 135m @ 1.69 g/t 56m @ 0.93 g/t ARGENTINA CHILE Grade x Thickness (gpt-m Au) <25 24m @ 2.45 g/t (27m) 25 – 50 89m @ 1.52 g/t 50 – 100 > 100 1 km 1. See final slide #5 and Appendix B for additional details including assay results fo

38. Slide 38: Define Starter Project

    Ž–—”ƒ•Ȃ ƒŽ—‡††”‹ŽŽ”‹˜‡”• Chile Argentina Define Starter Project Grade x Thickness1 (g/t-m Au) ƒ Establish resources through southern <25 25 – 50 and western extension, and infill 50 – 100 high grade > 100 Planned holes ƒ Improve project economics by Favorable alteration establishing strip ratio and

39. Slide 39: Mill Canyon Stock

    ‘—”‹Ž‡Ȃ ”‘‹•‹‰‡™ƒ”‰‡–‡ƒ” ‘Ž†”—•Š Mill Canyon Stock ƒ Early stage exploration project ƒ Located north of Goldrush ƒ Mature infrastructure in Nevada Pipeline ~5 km CortezHills Goldrush 10 kilometers Meters 1,000 1:40

40. Slide 40: Mill Canyon Stock

    ‘—”‹Ž‡ Ȃ ”‘‰”‡••‹‰Š”‘—‰Š”‹ŽŽ‹‰ Mill Canyon Stock Pre-mineral Intrusive Rock ƒ High grade, high value targets with small footprint Bleached and thermally altered host rock ƒ Two intervals more than double 5.2m @ 14.4 g/t Goldrush resource grade1 5.8m @ 10.9 g/t 14.3m @ 31.7 g/t – 14.3m @ 31.7 g/t

41. Slide 41: Grade and endowment increasing

    ”‘Œ‡ –‘”–ˆ‘Ž‹‘’–‹‘ƒŽ‹–› Cortez Barrick Deep South Projects Peer Cortez Lower Zone Projects Goldrush Grade Increasing Alturas Donlin Pascua Gold -Lama Cerro Casale Endowment Increasing 1 Peers include Newmont and Goldcorp. Source: Company Reports (2014,2015), Pascua-Lama, Casale and Donlin stated at

42. Slide 42: Michelle Ash, SVP Business Improvement

    —”‡ Š‹ ƒŽ’’‘”–—‹–› MichelleAsh SeniorViceǦ President BusinessImprovement 2:1

43. Slide 43: Opportunities for immediate improvement

    ‡•–‹Žƒ••Ȃ ‘•–ƒ–ǡ‡Ž‡–Ž‡••ǡ‘ —””‡–”‘ ‡•• Productivity Drive Innovation Step Change In Approach To Productivity Immediate Productivity Improvements Implement Innovation Leverage Best in Class Across Mine Operations to Identify and Drive Achieve Fixed Target Improvements ƒ Innovation in mine Acros

44. Slide 44: Transparent, Timely, Accurate Performance Data

    Šƒ–‹ŽŽ‡•–‹Žƒ••‡Ž‹˜‡” Transparent, Timely, Accurate • Financial and operating data captured Performance Data • Identify and address performance gaps • Site-level targets Data-driven Performance Targets • Determine performance against the limits of the resources Management Operating • Integrates plan

45. Slide 45: Capital, Labor and Consumable Efficiency

    ‡•–‹Žƒ••Ȃ ʹͲͳ͸ƒ†ʹͲͳ͹ ‘ —• Key Focus for 2016/17 Relevant Metrics Sweating the assets so that they are available, utilized, and • % Operational Equipment Capital Efficiency working at the highest rate possible to produce a quality Efficiency for bottleneck outcome the first time Ensuring that our p

46. Slide 46: 2016E Cash Costs $550-$590/oz

    ‡•–‹Žƒ••Ȃ ‘ —•‡†‘ƒŒ‘”‘•–‘–”‹„—–‘”• LABOUR 2016E Cash Costs MAINTENANCE $550-$590/oz1 ƒ Improved maintenance planning ƒ Increase wrench time and reduce breakdowns ƒ Increase underground ƒ Part life extension face time ƒ Redesign and simplify processes 18% ƒ Integrate maintenance into supply to inc

47. Slide 47: Assessment of maintenance wrench time

    ‡•–‹Žƒ••Ȃ ”‡ Š‹‡’–‹‹œƒ–‹‘ Assessment of maintenance wrench time identifies specific areas of wasted time across shift duration… 2:6

48. Slide 48: Simple but practical solutions

    ‡•–‹Žƒ••Ȃ ”‡ Š‹‡’–‹‹œƒ–‹‘ …which are often addressed with simple but practical solutions Store room after… Store room before… Kits are prepared every day for Each technician the next day in had to go to the standardized, storeroom and correctly labeled find his kit in buckets and this room deli

49. Slide 49: Step change opportunities across the mine cycle

    ‘˜ƒ–‹‘ ”‘••–Š‡‹‡› Ž‡ 1. Hot curing + lime boiling = increased silver recoveries at lower cost in PV 2. AMBS Flotation Æ copper recoveries in constrained environments such as JS 3. Thiosulfate increases recoveries and eliminates cyanide use Mining Development Processing Design Transformational Pr

50. Slide 50: Andy Cole, Executive Director, U.S.A.

    ‘Ž†•–”‹‡Ȃ ‘˜ƒ–‹‘‹ –‹‘ AndyCole ExecutiveDirector,U.S.A. 2:9

51. Slide 51: Barrick's center of excellence in mining and processing

    ‘Ž†•–”‹‡ Ȃ ‘†ƒ› ƒ Barrick’s center of excellence in mining and processing ƒ Leader in innovation, safety and efficiency ƒ Highlights of 2015: – Started stripping Arturo open pit in Q2, accelerated mining bringing forward higher grade – Commissioned innovative leaching process TCM – Lowered water ta

52. Slide 52: Best in Class success in 2015

    ‘Ž†•–”‹‡ Ȃ ‘–‹—‡†•— ‡••™‹–Š‡•–‹Žƒ•• ƒ Best in Class success in 2015: – Increased utilization of long-hole and mass blast, driving mining costs below $100/ tonne – Increased roaster recovery 2% through improved temperature control and carbon management – Reduced haul fleet capex through excellent

53. Slide 53: Evolving ore types dictate changing processes

    ‘Ž†•–”‹‡Ȃ Š‡”‘ ‡••‹‰ŠƒŽŽ‡‰‡ ƒ Evolving ore types dictate Annual Gold Production (by process) changing processes – Oxide heap leach and milling – Autoclaving for single refractory – Roasting for double refractory – TCM circuit for lower grade double refractory ore ƒ TCM developed to treat double S

54. Slide 54: TCM development timeline

    ‘Ž†•–”‹‡Ȃ ‘˜ƒ–‹‘‹ –‹‘ 1993-1997 Processing technology 2005 Need 2006-2008 Significant 2009-2010 for refractory ore sought: for longer research into TCM Final evaluation – TCM identified as viable option, term solution resin adsorption and final and capital but stability not proven for double r

55. Slide 55: ‘Ž†•–”‹‡Ȃ š‹•–‹‰”‘ ‡••‹” —‹– 2:14

    ‘Ž†•–”‹‡Ȃ š‹•–‹‰”‘ ‡••‹” —‹– 2:14

56. Slide 56: ‘Ž†•–”‹‡Ȃ ††‹–‹‘•–‘‹” —‹–™‹–Š 2:15

    ‘Ž†•–”‹‡Ȃ ††‹–‹‘•–‘‹” —‹–™‹–Š 2:15

57. Slide 57: Thiosulfate plant construction completed January 2015

    ‘Ž†•–”‹‡Ȃ ”‹‰‹‰‹–‘”‘†— –‹‘ ƒ Construction completed January 2015 at capital cost $610 million ThiosulphatePlant ƒ Commercial production July 2015 AUTOCLAVES ƒ Ramp-up throughput >80% by GoldElution end 2015 with recoveries at 62.5% – Water filtration and resin handling issues addressed ResinͲin

58. Slide 58: Throughput and recovery improvements

    ‘Ž†•–”‹‡Ȃ Š‹‡˜‹‰–”‡– Šƒ”‰‡–•ƒ– Technology Best in Class Refinement ƒ Water treatment ƒ Design defect modification elimination +14,000 ƒ Mill throughput ƒ Metallurgical tpd enhancements research work ƒ Integrated ƒ Reliability +80% approach to enhancements recovery maintenance and operations ƒ Stoc

59. Slide 59: Cyanide free processing provides optionality

    ‘Ž†•–”‹‡Ȃ ƒ”‡••‹‰‘‰‡”‡”ƒŽ—‡ˆ”‘ ƒ Cyanide free processing provides optionality to Barrick in jurisdictions where this is required ƒ Allows Barrick to competitively explore for and exploit complex orebodies ƒ Patented technology protects intellectual property and provides future revenue stream i

60. Slide 60: Rick Baker, Veladero

    ‡Žƒ†‡”‘Ȃ š–”ƒ –‹‰ƒŽ—‡Š”‘—‰Š–Š‡‹‡› Ž‡ RickBaker ExecutiveGeneralManager Veladero,Argentina 2:19

61. Slide 61: Mature operation with significant upside potential

    ‡Žƒ†‡”‘Ȃ ƒš‹‹œ‡ —ŽŽ‘–‡–‹ƒŽƒŽ—‡ ƒ Mature operation with significant upside potential ƒ Optimizing short term cash flow while pursuing long term full potential value ƒ Multiple, iterative business planning scenarios ƒ Shifting from production to profitability focus with Best in Class – Testing and s

62. Slide 62: Stretch technical limits on ore crushing and transport

    ‡Žƒ†‡”‘Ȃ –”‡– Š‹‰‡ Š‹ ƒŽ‹‹–• ƒ Opportunity to stretch technical limits on ore crushing and transport identified in 2015 Overland ƒ Q4 2015 successful quarter Conveyor and verified technical limit attainable ƒ 2016 assess tradeoff options and financials ƒ Mid 2017 potential to add value 2:21

63. Slide 63: High wall steepening to reduce costs

    ‡Žƒ†‡”‘Ȃ š’Ž‘‹–‹‰‡ Š‹ ƒŽ’’‘”–—‹–‹‡• ƒ High wall steepening to reduce costs and enhance value ƒ Assessing 4° increase in pit wall angle, with no safety implications ƒ Implementing feasibility studies now for 2017 mine plan ƒ The opportunity – potential to reduce waste tonnage by 10% and access add

64. Slide 64: Leach pad optimization

    ‡Žƒ†‡”‘Ȃ š’Ž‘‹–‹‰’‡”ƒ–‹‘ƒŽ’’‘”–—‹–‹‡• ƒ Leach pad optimization – three key opportunities – Targeted re-leaching to reduce leach pad gold inventory – Slide slope leaching to further unlock value – Pad construction cost optimization 2:23

65. Slide 65: Smart energy solution with solar power

    ‡Žƒ†‡”‘Ȃ •‹‰‡ Š‘Ž‘‰›–‘‘™‡”‘•–• ƒ Current operation – self generating with gensets and pilot photovoltaic plant ƒ Smart energy solution may add value with short payback – High density of solar radiation – Improving Argentine economy combined with long mine life, make solar power plant, provided by

66. Slide 66: Improving performance

    ‡Žƒ†‡”‘Ȃ ‹‰Š‡”ˆ‘”‹‰”‰ƒ‹œƒ–‹‘ ƒ Improving performance: – Best in Class components, data driven culture Blasting photo Hauling photo – Changing the hearts and minds from “what is” to “what can be” ƒ Translating to improved throughput, efficiency, FCF and full potential value – Blasting improvement

67. Slide 67: Ettiene Smuts, Pueblo Viejo

    —‡„Ž‘‹‡Œ‘Ȃ ‡ ‡–”ƒŽ‹œ‡†‘†‡Ž‹ –‹‘ EttieneSmuts GeneralManager PuebloViejo,DominicanRepublic 2:26

68. Slide 68: Vision to grow and mature the business

    —‡„Ž‘‹‡Œ‘Ȃ ‘†ƒ› ƒ Vision is to grow and mature our business, focusing on developing our people and systems whilst maintaining our returns to stakeholders in a responsible way ƒ Achievements in 2015 – Winners of Annual Safety Award – Certified under International Cyanide Management Code – Reduced Gov

69. Slide 69: Critical event in November 2015

    —‡„Ž‘‹‡Œ‘Ȃ ‡ ‡–”ƒŽ‹œ‡†‘†‡Ž‹ –‹‘ ƒ Critical event in November 2015: – Two of three motors in the oxygen plant suffered electrical damage, autoclave throughput at 35% capacity – Motors life expectancy of 10-15 years, PV motors in operation for three years – Root cause unknown at the time ƒ Crisis m

70. Slide 70: Centralized versus decentralized crisis response

    —‡„Ž‘‹‡Œ‘Ȃ ‡ ‡–”ƒŽ‹œ‡†‘†‡Ž‹ –‹‘ Centralized Decentralized ƒ Top down approach has ƒ GM at site controls crisis team and corporate office running all actions empowered and crisis team supported from all sides ƒ Information / Instruction ƒ Information flows directly between flows through regional s

71. Slide 71: Mitigate downtime with interim plan

    —‡„Ž‘‹‡Œ‘Ȃ ‘ —•”‡ƒ•ƒƒ‰‡†‹—Ž–ƒ‡‘—•Ž› Mitigate ƒ Move planned maintenance forward downtime ƒ Identify interim solution to increase production with interim plan ƒ Continue mining and build up stock piles ƒ Identify severity of damage and extent of repairs required Identify root cause ƒ Manage logist

72. Slide 72: Rapid return to 70% of capacity

    —‡„Ž‘‹‡Œ‘Ȃ ƒ’‹†‡•’‘•‡”‘–‡ –•ƒŽ—‡ 25,000 Capacity 20,000 Moved scheduled 15,000 maintenance forward 10,000 5,000 Portable compressor sets coming on-line 0 15-Nov-15 22-Nov-15 29-Nov-15 6-Dec-15 13-Dec-15 20-Dec-15 27-Dec-15 3-Jan-16 10-Jan-16 17-Jan-16 24-Jan-16 31-Jan-16 7-Feb-16 ƒ Rapid return to

73. Slide 73: —‡„Ž‘‹‡Œ‘Ȃ ƒ’‹†‡•’‘•‡‡†— ‡†‘™–‹‡ 2:32

    —‡„Ž‘‹‡Œ‘Ȃ ƒ’‹†‡•’‘•‡‡†— ‡†‘™–‹‡ 2:32

74. Slide 74: Quisqueya power station provides secure low cost energy

    —‡„Ž‘‹‡Œ‘Ȃ ‡”‰›’’‘”–—‹–‹‡•š’ƒ†‹‰ ƒ Quisqueya power station provides secure low cost energy supply – 210MW capacity of which mine requires 120-130 MW ƒ Balance of longǦterm security of power supply versus lowǦcost benefits under review ƒ Option to add significant value by leveraging existing asse

75. Slide 75: Three Independent Opportunities to Generate Value

    —‡„Ž‘‹‡Œ‘Ȃ ‡”‰›’’‘”–—‹–‹‡•š’ƒ†‹‰ Three Independent Opportunities to Generate Value 1. Run Quisqueya at 100%, sell excess power to grid – Production cost significantly lower than grid price 2. Convert plant from HFO to LNG to reduce exposure to oil prices – Capex estimated at below $100M 3. Buy a

76. Slide 76: Sam Ash, General Manager, Lumwana

    —™ƒƒȂ –‹˜‡‘•–ƒƒ‰‡‡– SamAsh GeneralManager,Lumwana 2:35

77. Slide 77: Turn around effort began in early 2013

    —™ƒƒȂ ‡–ƒ‹‹‰’–‹‘ƒŽ‹–›ˆ‘” ‹‰Š‡””‹ ‡• ƒ 2012 cash flow negative at $3.60/lb ƒ Turn around effort began in earnest KEY PRIORITIES Stay cash flow early 2013 after the completion of full positive property evaluation – 2013 to 2015 annual expenditure reduced from $947M to $665M Maintain future – 2013

78. Slide 78: Mine plan evaluation and cost reduction

    —™ƒƒȂ ‡––‹‰–Š‡ ‘—†ƒ–‹‘ $3.71 Cu PRICE ƒ Continuous mine plan evaluation and revision to focus on most profitable pounds – Rationalizing units of work to reduce total material mined – Prioritize value of produced copper over quantity ƒ Systems driven performance management $2.13 – Turning data i

79. Slide 79: Systems driven exploitation of opportunities

    —™ƒƒȂ ‘–‹—‹‰–Š‡ ‘—”‡› $3.71 ƒ Systems driven exploitation of opportunities Cu PRICE – Prioritize the largest, not easiest, opportunities – Focus management resources on fewer higher value opportunities ƒ Applied strategic sourcing principles to negotiate every contract – Reduce scope of contra

80. Slide 80: Mill outage in 2014 reduced efficiency

    —™ƒƒȂ ‹‘‡‡”‹‰‡•–‹Žƒ••™‹–Šƒ””‹  Mining Cost ($/t) Milling Cost ($/t) G&A Spend ($ M) Energy (Kwhrs/t) $4.15 $4.54 $104 16.1 16.0 $4.07 $4.07 15.6 Mill outage in 2014 reduced efficiency $86 $3.65 $72 $2.85 $2.79 $58 $3.65 13.8 2012 2013 2014 2015 2012 2013 2014 2015 2012 2013 2014 2015 2012 2013

81. Slide 81: Scale of cost saving opportunities and 2016 initiatives

    —™ƒƒȂ ‘–‹—‘—•‘•– ’”‘˜‡‡–• ƒ Scale of cost saving opportunities relatively smaller as work progresses ƒ Success to date strengthening the resolve of the team ƒ Working with Best in Class program to reach next level ƒ Further supported by expected reduction in royalty rates to 4%-6% 2016 Best i

82. Slide 82: Basie Maree, Chief Technical Officer

    Žƒ‹‰—” —–—”‡ BasieMaree ChiefTechnicalOfficer 3:1

83. Slide 83: Shareholder value through resource management

    ‹‡”ƒŽ‡•‘—” ‡ƒƒ‰‡‡– ƒ Shareholder value through: – BiC Productivity Improvements: Three year guidance to achieve $130/oz improvement – Sustainable Long Term Production: Maintain a production profile of 4.5M-5.0M ounces/annum for 10-15 years ƒ Manage Mineral Resource – Near Mine Exploration (Minex

84. Slide 84: Reserves reconciliation with gold price change

    ʹͲͳͷ ‘Ž†‡•‡”˜‡•ͳ (M oz) Gold Price Change to $1,000 ST, $1,200 LT 93.0 from $1,100 flat 3.7 91.9 Drilling 89.9 and Cost Reduction 3.1 5.1 88.2 Asset Sales 6.8 Processed in 2015 80.0 2014 YE 2014 YE 2015 2015 Year End Equity Pre-Price Year End Adjusted Change 1. See Endnotes slide #5. 3:3

85. Slide 85: Resources reconciliation with gold price change

    ʹͲͳͷ ‘Ž†Ƭ ‡•‘—” ‡•ͳ (M oz) Drilling 94.3 and Cost Reduction 85.3 8.5 85.0 9.0 79.1 Asset Sales 5.9 8.8 Change in To Gold Price Reserves to $1,300 from $1,400 40.0 2014 YE 2014 YE 2015 2015 Year End Equity Pre-Price Year End Adjusted Change 1. See Endnotes slide #5. 3:4

86. Slide 86: Sensitivity Results (M+I) - Indicative of Reserves

    ‹‡”ƒŽ†‘™‡–Ȃ ‡•‹–‹˜‹–›˜• —ŽŽ‡•‡”˜‡Žƒ Reserve Planning Turquoise Ridge $2,000 M+I Shape Update Resource Model Import Block Model Update costs, prices, geotechnical parameters, starting surfaces, constraints Whittle Pit Optimization or Stope Optimization Sensitivity Results (M+I) – Indicative of

87. Slide 87: M+I Sensitivity for Mines and Projects

    ”‘š›ˆ‘”‡•‡”˜‡•Ȃ ‘Ž†”‹ ‡‡•‹–‹˜‹–› M+I Sensitivity for Mines and Projects1 Contained ounces - Barrick share (M oz) 104.0 99.2 101.4 95.6 91.9 87.9 73.1 $900 $1,000 $1,100 $1,200 $1,300 $1,400 $1,500 1. See Appendix D, notes 1, 2, 3, 4 and 5 and appendix E 3:6

88. Slide 88: Contained Gold M oz sensitivity results

    ‹‡”ƒŽ†‘™‡–Ȃ ‘Ž†”‹ ‡‡•‹–‹˜‹–› M+I Sensitivity Results1 Incremental M+I Inferred Excludes KCGM 91 94 and Acacia 89 86 82 79 70 Contained Gold M oz 62 64 59 45 42 34 36 23 24 22 7 8 10 11 $900 $1,000 $1,100 $1,200 $1,300 $1,400 $1,500 See final slide #5. 1. See Appendix D and E for further details

89. Slide 89: Strong focus on social license

    —ŽŽ› Ž‡’’”‘ƒ Š–‘”‘Œ‡ –‡˜‡Ž‘’‡– ƒ Strong focus on social license ƒ Improved business planning model ƒ Starter project concept – Phased approach – Fund subsequent stages from cash flow ƒ Rigorous stage gate reviews – 15% ROIC ƒ Consider partnerships to diversify risk 3:8

90. Slide 90: Donlin Gold and Cerro Casale

    —–—”‡’–‹‘ƒŽ‹–› Donlin Gold (50%) Cerro Casale (75%) ƒ Draft EIS based on 2011 feasibility study ƒ EIS approved on 2013 published in November 2015 ƒ Reserve: 17.4 Moz at 0.60 g/tonne1 ƒ M+I Resource: 19.5 Moz at 2.24 g/tonne1 ƒ Assessing smaller scenario with potential to ƒ Assessing smaller scenari

91. Slide 91: Pascua-Lama Temporary Suspension

    ƒ• —ƒǦƒƒȂ ‘•–ƒƒ‰‡‡– Temporary Suspension ƒ Temporary suspension plan approved Project Costs ($M) and largely implemented in 2015 $519 ƒ Expected 2016 costs of $80-$100M1 primarily for water management and tunnel closure 64% ƒ 2016 focus is on developing an optimized completion plan with improved

92. Slide 92: Growth projects overview

    –”ƒ–‡‰‹ ”‰ƒ‹ ”‘™–Š’’‘”–—‹–‹‡• Lagunas Norte Turquoise Ridge Cortez Hills Goldrush Refractory Ore Mine Expansion Deep South Life Extension ƒ Improve ventilation ƒ Expansion of the ƒ Advanced exploration ƒ Refractory ore and mining efficiency Cortez Hill project with 8.6 Moz extension below to allow

93. Slide 93: Project capex and study timeline

    Žƒ‹‰ˆ‘”—•–ƒ‹ƒ„Ž‡”‘†— –‹‘ Current 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 Project Capex Status Cortez Starting $153M FS Deep South Feasibility Feasibility Turquoise complete, $300M- FS Vent P

94. Slide 94: Nigel Bain, Turquoise Ridge

    —”“—‘‹•‡‹†‰‡Ȃ ‡“—‡ ‡†ƒ’‡šǡŠƒ•‡† ”‘™–Š NigelBain GeneralManager TurquoiseRidge,Nevada 3:13

95. Slide 95: A joint venture with Newmont (75:25)

    —”“—‘‹•‡‹†‰‡Ȃ ‘†ƒ› ƒ A joint venture with Newmont (75:25) – Toll milling at Newmont’s neighboring Twin Creeks plant since 2003 ƒ Mining underground on joint venture acreage, large acreage outside of JV remains under explored ƒ Reserve1 of 5.6M oz at high grade of 15.3 g/tonne gold with future M&I Re

96. Slide 96: Production and margin growth from granular expansion

    —”“—‘‹•‡‹†‰‡Ȃ ‘†ƒ› ƒ Production and margin growth from granular expansion and optimization – Record production in 2015 – 2016 will mark nearly doubling production over last six years – High returns on capital employed ƒ Completed 100% mechanization of the mine ƒ Converted all topcuts to 4m x 4m – St

97. Slide 97: Continued improvements in 2016

    Ȃ –”‡– Š‹‰‡ Š‹ ƒŽ‹‹–•ˆ‘”‡ƒ”‡” ”‘™–Š ƒ Continued improvements in 2016: – Future rock excavation and mining methods as well as ground support to increase advance rates by 30% – Improved strategic planning for ore to waste ratio, improved haulage efficiency – Maintenance effectiveness ƒ Optimize ex

98. Slide 98: Feasibility study on third shaft construction

    Ȃ ‡†‹—‡” ”‘™–Š ˜‡•–‡– ƒ Feasibility study on third shaft construction – Total capex estimated at $300-$325 M1 – ~50% for ventilation only, already included in LOM plan ƒ Sustainably improve ventilation and material flow to ensure 1,825 tonnes per day – Scalability reduces operating costs per ou

99. Slide 99: Future production from down dip extension

    Ȃ Šƒˆ–’–‹ƒŽŽ›‘ ƒ–‡†ˆ‘” —–—”‡‡˜‡Ž‘’‡– 3,518’ #2 Shaft #1 Shaft New Shaft 7.3m diameter 6m diameter 7.3m diameter 553m/1815’ deep 540m/1770’ deep 830m/2730’ deep South Zone 1250 Backfill Plant North Zone North 525m/1715’ Skip Loading Station 2015 LOM Stope Shapes 2015 – 8.9 g/tonne Resource Grade S

100. Slide 100: Conversion of shaft from ventilation to production

     —”“—‘‹•‡‹†‰‡Ȃ ‹‰‹ˆ‹ ƒ–‘‰‡”‘–‡–‹ƒŽ ƒ Conversion of shaft from ventilation to production estimated capex ~50% of $300-$325M1 – Up to 3,300 tonnes per day production potential ƒ Increase annual production to average 500 koz per annum (100% basis) – AISC over LOM from end of construction between $6

101. Slide 101: Untested ground in Getchell and Lower Deep

     —”“—‘‹•‡‹†‰‡Ȃ Šƒˆ– ˆ”ƒ•–”— –—”‡˜•Ǥ”‡„‘†› (ounces millions) ƒ Untested ground in Getchell and 0 0.5 Existing 1.0 Proposed 1.5 Lower Deep mineralized domains 4600 #2 Shaft #3 Shaft South Zone North Zone 4400 ƒ 74% of reserve and 55% of upside 4200 is below the 3200 elevation 4000 3800 Elevation ƒ Ore

102. Slide 102: Matt Gili, Cortez District

     ‘”–‡œȂ ”‘™ˆ‹‡Ž†ƒ† ”‡‡ˆ‹‡Ž† ”‘™–Š MattGili ExecutiveGeneralManager CortezDistrict,Nevada 3:21

103. Slide 103: Vision for Cortez District

     ‘”–‡œȂ ‘†ƒ› ƒ Vision for Cortez District is to be an underground focused multi-mine operation increasing cash flow to shareholders through relentless pursuit of operational excellence and sustainable growth ƒ Cortez and Goldstrike teams work together on metal plan – Processing of Cortez refractory o

104. Slide 104: Best in Class initiatives underway

     ‘”–‡œȂ ‡•–‹Žƒ•• ‹–‹ƒ–‹˜‡• ƒ Best in Class initiatives underway: – Optimizing shift change sequencing – Revamping fleet maintenance practices – Improving underground capital efficiency – Installing advanced process controls, and strengthening geo-metallurgical modeling ƒ 2016 Best in Class initiati

105. Slide 105: Cortez District map

     ‘”–‡œȂ Š‡‹•–”‹ –Šƒ–‡‡’•‡Ž‹˜‡”‹‰ GoldAcres Pipeline Cortez Hills Open Pit Cortez Hills Underground Lower Zone CortezGold 3800 ft. Horse Canyon Open Open Fourmile Deep South CortezHills Cortez Goldrush Silver 10 kilometers 3:24

106. Slide 106: Deep South converts resource to reserve

     ‘”–‡œȂ ‡ƒŽ–Š‘ˆ‹‡”ƒŽ†‘™‡–ͳ ƒ Deep South study converts 1.7 Moz at ~11 g/tonne from resource to reserve, compared to average Cortez grade of 2.26 g/tonne ƒ Cortez Hills orebody open at depth with oxide, no constraining geologic features ƒ In situ grade at Cortez Hills Deep South of 15 g/tonne Unde

107. Slide 107: Cortez District development timeline

     ‘”–‡œȂ —Ž–‹’Ž‡”‡‘—” ‡•‡†— ‹‰‹• Fourmile Goldrush Cortez Hills Deep South Cortez Hills Underground Cortez Hill Open Pit Pipeline Open Pit 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 3:26

108. Slide 108: Deep South Scoping vs Prefeasibility Study

     ‘”–‡œȂ ‡‡’‘—–Š”‹‰‹‰— ‡• ‘”™ƒ”† Scoping Study Prefeasibility Study Limited understanding Confidence to increase scale of Knowledge restricted scale of operations operations from infill drilling Orebody 50% Oxide / 50% Sulfide 85% Oxide / 15% Sulfide Cut and fill 2,300 tonnes Longhole stoping 4,500

109. Slide 109: Water management is central to Deep South development

     ‘”–‡œȂ ‡‡’‘—–Š‡š––‡’• ƒ Water management is central to Deep South development – EIS focus is on ground water – Aquifer key water source to mining and ranching businesses ƒ Feasibility study to progress into 2016, commence permitting in 2016 ƒ Record of decision expected 2019/2020, where after develo

110. Slide 110: Goldrush location

     ‘Ž†”—•Š Ȃ Š‡ —–—”‡‘ˆ‘”–‡œ ƒ Six km from Cortez mine, ~140 km from Goldstrike ƒ Initial Red Hill discovery in 2009, first M+I resource in 2011 ƒ Refractory orebody to be processed at Goldstrike roaster ƒ Ore body remains open at depth, significant intercepts at Fourmile exploration project ~1 km to t

111. Slide 111: Fourmile geology sections

     ‘Ž†”—•Š Ȃ ‘–‡–‹ƒŽˆ‘”‹‹‰—Ž–‹’Ž‡”‡„‘†‹‡• Fourmile A A’ Vinini Mineralization Footprint1 >1.2 g/t >5.1 g/t Vinini RMT B’ Blue Hill Horse Canyon Blue Hill Rhyolite Cover C’ B Basalt Lower Wenban (4-1) Upper Wenban (8-5) 4.8 Kilometers 152m Horse C 152m Roberts Mountain Canyon B - B’ C - C’ Red Hill B

112. Slide 112: Goldrush Scoping Study vs Prefeasibility Study

     ‘Ž†”—•ŠȂ ”‡ˆ‡ƒ•‹„‹Ž‹–›Šƒ ‡•ƒŽ—‡ Scoping Study Prefeasibility Study ƒ Underground mining in Goldrush ƒ Changed scope to underground-only and open pit in Red Hill. High strip mine, eliminated stripping costs ratio ƒ De-risked and optimized project with ƒ Access through Mill Canyon access via West Po

113. Slide 113: Goldrush Feasibility Study phase 1 in 2016

     ‘Ž†”—•Š Ȃ ”‹–‹ ƒŽƒ–Šƒ†š‡ —–‹‘–”ƒ–‡‰› ƒ Moving forward with phase 1 of the Feasibility Study in 2016, which will focus on: – Underground surface infrastructure – Tighter-spaced drilling to convert near surface resources to reserves – Mine plan optimization to bring ounces forward ƒ Construction of

114. Slide 114: Jim Whittaker, Lagunas Norte

     ƒ‰—ƒ•‘”–‡Ȃ ‡”‹•‹‰ ”‘™–Š’’‘”–—‹–‹‡• JimWhittaker GeneralManager LagunasNorte,Peru 3:33

115. Slide 115: New management appointed in 2015

     ƒ‰—ƒ•‘”–‡Ȃ ‘†ƒ› ƒ New management appointed in 2015 – More timely engagement with corporate office – Increased transparency, accountability, and proactive approach – Ensure adequate resources secured as required to support operation ƒ 2015 a solid year in production and cost control to achieve compe

116. Slide 116: Short, medium and long term focus

     ƒ‰—ƒ•‘”–‡Ȃ Šƒ•‡† ”‘™–Š ’”‘˜‡•‡–—”• ƒ Short term: mature operation focused on maximizing operating margins through incremental changes to operating procedures ƒ Medium term: prefeasibility study on expansion into refractory ore treatment for LOM extension ƒ Long term: expanded processing capacity

117. Slide 117: Refractory ore processing allows sulfidic material

     ƒ‰—ƒ•‘”–‡Ȃ ‡ˆ”ƒ –‘”›”‡‹‡‹ˆ‡š–‡•‹‘ ƒ Allows processing of sulfidic material unsuited to heap leaching ƒ Capital requirement for new 6,000 tpd milling circuit and autoclave plant – Mining below existing pit Mill and Concentrator – Existing final recovery circuit remains suitable ƒ Extends mine lif

118. Slide 118: Production outlook 2.1 Moz

     ƒ‰—ƒ•‘”–‡Ȃ ”‘†— –‹‘’’‘”–—‹–› Gold Production (Koz, pa) De-risking Exploration Opportunity Opportunity 2.1 Moz Heap Leach Sec. Leaching Refractory Ore @$1,000 Au PMR Heap Leach 2015 2017 2019 2021 2023 2025 2027 2029 3:37

119. Slide 119: Site layout map

     ƒ‰—ƒ•‘”–‡Ȃ š’ƒ•‹‘‹–Š‹š‹•–‹‰ ‘‘–’”‹– Site 3 Water Treatment Open Pit Site 1 N Concentrator 4 km Site 2 Autoclave Leach Leach Pad Leach Pad 3:38

120. Slide 120: ƒ‰—ƒ•‘”–‡Ȃ ‡ˆ”ƒ –‘”›”‡”‘ ‡•• Ž‘™•Š‡‡– 3:39

     ƒ‰—ƒ•‘”–‡Ȃ ‡ˆ”ƒ –‘”›”‡”‘ ‡•• Ž‘™•Š‡‡– 3:39

121. Slide 121: Prefeasibility Results

     ƒ‰—ƒ•‘”–‡ Ȃ ’’Ž›‹‰š’‡”‹‡ ‡ ƒ‹‡† Prefeasibility Results Development Plan ƒ Initial capex of $640 M ƒ Similarity to PEA results provides with sustaining capex confidence of $24 M ƒ Phased development approach adopted ƒ 240 k ounces of gold ƒ Progressing two phase feasibility study per year for fiv

122. Slide 122: Preliminary results from 2015 drill program

     ƒ‰—ƒ•‘”–‡Ȃ ‡Ǧ”‹•‹‰Š”‘—‰Š”‹ŽŽ‹‰ Oxide pit Au g/t Sulfide pit < 0.5 < 1.1 Feeder Zones < 2.0 100 Meters < 5.0 < 10.0 < 25.0 < 100.0 ƒ Preliminary results from 2015 drill program show good interception including a long high grade feeder zone ƒ Opportunity to enlarge resource through infill drilling

123. Slide 123: Exploration budget of $4.6M for 2016

     ƒ‰—ƒ•‘”–‡Ȃ š‹†‡Ƭ—Žˆ‹†‡’’‘”–—‹–‹‡•„‘—† Alto Chicama ƒ Exploration budget District PiedraGrande of $4.6 M for 2016 ƒ Development of neighboring targets has LagunasNorte potential to add Genusa medium term pit production LaCapilla Quiruvilca LagunasSur Defined Resource Drill Targets Au & Alteration

124. Slide 124: Three key factors for success

     ƒ‰—ƒ•‘”–‡Ȃ ‘ —•‘ —–—”‡ Three key factors for success: 1. Strong proven and experienced management team 2. Known existing mine resources with regional upside 3. Minimized development risk due to brownfield site and phased approach 3:43

125. Slide 125: The Best Assets Managed to Deliver the Best Returns

     —” ˜‡•–‡–”‘’‘•‹–‹‘ The Best Assets Managed to Deliver the Best Returns 3:44

126. Slide 126: Appendices

     Appendices wy BARRICK 1:1

127. Slide 127: Vertical longitudinal section at Hemlo

     Ȃ ‡Ž‘‘–‡• A vertical longitudinal section looking 017 degrees. Some distortion is present due to a change in strike between the Main Zone and the C Zone. Historic significant intercepts, whether drilled by Barrick or a third party, are shown as red dots. Recent diamond drilling (2014 and 2015) is s

128. Slide 128: Alturas Significant Drill Intercepts

     Ȃ Ž–—”ƒ•‹‰‹ˆ‹ ƒ– –‡” ‡’–• ALTURAS - Significant Drill Intercepts through ALT-33 to ALT-049 (1) Core Drill Hole Azimuth Dip Interval (from m) Interval (to m) Width (m) (2) Au (g/t) 145 177 32 0.73 ALT-034 90 -69 193 222 27 (3) 0.58 238 286 48 1.14 126 138 12 2.62 ALT-035 23 -88 166 214 48 1.82 230

129. Slide 129: Alturas Initial Resource 5.5 Moz at 1.25g/t

     Ȃ Ž–—”ƒ• North Initial Resource Andesitic cap 5.5 Moz at 1.25g/t1 Breccia Dacite host rocks Alteration limit Oxidation limit 150m. > 0.25 g/t Au 1 km. > 1.0 g/t Au ‡ –‹‘•̷̱ʹͲͲ South 500m. 1. See final slide #5. Slide 1:44 is an aerial oblique view looking to the east of the drilling at Alturas sho

130. Slide 130: Fourmile Significant Intercepts

     Ȃ ‘—”‹Ž‡ SignificantIntercepts Fourmile – SignificantIntercepts1 GRCͲ0427DandGRCͲ0435D Core Drill Hole Azimuth Dip Interval (m) Width (m)² Au (g/t) 666.9 – 672.7 5.8 10.9 GRC-0427D NA -90 695.3 – 709.6 14.3 31.7 921.4 – 927.2 5.8 49.6 GRC-0435D NA -90 702.2 – 707.4 5.2 14.4 1 All significant interc

131. Slide 131: M+I sensitivity notes

     Ȃ Ϊ ‡•‹–‹˜‹–›‘–‡• 1. See final slide No. 5 2. M+I sensitivities for Barrick’s 63.9% interest in the Acacia mines have been calculated for the following assumed gold prices, only: Bulyanhulu and Buzwagi mines: $1,000/oz, $1,100/oz and $1,200/oz; North Mara mine: $1,000/oz, $1,100/oz, $1,200/oz and $

132. Slide 132: M+I, Incremental M+I and Inferred sensitivities

     Ȃ Ϊ ‡•‹–‹˜‹–›ƒ„Ž‡• M+I1,2,3,5 $900 $1,000 $1,100 $1,200 $1,300 $1,400 $1,500 M+I Tonnes (Mtonnes) 1,637 1,894 1,979 2,063 2,177 2,252 2,321 M+I Au Grade (gpt) 1.33 1.29 1.29 1.29 1.27 1.26 1.26 M+I Contained Ozs (Mozs) 70 79 82 86 89 91 94 Incremental M+I5 $900 $1,000 $1,100 $1,200 $1,300 $1,400 $1

133. Slide 133: Cortez - Overview

     APPENDIX CortezȂ ˜‡”˜‹‡™ ƒ Location: 120km SW of Elko, Nevada, United States ƒ Ownership: 100% Barrick ƒ Mine Type: Open Pit and Underground ƒ Products: Gold ƒ 2015 Reserves: 11.1Moz Gold at average grade of 2.26g/tonne ƒ 2015 M&I Resources: 2.2Moz Gold at average grade of 1.53g/tonne Operations at

134. Slide 134: Cortez - 2015 Review & 2016 Targets

     APPENDIX CortezȂ ʹͲͳͷ‡˜‹‡™ƬʹͲͳ͸ƒ”‰‡–• In 2015 gold production was 999koz, a For 2016 we expect gold production to be 11% increase over the prior year. This was in the range of 900-1,000koz, in line with 2015 primarily due to processing of higher grade ore production levels. Underground ore grades ar

135. Slide 135: Cortez - Production Metrics

     APPENDIX CortezȂ ”‘†— –‹‘‡–”‹ • koz AISC Production 2013 2014 2015 2016E 1,300 ($/oz) Metrics $800 Tonnes Mined 1,200 $706 134,007 152,146 151,357 - $640-710 $700 (000s) 1,100 Tonnes $600 19,999 25,957 22,406 - $603 Processed (000s) 1,000 $500 Head Grade 2.59 1.34 1.73 - 900 $440 $400 (g/tonne Au)

136. Slide 136: Cortez - Financial Metrics

     APPENDIX CortezȂ ‹ƒ ‹ƒŽƬ‘•–‡–”‹ • Financial 2013 2014 2015 2016E metrics Gold AISC 440 706 603 640-710 ($/oz) Gold Cash 229 498 486 480-530 Costs ($/oz) Sustaining 264 170 101 - Capex ($M) Expansion 132 19 47 - Capex ($M) Segment 1,610 648 630 - EBITDA ($M) 1. G&A included in Other Cash Costs 1:11

137. Slide 137: Cortez - Mining

     APPENDIX CortezȂ ‹‹‰ ƒ Open pit mining at 2 pits: Pipeline and Cortez Hills Mining Metrics 2013 2014 2015 – Conventional truck/shovel operation – Cortez Hills pit dimensions: 2km long x 1km wide x 450m Open Pit deep (no backfill) – Typical bench height: 6-15m Mining rate (ktpd) 366 415 413 – Prima

138. Slide 138: Cortez - Processing

     APPENDIX CortezȂ ”‘ ‡••‹‰ Processing metrics 2013 2014 2015 Mill Leaching Cost ($/tonne) 11.7 12.4 13.0 Throughput (tonne/day) 11,300 10,200 9,500 Recovery (%) 89.8% 84.2% 87.0% Total Production (koz Au) 1,077 4681 530 Heap Leaching Cost ($/tonne) 1.0 1.4 1.2 Throughput (tonne/day) 42,300 58,400 49

139. Slide 139: Cortez - Processing, cont'd

     APPENDIX CortezȂ ”‘ ‡••‹‰ǡ ‘–ǯ† Processing metrics 2013 2014 2015 Autoclave (Goldstrike) Cost ($/tonne) 46.1 67.81 45.9 Throughput (tonne/day) See Goldstrike See Goldstrike See Goldstrike Recovery (%) 87.2% 84.3% 75.6% Total Production (koz Au) 98 98 33 Roaster (Goldstrike) Cost ($/tonne) 29.8 28.

140. Slide 140: Goldstrike - Overview

     APPENDIX GoldstrikeȂ ˜‡”˜‹‡™ ƒ Location: 60km NW of Elko, Nevada, United States ƒ Ownership: 100% Barrick ƒ Mine Type: Conventional open pit and underground mining ƒ Products: Gold ƒ 2015 Reserves1: 8.5Moz Gold at average grade of 3.59g/tonne ƒ 2015 M&I Resources1: 1.8Moz Gold at average grade of 6.

141. Slide 141: Goldstrike - 2015 Review & 2016 Targets

     APPENDIX GoldstrikeȂ ʹͲͳͷ‡˜‹‡™ƬʹͲͳ͸ƒ”‰‡–• In 2015 gold production was 1,053koz, For 2016 we expect gold production to be 17% higher than the prior year. The increase in the range of 975-1,075koz, which is slightly was primarily due to higher grades from the higher than 2015 production levels, due op

142. Slide 142: Goldstrike - Production Metrics

     APPENDIX GoldstrikeȂ ”‘†— –‹‘‡–”‹ • Koz AISC Production ($/oz) 2013 2014 2015 2016E Metrics 1,000 $913 Tonnes Mined $854 $800 87,350 81,410 48,600 - $780- (000s) 850 800 Tonnes $658 $600 6,829 5,307 6,752 - Processed1 (000s) 600 Head Grade $400 5.01 6.28 6.01 - (g/tonne Au) 400 Recovery (%) 81.0 84

143. Slide 143: Goldstrike - Financial Metrics

     APPENDIX GoldstrikeȂ ‹ƒ ‹ƒŽƬ‘•–‡–”‹ • Financial 2013 2014 2015 2016E metrics Gold AISC 913 854 658 780-850 ($/oz) Gold Cash 618 571 522 560-610 Costs ($/oz) Sustaining 251 246 111 - Capex ($M) Expansion 223 287 33 - Capex ($M) Segment 693 628 599 - EBITDA ($M) 1. G&A included in Other Cash Costs 1

144. Slide 144: Goldstrike - Mining

     APPENDIX GoldstrikeȂ ‹‹‰ ƒ Open pit mining at Betze Post – Conventional truck/shovel operation Mining Metrics 2013 2014 2015 – Pit dimensions: 3.3km long x 2km wide x 600m deep (w/out backfill) Open Pit – Typical bench height: 6-13m Mining rate (ktpd) 235 219 194 – Primary loading fleet: Strip rat

145. Slide 145: Goldstrike - Processing

     APPENDIX GoldstrikeȂ ”‘ ‡••‹‰ Processing metrics 2013 2014 2015 Autoclave Cost ($/tonne) 52.2 88.6 62.8 Throughput (tonne/day) 7,000 2,9001 7,100 Recovery (%) 56.5% 61.8% 56.3% Total Production (koz Au) 93 50 171 Roaster Cost ($/tonne) 24.5 25.4 24.6 Throughput (tonne/day) 14,100 14,200 13,900 Reco

146. Slide 146: Hemlo - Overview

     APPENDIX HemloȂ ˜‡”˜‹‡™ ƒ Location: 350km East of Thunder Bay, Ontario, Canada ƒ Ownership: 100% Barrick ƒ Mine Type: Open Pit and Underground ƒ Products: Gold ƒ 2015 Reserves: 0.9Moz Gold at average grade of 2.16g/tonne ƒ 2015 M&I Resources: 1.5Moz Gold at average grade of 1.06g/tonne Hemlo has pro

147. Slide 147: Hemlo - 2015 Review & 2016 Targets

     APPENDIX HemloȂ ʹͲͳͷ‡˜‹‡™ƬʹͲͳ͸ƒ”‰‡–• In 2015 gold production of 219koz For 2016 we expect gold production to be increased by 6% over the prior year. The in the range of 200-220koz, similar to 2015 increase was primarily due to increase in production levels. Cash costs are expected to underground ton

148. Slide 148: Hemlo - Production Metrics

     APPENDIX HemloȂ ”‘†— –‹‘‡–”‹ • Koz AISC ($/oz) Production Metrics 2013 2014 2015 2016E 240 $1,200 $1,227 220 Tonnes Mined $1,059 $1,000 8,086 8,127 7,409 - (000s) 200 $895 $800 Tonnes Processed $790- 3,110 2,916 3,120 - 180 870 (000s) $600 Head Grade 160 2.19 2.34 2.30 - (g/tonne Au) $400 140 Recov

149. Slide 149: Hemlo - Financial Metrics

     APPENDIX HemloȂ ‹ƒ ‹ƒŽƬ‘•–‡–”‹ • Financial 2013 2014 2015 2016E metrics Gold AISC 1,227 1,059 895 790-870 ($/oz) Gold Cash 922 829 708 600-660 Costs ($/oz) Sustaining 52 45 38 - Capex ($M) Expansion 0 0 39 - Capex ($M) Segment 8 153 (19) - EBITDA ($M) 1. G&A included in Other Cash Costs 1:24

150. Slide 150: Hemlo - Mining

     APPENDIX HemloȂ ‹‹‰ ƒ Open pit mining: – Conventional truck/loader operation Mining Metrics 2013 2014 2015 – Pit dimensions: 1km long x 0.6km wide x 200m deep (no backfill) Open Pit – Typical bench height: 10m Mining rate (ktpd) 19 19 18 – Primary loading fleet: Strip ratio 2.5:1 3.5:1 2.6:1 – 2 x

151. Slide 151: Hemlo - Processing

     APPENDIX HemloȂ ”‘ ‡••‹‰ Processing metrics 2013 2014 2015 Mill Leaching Cost ($/tonne) 10.7 11.9 9.2 Throughput (tonne/day) 8,500 8,000 8,500 Recovery (%) 93.3% 93.9% 94.6% Total Production (koz Au) 204 206 219 Total Cost ($/tonne) 10.7 11.9 9.2 Throughput (tonne/day) 8,500 8,000 8,500 Recovery (%

152. Slide 152: Lagunas Norte - Overview

     APPENDIX LagunasNorteȂ ˜‡”˜‹‡™ ƒ Location: 140km East of Trujillo, Peru ƒ Ownership: 100% Barrick ƒ Mine Type: Open Pit ƒ Products: Gold, Silver ƒ 2015 Reserves: 3.7Moz Gold at average grade of 1.82g/tonne ƒ 2015 M&I Resources: 1.6Moz Gold at average grade of 1.36g/tonne The property lies on the wes

153. Slide 153: Lagunas Norte - 2015 Review & 2016 Targets

     APPENDIX LagunasNorteȂ ʹͲͳͷ‡˜‹‡™ƬʹͲͳ͸ƒ”‰‡–• In 2015 gold production of 560 koz For 2016 we expect gold production to be decreased by 4% over the prior year primarily in the range of 410-450 koz, down from 2015 due to processing of lower recovery ore as the production levels in line with the progress

154. Slide 154: Lagunas Norte - Production Metrics

     APPENDIX LagunasNorteȂ ”‘†— –‹‘‡–”‹ • koz AISC Production ($/oz) 2013 2014 2015 2016E Metrics $700 700 Tonnes Mined 36,934 50,030 49,126 - (000s) $627 $600 $570- 600 640 Tonnes $543 21,089 22,110 21,880 - $500 Processed (000s) $509 500 $400 Head Grade 1.06 0.99 1.02 - (g/tonne Au) $300 400 Recovery

155. Slide 155: Lagunas Norte - Financial Metrics

     APPENDIX LagunasNorteȂ ‹ƒ ‹ƒŽƬ‘•–‡–”‹ • Financial 2013 2014 2015 2016E metrics Gold AISC 627 543 509 570-640 ($/oz) Gold Cash 361 379 329 380-420 Costs ($/oz) Sustaining 139 81 67 - Capex ($M) Expansion 0 0 0 - Capex ($M) Segment 602 531 454 - EBITDA ($M) 1. G&A included in Other Cash Costs 1:30

156. Slide 156: Lagunas Norte - Mining

     APPENDIX LagunasNorteȂ ‹‹‰ ƒ Open pit mining Mining Metrics 2013 2014 2015 – Conventional truck/shovel operation – Pit Dimensions: 2.5km long x 1.5km wide x Open Pit 170m deep (no backfill) Mining rate (ktpd) 101 137 135 – Typical Bench Height: 10m – Primary Loading Fleet: Strip Ratio 0.4:1 0.9:1

157. Slide 157: Lagunas Norte - Processing

     APPENDIX LagunasNorteȂ ”‘ ‡••‹‰ Processing metrics 2013 2014 2015 Heap Leaching Cost ($/tonne) 2.99 2.99 2.94 Throughput (tonne/day) 57,800 60,600 59,900 Recovery (%) 84.0% 82.7% 78.1% Total production (koz Au) 606 582 560 Total Cost ($/tonne) 2.99 2.99 2.94 Throughput (tonne/day) 57,800 60,600 59,

158. Slide 158: Lumwana - Overview

     APPENDIX LumwanaȂ ˜‡”˜‹‡™ ƒ Location: 100km west of Solwezi, Zambia ƒ Ownership: 100% Barrick ƒ Mine Type: Conventional Open Pit (Truck and Shovel) ƒ Products: Copper Concentrate ƒ 2015 Reserves: 3.1Blb Copper at average grade of 0.56% ƒ 2015 M&I Resources: 7.8Blb Copper at average grade of 0.52% Ba

159. Slide 159: Lumwana - 2015 Review & 2016 Targets

     APPENDIX LumwanaȂ ʹͲͳͷ‡˜‹‡™ƬʹͲͳ͸ƒ”‰‡–• In 2015 copper production of 287 Mlb For 2016 we expect copper production to increased by 34% over the prior year. The be in the range of 270-290 Mlb, which is down increase was primarily due to an increase in from 2015 production levels, due primarily to tonne

160. Slide 160: Lumwana - Production Metrics

     APPENDIX LumwanaȂ ”‘†— –‹‘‡–”‹ • Mlb AISC Production ($/oz) 2013 2014 2015 2016E Metrics 350 $3.60 Tonnes Mined 92,910 77,000 68,563 (000s) $3.15 3.00 300 Tonnes 21,910 15,748 21,632 Processed (000s) $2.42 250 2.00 Head Grade $1.90- 0.58% 0.67% 0.65% (% Cu) 2.20 200 Recovery 93.4% 93.5% 93.3% (%) 1

161. Slide 161: Lumwana - Financial Metrics

     APPENDIX LumwanaȂ ‹ƒ ‹ƒŽƬ‘•–‡–”‹ • Financial 2013 2014 2015 2016E metrics Copper AISC 3.60 3.15 2.42 1.90-2.20 ($/ lb) Copper C1 Cash Costs ($/ 2.29 2.08 1.72 1.35-1.60 lb) Sustaining 262 182 98 Capex ($M) Expansion 0 0 0 Capex ($M) Segment 188 138 113 EBITDA ($M) 1. G&A included in Other Cash Cos

162. Slide 162: Lumwana - Mining

     APPENDIX LumwanaȂ ‹‹‰ ƒ Open pit mining at Chimiwungo pit: Mining Metrics 2013 2014 2015 – Conventional truck/shovel operation and conveyor Open Pit – Three Current Pits Average Dimensions: 1km long x 0.6km Mining rate (ktpd) 253 211 187 wide x 120m deep Strip Ratio 3.1:1 3.2:1 1.9:1 – Typical Ben

163. Slide 163: Lumwana - Processing

     APPENDIX LumwanaȂ ”‘ ‡••‹‰ Processing metrics 2013 2014 2015 Concentrator Cost ($/tonne) 3.53 3.94 2.79 Throughput (tonne/day) 60,027 43,145 59,266 Recovery (%) 93.4% 93.5% 93.3% Total Production (Mlb Cu) 260 214 287 Total Cost ($/tonne) 3.53 3.94 2.79 Throughput (tonne/day) 60,027 43,145 59,266 Re

164. Slide 164: Porgera - Overview

     APPENDIX PorgeraȂ ˜‡”˜‹‡™ ƒ Location: 600km NW of Port Moresby, Papua New Guinea ƒ Ownership: 47.5% Barrick, 47.5% Zijin Mining Group, 5% Mineral Resources Enga ƒ Mine Type: Conventional open pit (truck and excavators) and underground mining (long hole open stoping using paste as backfill) ƒ Product

165. Slide 165: Porgera - 2015 Review & 2016 Targets

     APPENDIX PorgeraȂ ʹͲͳͷ‡˜‹‡™ƬʹͲͳ͸ƒ”‰‡–• In 2015 gold production of 436 koz For 2016 we expect gold production to be decreased by 11% over the prior year. Even in the range of 230-260 koz, which is though the mine has improved and production significantly lower than 2015 production levels, has risen o

166. Slide 166: Porgera - Production Metrics

     APPENDIX PorgeraȂ ”‘†— –‹‘‡–”‹ •ȋͳͲͲΨƒ•‹•Ȍ Koz AISC Production 2013 2014 2015 2016E ($/oz) Metrics $1,361 Tonnes Mined $1,200 19,608 16,546 22,889 - 500 (000s) Tonnes $990- $1,000 5,636 5,878 5,531 - $996 $1,018 Processed (000s) 400 1,080 Total Production Head Grade $800 3.22 3.10 3.60 - (g/tonne A

167. Slide 167: Porgera - Financial Metrics (Barrick Share)

     APPENDIX PorgeraȂ ‹ƒ ‹ƒŽƬ‘•–‡–”‹ •ȋƒ””‹ Šƒ”‡Ȍ Financial 2013 2014 2015 2016E metrics Gold AISC 1,361 996 1,018 990-1,080 ($/oz) Gold Cash 965 915 791 700-750 Costs ($/oz) Sustaining 171 33 93 - Capex ($M) Expansion 0 0 0 - Capex ($M) Segment 190 164 162 - EBITDA ($M) 1. G&A included in Other Cash

168. Slide 168: Porgera - Mining (100% Basis)

     APPENDIX PorgeraȂ ‹‹‰ȋͳͲͲΨƒ•‹•Ȍ ƒ Open pit : Conventional truck/excavator operation – Pit dimensions: Mining Metrics 2013 2014 2015 – 2.0km long x 1.2km wide x 400m deep – Typical bench height: 10m Open Pit – Primary loading fleet: – 3 x Terex RH200 Mining rate (ktpd) 51 41 59 – 1 x Terex RH120 –

169. Slide 169: Porgera - Processing (100% Basis)

     APPENDIX PorgeraȂ ”‘ ‡••‹‰ȋͳͲͲΨƒ•‹•Ȍ Processing metrics 2013 2014 2015 Mill Leaching Cost ($/tonne)1 33.1 29.6 22.7 Throughput (tonne/day) 15.400 16,100 15,200 Recovery (%) 87.0% 88.5% 86.7% Total Production (koz Au) 507 519 554 Total Site Cost ($/tonne) 33.1 29.6 22.7 Throughput (tonne/day) 15.400

170. Slide 170: Pueblo Viejo - Overview

     APPENDIX PuebloViejoȂ ˜‡”˜‹‡™ ƒ Location: 100km NW of Santo Domingo, Dominican Republic ƒ Ownership: 60% Barrick (operator), 40% Goldcorp ƒ Mine Type: Open Pit ƒ Products: Gold, Silver ƒ 2015 Reserves1: 9.0Moz Gold at average grade of 2.97g/tonne ƒ 2015 M&I Resources1: 7.7Moz Gold at average grade o

171. Slide 171: Pueblo Viejo - 2015 Review & 2016 Targets (60%)

     APPENDIX PuebloViejoȂ ʹͲͳͷ‡˜‹‡™ƬʹͲͳ͸ƒ”‰‡–•ȋ͸ͲΨȌ In 2015 gold production of 572 koz was For 2016 we expect gold production to be 14% lower than the prior year primarily due to in the range of 600-650 koz, up from 2015 lower ore grades and recoveries as ore was production levels primarily due to impro

172. Slide 172: Pueblo Viejo - Production Metrics (60% Basis)

     APPENDIX PuebloViejoȂ ”‘†— –‹‘‡–”‹ •ȋͳͲͲΨƒ•‹•Ȍ Koz AISC Production ($/oz) 2013 2014 2015 2016E Metrics $800 800 $735 Tonnes Mined 15,319 35,091 37,893 - Barrick Attributable Production (60%) (000s) $570- 620 Tonnes $597 $600 4,429 6,712 6,917 - $588 Processed (000s) 600 Head Grade 6.139 5.529 4.944

173. Slide 173: Pueblo Viejo - Financial Metrics (60% Basis)

     APPENDIX PuebloViejoȂ ‹ƒ ‹ƒŽƬ‘•–‡–”‹ •ȋ͸ͲΨƒ•‹•Ȍ Financial 2013 2014 2015 2016E metrics Gold AISC 735 588 597 570-620 ($/oz) Gold Cash 561 446 467 440-480 Costs ($/oz) Sustaining 73 80 61 - Capex ($M) Expansion 0 0 0 - Capex ($M) Segment 569 912 702 - EBITDA ($M) 1. G&A included in Other Cash Costs

174. Slide 174: Pueblo Viejo - Mining (100% Basis)

     APPENDIX PuebloViejoȂ ‹‹‰ȋͳͲͲΨƒ•‹•Ȍ ƒ Open pit mining at 2 large pits, Moore and Montenegro and one small Mining Metrics 2013 2014 2015 satellite pit, Monte Oculto Norte Open Pit – Conventional truck/shovel operation – Pit dimensions: 2.5km long x 1.5km Mining rate (ktpd) 42.0 96.1 104.0 wide x 30

175. Slide 175: Pueblo Viejo - Processing (100% Basis)

     APPENDIX PuebloViejoȂ ”‘ ‡••‹‰ȋͳͲͲΨƒ•‹•Ȍ Processing metrics at 100% 2013 2014 2015 Autoclave Cost ($/tonne) 77.8 58.0 50.4 Throughput (tonnes/day) 12,100 18,400 18,900 Recovery (%) 93.0% 92.9% 86.8% Total production (koz Au) 813 1,109 954 Total Cost ($/tonne) 77.8 58.0 50.4 Throughput (tonnes/day)

176. Slide 176: Turquoise Ridge - Overview

     APPENDIX TurquoiseRidgeȂ ˜‡”˜‹‡™ ƒ Location: 44km NE of Winnemucca, Nevada, United States ƒ Ownership: 75% Barrick (operator), 25% Newmont ƒ Mine Type: Underground ƒ Products: Gold ƒ 2015 Reserves1: 4.2Moz Gold at average grade of 15.30g/tonne ƒ 2015 M&I Resources1: 11.4Moz Gold at average grade of

177. Slide 177: Turquoise Ridge - 2015 Review & 2016 Targets (75%)

     APPENDIX TurquoiseRidgeȂ ʹͲͳͷ‡˜‹‡™ƬʹͲͳ͸ƒ”‰‡–•ȋ͹ͷΨȌ In 2015 gold production of 217koz For 2016 we expect gold production to be increased by 11% over the prior year, primarily in the range of 200-220koz, in line with 2015 due to an increase in tonnes mined and production levels. We expect cash costs t

178. Slide 178: Turquoise Ridge - Production Metrics (75% Basis)

     APPENDIX TurquoiseRidgeȂ ”‘†— –‹‘‡–”‹ •ȋͳͲͲΨƒ•‹•Ȍ Koz AISC Production 2013 2014 2015 2016E $928 ($/oz) Metrics $770- 300 850 Tonnes Mined 407 416 465 - $742 $800 Barrick Attributable Production (75%) (000s) Tonnes 454 447 520 - $628 Processed (000s) 200 $600 Head Grade 16.29 19.62 18.82 - (g/tonne

179. Slide 179: Turquoise Ridge - Financial Metrics (75% Basis)

     APPENDIX TurquoiseRidgeȂ ‹ƒ ‹ƒŽƬ‘•–‡–”‹ •ȋ͹ͷΨȌ Financial 2013 2014 2015 2016E metrics Gold AISC 928 628 742 770-850 ($/oz) Gold Cash 586 473 581 560-620 Costs ($/oz) Sustaining 55 30 32 - Capex ($M) Expansion 0 0 0 - Capex ($M) Segment 129 156 115 - EBITDA ($M) 1. G&A included in Other Cash Costs

180. Slide 180: Turquoise Ridge - Mining (100% Basis)

     APPENDIX TurquoiseRidgeȂ ‹‹‰ȋͳͲͲΨƒ•‹•Ȍ ƒ Underground Mining Mining Metrics 2013 2014 2015 – Underhand drift and fill with 100% mechanization Underground – Tunnel 5.2m high x 5 m wide Mining rate (ktpd) 1.4 1.4 1.6 – Reinforcement : steel rockbolts, Mining cost mesh and shotcrete 199.95 196.01 214.

181. Slide 181: Turquoise Ridge - Processing (100% Basis)

     APPENDIX TurquoiseRidgeȂ ”‘ ‡••‹‰ȋͳͲͲΨƒ•‹•Ȍ Processing metrics 2013 2014 2015 Twin Creeks (Sage Mill) Cost ($/tonne) 36.4 45.0 37.8 Throughput (tonnes/day) N/A N/A N/A Recovery (%) 92.0% 92.0% 92.0% Total production (koz Au) 223 259 289 Total Cost ($/tonne) 36.4 45.0 37.8 Throughput (tonnes/day) N/

182. Slide 182: Veladero - Overview

     APPENDIX VeladeroȂ ˜‡”˜‹‡™ ƒ Location: 6km east of the Chile-Argentina border, 374km NW of San Juan, Argentina ƒ Ownership: 100% Barrick ƒ Mine Type: Open Pit ƒ Products: Gold, Silver ƒ 2015 Reserves: 7.5Moz Gold at average grade of 0.85g/tonne ƒ 2015 M&I Resources: 1.3Moz Gold at average grade of 0

183. Slide 183: Veladero - 2015 Review & 2016 Targets

     APPENDIX VeladeroȂ ʹͲͳͷ‡˜‹‡™ƬʹͲͳ͸ƒ”‰‡–• In 2015 gold production of 602 koz For 2016 we expect gold production to be decreased by 17% over the prior year. This was in the range of 630-690 koz, which is up from due to lower ore grades from Federico phase 3 2015 production levels as a result of higher

184. Slide 184: Veladero - Production Metrics

     APPENDIX VeladeroȂ ”‘†— –‹‘‡–”‹ • Koz AISC Production 2013 2014 2015 2016E $830- ($/oz) Metrics $946 900 Tonnes Mined 78,592 67,686 83,409 - (000s) 700 $833 $800 $815 Tonnes 29,086 29,500 28,385 - Processed (000s) 600 $600 Head Grade 0.94 0.99 0.82 - (g/tonne Au) Recovery (%) 73.1 76.4 80.0 - 500 $

185. Slide 185: Veladero - Financial Metrics

     APPENDIX VeladeroȂ ‹ƒ ‹ƒŽƬ‘•–‡–”‹ • Financial 2013 2014 2015 2016E metrics Gold AISC 833 815 946 830-900 ($/oz) Gold Cash 501 566 552 550-600 Costs ($/oz) Sustaining 208 173 244 - Capex ($M) Expansion 0 0 0 - Capex ($M) Segment 522 446 324 - EBITDA ($M) 1:60

186. Slide 186: Veladero - Mining

     APPENDIX VeladeroȂ ‹‹‰ ƒ Open pit mining at Filo Federico Pit Mining Metrics 2013 2014 2015 – Conventional truck/shovel operation – Pit dimensions: 1.2km long x 2.1km Open Pit wide x 600m deep (no backfill) Mining rate (ktpd) 215 185 229 – Typical bench height: 15m Strip Ratio 1.8:1 1.3:1 1.8:1 –

187. Slide 187: Veladero - Processing

     APPENDIX VeladeroȂ ”‘ ‡••‹‰ Processing metrics 2013 2014 2015 Heap Leaching Cost ($/tonne) 3.56 3.20 3.53 Throughput (tonne/day) 79,700 80,800 77,800 Recovery (%) 73.1% 76.4% 80.0% Total production (koz Au) 641 722 602 Total Cost ($/tonne) 3.56 3.20 3.53 Throughput (tonne/day) 79,700 80,800 77,800

188. Slide 188: Endnotes: non-GAAP measures and notes

     ‘‘–‘–‡• 1. All-in sustaining costs (“AISC”) per ounce/per pound, cash costs per ounce, C1 cash costs per pound, adjusted net earnings, adjusted EBITDA and free cash flow (“FCF”) are non-GAAP financial performance measures with no standardized definition under IFRS. See pages 70-78 of Barrick’s Four

Barrick Mining — Investor Day (February 2016) on 6ix