Tanzania Maendeleo Fund Launch September 2011 Disclaimer This - PowerPoint PPT Presentation

African Barrick Gold in Tanzania Maendeleo Fund Launch September 2011

Disclaimer This presentation has been provided for information purpose only. It does not constitute an offer, solicitation or inducement to purchase, subscribe or otherwise acquire, sell, or dispose any securities of African Barrick Gold plc (“ABG”) or engage in any investment activity in connection with the capital of ABG in any jurisdiction. The information and opinions contained in this presentation are provided as of the date of this presentation and are subject to change without notice. ABG explicitly disclaims any responsibility, obligation or undertaking to revise any information contained in this presentation after its date, whether as a result of new information, future events or otherwise. No reliance may be placed for any purpose whatsoever on the information or the opinions contained in this presentation or on its completeness. In addition, this presentation contains information that has been has been extracted from a variety of sources released by public and private organisations. As far as ABG is aware and is able to ascertain from information published by such sources, no facts have been omitted which would render the reproduced information materially inaccurate or misleading. Individuals should refer to the primary source for further information in each case. This presentation may contain forward-looking statements. Forward-looking statements are statements that are not historical facts. They are generally identified by the words "plans," "expect," "anticipates," "believes," "intends," "estimates" and other similar expressions. All forward looking statements involve a number of risks, uncertainties and other factors. Although ABG’s management believes that the expectations reflected in forward-looking statements are reasonable, these statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of ABG, that could cause actual results and developments to differ materially from those expressed in ,or implied or projected by, the forward-looking information and statements contained in this presentation. Accordingly, individuals should not place reliance on forward-looking statements contained in this presentation and ABG explicitly disclaims any obligation or undertaking publicly to update or revise any forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise. All amounts are in US dollars unless expressed otherwise. 2

Overview of ABG  LSE listed gold mining company with Location of assets significant production and reserve base – 2010 production of 701 koz – Reserves and resources of 26.9 Moz 1  Four producing mines in Tanzania and significant land holdings North Mara  Growth driven by organic expansion projects Bulyanhulu Tulawaka and African consolidation opportunities Buzwagi – Targeting 1 Moz production by 2014 Dar es Salaam – Aiming to double production over 10 years  Experienced management team with strong operational track record  Successful IPO and FTSE index inclusion in 2010 Mining operations 1 Figure as at 31 December 2010 3

ABG in Tanzania  Presence in Tanzania for over 10 years Mine History 2006:Acquisition 2010: 1999: Purchased 2001: Bulyanhulu 2009: Buzwagi starts of Placer Dome Bulyanhulu from start of production ABG production (owner of North Sutton Resources created Mara mine) by Barrick. 1999 2000 2001 2004 2006 2007 2008 2009 2010 2004: Tulawaka 2000: Acquired 2010: start of Pangea Minerals Ltd Acquisition of commercial open Tusker Gold pit production

Public Market Leader  ABG has a market capitalization of approximately  Commitment to list on DSE  Barrick Gold retains 73.9% shareholding

ABG Contribution in 2010  In 2010 ABG added value of $548m in Tanzania (1) in wages and salaries, taxes and royalties, local and regional goods and services and community investment 1 Source: Barrick 2010 Responsibility Report

Tax Payer  In 2010 ABG paid in taxes and royalties

Employer  In 2010 ABG paid in wages and benefits to Tanzanians alone!

Employer  ABG currently employs over employees and contractors

Employer  Tanzanians currently form over of ABG’s workforce

Employees  Over $1 million invested per annum in skills development for existing employees  87 graduates undertaking our Graduate Training Program (at a cost of over $1 million per annum)  Local employment is a key expectation but a challenge due to rural illiteracy rates  149 (2) local community students receiving vocational training scholarships on the Integrated Mining & Technical Training Program (1) As at 30 June 2011 11 (2) As of May 2011

Host Communities: Key Initiatives  District health authorities  USAID Prevalence Rates HIV Malaria*  EnGender Health  Kagera 3.4 41.1 Population Services International  Mara 5.3 30.3 Malaria No More  Touch Foundation Mwanza 5.0 31.4  Volunteer Surgical Missions Shinyanga 7.6 29.5  SHIDEPHA and Bristol Myers Squibb  *Children of 6 – 59 months tested Red Cross  Bridge2Aid  Source: Tanzania HIV/AIDS and Malaria African Medical & Research Foundation Indicator Survey 2007-8 (preliminary report)  Search for Common Ground 12

Governance & Ethics  ABG fully supports the Extractive Industries Transparency Initiative in Tanzania  Barrick Gold Corporation joined the EITI in 2006  Tanzania became an EITI candidate country in 2009  In October 2010 ABG hosted a multi-stakeholder event for the EITI Board to further dialogue  ABG supports improved governance through the full publication and verification of government revenues generated by mining 13

ABG Approach to Community Investment  We are often asked to support a number of community based efforts, particularly in the context of health, education, environment, development & training  ABG intends to support such requests and programmes wherever practical, to enable the fulfilment of community development plans and objectives  We have adopted a specific Community Investment and Donations Policy for the assessment of requests for donations, sponsorship, partnerships or any other form of assistance  In addition to this Policy we have established: ‒ a Community Investment Committee to assist our Community Relations team with the management of our community investment and donation programmes ‒ a Community Investment Fund, the “MAENDELEO FUND”, for purposes of allocating funds to meet our community investment commitments 14

The Maendeleo Fund  Aggregate amount of USD$10 million per annum.  The purpose of the Fund is to enable ABG and each of its operations to appropriately fund community development plans and projects.  The allocation of Fund commitments between the following areas will be determined on an annual basis by ABG’s Committee Investment Committee: ‒ expenditure within the host communities around each of the ABG operations and projects ‒ ABG initiatives in relation to community development and improvement (i.e. initiatives in multiple areas such as surgical missions and other NGO partnerships) ‒ philanthropic donations and expenditure ‒ educational and training sponsorships to build capacity in the Tanzanian mining sector 15

The Maendeleo Fund cont...  The Maendeleo Funding priority will be given to programs that are: ‒ developed from participatory needs assessment and planning conducted in accordance with communities, government and other stakeholders; ‒ aligned with village and District development plans; ‒ prioritize mitigation of social impacts and risks; ‒ includes fulfilment of existing social obligations; ‒ leverages ABG’s core business and comparative advantage including in relation to infrastructure and existing facilities and services; ‒ maximizes inclusivity and minimizes dependency; and ‒ balances visible short-term projects with longer-term development programmes 16