Slide 1: Twiga Partnership Delivers Growth and Shared Value for Tanzania
Twiga Partnership Delivers Growth and Shared Value for Tanzania
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,
Slide 3: Best portfolio of Tier One gold assets
Best portfolio of Tier One1 gold assets A world class and doubling copper exposure by 2029i Gold and Copper mining company… 14 Gold mines – including 6 top Tier One1 3 Copper mines Significant gold and copper growth projects Copper AME 79% Gold AME 37% Gold NA 46% Gold Latam & AP 17% Copper Latam &
Slide 4: Key Milestones
Key Milestones… 2024 Bulyanhulu 2021 Special Mining License Gold Price US$/oz Bulyanhulu renewed – 25yrs. - 1,235 2,500 25km conversion km2 added to exploration drilling added 1.1Moz portfolio 2021 of reserve - Start the Upper West Box North Mara cut to bring operational Completion of North Mara fle
Slide 5: Q2 2025 Highlights
Q2 2025 Highlights… Delivering on our business plan North Mara Commissioned 5MW Battery Energy Storage System (BESS) allowing for reduced emissions by eliminating diesel burn for spinning reserve (15,000 l/d) Improved plant throughput to 410 t/h -1% above target through optimisation of the pebble ci
Slide 6: Safety…continuing our Journey to Zero
Safety…continuing our Journey to Zero TWIGA operations remain Lost Time Injury (LTI) free LTIFR2 for 2025 = 0.00 TRIFR2 decreased from 1.08 in 2024 YTD to 0.67 in 2025 YTD Total Recordable Incidents decreased from 11 in 2024 to 7 in 2025 YTD 2.5 TWIGA TRIFR2 1.99 Critical Control Verification and 2
Slide 7: Health... Malaria
Malaria Health... Malaria incidence rate (MIR) reduced — from 6.04% in Q2 2023 to 0.81% in Q2 2025 86.6% relative decrease over two years, reflecting the success of sustained prevention efforts Malaria elimination program strategy successfully deployed Both sites implemented recommendations from pre
Slide 8: North Mara operational performance
North Mara operational Open Pit Mining (kt) performance… 6,000 5,000 5,226 5,562 4,112 3,791 3,993 4,000 3,000 Gold production on track to achieve guidance 2,000 Open pit mining 1,000 Gena mining has ramped over the past year – 0 successfully concluding Cut 2 mining during Q2 2024 Q1 2024 Q2 2024 Q3
Slide 9: North Mara…building the pipeline to extend the LOM
North Mara…building the pipeline to extend the LOM N Framework drilling at Tagota Tagota Complex confirming a wide, anomalous 2km- long corridor, under cover Belt Scale target generation studies in progress to define the next priority targets Gokona- Main deposits remain open at depth Gena with furt
Slide 10: Bulyanhulu operational performance
Bulyanhulu operational UG Mining (kt) performance 362 374 361 394 362 300000 Underground Mining 276 269 307 269 298 200000 Upper West decline development shows improved development rate in competent ground conditions 100000 86 76 92 87 93 Focus on underground performance through better 0 2024 Q1 202
Slide 11: Bulyanhulu Inlier
Bulyanhulu Inlier… 0.5-1km long structures, sub- parallel to Bulyanhulu Argillite hosted Au-Cu anomaly testing near mine targets N Kalemero 3.2km strained zone Drill testing of priority targets across proximal felsic/basalt contact Au-Ag-Cu. the Bulyanhulu Inlier in progress Frameworxk drilling Q3-4
Slide 12: Environmental management
Environmental management… Buzwagi - Rehabilitation TSF Operation and Management North Mara - Water Management Tailings Storage Facility (TSF) The reclamation of the TSF Cell 1&2 Progressed construction of second line to recommended for safe closure as per progressed during the quarter with pump leac
Slide 13: Overall economic contribution since Barrick assumed operational control in 2019
Overall economic contribution since Barrick assumed operational control in 2019… One of the largest contributors to the economy through taxes paid, employment, community Total In-Country Investment projects and distribution to Twiga shareholders 2019 – Q2 2025 $4.79bn in-country investment, with $1.
Slide 14: Q2 2025 local content update
Q2 2025 local content update… Key Achievements Ongoing Initiatives Total local spend 91% and indigenous company3 spend 83% Preparations for 2025 Local Business Development Program in - exceeding annual target of 65% progress Participated in the 4th Local Content Compliance Forum (LCCF) Continue coll
Slide 15: Commitment to local employment
Composition of Employees and Contractors Commitment to local employment… Expats Contractors 2% Key Achievements Q2 2025: National Contractors 95% Tanzanian workforce – with 49% 48% hired from communities surrounding the operating mines Total 58% of senior management positions are Employees held by T
Slide 16: Recognition and awards received in 2025
Recognition and awards received in 2025… Barrick Tanzania recognized as Top Dividend Payer Award by President Samia Suluhu Samia through Twiga Minerals Corporation Barrick Tanzania recognized for exemplary OSH commitment in mining, setting safety benchmarks in the extractive industry by the Occupati
Slide 17: Barrick Academy at Buzwagi Special Economic Zone
Barrick Academy at Buzwagi Special Economic Zone… 67 Union representatives graduated from the Foundations for Management and Leadership program in Dec 2024 100 contractor employees trained, with the first cohort starting their journey in April 2025 To date, 671 improvement projects have been submitt
Slide 18: Supporting our communities since 2019
Supporting our communities since 2019 Others (Community Economic engagement) Development 5% 8% Roads Infrastructure Investing in education 25% $16.3m Water and Power Projects 4% Health Education 21% 37% Empowering youth with small-scale mining skills 18
Slide 19: Supporting national infrastructure
Supporting national infrastructure… Kahama – Kakola 73km to tarmac road Committed to spend up to US$40m Upgrading the 73km road to Bitumem standards From Kahama to Bulyanhulu Junction The upgrade includes: Road drainage Earthworks Pavement layers Asphalt pavements and seals (bitumen and concrete) An
Slide 20: Supporting national infrastructure
Supporting national infrastructure… Water supply project (part of Buzwagi Mine closure) Increased Municipal water sourcing capacity by building 8.5km pipeline from Buzwagi water storage pond to Shunu distribution point Key positive impacts of the project: Provision of an additional 1.1 billion litre
Slide 21: Bulyanhulu…strengthening our License to Operate
Bulyanhulu…strengthening our License to Operate CDC initiated infrastructure project Resettlement Program Parliamentary Standing Committee visit 2024 Community Development Committee Out of 414 total Project Affected Persons Hosted Parliamentary Standing Committee, (CDC) initiatives: 46 projects enha
Slide 22: 2024 CDC projects update
2024 CDC projects update… L Lwabakanga Primary School classrooms and office addition Bugarama Health Centre wall construction 22
Slide 23: Bulyanhulu…strengthening our License to Operate
Bulyanhulu…strengthening our License to Operate Upper West Project – before resettlement Upper West Project – after resettlement Community sports bonanza Administration block Mwakata Secondary School
Slide 24: North Mara…strengthening our License to Operate
North Mara…strengthening our License to Operate Regular engagements with Human Rights NGOs and their Rolled out clinics to collect and actively respond to grievances in all 11 involvement in key activities (e.g., Rama RAP process) have helped villages in partnership with CDC, Regional, and District
Slide 25: Strengthening our License to Operate
Strengthening our License to Operate Fostering development and enhancing quality of life - 2025 Education Infrastructure Expansion of Community Water Project Clean cooking energy projects North Mara continues the construction and Total TZS 2.7B allocated and approved from Supported Tarime Prison wit
Slide 26: North Mara…transforming the community
North Mara…transforming the community Vijana Wachimbaji (Youth Artisanal Miners) Project Matongo Agribusiness Project 1,736 youth from Tarime rural, in 48 groups, received 106 mining Phase I (pilot phase) of the Tarime youth agri-learning hub concluded in licences from the Government of Tanzania to
Slide 27: 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 28: Appendix A – Assumptions/Outlook
Appendix A – Assumptions/Outlook Key Outlook Assumptions 2024 2025 2026+ Gold Price ($/oz) 2,400 2,400 2,400 Copper Price ($/lb) 4.00 4.00 4.00 Oil Price (WTI) ($/barrel) 80 70 70 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
Slide 29: Appendix B – North Mara Historical Total Mineral Reserves
Appendix B – North Mara Historical Total Mineral Reservesi 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) 2019 $1,200/oz North Mara 1.3
Slide 30: Appendix C – Bulyanhulu Historical Total Mineral Reserves
Appendix C – Bulyanhulu Historical Total Mineral Reservesi Proven Probable Total Tonnes Contained Tonnes Contained Tonnes Contained Based on 100% Basis Grade ozs Grade ozs Grade ozs Year Gold Price Assumption Project (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) 2019 $1,200/oz Bulyanhulu 2.4