Barrick Gold : Kibali Q4 2021 Media Day

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Kibali delivers another stellar performance…

Kinshasa, January 2022

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, other than statements of historical fact, are forward-looking statements. The words "believe", "expect", "strategy", "target", "plan", "opportunities", "guidance", "outlook", "on track", "assume", "intention", "project", "goal", "continue", "additional", "expand", "establish", "budget", "estimate", "potential", "prospective", "future", "focus", "during", "ongoing", "following", "subject to", "scheduled", "may", "will", "can", "could", "should" and similar expressions identify forward-looking statements. In particular, this presentation contains forward-looking statements including, without limitation, with respect to: Barrick's focus on Tier One Assets and Strategic Assets and its potential for growth while delivering sustainable returns; Barrick's forward-looking production guidance; estimates of future costs and projected future cash flows, capital, operating and exploration expenditures and mine life and production rates; Barrick's strategy, plans, targets and goals in respect of environmental and social governance issues, including greenhouse gas emissions reduction targets and associated initiatives; Barrick's engagement with local communities to manage the Covid-19 pandemic; Barrick's global exploration strategy and planned exploration activities; our pipeline of high confidence projects at or near existing operations; potential mineralization and metal or mineral recoveries; our ability to convert resources into reserves; joint ventures and partnerships; 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 the Company 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 the Company'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; 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 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 the Company's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company's handling of environmental matters or dealings with community groups, whether true or not; uncertainty whether some or all of Barrick's targeted investments and projects will meet the Company's capital allocation objectives and internal hurdle rate; litigation and legal and administrative proceedings; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with artisanal and illegal mining; the ability of management to implement its business strategy and enhanced political risk in certain jurisdictions; whether benefits expected from recent transactions being realized; business opportunities that may be presented to, or pursued by, the Company; 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. 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.

We disclaim 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.

We are building a business for the long-term with sustainable future growth…

Our vision is to be the world's most valued gold mining business by finding, developing and operating

the best assets with the best people to deliver the best returns, on a sustainable basis, to our owners and partners. We are committed to partnering with our host countries and communities to transform their natural resources into tangible benefits and mutual prosperity

Best Assets			+	Best People
Focus on Tier One1 gold mines and	A strong and experienced
Strategic Assets2 , key growth projects	management team leading at a flat,
as well as unlocking value through	operationally focused and agile
exploration potential from our extensive	organizational structure
land positions in prolific gold districts
=
	Best Sustainable Returns

Disciplined approach to growth, emphasizing long-term value for all stakeholders through increased returns, driven by a focus on return on capital, internal rate of return and free cash flow3

Emphasis on efficiency, cost reduction and strong cash flow generation to fund robust investment Industry leader in G&A cost efficiency

Taking ESG to the next level…

THE PRIMACY OF PARNERSHIPS

We invest in real partnerships with mutual responsibility - we must be a trusted long term partner to our stakeholders to be sustainable

LICENCE

TO

OPERATE

WE PRIORITISE

LOCAL HIRING

AND BUYING

We build the skills and capacity of host country workers and vendors to multiply our positive impact on local, regional and national economies

TRANSPARENT ENGAGEMENT AND DIALOGUE

We believe the most effective community engagement is managed and delivered at the local level - provides a forum for the resolution of community grievances and to discuss the risks and opportunities linked to our mines in a fair and open manner

Open and transparent engagement and dialogue from mine planning and environmental stewardship to economic development and tax payments

2021 Highlights…

Kibali achieves production guidance producing 812,152oz of gold in 2021

Set for reserve replacement net of depletion for third successive year , maintaining +10yr life of mine as a Tier 1 operation

Dividend of $170 million paid to shareholders in Q4 - Barrick, AngloGold Ashanti and SOKIMO - bringing total distribution for the year to $200 million

Working with Congolese authorities on a program to release cash for the repayment of offshore loans No lost time injuries (LTIs) or significant environmental incidents recorded for Q4

In partnership with the DRC health authorities, 5,847 Covid-19 vaccines administered - to date 43% of the workforce are fully vaccinated with a further 14% having received one dose

Design work for AZMET Cyanide destruction plant commenced in Q4 and on track to achieve International Cyanide Management Institute (ICMI) accreditation

CTSF 2nd lift on track using waste rock material - supported by local contractor with 72% of construction completed to date

Investment in Multilite implementation for remote stope bogging enabled operation of loaders from the surface control room - operated fully by local Congolese workforce

Pipeline from KCD dam to process plant completed to recycle and reduce water abstraction from the Kibali river Machine learning implemented in all hydro generators to determine failure prediction signatures