Slide 1: Results for Q2 2024
Results for Q2 2024… August 2024
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: Group Highlights for Q2 2024
Group Highlights… For Q2 2024 ■ 30% decrease in Lost Time Injury Frequency Rate q/q1 ■ Q2 production in line with plan; increasing throughout the $0.21 24% q/q year with costs declining to meet full year guidance Net earnings per sharei ■ 39% increase in group’s gold marginsii with costs flat and
Slide 4: Group Financial Results
Group Financial Results… Financial Results Q2 2024 Q1 2024 Q2 2023 Revenue ($ million) 3,162 2,747 2,833 Attributable EBITDA margin3 up 17% q/q to 48% Net earnings ($ million) 370 295 305 Strong operating cash flows of $1.16 billion Adjusted net earnings 557 333 336 ($ million)2 Free cash flow 6 up
Slide 5: Group Operating Results
Group Operating Results… Gold operating results Q2 2024 Q1 2024 Q2 2023 ■ Increased Q2 gold production following Attributable production (koz) 948 940 1,009 seasonal maintenance and mine plan sequencing Cost of sales ($/oz)8 1,441 1,425 1,323 ■ Slightly higher costs per ounce were a 1,059 1,051 963
Slide 6: Health & Safety
Health & Safety… Reduction in Lost Time Injury Frequency Rate and Total Recordable Injury Frequency Rate q/q 1.4 Quarterly performance saw Lost Time Injury Frequency Rate (LTIFR) improve by 30% to 1.2 0.16, and the Total Recordable Injury Frequency Rate (TRIFR) improved by 35% to 1.0 0.821 -35% For
Slide 7: Contributing to the SDGs
Contributing 97% 57% 74% 21% 26,000 Employees are Employees from Senior manager Women in Employees to the SDGs host country nationals communities surrounding the are host country nationals Management Positions across the globe mine Barrick pioneers Biodiversity Assessment Impact Tool Marjarita River
Slide 8: North America
North America… Goldrush (NGM, Barrick 61.5%) successfully ramping up underground production, targeting 400,000oz p.a. by 2028i Donlin Fourmile (Barrick 100%) (50%) Drilling is confirming intercept grades which CANADA are consistently double those at Goldrush along the 2.5-kilometer strike length of
Slide 9: Nevada Gold Mines operating results
Nevada Gold Mines… operating results Nevada Gold Mines (61.5%) Q2 2024 Q1 2024 Q2 2023 Carlin ■ On track for the year; focus is on underground development Ore tonnes processed (000) 6,446 6,779 9,054 to increase operational flexibility Average grade processed (g/t) 2.63 2.51 2.17 ■ Ongoing work at G
Slide 10: Fourmile: Tier One asset in the making
Fourmile…Tier One11 asset in the making N Long Section looking East Au g/t S 15 2024 drilling Vent raise on track for 10 Goldrush development design completion Q4 2024 7 6 2023 Fourmile indicated resourcei 3 2023 Fourmile inferred resourcei FM22-181Di: 18.0m @ 29.67g/t and 31.7m @ 33.67g/t Ordovicia
Slide 11: Leeville Complex: Carlin's growth engine
Leeville Complex… N Carlin’s growth engine Leeville – world class complex in the Carlin district Potential to increase current reserves two to three times from near mine exploration within the next five to ten NTC-23037ii years, extending the mine life beyond 2045 8.8m @ 25.03g/t Drilling continues
Slide 12: Latin America & Asia Pacific
Latin America & Asia Pacific… Pueblo Viejo - throughput improvement offset by lower Reko Diq recovery and temporary increase in gold in circuit INDIA (50%) inventory – production increase and lower costs expected in H2 PAKISTAN, Balochistan Porgera - Ramp up to achieve commercially sustainable produ
Slide 13: Pueblo Viejo
Pueblo Viejo… Dominican Republic Pueblo Viejo (60%) Q2 2024 Q1 2024 Q2 2023 ■ Pueblo Viejo plant expansion and mine life extension Ore tonnes processed (000) 1,496 1,382 1,206 designed to increase throughput to 14Mt p.a. and Average grade processed (g/t) 2.38 2.33 2.31 sustain gold production at >80
Slide 14: Pueblo Viejo expansion
Q3 and Q4 Projects Pueblo Viejo… Grind control - Advanced process control, operations of cyclones and screens Desliming and flotation – coagulant in thickener and staged dosing of flotation expansion Lime and Limestone - Ball mill bypass, slaker operations and screens CIL and carbon regeneration – d
Slide 15: Africa & Middle East
Africa & Middle East… Kibali Gold Mine - delivers 8% increase in Jabal Sayid 50% production q/q and conversion drilling confirms EGYPT SAUDI extension of high grade lodes down-plunge in ARABIA MALI main KCD orebody SENEGAL Lumwana Copper Mine - feasibility study for Loulo- Kibali 45% Gounkoto 80% DR
Slide 16: Loulo-Gounkoto
Loulo-Gounkoto… Mali Loulo-Gounkoto (80%) Q2 2024 Q1 2024 Q2 2023 Higher grades processed in Q2 in line with Ore tonnes processed (000) 1,038 1,059 1,018 mine plan, partially offset by lower throughput Average grade processed (g/t) 4.52 4.47 4.67 and recovery rate Recovery rate (%) 91 % 93 % 92 % Co
Slide 17: Loulo-Gounkoto: Baboto Complex drilling
Loulo-Gounkoto… Baboto Complex drilling confirms high grade intercepts at depth Baboto South drilling returns positive indications of a large-scale (+3.5km) system present below shallow near-surface drilling Limited drilling at depth confirming presence of strongly altered system showing similaritie
Slide 18: Kibali
Kibali… DRC Kibali (45%) Q2 2024 Q1 2024 Q2 2023 Ore tonnes processed (000) 966 925 949 Average grade processed (g/t) 2.95 2.85 3.18 Gold production 8% higher quarter on quarter Recovery rate (%) 89 % 89 % 90 % driven by planned higher grades and throughput Gold produced (oz 000) 82 76 87 Waste stri
Slide 19: KCD Area and ARK
KCD Area and ARKi Agbarabo-Rhino-Airbo-Kombokolo (ARK) – high grade results and encouraging observations from multiple drill holes highlight potential of 1.5km wide corridor to deliver a potential for brownfields growth significant orebody. Open along strike and down plunge with sufficient space for
Slide 20: North Mara & Bulyanhulu
North Mara & Bulyanhulu… Tanzania North Mara (84%) Q2 2024 Q1 2024 Q2 2023 North Mara 54 46 64 Gold produced (oz 000) Increased Q2 production 17% q/q on Cost of sales ($/oz)8 1,570 1,678 1,208 planned higher grades and throughput Total cash costs ($/oz)9 1,266 1,339 942 Cost of sales8 and total cash
Slide 21: Lumwana
Lumwana… Zambia Increased production 14% q/q due to higher Lumwana (100%) Q2 2024 Q1 2024 Q2 2023 throughput, following a planned Q1 shutdown, Copper produced (thousand 25 and higher grades, in line with plan tonnes) 22 30 Grades are expected to increase further Cost of sales ($/lb)8 3.15 3.41 2.80
Slide 22: Key Growth Projects to enhance production and add to reserves
Key Growth Projects to enhance current production and add to our reserve base… GOLDRUSH, NGM JV (61.5%) FOURMILE, Nevada (100%) PUEBLO VIEJO JV (60%) Ramping up to annual production >400,000oz Prefeasibility study decision by end 2024. Drill results Plant and TSF capacity expansions extend life of (
Slide 23: What is Barrick's True Value?
What is Barrick’s True Value?... Nevada Gold Mines - 2023 Gold Production (koz) Barrick Copper - 2023 Copper Production (Mlbs)12 The Largest Gold Complexi in the best Jurisdictionii globally A strong copper business with two large growth projects 3,033 2,798 Investment Attractiveness Reko Diq Line 2
Slide 24: Showcasing the unrealized value
Showcasing the unrealized value… Barrick Market Capi $30.5bn Analyst Consensus Market Based Implied NAVii P/NAV Multiple Valueiv Nevada Gold Mines (61.5% share) $13.2bn 1.68xiii $22.1bn Barrick Copper Assets (including Reko $8.0bn At Least 1.2xv At least $9.6bn Diq 50% share & Lumwana expansion) Com
Slide 25: Why invest in Barrick?
Why invest in Barrick? Unparalleled ability Best quality gold Sustainable growth to organically replace assets in the offered by current reserve depletion industry development projects Highest gold Partnership strategy Significant cash flow reserve grade ensures host country from operations amongst
Slide 26: Connect with us
BARRICK GOLD CORPORATION Corporate Office: TD Canada Trust Tower 161 Bay Street, Suite 3700 Toronto, Canada M5J 2S1 Tel: +1 416 861-9911 Toll-free throughout North America: 1 800 720-7415 Connect with us 26
Slide 27: Appendix A – Fourmile Significant Intercept Table and 2023 Mineral Resources
Appendix A – Fourmile Significant Intercept Tablei and 2023 Mineral Resourcesiv Select Fourmile Drill Results i. All intercepts calculated using a 3.40 g/t Au cutoff and are ii Core Drill Hole Azimuth Dip Interval (m) Width (m3iii Au (g/t) uncapped; minimum intercept width is 3.0m; internal dilution
Slide 28: Appendix B – Leeville Complex Production History
Appendix B – Leeville Complex (Leeville, Pete Bajo, Rita K) Production History Leeville (100% Basis) Pete Bajo (100% Basis) Rita K (100% Basis) Total Leeville Complex (100% Basis) Tonnes Head Gold Tonnes Head Gold Tonnes Head Gold Tonnes Head Gold Year Processed Grade Produced Year Processed Grade P
Slide 29: Appendix C – Greater Leeville Significant Intercept Table
Appendix C – Greater Leeville Significant Intercept Tablei plus 2023 Mineral Reserves and Mineral Resources i. All intercepts calculated using a 3.4 g/t Au cutoff and are uncapped; minimum Select Leeville Drill Results downhole intercept width is 2.4 m; internal dilution is less than 20% total width
Slide 30: Appendix E – Loulo Significant Intercept Table
Appendix E – Loulo Significant Intercept Tablei i. All intercepts are calculated using a 0.5 g/t Au cutoff and Drill Results includingiv (m) are uncapped; minimum intercept width is 2m; internal dilution is equal to or less than 2m total width. Width Target IDii Azimuth Dip From To Width (miii) Au (
Slide 31: Appendix F – Kibali Significant Intercepts
Appendix F – Kibali Significant Intercepts Core Drill Hole Azimuth Dip Interval (m) Width (m3) Au (g/t) Interval (m) Width (m3) Au (g/t) i. All intercepts calculated using a 0.5 g/t Au cutoff and are 222.30 - 232.00 9.7 3.35 227.55- 230.00 2.45 10.56 uncapped; minimum intercept width is 2 m; interna
Slide 32: Appendix G – Assumptions/Outlook
Appendix G – Assumptions/Outlook Key Outlook Assumptions 2024 2025 2026+ Gold Price ($/oz) 1,900 1,300 1,300 Copper Price ($/lb) 3.50 3.00 3.00 Oil Price (WTI) ($/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 33: Technical Information Endnotes
Technical Information The scientific and technical information contained in this presentation has been reviewed and approved by Craig Fiddes, SME-RM, Lead, Resource Modeling, Nevada Gold Mines; Richard Peattie, MPhil, FAusIMM, Mineral Resources Manager: Africa and Middle East; Simon Bottoms, CGeol,
Slide 34: Endnotes
Endnotes… 4. "Realized price" is a non-GAAP financial measure. "Realized price" excludes from the following from sales: treatment and refining charges and cumulative catch-up adjustment to revenue relating to our streaming arrangements. Barrick believes this provides investors and analysts with a mo
Slide 35: Endnotes
Endnotes… 10. “C1 cash costs” per pound and “All-in sustaining costs” per pound are non-GAAP financial measures. “C1 cash costs” per pound is based on cost of sales but excludes the impact of depreciation and royalties and includes treatment and refinement charges. “All-in sustaining costs” per poun