Global Exploration Rob Krcmarov EVP Exploration and Growth - - PowerPoint PPT Presentation

Global Exploration

Rob Krcmarov EVP Exploration and Growth

• Investor Day | November 2018

5 out of the Top 10 Tier One Gold Assets (> 500 koz; > 10 year mine life; bottom half of cost curve)2

1. Source: Wood Mackenzie. Top Tier One Gold Assets are ranked by ‘Total Cash Cost’. “Total cash cost” is a non-GAAP financial performance measure with no standardized meaning under IFRS, and includes C1 cash cost, royalties, and other indirect costs. See Endnote #1. 2. A Tier One Gold Asset is a mine with a stated mine life in excess of 10 years with 2017 production of at least five hundred thousand ounces of gold and 2017 total cash cost per ounce within the bottom half of Wood Mackenzie’s cost curves tools (excluding state-owned and privately owned mines).. For additional information on “total cash costs per ounce”, see Endnote #1.

New Barrick Asset

Top 10 Global Tier One Gold Assets By Total Cash Cost1,2 (US$/oz) Unrivalled portfolio of Tier One Gold Assets for investors

$426 $482 $552 $578 $580 $621 $623 $649 $675 $697

Cortez (Barrick) Sukari (Centamin - 50%) Olimpiada (Polyus) Loulo-Gounkoto (Randgold - 80%) Cadia (Newcrest) Merian (Newmont - 75%) Pueblo Viejo (Barrick - 60%) Kibali (Randgold - 45%) Tarkwa (Gold Fields - 90%) Goldstrike (Barrick)

New Barrick

$0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 50 100 150 200 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Gold discovered 3 year average (000's oz)

Industry Exploration Spend (Au) New Barrick Discoveries

>1Moz deposits 3 year rolling average, SNL Mining and Metals, Barrick

New Barrick- Exploration Powerhouse

• Spent $4.36B on exploration2
• Overall finding cost ~$28/oz

Reserves (Moz of gold)1

Value Generation from Organic Growth

1990

DIVESTED

Total acquired

113

Total found through exploration 2017

35 20 172

Total mined

152

~78

113

NEW BARRICK1 1. See Endnote #1 2. Barrick Internal, Randgold Exploration expenditure source SNL

Strong credible track record

Acquired Added

Growth through organic discovery and post acquisition addition Low cost accretive value for Barrick

Lagunas Norte Goldstrike Cortez Pueblo Viejo Loulo Veladero Kibali Goldrush Turquoise Ridge Morila Alturas Massawa Gounkoto Tongon

Exploration value growth- impressive combination

1.73g/t 1.14 g/t 0.91g/t 0.7g/t

0.5 1 1.5 2

78 69 54 36

50 100

50 P&P Reserves2

(Moz) New Barrick1

Newmont Goldcorp Kinross

• 1. New Barrick post-merger attributable proven and probable gold mineral reserves figure as at year-end 31 December 2017, on a combined basis, after giving effect to the merger of Barrick and Randgold (as if it had closed on 31 December 2017). New Barrick reserve grade is

calculated using a weighted average of attributable year-end 31 December 2017 reserve grade from each of Barrick and Randgold. See Endnote #1

• 2. Source: company disclosure. Shown on an attributable basis. Reserve and grade data based on individual companies’ assumptions.
• 3. Peer Average grade figure is based on the published gold reserves and grade of Newmont, Goldcorp and Kinross referred to in footnote #2 and is calculated on a weighted average basis.

P&P Reserve Grade 2

(g/t) Goldcorp Newmont Kinross

1.03

Peer Avg.

New Barrick1

2017 Peer Reserves and Grades- New Barrick

El Indio Belt Central Chile

Porgera Fimiston

South West US Superior Craton Northern Andes Congo Tanzanian Craton Birimian Shield Guiana Shield Western Cordillera

• Operating presence in

world’s most prolific gold districts

• Focused brownfields in

Tier one districts

• Balanced with early

stage exploration in emerging prospective districts

• Gold deposits and high

grade copper-gold porphyries Extensive land positions in many of the world’s prolific gold districts

* Past Production + Reserves+ Resources as reported, source SNL and Barrick

Operating Districts Exploration Focus Areas

Exploration Strategy

*Reserves and Resources stated at 100% basis, see Randgold company site for breakdown

Morila Yalea Tongon Kibali Massawa Loulo - Gounkoto

Discovery

1996 1997 1998 1998 2007 2008

Type

Folded metamorphosed sediments in contact with batholith.

• Metasediments. Lower

amphibolite facies. Quartz ± ankerite vein lodes, disseminated sulfide stringer, highly altered shears Gold Skarn Basaltic-andesitic crystal tuffs in greenstone belt Greenstone/BIF Volcano sedimentary with ironstone chert

• horizons. Greenschist

metamorphism Intermediate volcaniclastics, sedimentary Rocks, Felsic intrusives Shear zone hosted, fine grained sedimentary sandstone with rare limestone

Gold Production Statistics 6.6 Moz

produced since 2000 2017 Production 70Koz Loulo Satellite

1.74 Moz

produced since 2010 2017 Production 288Koz

2.4 Moz

produced since 2013 2017 Production 596Koz _

5.6 Moz

produced since 2005 2017 Production 730Koz

2017 Gold Reserves* 0.19 Moz

(0.56g/t, 11M tonnes) Probable Reserves _

1.2 Moz

(3.2g/t, 16M tonnes) Proven Reserves: 0.49 Moz (2.2g/t,7M tonnes) Probable Reserves: 0.74 Moz (2.5g/t, 9.3M tonnes)

8.7 Moz

(4.1g/t, 66M tonnes) Proven Reserves: 2.5 Moz (4.1g/t,19M tonnes) Probable Reserves: 6.2 Moz (4.1g/t, 47M tonnes)

2.7 Moz

(3.6g/t, 23M tonnes) Probable Reserves Gounkoto: 3 Moz (4.6g/t, 20M tonnes) Proven Reserves: 0.78 Moz (3.9g/t,6.1M tonnes) Probable Reserves: 2.2 Moz (3.9g/t, 14M tonnes) Loulo: 5.2 Moz (4.5g/t, 36M tonnes) Proven Reserves: 1.6 Moz (4.2g/t, 12M tonnes) Probable Reserves: 3.6 Moz (4.7g/t, 24M tonnes)

Current Status

Production Production (Loulo complex) Production Production Feasibility Study Production (Loulo Complex)

Track Record: West Africa

Reserves and Resources stated at 100% basis, December 2017 except for CH Underground.

• Approximate accumulated historic production
• 1. As disclosed in Technical Report on the Cortez Joint Venture Operations, Lander and Eureka Counties, State of Nevada, U.S.A., dated March 21, 2016, and filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov on March 28, 2016.

Goldstrike South Arturo Cortez Hills Underground Goldrush Fourmile

Discovery

1986 2005 2006-2008 2011 2018

Carlin type

~600Koz Au Reserves at time of acquisition (1986) Sulphidized/oxide dissolution breccia hosted Carlin type mineralization Structurally controlled, sulphidized breccia and replacement mineralization. Stratiform, lithological control, replacement style Carlin type mineralization Sulphidized dissolution breccia hosted Carlin type mineralization

Prod. Statistics

~49Moz produced to date* 2Moz pro roduced 201 016 6 and 20 2017 17 ~250Koz pro roduced 201 016 6 and 20 2017 17 ~990Koz pro roduced 201 016 6 and 20 2017 17

• 2017

Reserves/ Resources

Reserves ~8.4 Moz Au (3.8g/t, 67.9M tonnes) Resources MI ~1.5 Moz Au (5.2g/t, 9.5M tonnes) Inf ~400Koz Au (8.2g/t, 1.5M tonnes) Reserves ~510Koz Au (2.9g/t, 5.3M tonnes) Resources MI ~570Koz Au (1.1g/t, 15.8 tonnes) 2016 Reserves1 ~4.3 Moz Au (10.7g/t, 12.3M tonnes) 2016 Resources1 MI ~770Koz Au (8.9g/t, 2.6M tonnes) Inf ~460Koz Au (10.8g/t, 1.3M tonnes) Reserves ~1.5 Moz Au (8.1g/t, 5.6M tonnes) Resources MI ~9.3Moz Au (9.2g/t, 31M tonnes) Inf ~2.3Moz Au (8.2g/t, 8.8 M tonnes) N/A Maiden resource expected 2019

Current Status

OP – UG Production OP Production UG Production UG Permitting Exploration (UG target)

Track Record: Great Basin, Nevada

RESERVE AND RESOURCE DEFINITION EXPLORATION TARGETS

IDENTIFIED GEOLOGICAL TARGETS

South America North America Partnerships Africa & Arab Peninsula

18 11 12 2 13 4 16 7 2 8 19 13 4 4 1 13 13 5 1 5 11 15

MI Resources Identified Targets Advanced Targets Inferred Resources Reserve Definition Follow-up Targets

2 3 7 13 5 3 9 12 8 7 10 27 3 2 3 3 5 2 2 9 4 24 16

KCGM – Australia1 Jabal Sayid – KSA Zaldivar – Chile1 Lumwana – Zambia Feasibility Projects Goldrush – USA Mines Barrick Nevada – USA Turquoise Ridge – USA Golden Sunlight – USA Hemlo – Canada Pueblo Viejo – Dom. Rep. Lagunas Norte – Peru Veladero – Argentina Porguera – PNG1 Mines Morila – Mali Loulo – Mali Tongon – Cote d’Ivoire Gounkoto – Mali Kibali – DRC Feasibility Projects Massawa - Senegal

TOTAL 376 84 66 55 42 55 74

Senegal Mali Cote d’Ivoire DRC

1 Mines included under “Partnerships”

Strength in Combining Extensive Exploration Portfolios

RESERVE AND RESOURCE DEFINITION EXPLORATION TARGETS

IDENTIFIED GEOLOGICAL TARGETS

MI Resources TOTAL 376

South America North America Rest of World Africa

Mines Barrick Nevada – USA Turquoise Ridge – USA Golden Sunlight – USA Hemlo – Canada Pueblo Viejo – Dominican Rep. Lagunas Norte – Peru Veladero – Argentina Zaldivar – Chile Morila – Mali Loulo – Mali Tongon – Cote d’Ivoire Gounkoto – Mali Kibali – DRC Lumwana – Zambia Porguera – PNG KCGM – Australia Jabal Sayid – KSA Feasibility Projects Goldrush – USA Massawa – Senegal

18 11 12 2 13 8 20 7 2 8 19 13 4 16 15 14 13 5 11 21 11 15 76 42 Identified Targets Advanced targets Inferred Resources Reserve Definition Follow-up targets 84 66 55 42 55 74

Strength in Combining Extensive Exploration Portfolios

Future Exploration Declines

Goldrush2 N

Detail follows

• Continued success with infill and step-out drilling
• Emerging parallel trend along Blasdel Fault

Fourmile1

Goldrush Fourmile

Red Hill

FM18-40D * 3.4m @ 12.5 g/t 1.4m @ 60.9 g/t GRC18-01 * 3.5m @ 9.3 g/t

A A’

1. See Appendix A for additional details including assay results for the significant intercepts 2. Probable Reserves: 1.5 Moz (5.7 Mt @ 8.1 g/t); Measured Resources: 47 Koz (0.1 Mt @ 10.4 g/t); Indicated Resources: 9.4 Moz (31.3 Mt @ 9.3 /t) 3. Fourmile Project drilling shown on the Goldrush-Fourmile Trend; drilling testing the favorable host lithology shown in the Blasdel Trend; select Goldrush hole shown

Probable Reserves2 M&I Resources2 High grade intercepts (Au >5 g/t)3 No significant intercept Open mineralization

* approximate location

Goldrush Camp – Continued Growth

Siltstone/mudstone/ greenstone package Sandstone/mudstone package Host limestone Massive limestone

A A’

Plan View

Goldrush Fourmile

LEGEND Gold > 5 g/t3 Breccia Fault Roberts Mtns Thrust Fault

Fourmile1 Blasdel

300 Meters

FM18-40D2 3.4m @ 12.5 g/t 1.4m @ 60.9 g/t FM18-50D2 7.6m @ 75.6 g/t

1. See Appendix A for additional details including assay results for the significant intercepts 2. Approximate location 3. Fourmile Project drilling shown on the Goldrush-Fourmile Trend; drilling testing the favorable host lithology shown in the Blasdel Trend; select Goldrush hole shown

Blasdel – New Trend, Same Architecture

FM18-24D 22.9m @ 16.5 g/t FM18-23D 2.6m @ 125.3 g/t 4.7m @ 19.9 g/t 10.5m @ 9.3 g/t FM18-30D 39.3m @ 25.6 g/t 8.1m @ 18.8 g/t

500 Meters

Goldrush project Fourmile project

N

Goldrush Footprint

Grade Thickness (gram*meter) Plan at 5200 Level3 < 25 25 - 100 100 - 249 250 - 499 500 - 1755 Goldrush2 Open mineralization

FM18-50D 7.6m @ 75.6 g/t FM18-47D 4.6m @ 60.9 g/t

1. See Appendix A for additional details including assay results for the significant intercepts 2. Goldrush Probable Reserves: 1.5 Moz (5.7 Mt @ 8.1 g/t); Measured Resources: 47 Koz (0.1 Mt @ 10.4 g/t); Indicated Resources: 9.4 Moz (31.3 Mt @ 9.3 /t) 3. Only Fourmile Project drilling shown

FM18-49D 20.4m @ 54.1 g/t FM18-52D 25.9m @ 34.6 g/t 21.3m @ 30.2 g/t

Fourmile – Q3 Select Significant Intercepts1

Kibali Underground Opportunities LOM Design 3000, 5000 and 9000 lode opportunities

KCD Pushback 3 330koz $1000/oz design Sessenge open pit 300koz $1000/oz design KCD open pit PB#1 North 3000 Lode up plunge extension PB#2 1.9Mt @ 2g/t (100koz) UG – 2.1Mt @ 4.97g/t (335koz) Ave drill intersection 17.1m @ 11.2g/t 5000 Lode down plunge 7Mt @ 5.82g/t (1.36Moz) 9000 Lode up plunge extension Sessenge Link 3.7Mt @ 2.61g/t (345koz)

Total Current Potential – 2.14Moz

New assays intersection 8.5m @ 5.3g/t Drill holes planned

Long-section with Q3 drilling

Proposed ADGC Drilling High Priority Targets Conceptual Targets (New) Proposed Exploration Drilling

Purple Patch

YaDH92 12.3m @ 15.88g/t TW YDH280 3.8m @ 6.0g/t TW YDH281 4.3m @ 1.39g/t TW YDH282 11.4m @ 6.39g/t TW YaDH88 21.7m @ 8.83g/t TW YaDH86 17.3m @ 25.2g/t TW YaDH80 4.3m @ 32.21g/t TW YaDH68 8m @ 10.01g/t TW 1000m 100m 280m

Yalea North targets

Yalea Transfer Zone (15 drill holes) Size: 500m strike x 100m VD

• Wt. Av. Grade: 13.3g/t (range 5.7 to 19.9g/t)
• Av. Thickness: 11.4m (range 2.4 to 21.7m)

Conversion and Exploration Target Summary: Yalea FW Panel (15 drill holes) Size: 1000m strike x 280m VD

• Wt. Av. Grade: 4.1g/t (range 0.14 to 8.41g/t)
• Av. Thickness: 5.3m (range 2.5 to 11.4m)

Yalea Central Deep

extra ounces

Yalea Transfer Zone

extra ounces

Conversion Shoot target

N

500m

>8g/t 4 - 8g/t 4 – 3g/t 3 – 2g/t 2 - 0.7g/t Gold g/t

Yalea...460 Koz at +11 g/t added to mine plan

KZ Structure… pipeline of projects reinforces prospectivity

Kalimva-Ikamva upside: At Ikamva Northwest, evidence of western extension of mineralised system associated with fold hinges - supported by lithosamples of up to 11.5g/t Kombokolo, Gorumbwa, Pakaka down plunge: Potential for adding resources for UG mining under review Ndala-Gawa trend: 6km gap interpreted to be related a NW thrust front similar to Pakaka-Mengu trend, with lithosamples up to 8g/t and auger results confirming anomalism KZ South: Zakitoko-Birindi-Zambula: Steep shear over 15km strike

• length. Boudinaged system and high grade zones (+3g/t),

lithosamples up to 8.51g/tAindi SW Auger defined 2.4km anomaly in saprolite up to 0.97g/t Kobu (east of Zakitoko), lithosamples returned up to 5.9g/t confirming mineralisation associated with quartz vein stockwork

Kalimva Ikamva Watsa Dome Matiko Shear sub-parallel to foliation, planar/plunging shoots of mineralisation Plunging shoots

• n the shear

Thrust plane mineralisation Azambi Zambula Hotel Dembu Ndala-Gawa Ndala North Ndala Village Oere Gorumbwa Kombokolo KCD Zakitoko

N

5km

147Moz (2015)

>30Moz added through exploration, <5 years

117Moz (2010)

• Exploration at similar stage to

West Africa 15 years ago

Guiana Shield – West Africa

Underexplored western continuation of West African Birimian Growing endowment through successful exploration Barrick has been active since 2014 with 2 investments thus far

Reunion Gold Partnership… Guiana Shield Experts

Producer Pre-producer Past-producer

• Strong management with proven track

record of discovery

• Barrick placement (15%), with ROFR
• n any current or new projects

generated

• Dorlin
• Drilling to validate and grow historic

resources

• Geophysics to expedite targeting
• Waiamu

– Vein swarms reminiscent of Rosebel – Multiple, km scale gold in soil anomalies – Drilling commenced

• Explore world’s most prolific districts
• Focused brownfields in Tier 1 districts and around operating mines
• Great Basin Nevada, Andes, West African Craton, DRC-Tanzania Craton
• Mineral Resource Management Group to continue to convert discoveries into
• ptimized value
• Balanced with early stage exploration in emerging prospective districts
• Guiana Shield
• Canada
• High grade copper gold porphyries
• Copper opportunities in our operating districts that meet our criteria
• Targeting Gold deposits and high grade copper-gold porphyry systems

Exploration strategy

21

Appendix A – Fourmile Significant Intercepts1

1. All intercepts calculated using a 5 g/t Au cutoff and are uncapped; minimum intercept width is 0.8 m; internal dilution is less than 20% total width 2. Fourmile drill hole nomenclature: FM (Fourmile) followed by the year (18 for 2018) or GRC (Gold Rush Core) with no designation of the year 3. True width of intercepts are uncertain at this stage 4. FM18-02 updated from “no significant intercepts” due to pending results The drilling results for the Fourmile property contained in this presentation have been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral

• Projects. All drill hole assay information has been

manually reviewed and approved by staff geologists and re-checked by the project

• manager. Sample preparation and analyses are

conducted by an independent laboratory. Procedures are employed to ensure security of samples during their delivery from the drill rig to the laboratory. The quality assurance procedures, data verification and assay protocols used in connection with drilling and sampling on the Fourmile property conform to industry accepted quality control methods. Drill Results from Q3 2018 Core Drill Hole2 Azimuth Dip Interval (m) Width (m)3 Au (g/t)

FM18-02D 251

• 82

741.0 - 742.5 1.5 5.38 FM18-08D 348

• 82

743.4 - 746.1 2.7 20.4 FM18-13D 180

• 85

653.8 - 661.6 7.8 19.4 718.8 - 720.2 1.4 6.4 FM18-19D 683 - 686.4 3.4 6.8 204

• 84

734.4 - 736.1 1.7 6.4 925 - 929.3 4.3 18.8 FM18-23D 52

• 80

778.9 - 781.5 2.6 125.3 951.3 - 956 4.7 19.9 1021.5 - 1032.0 10.5 9.3 1038.1 - 1039.6 1.5 6.5 FM18-24D 294

• 76

675.1 - 676.6 1.5 6.0 710.5 - 712.0 1.5 17.8 714.7 - 737.6 22.9 16.5 740.7 - 746.8 6.1 6.5 FM18-25D 305

• 64

744.2 - 745.6 1.4 32.7 776.5 - 786.5 10 17.2 842.3 - 843.1 0.8 37.0 844.3 - 845.2 0.9 6.7 FM18-26D 100

• 85

639.9 - 643 3.1 86.4 653.6 - 658.5 4.9 12.5

22

Appendix A – Fourmile Significant Intercepts1

1. All intercepts calculated using a 5 g/t Au cutoff and are uncapped; minimum intercept width is 0.8 m; internal dilution is less than 20% total width 2. Fourmile drill hole nomenclature: FM (Fourmile) followed by the year (18 for 2018) or GRC (Gold Rush Core) with no designation of the year 3. True width of intercepts are uncertain at this stage The drilling results for the Fourmile property contained in this presentation have been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral

• Projects. All drill hole assay information has been

manually reviewed and approved by staff geologists and re-checked by the project

• manager. Sample preparation and analyses are

conducted by an independent laboratory. Procedures are employed to ensure security of samples during their delivery from the drill rig to the laboratory. The quality assurance procedures, data verification and assay protocols used in connection with drilling and sampling on the Fourmile property conform to industry accepted quality control methods. Drill Results from Q3 2018 Core Drill Hole2 Azimuth Dip Interval (m) Width (m)3 Au (g/t)

FM18-26D 100

• 85

639.9 - 643 3.1 86.4 653.6 - 658.5 4.9 12.5 666.8 - 671.8 5 26.1 734.7 - 737.8 3.1 12.3 747.5 - 750.7 3.2 15.1 797.2 - 804.8 7.6 20.8 832.1 - 833.5 1.4 23.8 FM18-28D 129

• 86

696.8 - 699.8 3 7.1 719.6 - 739.4 19.8 9.5 774.5 - 776 1.5 9.6 FM18-30D 160

• 80

712.5 - 751.8 39.3 25.6 798 - 800 2 69.9 846.9 - 855 8.1 18.8 FM18-40D 97

• 78

908 - 911.4 3.4 12.5 913 - 914.4 1.4 60.9 FM18-41D 90

• 81

no significant intercepts > 5 gpt Au FM18-45D 215

• 87

913.2 - 914.6 1.4 6.2 FM18-46D 194

• 82

no significant intercepts > 5 gpt Au FM18-47D 151

• 83

627.3 - 628.8 1.5 5.9 772 - 776.6 4.6 60.9 779.5 - 781.3 1.8 11.7

23

Appendix A – Fourmile Significant Intercepts1

1. All intercepts calculated using a 5 g/t Au cutoff and are uncapped; minimum intercept width is 0.8 m; internal dilution is less than 20% total width 2. Fourmile drill hole nomenclature: FM (Fourmile) followed by the year (18 for 2018) or GRC (Gold Rush Core) with no designation of the year 3. True width of intercepts are uncertain at this stage The drilling results for the Fourmile property contained in this presentation have been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral

• Projects. All drill hole assay information has been

manually reviewed and approved by staff geologists and re-checked by the project

• manager. Sample preparation and analyses are

conducted by an independent laboratory. Procedures are employed to ensure security of samples during their delivery from the drill rig to the laboratory. The quality assurance procedures, data verification and assay protocols used in connection with drilling and sampling on the Fourmile property conform to industry accepted quality control methods. Drill Results from Q3 2018 Core Drill Hole2 Azimuth Dip Interval (m) Width (m)3 Au (g/t)

FM18-49D 84

• 86

921.1 - 922 0.91 16.8 957.7 - 978.1 20.4 54.1 FM18-50D 307

• 82

913.8 - 921.4 7.6 75.6 926.9 - 928.1 1.2 9.5 FM18-52D 62

• 83

873.1 - 899 25.9 34.6 935.6 - 956.9 21.3 30.2 GRC18-01 106

• 73

307.4 - 310.9 3.5 9.3

24

1.The potential combined gold reserves figure of 78 million ounces (rounded to the nearest million) is an aggregate of the gold Mineral Reserves reported at US$1200/oz by Barrick in its annual information form for the year ended 31 December 2017 (comprising attributable proven gold Mineral Reserves of 398 million tonnes, at a grade of 1.91 grams/tonne, containing 24 million ounces and attributable probable gold Mineral Reserves of 896 million tonnes, at a grade of 1.39 grams/tonne, containing 40 million ounces, for aggregate attributable proven and probable gold Mineral Reserves of 1,295 million tonnes, at a grade of 1.55 grams/tonne, containing 64 million ounces) and the gold Ore Reserves reported by Randgold at US$1000/oz in its annual report for the year ended 31 December 2017 (comprising total proved gold Ore Reserves of 44 million tonnes, at a grade of 3.78 grams/tonne, containing 3.5 million attributable ounces and total probable gold Ore Reserves of 128 million tonnes, at a grade of 3.78 grams/tonne, containing 10 million attributable ounces, for aggregate total proven and probable gold mineral reserves of 172 million tonnes, at a grade of 3.78 grams/tonne, containing 14 million attributable ounces). The assumptions on which the Mineral Reserves for Barrick are reported are set out in Barrick’s annual information form published on 23 March 2018 and available from www.barrick.com/investors/agm/. The assumptions on which the Ore Reserves for Randgold are reported are set out in Randgold’s annual report published on 29 March 2018 and available from www.randgoldresources.com/annual- reports-listing. The Barrick Mineral Reserves have been prepared according to Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) 2014 Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Randgold Ore Reserves have been prepared according to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves standards and guidelines, published and maintained by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and the Minerals Council of Australia (the “JORC (2012) Code”). Randgold has reconciled the reported Ore Reserves to the CIM 2014 Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and there are no material differences. The Barrick tonnage and grade figures are reported on an attributable basis and the Randgold tonnage and grade figures are reported on a total basis. The Barrick Mineral Reserves are reported using US$1200/oz except for Kalgoorlie, which uses A$1600/oz and Bulyanhulu, North Mara and Buzwagi which use US$1100/oz and the Randgold Ore Reserves are reported using US$1000/oz, except for Kibali KCD open pit, which uses an US$1100/oz pit design. As a result, the respective Mineral Reserves and Ore Reserves of Barrick and Randgold may not be directly comparable. The potential combined reserves should be treated as forward looking statements and are subject to change under differing gold price assumptions.

Endnotes

• The following qualified persons, as that term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects, have reviewed and approved the relevant scientific and technical

information contained in this presentation: Rob Krcmarov, Executive Vice President Exploration and Growth of Barrick and Rick Sims, Registered Member SME, Senior Director, Resources and Reserves

• f Barrick.
• The technical and scientific information contained in this presentation in respect of Randgold has been reviewed and approved for release by Simon Bottoms and Rodney Quick, Randgold’s Qualified

Person as defined by National Instrument 43-101 –Standards of Disclosure for Mineral Projects

Technical Information