THIRD QUARTER CONFERENCE CALL OCTOBER 25, 2012

Management Participants

2

Chuck Jeannes

President and

Chief Executive Officer

Lindsay Hall

EVP & Chief Financial

Officer

George Burns

EVP & Chief Operating

Officer

Forward Looking Statements

This presentation contains “forward-looking statements”, within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Goldcorp Inc. (“Goldcorp”). Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver, copper, lead and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, timing and possible outcome of pending litigation, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Goldcorp to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, silver, copper, lead and zinc; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes; delays in obtaining governmental approvals or financing or in the completion of development or construction activities and other risks of the mining industry, as well as those factors discussed in the section entitled “Description of the Business – Risk Factors” in Goldcorp’s annual information form for the year ended December 31, 2011 available at www.sedar.com. Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Goldcorp does not undertake to update any forward-looking statements that are included in this document, except in accordance with applicable securities laws.

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All amounts are in U.S. dollars, unless otherwise stated.

Third Quarter Highlights

• Production of 592,500 ounces

• By-product cash costs1 - $220/oz; co-product1 $660/oz

• Revenues totaled $1.5B

• Operating cash flow2 totaled $687M

• Adjusted net earnings3 totaled $441M

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1See Footnote (b) 2See Footnote (c) 3See Footnote (a)

Operational Highlights

• Red Lake de-stress slot at 45 level completed

• Drilling of water wells underway at Peñasquito

• Pueblo Viejo achieves first gold production

• Project pipeline advancing steadily

Internal studies under review – Cochenour, Camino Rojo and

Noche Buena

• Added to the Dow Jones Sustainability North

America Index

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PUEBLO VIEJO (2012)

CERRO NEGRO (2013)

COCHENOUR (2014)

ÉLÉONORE (2014)

Robust Development Pipeline

6

MARLIN (2006)

LOS FILOS (2008)

PEÑASQUITO (2010)

CAMINO ROJO (2014)

NOCHE BUENA

CERRO BLANCO

AGUA RICA

PEÑASQUITO UG

S C O P I N G

F E A S I B I L I T Y

P R O D U C T I O N

C O N S T R U C T I O N

S C O P I N G

F E A S I B I L I T Y

P R O D U C T I O N

C O N S T R U C T I O N

EL MORRO

RED LAKE / PORCUPINE / MUSSELWHITE / EL SAUZAL / ALUMBRERA / MARIGOLD / WHARF

El MORRO U/G

(US$) as at Sept. 30, 2012

INVESTMENT GRADE BALANCE SHEET1

Financial Position - Excellent Liquidity

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1 Moody’s: Baa2; S&P: BBB+; Fitch: BBB. 2 Includes money market instruments, non-GAAP measure

CASH & CASH

EQUIVALENTS2

AVAILABLE DEBT

FACILITY - UNDRAWN

CONVERTIBLE SENIOR

NOTES - DUE 2014

$894 M

$2.0 B

$862.5 M

~$2.9 B LIQUIDITY

$0.62 $0.56

$0.80

$1.43

$2.22

2007 2008 2009 2010 2011

61.5

65.0 66.7

75.3

80.4

2007 2008 2009 2010 2011

CASH FLOW / SHARE3,5

EARNINGS / SHARE4,5

(US$ / share)

(US$ / share)

3 Cash flow before changes in working capital (from continuing operations as applicable). 4Adjusted earnings per share. 5Non-GAAP financial measures see pages 29-95 of the 2011 Annual report for further details.

2012 Guidance

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20121

Updated Guidance

Gold Production (koz) 2,350 - 2,450

- Red Lake (koz) 460 - 510

- Peñasquito 370 - 390

Cash Costs $/oz – By-product

– Co-product

$310 - $340

$625 - $650

Capital Expenditures $2.7 B

Exploration Expenditures $226 M

Tax Rate 28%

1 2012 price assumptions: Au=$1600/oz, Ag=$34/oz, Cu=$3.50/lb, Zn=$0.90/lb, Pb=$0.90/lb

Operational Highlights

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Operational Highlights

• Production of 592,500 ounces

• Red Lake 2012 H2 grade increase over 2012 H1

• Strong performance at Peñasquito

• First gold produced Pueblo Viejo

• Growth projects steadily progressing

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Solid Quarterly Production, Advancing Growth Projects

Red Lake - Canada

• Gold production of 121,200 oz

• Completed de-stress on Level 45

Increased number of mine headings available in HGZ

• Successful exploration drilling

Results continue to confirm the extension of the HGZ at depth

High grade intercepts down to the 57 level

NXT zone between the 47 and 52 level

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Long-Life, Cornerstone Asset

Historic Deep Intercept* 4.31 oz/4.8’

Current 4699 Ramp Development

Drill Bay #22

View Looking NE

57L

52L

47L

1.08oz/4.8’

2.42oz/4.5’

1.83oz/3.5’

0.87oz/10.0’

1.64oz/3.5’

NXT Zone

4.65oz/1.0’ *

7.31oz/2.0’ *

0.41oz/1.2’

0.15oz/1.7’

0.58oz/3.2’

New Intercept* 17.24/2.5’

3.87oz/6.6’

2.86oz/12.3’

Planned drift

2.44oz/21.8’

0.43oz/6.6’

*Note some intercepts may appear to intersect lower elevation than they actually are due to oblique view **Selected intercepts are shown

Closing the gap – up dip potential

Red Lake - High Grade Zone Drilling

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Peñasquito - Mexico

• Q2 gold production 126,000 oz

• Drilling of additional water wells in well field continues

• Study ongoing for longer term water solution

• Waste Conveyor system on track for commissioning in Q4’12

• Internal studies completed during Q3’12

Camino Rojo

Noche Buena

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Mexico’s Largest Gold Producer in 2012

Pueblo Viejo - Dominican Republic

• Construction essentially completed, first gold poured

• Major systems commissioned

• >16Mt of ore stockpiled

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New Source of Gold Production

Cerro Negro - Argentina

• EPCM activities 46% complete

• Eureka vein

Ramp advanced to a length of 1,962 metres

Stockpile over 25,000 tonnes

• Mariana Central and Mariana Norte ramps steadily

progressing

• Successful exploration drilling

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Building the Next Cornerstone Mine

Cochenour - Canada

• Development plan update under management review

• Shaft depth at 423 metres

• Haulage Drift advanced to 60% complete;

Expecting 66% by year-end

Two drills testing exploration potential

• Surface exploration with two drills targeting

further resource growth

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Key Growth Driver in Red Lake District

Éléonore - Canada

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Canada’s Next New Underground Gold Mine

• Gaumond exploration shaft excavation completed

• Exploration ramp advanced to over 2,000 metres in length

• Production shaft

Infrastructure advancing

Underground collar complete

Full-face shaft sinking expected late 2012

• Exploration Drilling

Two drills in the ramp with two more to be added in Q4

Surface exploration continuing

DELIVERING RESULTS 18

Q3 2012 Highlights

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Q3 2012 Q2 2012 Q3 YTD 2012 Q3 YTD 2011

Revenues ($ million) 1,538 1,113 4,000 3,847

Realized gold price ($/oz) $1,685 $1,596 $1,664 $1,538

Cash costs by-product ($/oz) (b) 220 370 277 209

Margin by-product ($/oz) (d) $1,465 $1,226 $1,387 $1,329

Cash costs co-product ($/oz) (b) 660 619 645 535

Cash flows from Operations ($ million) 434 554 1,310 1,639

Cash flows from Operations before

NCWC ($ million) (c) 687 520 1,687 1,861

Capital expenditures ($ million) 669 630 1,889 1,256

Q3 2012 Operational Highlights

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Q3 2012 Q2 2012 Q3 YTD 2012 Q3 YTD 2011

Gold production (oz) 592,500 578,600 1,695,800 1,826,800

Gold sales (oz) 617,800 532,000 1,695,500 1,805,200

Net earnings ($ million) 498 268 1,245 1,476

Adjusted net earnings ($ million) (a) 441 332 1,177 1,255

Adjusted net earnings per

share ($ per share) (a) 0.54 0.41 1.45 1.56

Condensed Statement of Cash Flows

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($ million) Q3 2012 Q2 2012 Q3 YTD 2012 Q3 YTD

2011

Operating activities

Operating cash flow before change in working capital (c) 687 520 1,687 1,861

Change in non-cash working capital (253) 34 (377) (222)

Cash provided by operating activities of

continuing ops 434 554 1,310 1,639

Investing activities

Expenditures and deposits on mining interests (669) (630) (1,889) (1,256)

Interest paid (8) - (17) (17)

Purchase of securities - (3) (17) (154)

Sale of securities - 10 283 519

Repayment on capital invested in PV - - - 64

Other 2 3 13 (6)

Cash used in investing activities of continuing

ops (675) (620) (1,627) (850)

Cash (used in) provided by investing activities of

disc. ops - - 5 (88)

Financing activities

Common shares issued, net 23 3 32 470

Dividends (109) (110) (328) (239)

Cash (used in) provided by financing activities (86) (107) (296) 231

Goldcorp Advantage

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SUPERIOR INVESTMENT PROPOSITION

GROWTH LEADER

LOW COST PRODUCER

OUTSTANDING

BALANCE SHEET

LOW POLITICAL RISK

RESPONSIBLE

MINING PRACTICES

Footnotes

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a) Adjusted net earnings and adjusted net earnings per share are non-GAAP performance measures. The Company believes that, in

addition to conventional measures prepared in accordance with GAAP, the Company and certain investors use this information to

evaluate the Company’s performance. Accordingly, it is intended to provide additional information and should not be considered

in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Refer to page 42 of the 2012 third

quarter MD&A for a reconciliation of adjusted net earnings to reported net earnings.

b) Total cash costs per gold ounce is a non-GAAP performance measure. The Company reports total cash costs on a sales basis. In

the gold mining industry, this is a common performance measure but does not have any standardized meaning. The Company

follows the recommendations of the Gold Institute Production Cost Standard. The Company believes that, in addition to

conventional measures, prepared in accordance with GAAP, the Company and certain investors use this information to evaluate

the Company’s performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and

should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Total

cash costs on a by-product basis are calculated by deducting by-product silver, copper, lead and zinc sales revenues from

production costs. Refer to page 41 of the 2012 third quarter MD&A for a calculation of total cash cost per gold ounce.

c) Operating cash flows before working capital changes is a non-GAAP measure which the Company believes provides additional

information about the Company’s ability to generate cash flows from its mining operations.

Footnotes

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Q3 2012 Q2 2012 Q3 YTD 2012 Q3 YTD 2011

Revenues per financial statements ($ million) $1,538 $1,113 $4,000 $3,847

Treatment and refining charges on concentrate sales

and other 54 44 143 95

By-product copper, silver, lead and zinc sales credit (551) (308) (1,321) (1,166)

Gold revenues ($ million) $1,041 $849 $2,822 $2,776

Divided by ounces of gold sold (oz) 617,800 532,000 1,695,500 1,805,200

Realized gold price per ounce ($/oz) $1,685 $1,596 $1,664 $1,538

Deduct total by-product cash costs per ounce of gold

($/oz) (220) (370) (277) (209)

Margin by-product per gold ounce ($/oz) $1,465 $1,226 $1,387 $1,329

d) Margin per gold ounce is a non-GAAP performance measure. The Company reports margin on a sales basis. The Company

believes that, in addition to conventional measures, prepared in accordance with GAAP, the Company and certain investors use this

information to evaluate the Company’s performance and ability to generate cash flow. Accordingly, it is intended to provide additional

information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with

GAAP. Margin per gold ounce is calculated as follows:

Endnotes

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1. All Mineral Reserves and Mineral Resources have been calculated as at December 31, 2011 in accordance with the standards

of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101, or the AusIMM JORC

equivalent. Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources.

United States investors are advised that while such terms are recognized and required by Canadian regulations, the United

States Securities and Exchange Commission does not recognize them. “Inferred Mineral Resources” have a great amount of

uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an

Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral

Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume

that all or any part of Goldcorp’s Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves.

United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is

economically or legally mineable. Calculations have been prepared by employees of Goldcorp, its joint venture partners or its

joint venture operating companies, as applicable, under the supervision of Maryse Belanger, Vice President, Technical

Services. Reserve calculations incorporate current and/or expected mine plans and cost levels at each property. Varying cut-

off grades have been used depending on the mine and type of ore contained in the reserves. Goldcorp’s normal data

verification procedures have been employed in connection with the calculations. For a breakdown of Reserves and Resources

by category and for a more detailed description of the key assumptions, parameters and methods used in calculating

Goldcorp’s Reserves and Resources, see Goldcorp’s Annual information Form/ Form 40-F on file with Canadian provincial

securities regulatory authorities and the U.S. Securities and Exchange Commission.

2. Goldcorp’s exploration programs are designed and conducted under the supervision of Charlie Ronkos, Senior Vice President,

Exploration of Goldcorp. For information on geology, exploration activities generally, and drilling and analysis procedures on

Goldcorp’s material properties, see Goldcorp’s Annual Information Form/Form 40-F on file with Canadian provincial securities

regulatory authorities and the U.S. Securities and Exchange Commission.