Slide 1: Results for Q1 2024
BARRICK NYSE : GOLD TSX : ABX World class mines. World class people. 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 our strategy, projects, plans or future financial or operating performance, constitutes “forward-looking statements”. All statements,
Slide 3: Health & Safety
Health & Safety… Total Recordable Injuries 56 Roll out of the Fatal Risk Management programme 54 Lost Time Injury (LTI) and Total Recordable 52 Injury (TRI) and associated frequency rates1 decreased by 17% in Q1 compared to the 50 -17% same period for 2023 48 10 operating sites were lost time injury
Slide 4: Leader in Sustainability
84% 730ha Leader in Sustainability Water reuse & recycle rate - exceeding target for Planned rehabilitation for 2024 Q1 2024 75% 100MW 16MW 72 Avoided emissions Phase 1 solar array Solar array project Additional white rhinos to through Power commissioned at TS at Kibali gold mine be relocated to Gar
Slide 5: Group Highlights
Group Highlights… For the first quarter of 2024 Focus on gold and copper production growth amplifies profitability in rising commodity market $0.17 143% y/y ■ On track to achieve targets as Pueblo Viejo and Net earnings per share Porgera ramp up ■ Another significant contribution from copper portf
Slide 6: Group Operating Results
Group Operating Results… Peer-leading Tier One4 asset portfolio continues Gold operating results Q1 2024 Q4 2023 Q1 2023 to create value Attributable production (koz) 940 1,054 952 Seasonal maintenance and mine plan Cost of sales ($/oz)5 1,425 1,359 1,378 sequencing results in lower Q1 production Hi
Slide 7: Group Financial Results
Group Financial Results… Financial Results Q1 2024 Q4 2023 Q1 2023 Strong balance sheet that can support ongoing Revenue ($ million) 2,747 3,059 2,643 expansion projects and provide shareholder returns Net earnings ($ million) 295 479 120 Adjusted net earnings 333 466 247 Strong operating cash flows
Slide 8: North America
North America… Ramp-up at the Goldrush underground expected to progressively increase each Donlin quarter over 2024 following the receipt of (50%) Record of Decision late in Q4 2023 CANADA Focus shifts to Fourmile on the back of Goldrush success - exploration extends Hemlo beyond brownfields targets
Slide 9: Nevada Gold Mines operating results
Nevada Gold Mines… operating results Nevada Gold Mines (61.5%) Q1 2024 Q4 2023 Q1 2023 Carlin Ore tonnes processed (000) 6,779 9,155 7,367 ■ Delivered on plan for the quarter and is on track for the year Average grade processed (g/t) 2.51 2.08 2.37 ■ Goldstrike autoclave production increased on high
Slide 10: Nevada Gold Mines drilling continues to increase footprint and grow resources
Nevada Gold Mines… drilling continues to increase footprint and grow resources Jerritt Canyon Turquoise Carlin Turquoise Ridge Ridge Twin Creeks Greater Leeville – drill results continue Turquoise Ridge deposit – Step-out to close the gap between Miramar and drilling continues to expand the Fallon z
Slide 11: Nevada…Geological model updates driving growth
Nevada…Geological model updates driving growth 2023 Geological Model – Turquoise Ridge 2024 Geological Model – Turquoise Ridge A Comus Upper Comus Middle A’ A Comus Upper Comus Middle North Pillow Basalt North Pillow Basalt Interpreted District Scale Fold Comus Comus Lower A’ BSF Lower BSF Current R
Slide 12: Latin America & Asia Pacific
Latin America & Asia Pacific… Pueblo Viejo completes conveyor rebuild with throughput now ramping up ECUADOR Reko Diq INDIA (50%) Land for new solar power plant secured and design underway to add additional power to the energy mix. PAKISTAN, Balochistan Porgera produces first gold on February 23, wi
Slide 13: Pueblo Viejo
Pueblo Viejo… Dominican Republic Pueblo Viejo (60%) Q1 2024 Q4 2023 Q1 2023 Ore tonnes processed (000) 1,382 1,345 1,377 ■ Pueblo Viejo plant expansion and mine life extension to increase throughput to 14Mt p.a. and to sustain Average grade processed (g/t) 2.33 2.64 2.22 gold production at >800,000o
Slide 14: Pueblo Viejo expansion
Flotation recovery and mass pull optimization through dosing system Pueblo Viejo… upgrades and incorporating froth cameras Milling system improvement with new SAGi operation strategy and expansion automation Maximizing feed to autoclave by introducing flexibility in the circuit Ramp up to continue i
Slide 15: Africa & Middle East
Africa & Middle East… Consistent strong performance from Loulo- Jabal Sayid 50% Gounkoto gold mine in Mali EGYPT SAUDI ARABIA MALI Lumwana copper mine in Zambia - feasibility SENEGAL study for Super Pit expansion on track for Loulo- Kibali 45% completion at year end – long-lead orders Gounkoto 80% D
Slide 16: Loulo-Gounkoto Gold Mine
Loulo-Gounkoto Gold Mine… Loulo-Gounkoto (80%) Q1 2024 Q4 2023 Q1 2023 Mali Ore tonnes processed (000) 1,059 1,013 1,006 Average grade processed (g/t) 4.47 4.31 4.69 Gold production for Q1 was 11% higher than prior quarter with higher grades Recovery rate (%) 93 % 91 % 91 % processed, higher through
Slide 17: Loulo-Gounkoto Yalea long section
Loulo-Gounkoto… Yalea Structure Long Section: Looking E BKRC002i : BKRC004i : Yalea Deeps extension North +3.2km Yalea System (Open) (1) 18m @ 1.66g/t (2) 7m @ 1.00g/t (1) 11m @ 1.23g/t (2) 3.75m @ 5.42g/t First holes targeting potential for large scale extensions and/or BKRC001i : repetitions of ma
Slide 18: Kibali Gold Mine
Kibali Gold Mine… Kibali (45%) Q1 2024 Q4 2023 Q1 2023 DRC Ore tonnes processed (000) 925 911 880 Average grade processed (g/t) 2.85 3.50 2.55 ■ Gold production down 18% quarter on quarter on planned lower grades as Pamao and Recovery rate (%) 89 % 90 % 88 % Gorumbwa open pits transitioned to tempor
Slide 19: Kibali drill results show significant resource potential
Kibali… drill results show significant resource potential Plan map of ARK corridor Agbarabo-Rhino Agbarabo-Rhino-Airbo-Kombokolo (ARK) - high grade results and Thickness (m) Au g/t significant interceptsi : encouraging observations from multiple drill holes highlight the potential ADD0025: 22.8m @ 3
Slide 20: North Mara and Bulyanhulu Gold Mines
North Mara and Bulyanhulu Gold Mines… Tanzania North Mara (84%) Q1 2024 Q4 2023 Q1 2023 North Mara Gold produced (oz 000) 46 59 68 Q1 production 22% lower quarter on Cost of sales ($/oz)5 1,678 1,420 987 quarter in line with the mine plan Total cash costs ($/oz)6 1,339 1,103 759 Q1 total cash costs
Slide 21: Lumwana copper mine Zambia
Lumwana copper mine… Zambia In Q1 a planned shutdown and lower grades processed resulted in 33% lower quarter on Lumwana (100%) Q1 2024 Q4 2023 Q1 2023 quarter production Copper produced (tonnes 000)ii 22 33 22 Higher grades expected in Q2 2024 and onwards Cost of sales ($/lb)5 3.41 2.95 3.56 C1 cas
Slide 22: Global Brownfields and Greenfields exploration creates opportunities for new discoveries
Global Brownfields and Greenfields exploration creates opportunities for new discoveries… Saudi Arabia Nevada - Permitting Umm ad Damar - framework drill milestone achieved at program confirms presence of copper Mali Robertson rich VMS systems Deep drilling programs at Jamaica – Fourmile accelerates
Slide 23: Renewable-based power strategies and Nature Action
Renewable-based power strategies and technology Nature Action is underpinned by biodiversity drive higher efficiencies and lower costs preservation, conservation and restoration Garamba National Park – 15 years of support including elephant collaring, reintroduction of white rhino and infrastructure
Slide 24: 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 25: 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 25
Slide 26: Appendix A – Cortez Hanson Significant Intercept Table
Appendix A – Cortez Hanson Significant Intercept Tablei i. All intercepts calculated using a 3.42 g/t Au cutoff and are CHUG Hanson Q1 2024 Drill Results uncapped; minimum intercept width is 1.4m; internal dilution Core Drill Hole Azimuth ii Dip Interval (m) Width (m)iii Au (g/t) is less than 20% to
Slide 27: Appendix B - Greater Leeville Significant Intercept Table
Appendix B - Greater Leeville Significant Intercept Tablei Select Leeville Drill Results i. All intercepts calculated using a 3.4 g/t Au cutoff and are uncapped; minimum downhole intercept width is 3.0 m; internal Core Drill Holeii Azimuth Dip Interval (m) Widthiii (m) True Widthiii (m) Au (g/t) dil
Slide 28: Appendix B cont. – Rita K Significant Intercept Table
Appendix B cont. – Rita K Significant Intercept Tablei i. All intercepts calculated using a 3.4 g/t Au cutoff and are Select Rita K Drill Results uncapped; minimum downhole intercept width is 3.0 m; internal Core Drill Holeii Azimuth Dip Interval (m) Widthiii (m) True Widthiv (m) Au (g/t) dilution i
Slide 29: Appendix B cont. – North Turf (Miramar) Significant Intercept Table
Appendix B cont. – North Turf (Miramar) Significant Intercept Tablei Select Leeville Drill Results i. All intercepts calculated using a 3.4 g/t Au cutoff and are uncapped; minimum downhole intercept width is 2.4 m; internal Core Drill Holeii Azimuth Dip Interval (m) Width (m) True Widthiii (m) Au (g
Slide 30: Appendix C – Turquoise Ridge Significant Intercept Table
Appendix C – Turquoise Ridge Significant Intercept Tablei i. All intercepts calculated using a 3.4 g/t Au cutoff and are Select Turquoise Ridge Drill Results uncapped; minimum intercept width is 1m; internal dilution is Down-hole Modelled True less than 20% total width. Core Drill Holeii Azimuth Dip
Slide 31: Appendix D – Loulo–Gounkoto Significant Intercept Table
Appendix D – Loulo–Gounkoto Significant Intercept Tablei Loulo Gounkoto Significant Drill Interceptsi i. All intercepts are calculated using a 0.5 g/t Au cutoff and Drill Results from Q1 2024 iv including (m) are uncapped; minimum intercept width is 2m; internal dilution is equal to or less than 2m
Slide 32: Appendix E – Kibali Significant Intercept Table
Appendix E – Kibali Significant Intercept Tablei Select Kibali Drill Interceptsi i. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; Core Drill Widthiii Widthiii minimum intercept width is 2 m; internal dilution is equal to or less than Azimuth Dip Interval (m) Au (g/t) Interval
Slide 33: Endnotes: Technical Information
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. A Tier One Gold Asset is an asset with a $1,300/oz reserve with potential for 5 million ounces to support a minimum 10-year life, annual production of at least 500,000 ounces of gold and with all-in sustaining costs per ounce in the lower half of the industry cost curve. A Tier One Copp
Slide 35: Endnotes
Endnotes… 10. "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 m