Barrick Gold : Mali Q3 2021 Media Day Presentation

Mali

Delivering value through strong local partnerships

Media briefing…October 2021

1

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", "continued", "focus", "aim", "preventative", "plan", "development", "opportunity", "trialed", "potential", "upside", "promising", "test", "target", "further", "extend", "underway", "goals" and "objectives" 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; Loulo-Gounkoto's current projects, including potential extensions to the life of mine, and the expected benefits of those projects; ongoing exploration work and potential mineralization, including at the Bambadji joint venture; mineral reserve and mineral resource replacement at the Loulo-Gounkoto complex; the ramp-up of production from the new Gounkoto underground mine; ongoing studies at Loulo-Gounkoto; expected operational improvements due to improved monitoring and analysis; engagement with the Malian government with respect to artisanal and illegal mining; Barrick's partnership with the Malian government and Barrick's strategy, plans, targets and goals in respect of environmental and social governance issues, including future investments in community projects and Covid-19 vaccine initiatives and disease prevention programs; 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 Mali 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; 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 in this presentation may be impacted by the unprecedented 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.

Our Global Business…

In April 2020, Porgera was placed on care and maintenance. Porgera's ownership is subject to change pursuant to the framework agreement signed with the government of Papua New Guinea on April 9, 2021

Delivering on Q3 business plan…

No LTIsi or major environmental incident recorded during Q3

Loulo-Gounkoto on track to deliver on production guidance and replace annual depletion with reserve growth for the year extending mine life further

Successful Covid-19 vaccination campaign continues with more than 38% of employees vaccinated and a total of 335 people vaccinated in the surrounding communities

Human rights assessment and training completed during Q3

Gounkoto - successfully ramping up ore extraction at third underground mine

Focus on local talent development continues - individuals from Kenieba trained and employed to operate key equipment at new Gounkoto underground mine

Embarked in the International Cyanide Management Institute (ICMI) certification in line with world class mining standards

Continued investment in host communities included building water reticulation system at Sakola village

Graduation ceremony held for first cohort of local business accelerator program graduates - next rollout in progress

Annual sustainability report workshop held at Kenieba to strengthen stakeholder engagement in communities

Continued investment in-country with year-to-date contributions of $318 million to the Malian economy in the form of dividends, royalties and taxes

Brownfields exploration returns promising results at Yalea Ridge and Faraba targets

1. Loss time injury frequency rate (LTIFR) is a ratio calculated as follows: number of loss time injuries (LTI) x 1,000,000 hours divided by the total number of hours worked

Safety, health and environment…

Safety

No LTIs recorded in Q3 2021

Mines remain ISO 45001:2018 Safety Management System certified

Proactive management of health and safety risks under the guidance of strong safety leadership to decrease injury rates at all mine sites

Environment

No major environmental incident recorded during Q3 2021 ISO 14001:2015 certification maintained

Continual improvement in freshwater intensity

7,675 MWh of energy injected into the grid from the solar power plant - 1.77 million litres of heavy fuel oil and 5,221t of CO2 saved during Q3 2021

AEDDi interested in inserting power from Loulo solar farm into Mali grid as part of national CO2 reduction strategy

102ha rehabilitated this year with more than 18,000 trees planted FINA Park Reserve conservation program continues

Year on Year LTIFR/Million Hours Worked

1.40
1.20
1.00
0.80
0.60
0.40
0.20
0.00	2012	2013 2014	2015	2016 2017	2018	2019 2020 Up to
												Q3-21
		Water Intensity per Tonne Ore Milled
	0.70
	0.60
m3/t	0.50
0.40
0.30
	0.20
	0.10
	-	2012 2013 2014 2015 2016 2017 2018 2019 2020	Q1- Q2- Q3-
		2021 2021 2021
		0.6	0.4	0.3	0.3	0.3	0.3	0.1	0.2	0.2	0.2	0.22	0.19

1. Agence de l'Environnement et du Développement Durable