Slide 1: North Mara and Bulyanhulu Mines
North Mara and Bulyanhulu Mines May 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 Barrick's strategy, projects, plans, or future financial or operating performance, constitutes "forward-looking statements". All statem
Slide 3: About Tanzania
ABOUT TANZANIA: Melkiory Ngido…Country Manager 3
Slide 4: Re-establishing Barrick in Tanzania
Re-establishing Barrick in Tanzania… We regained our social License to Operate (LTO) through the Twiga partnership with the Government of Tanzania and delivering on our promises Established a proper grievance resolution mechanism to reduce and close outstanding grievances (land and environmental) in
Slide 5: Key Milestones
Key Milestones… 2024 Q1 Gold Price US$/oz Buly: Special Mining 2,500 License renewed – 25 2021 H1 2021 H2 years. 1,235 km2 added to North Mara Bulyanhulu exploration portfolio (NM) (Buly) Completion of 25km conversion 2,000 Looking forward Water Treatment drilling added 2019 Plants 1.1Moz of reserve
Slide 6: Central East African Footprint
3 World Class Terrains Central East African CAR South Sudan Footprint… Kibali 45% Kibali DRC North Mara 84% Uganda East African Craton - TANZANIA Bulyanhulu 84% Lake Victoria Goldfields Kenya highly prospective North Mara global setting for gold Lumwana 100% Rwanda mining and exploration ZAMBIA Buru
Slide 7: Health and Safety Performance
Health and Safety Performance… Safety Twiga 2020 - 2024 YTD TRIFR1 2 One fatal incident in Q1 2024 attributed to energy isolation at North Mara 1.79 1.63 1.45 Implementation of Fatal Risk management programs and critical control 1.5 1.39 1.17 verifications by sectional leadership 1 Driving positive
Slide 8: Overall Economic Contribution since Barrick assumed operational control in 2019
Overall Economic Contribution since Barrick assumed operational control in 2019 Total In-country Investment 2024 Q1 Total local spend at 84% and Indigenous company5 spend 2019 – Q1 2024 at 76% (34% in 2019 when Barrick Dividend $158m assumed operational control) 5% Taxes, Royalties, 372 Indigenous c
Slide 9: Supporting our Communities Since 2019
Supporting our Communities Since 2019… Charities & donations to Orphanages Other Community Engagements Economic 3% Development 8% Road Infrastructure Bugarama Health Centre 26% $14.1m Education Water & 3% Power 4% Kharumwa School Wheelchair Donation Health 21% 9
Slide 10: Support National Education Vision
Support National Education Vision… Barrick’s Future Forward Educational Project Pledged $30 million towards the construction of a 1,090 classrooms, 1,640 ablution blocks and 270 dormitories across 161 schools nationwide, helping to accommodate at least 49,000 additional pupils of A-levels, largely g
Slide 11: North Mara's Focus on Economic and Business Opportunities for the Community
North Mara’s Focus on Economic… and Business Opportunities for the Community Matongo Agribusiness Project Local Business Development Program Initiated by North Mara in 2021 to foster economic diversification, A landmark project in Agribusiness (horticulture) implemented in business linkages, enhance
Slide 12: North Mara: Strengthening our License to Operate
North Mara… Strengthening our License to Operate Friends of North Mara Programme Strengthening Relations Through Women Platforms The mine has launched an initiative called “Friends of North 11 women platforms established in each of the 11 villages Mara Programme” targeting school-girls and boys surr
Slide 13: North Mara: Transforming the Community
North Mara… Transforming the Community Water Project Education and Health Improvements North Mara in partnership with Rural Water Supply and Sanitation Investments in Education and Health Sectors are key Agency (RUWASA) in Tarime district - completed water supply project with storage tank capacity o
Slide 14: Buzwagi Special Economic Zone and Barrick Academy
Buzwagi Special Economic Zone and Barrick Academy The Barrick Academy, was opened at the closed Buzwagi mine on 18 March 2024 and is expected to train more than 2,000 foremen, supervisors and superintendents from the Africa and Middle East region over the next 24 months On 21 March 2024 the newly co
Slide 15: Malenge Irrigation Scheme: Part of Buzwagi Mine Closure Plan
Malenge Irrigation Scheme… Part of Buzwagi Mine Closure Plan 500Mt warehouse and processing facility Part of 50Tonnes/Day rice processing Dam is filled approx. 1.5 million m3 facility 1.2km dam and farms 15
Slide 16: Strengthening our License to Operate: CDC as a key platform
Strengthening our License to Operate… CDCi as a key platform North Mara CDC Structure CDC Chairperson (Ward councillor/MGM) CDC Secretary CDC (WEO) Secretary(CRM) Water, Health, Economic and Land and Sports and Environment Social Infrastructure Entertainment and Education Development Committee Commi
Slide 17: Recognition and awards received in 2023
Recognition and awards received in 2023… Employer of the Year by the Association of Tanzania Employers (ATE) and Overall Private Sector Employer Best Corporate Social Responsibility (North Mara mine) Excellence in Crisis Management (Bulyanhulu mine) The Best Large Organization Employer of the Year (
Slide 18: North Mara Gold Mine
NORTH MARA GOLD MINE: Apolinary Lyambiko…General Manager Jan Jacobs…Operations Manager 18
Slide 19: North Mara
North Mara… Gokona UG Gena North Mara Gold Mine Pit is a complex consisting of: Gokona Pit and Underground Gena Pit Rama Pit Plant, camp and Tailings Storage Facility NM Camp 13km haul road connecting Gokona and Gena with Rama and the Process Plant TSF Rama Pit Surrounded by 11 villages Plant 19
Slide 20: North Mara 2024 Outlook: Delivering On Our Business Plan
North Mara 2024 Outlook… Delivering On Our Business Plan 2024 Production (Koz) On track to achieve gold production guidance in 2024 (230-260kozi) Q2 Production to increase in H2, in line with mine plan Q1 Paste plant project is expected to be fully commissioned in July H1 H2 2024 - releases UG stope
Slide 21: North Mara Cost and Efficiency Trends
North Mara Cost and Efficiency Trends… Delivering On Our 2024 Business Plan Underground (UG): UG Tonnes & Costs Continuous improvements year on year in both tonnes and development UG Ore Tonnes Mined (Kt) 2023 reflects higher maintenance and diesel cost, 2024 costs to trend lower Costs ($/t Mined)6
Slide 22: Key Project: Gokona Boxcut
Key Project…Gokona Boxcut Gokona Boxcut: New portal on east mine to enable mining of the Gokona cutback in 2025 Boxcut completion: Q2 2024 Decline development completion: Q1 2025 Gokona cutback to commence: Q2 2025 22
Slide 23: Key Project: Water Treatment Plant
Key Project…Water Treatment Plant Water treatment plant Brine/Salt treatment plant Water Management Expanded water treatment facility to increase capacity from 2.5Ml/day to 40Ml/day Reduced the Tailings Storage Facility (TSF) pool size to an average of 50,000m3 (below the design capacity of 800,000m
Slide 24: Key Project: Tailings Storage Facility Dewatering
Key Project: Tailings Storage Facility Dewatering 24
Slide 25: Key Project: Paste Backfill Plant
Key Project…Paste Backfill Plant Paste Plant: Paste filling primary stope voids underground required to unlock future underground stopes Construction currently 91% complete Paste plant commissioning to commence in June 2024 Full production expected during Q3 2024 25
Slide 26: North Mara 10-Year Life of Mine Production Profile
North Mara 10-Year Life of Mine Production Profilei… 350,000 Production – OP Ounces Production – UG Ounces 300,000 250,000 200,000 150,000 100,000 50,000 0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 The owner miner transition for the open pit was successful and will add further long-term
Slide 27: Bulyanhulu Gold Mine
BULYANHULU GOLD MINE Victor Lule…General Manager 27
Slide 28: Bulyanhulu General Overview
Bulyanhulu General Overview… Located approximately 55km south of Lake Victoria and 155km from Mwanza city in north-western Tanzania Situated in both Msalala District Council, under the jurisdiction of Kahama District, Shinyanga region and Nyang'hwale District, Geita Region Operates under a Special M
Slide 29: Taking a closer look at Bulyanhulu
Taking a closer look at Bulyanhulu... Construction started in 1999 and was commissioned in March 2001 UPPER WEST UPPER EAST BOXCUT SHAFT BOXCUT – REEF 2 Supporting infrastructure include Underground mine (decline and shaft) and associated facilities Process Flotation and CILi circuits, NAMBA 9 Aggre
Slide 30: Bulyanhulu 2024 Outlook
Bulyanhulu 2024 Outlook… delivering on our 2024 business plan Production (Koz) 2024 gold production on track to achieve guidance (160-190 kozi) Focus on mining compliance and volumes mined to continue to Q2 delivering on grade and throughput, whilst building flexibility in our plan Q1 Implement high
Slide 31: Bulyanhulu Cost and Efficiency Trends
Bulyanhulu Cost and Efficiency Trends… Delivering on our 2024 Business Plan Underground: Driving efficiency by continue bogging during shift change, while supporting UG Tonnes & Costs world class safety practices. UG Tonnes Mined (Kt) Costs ($/t Mined)6 Implementation of dilution control in stopping
Slide 32: Glycine Project and Benefit
Glycine Project and Benefit… Glycine Pilot Plant Glycine Mixing system 32
Slide 33: Glycine leaching technology
Glycine leaching technology (GLT) uses glycine and cyanide Cyanide and Glycine Consumption (kg/t) 15 Glycine leaching technology (GLT) Consumption (kg/t) Glycine - non-toxic, recyclable and biodegradable 10 amino acid (food additive) Combined with low cyanide levels 5 GlyCat (Gylcine) technology pil
Slide 34: Bulyanhulu LOM Production Profile
Bulyanhulu LOM Production Profilei… 250,000 Production - Ounces 200,000 150,000 100,000 50,000 0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Plan Update: Profile Improvement Opportunities Under Review: 2024 Capital Added Upper West Reef 1 and Upper East Reef 2 declines unlocking ounces Eq
Slide 35: Growth
GROWTH Richard Peattie…Mineral Resources Manager, AME Gary Hurst…Regional Geologist, East Africa 35
Slide 36: Lake Victoria Goldfields Overview
Gokona-Gena Lake Victoria Goldfields Overview Lake Victoria North Mara Rama Mara Belt Maji Moto The North Mara gold operation and Bulyanhulu Mine are located within the Lake Victoria Goldfields (LVGF) of Buhemba Tanzania Highly prospective terrain that’s underexplored, geologically comparable global
Slide 37: Resource triangle
Resource triangle… Gena Rama Mines Feasibility projects Gokona UG Reef 1 Reef 2 Reserve definition Feasibility projects and Measured & indicated Gatsby reserve and resource resources Gokona West definition Inferred resources Gena East Upper West Advanced targets Exploration Follow up Reef 2F targets
Slide 38: Mara Belt: extensive discovery potential
Mara Belt…extensive discovery potential preserved beneath late volcanic cover Widespread discovery potential Tagota Gokona along strike from Gokona-Gena Complex Corridor and Rama within underexplored Volcanic highly prospective belt scale cover corridors Volcanic Large areas of the SE Mara belt cove
Slide 39: North Mara Restoring Growth to a World Class Asset
North Mara Restoring Growth to a World Class Asseti… Moz Au Gokona 4.0 Airstrip Gena 3.0 Camp 2.0 3.6 3.5 3.4 TSF 2.4 1.0 2.1 Rama 0.0 Processing 2019 2020 2021 2022 2023 2024 facilities 1km P&P Mineral Reserve Gold Moz Produced Prior to 2019 North Mara (Gokona-Gena-Rama) had been high graded with a
Slide 40: North Mara: Geologically Driven Growth
North Mara…Geologically Driven Growth Gokona Model Evolution Before 2019 2020 Jan 2021 October 2021 July 2021 October 2023 …….2024 Continuous geological model review of the Gokona, Gena, and Rama deposits facilitating exploration has resulted in 66% growth in total proven and probable reserves since
Slide 41: Focused Reserve Expansion Resulting in 66% Growth
Focused Reserve Expansion Resulting in 66% Growthi… 2019 Final Pit 2019 EOY 2019 2023 EOY 2023 $1,300 Pit Gokona Gena Final Pit 2019 2023 $1,300 Pit Depleted Stopes Final Pit Eastern OP potential And Infrastructure Gokona western extension Ounce Classification Indicated 2019 UG Inferred 2023 UG Gena
Slide 42: Gokona-Gena System Growth Opportunities
Location map Gokona-Gena System Growth Opportunitiesi N Fault offset & volcanic cover preserves opportunity at depth & along strike Section Gokona West down Extensive Au anomalism & alteration 1 shifted +300m vertically 2 in shallow drilling- downshifted block, 5km with potential target at depth WNW
Slide 43: Bulyanhulu Inlier to Siga
Bulyanhulu Inlier to Siga… Mostly covered by lake sediment overburden and largely undrilled Ngula Bulyanhulu Inlier Multiple satellite Ndalilo opportunities identified Historic exploration at Bulyanhulu focused on near- Belt adjacent to <10km of Bulyanhulu mine. The structural corridor is under-expl
Slide 44: Bulyanhulu Disciplined Execution Delivering a Reliable Plan
Bulyanhulu Disciplined Execution Delivering a Reliable Plan 2019 Reef 1 Acquisition Model 2023 Reef 1 Model Upper West 2019 model based on flawed wide spaced >200m data Since 2019, over 321km of drilling has been added to Reef 1 defining new extensions at depth and near surface (including Upper West
Slide 45: Geotechnical focus for safe and deliverable underground mining
Geotechnical focus for safe and deliverable underground mining… Geotechnical modelling and seismic data collection supports re- optimization of mining sequence and pillar layout resulting in 30% reduction in predicted seismicity at depth. Old Pillar Layout Historic predicted seismicity New Pillar La
Slide 46: Bulyanhulu Mine Grade Performance
Bulyanhulu Mine Grade Performancei Leading the way with a new world class photon assay laboratory at Bulyanhulu provides more accurate analysis and reduces costs, our environmental impact and safety risks – a first in Africa 10 8 6 Model changes based on infill drilling and geotechnical constraints
Slide 47: Bulyanhulu: Revitalizing a Misunderstood Asset
Bulyanhulu…Revitalizing a Misunderstood Asseti Moz Au Basalt Basalt Magnetic 6.0 Felsic Tuff Argillite 5.0 QFP Porphyry Current mine shaft Gabbro 4.0 Granite Reef 1 3.0 Reef 2 New Upper Fault West Boxcut Axial Trace 2.0 4.1 3.3 3.0 2.7 2.4 Proposed 1.0 Upper East Boxcut 0.0 2019 2020 2021 2022 2023
Slide 48: Production Flexibility Through Near Surface Opportunities
Production Flexibility Through Near Surface Opportunities Reef 1 Upper West Boxcut Far West extension potential Reef 2 West Reef 2 Upper East Maximize plant capacity (~1.3-1.4Mtpa) by ramping up underground development to Boxcut access more ore sooner Current plan incorporates two new box cut portal
Slide 49: Tanzania Combined 10-Year Life of Mine Production Profile
Tanzania…Combined 10-Year Life of Mine Production Profilei Bulyanhulu UG Ounces North Mara UG Ounces North Mara OP Ounces 550,000 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Tier One7 Production Profile in Ta
Slide 50: Technical Information
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 51: Appendix A – North Mara Historical Total Mineral Reserves
Appendix A – 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 $1,200/oz North Mara 1.3
Slide 52: Appendix B – North Mara Historical Production
Appendix B – North Mara Historical Productioni Based on 100% basis: Gold Recovery Year Tonnes Milled (kt) Head Grade (g/t) Produced (%) (oz) 2019 2 476 4,46 335 132 92.9 2020 3 036 3,43 308 840 92.4 2021 3 218 3,3 309 530 90.5 2022 3 250 3,31 313 296 91 2023 3 403 3,02 301 598 91.6 Total 15 382 3,58
Slide 53: Appendix C – Outlook
Appendix C – Outlook Key Outlook Assumptions 2023 2024 2025+ Gold Price ($/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 54: Appendix D – Bulyanhulu Historical Total Mineral Reserves
Appendix D – Bulyanhulu Historical Total Mineral Reservesi Proven Probable Total Tonnes Grad Tonnes Grad Tonnes Grad Based on 100% Basis e Contained ozs e Contained ozs e Contained ozs Year Gold Price Assumption Project (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) 2019 $1,200/oz Bulyanhulu
Slide 55: Appendix E – Bulyanhulu Historical Production
Appendix E – Bulyanhulu Historical Productioni Based on a 100% Basis Tonnes Milled Head Grade Gold Produced Year Recovery (%) (kt) (g/t) (oz) 2019 - - - - 2020 93 9.04 22,705 84.5 2021 787 8.95 211,599 93.4 2022 996 7.78 233,279 93.6 2023 1,048 6.65 213,629 95.4 Total 2,924 7.99 681,212 93.7 i. On S
Slide 56: Appendix F – North Mara Significant Intercepts Table
Appendix F – North Mara Significant Intercepts Tableii Select North Mara Drill Results from 2023/2024 i. All intercepts calculated using a 1.0 g/t Au cutoff and are uncapped; minimum intercept width is 5.0m; significant Width intercepts are required to have overall internal dilution less than Core D