Barrick Gold : Tanzania Q4 2022 Media Day

Record production and long term value…

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 statements, other than statements of historical fact, are forward-looking statements. The words "on track", "guidance", "continue", "maintain", "will", "expected", "currently", "plan", "development", "opportunity", "transitioning", "potential", "advance", "extend", "focus", "being", "targets" and "trend" and similar expressions identify forward-looking statements. In particular, this presentation contains forward-looking statements including, without limitation, with respect to: Barrick's forward-looking production guidance; the status of North Mara and Bulyanhulu as a potential Tier One mine as a combined complex, including the potential for those mines to grow reserves net of depletion; North Mara's and Bulyanhulu's current projects, including planned operational and process plant improvements and the expected benefits of those projects; Bulyanhulu's future production profile; ongoing exploration work and potential mineralization, and crushing; closure activities at the Buzwagi mine; the performance and economic contribution of Twiga and future dividend payments; Barrick's joint venture with the Government of Tanzania; Barrick's partnership with the Tanzanian government and local agencies; Barrick's strategy, plans, targets and goals in respect of environmental and social governance issues, including health, safety and environmental accreditations, local training and development and procurement, Barrick's commitment to employing Tanzanian nationals, future investments in community projects and Covid-19 vaccine initiatives and disease prevention programs; the potential impact of local currency restrictions, inflation and taxation; and expectations regarding future price assumptions, financial performance and other outlook or guidance.

Forward-looking statements are necessarily based upon a number of estimates and assumptions, including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this presentation in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward- looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper or certain other commodities (such as silver, diesel fuel, natural gas and electricity); risks associated with projects in the early stages of evaluation and for which additional engineering and other analysis is required; risks related to the possibility that future exploration results will not be consistent with Barrick's expectations, that quantities or grades of reserves will be diminished, and that resources may not be converted to reserves; risks associated with the fact that certain of the initiatives described in this presentation are still in the early stages and may not materialize; changes in mineral production performance, exploitation and exploration successes; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; the speculative nature of mineral exploration and development; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with artisanal and illegal mining; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Tanzania or other countries in which Barrick does or may carry on business in the future; risks relating to political instability in certain of the jurisdictions in which Barrick operates; timing of receipt of, or failure to comply with, necessary permits and approvals; non-renewal of key licenses by governmental authorities; failure to comply with environmental and health and safety laws and regulations; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; the liability associated with risks and hazards in the mining industry, and the ability to maintain insurance to cover such losses; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; damage to Barrick's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to Barrick's handling of environmental matters or dealings with community groups, whether true or not; risks related to operations near communities that may regard Barrick's operations as being detrimental to them; litigation and legal and administrative proceedings; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, tailings dam and storage facilities failures, and disruptions in the maintenance or provision of required infrastructure and information technology systems; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; risks associated with working with partners in jointly controlled assets; risks related to disruption of supply routes which may cause delays in construction and mining activities; risks associated with Barrick's infrastructure, information technology systems and the implementation of Barrick's technological initiatives; the impact of inflation, including global inflationary pressures; risks related to competition in the mining industry; employee relations including loss of key employees; availability and increased costs associated with mining inputs and labor; and risks associated with diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic. Barrick also cautions that its guidance may be impacted by the ongoing business and social disruption caused by the spread of Covid-19. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this presentation are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this presentation.

Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

All currency figures are in USD unless otherwise noted.

Growing the Central-East African footprint…

		Kibali 45%
		DRC
DRC
	TANZANIA
ZAMBIA		North Mara 84%
			Bulyanhulu 84%
			TANZANIA

Lumwana

100%

ZAMBIA

Tier One1 gold mines

Potential Tier One gold complex

Copper mines

Closure project

CAR	South Sudan

Kibali

Uganda

Kenya

Rwanda North Mara

DRC	Burundi	Bulyanhulu

Buzwagi

Tanzania

500km

Highlights…

Significant progress at North Mara and Bulyanhulu since

Barrick assumed operational control in 2019

2017	2019	2019	2019	2020	2020	2020	2020	2021	2021
Acacia,	New Barrick	TWIGA	North	January	May	October	UG mining	Tanzanians	Buzwagi
Framework	Barrick	Maiden
formerly	buys out	Minerals	operations	appointed	prepares
African	minority	established	Mara	Agreement	pays first	interim	resume at	to	for
Barrick	shareholders	as a joint	mine	executed	$100	cash	Bulyanhulu	executive	closure
Gold,	and	venture	reopened	between	million of	dividend		positions of	and
loses	assumes	between	under	Barrick and	$300	of $250		Country	recertified
licence to	control of	Barrick and	new water	Govt. of	million	million		Manager &	under
operate in	Tanzanian	Govt. of	mgmt.	Tanzania	settlement	paid		GM North	ICMI
Tanzania	operations	Tanzania	plan					Mara	Cyanide
									Code

2021

First in

Africa

photon

assay

laboratory

at

Bulyanhulu



Combined production of +500Koz and achieves guidance

2022

Pays further

$40m, making a total payment of $140m of $300m settlement



Distributed

$261m to

shareholders

including $61m

dividend



North Mara named the largest taxpayer for 2021/22



Combined

production of

547koz

On a 100% basis

Overall economic contribution…

since Barrick assumed operational control in 2019

Total In-Country Investment 2019 to 2022

Barrick maintains its position as a key partner in the socio-economic development of Tanzania

National	In Country
Suppliers	Investment
USD 1,162 m	USD 2.411 Billion
48%

Salaries

USD 216 m

9%

Taxes, Royalty,

Levies &

Settlement

USD 935 m

39%

Dividend+Loan

Repayment

USD 98 m

4%

Barrick North Mara was recognized as the Largest Taxpayer in Tanzania for the year of 2021/2022

Total in-countryinvestment amounts to $2.4Bn since September 2019, when Barrick assumed operational

control from Acacia

Specific to FY2022, Barrick paid:

$261m in taxes, royalties and levies

$42m to the Government of Tanzania through dividends and shareholder loan repayments

$476m to national registered suppliers

80% of total spend is to local vendors and service providers, with 60% of total spend going to indigenous companies, surpassing our annual target of 50%​

96% Tanzanian workforce