2012/11/28

1

Building our business…ensuring the mines operate at design

while eyeing further expansion

John Steele, Technical and capital projects executive

Track record…

Morila 2000

Expansion 2004

Loulo 2005

Expansion 2011

Tongon 2010

Gounkoto 2011

………Kibali 2013 ……… Massawa 2016Transporting 6.1 m diameter mill

shell sections to Kibali.

2012/11/28

2

Intellectual capital…

Ownership (accountability and look after what we build)

Commissioning

Maintenance

Oversight

Trouble-shooting

Demand planning

CEO, Capital & Technical Executive and WA

Operations Manager engaging with the

Tongon team on the Flash Flotation circuit at

Tongon Gold Mine.

Team organogram & strategy…

Common thread of design

Common spares

Simple process

Technical back-up

Engineering support

Engineering solutions

One-stop shop

Ownership

Preventative maintenance

Alternative power

Technology for Africa

Relationships

2012/11/28

3

Design for remote Africa…

Mill sizing is critical (also don’t split cans horizontally, vertically OK)

Owner’s civil team (can do our own civils)

Dedicated earthworks contractor, (don’t use your mining contractor)

Materials of construction

– minimise transport cost

(hydraform brick)

Standard roof widths

(easier form designs)

Use of the best consultants

“Flexibility is still the key to preventing capex and timeline creep”

Kibali mill

sections

en route

to the mine.

Housing…

Housing at

Tongon and

Kibali.

2012/11/28

4

The Randgold way ….

Open pit, soft start, early profit that funds the capital

Gravity gold recovery on Gemini table at Morila Gold Mine.

Low cost start on oxides

Simple process / easier conditions for operators

Bed down profitable operation

Stop the bleed on corporate treasury

Slower commissioning on transition & sulphides

Gravity recovery

Don’t wait, make a plan philosophy

Building partnerships (local and international)

Build to operate…fit for purpose

Operating team in design

Crush and ball mill vs. SAG / Ball

power efficiency (particularly with high cost diesel power) - also highlight the move to cheaper power (HFO/Hydro)

advances in crushing,

easier maintenance,

SAG inefficiencies

Fuzzy Logic

Container bridge in operation

for the past 15 years.

2012/11/28

5

Investing in our People…

Early training of operators

LAB selection

On-site training

In-house training at other RRL facilities

Knowledge sharing

with the metallurgical

team on-site at

Loulo Gold Mine.

Hydropower projects in West Africa’’’

2012/11/28

6

Grid power at Tongon…

Recent instability

Power blackouts

Replacement of transformer at Man

New 225 kV line (Laboa – Boundiali)

Substation at Tongon.

Hydropower in Kibali…

Big power potential

4 initial stations

More stations to come

“run of river” vs. “dam” schemes

Nzoro River.

2012/11/28

7

Improvements in O2 management…

Slimes re-treatment project…

We find them and build them, so we have to wind them down and close them as well.

TSF re-treatment project provides us with a smoother path towards closure at Morila.

Aerial view of the TSF

at Morila Gold Mine.Hydro-sluicing at a Fraser Alexander

Tailings reclamation operation.

2012/11/28

8

Delivering mines cost effectively…

Tongon - how we managed building in a crisisPartnerships

Local teams

Local businesses

Kibali - the design conceptBased on Loulo / Tongon

Maximise hydropower

Early oxide phase

Prioritise the program

Avoid timeline creep

Mill installation at

Tongon.

Kibali progress…

2 year oxide start

Moderate strip ratios

Access to higher grade underground ore

Low Bond Work Index ores

Big throughput capacity

Hydro power projects

2012/11/28

9

Design flexibility for expansion…

Design in space for expansion in initial layout (forward thinking)

Look for opportunities as the Mine develops

Expansion

Morila

250 → 350 ktpm

Loulo

200 → 300 → 350 ktpm

Tongon

300 → ? ktpm

Kibali

500 → ? 600 ktpm

View of the process plant at Morila.

Looking ahead … … …

Starting with simple processes at Morila;

… then more complex multiple ore bodies at Loulo/Gounkoto,

… flash flotation at Tongon ,

… full flotation planned for Kibali and

… POX at Massawa

Gold pour and gold dorè bars at Tongon Gold Mine.

2012/11/28

10

Disclaimer…

Competent persons:Loulo mineral resources were calculated by Mr Abdoulaye Ngom, an officer of the company, under the supervision of Mr Jonathan Kleynhans, an officer of thecompany and competent person. Morila mineral resources were calculated by Mr Adama Kone, an officer of the company, under the supervision of Mr JonathanKleynhans, an officer of the company and competent person. The Tongon and Massawa mineral resources were calculated by Mr Babacar Diouf and Mr Mamadou Ly,both officers of the company, reviewed by Mr Jonathan Kleynhans, an officer of the company and competent person. Kibali mineral resources were calculated by MrErnest Doh under the supervision of Mr Jonathan Kleynhans, an officer of the company and competent person. The Gounkoto mineral resources were calculated by MrAbdoulaye Ngom, under the supervision of Mr Jonathan Kleynhans, an officer of the company and competent person. All mineral resources were reviewed andapproved by Mr Rodney Quick, general manager evaluation and a lead competent person. Mr Johan Kleynhans and Mr Rodney Quick are members of SACNASP andboth have sufficient experience in the style of mineralisation and types of deposits under consideration and the activity which they are undertaking as competentpersons as defined in the 2004 addition in the ‘Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves’.The Loulo and Gounkoto open pit mineral reserves were calculated by Mr Shaun Gillespie, an independent consultant, competent person and member of SAIMM.Loulo underground reserves were calculated by Mr Juan Mitchell, an officer of Randgold, reviewed by Mr Mark Odell, an independent consultant, competent personand practising professional engineer. The Tongon Northern Zone mineral reserves were calculated by Mr Samuel Baffoe, under the supervision of Mr Onno ten Brinke,an officer of the company and competent person. The Tongon Southern Zone mineral reserve was calculated by Mr Nicholas Kingaby, an independent consultant,competent person and member of SAIMM. Massawa mineral reserves were calculated by Mr Onno ten Brinke in the capacity as an independent consultant, competentperson and member of AusIMM, and reviewed and verified by Mr Rodney Quick, an officer of the company and competent person. The mineral reserves of Morila werecalculated by Mr Stephen Ndede, an officer of the company, competent person and member of AusIMM. Kibali open pit mineral reserves were calculated by Mr Onnoten Brinke and Mr Nicholas Coomson, both officers of the company, competent persons and members of AusIMM. Underground mineral reserves were calculated byMr Dan Donald and Mr Tim Peters, both independent consultants, competent persons and members of AusIMM. All competent persons have sufficient experience inthe style of mineralisation and types of deposits under consideration and the activity which they are undertaking as competent persons as defined in the 2004 additionin the ‘Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves’.

Cautionary note to US investors: The United States Securities and Exchange Commission (the SEC) permits mining companies, in their filings with the SEC, to discloseonly proven and probable ore reserves. Randgold uses certain terms in this report such as ‘resources’ that the SEC does not recognise and strictly prohibits the companyfrom including in its filings with the SEC. Investors are cautioned not to assume that all or any parts of the company’s resources will ever be converted into reserveswhich qualify as ‘proven and probable reserves’ for the purposes of the SEC’s Industry Guide number 7.

CAUTIONARY NOTE REGARDING FORWARD‐LOOKING STATEMENTS: Except for the historical information contained herein, the matters discussed in this presentationare forward‐looking statements within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934, andapplicable Canadian securities legislation. Forward‐looking statements include, but are not limited to, statements with respect to the future price of gold, theestimation of mineral reserves and resources, the realisation of mineral reserve estimates, the timing and amount of estimated future production, costs of production,reserve determination and reserve conversion rates. Generally, these forward‐looking statements can be identified by the use of forward‐looking terminology such as‘will’, ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, orvariations of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘occur’ or ‘be achieved’.Assumptions upon which such forward‐looking statements are based are in turn based on factors and events that are not within the control of Randgold ResourcesLimited (‘Randgold’) and there is no assurance they will prove to be correct. Forward‐looking statements are subject to known and unknown risks, uncertainties andother factors that may cause the actual results, level of activity, performance or achievements of Randgold to be materially different from those expressed or impliedby such forward‐looking statements, including but not limited to: risks related to mining operations, including political risks and instability and risks related tointernational operations, actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to berefined, as well as those factors discussed in the section entitled ‘Risk Factors’ in Randgold’s annual report on Form 20‐F for the year ended 31 December 2011 whichwas filed with the US Securities and Exchange Commission (the ‘SEC’) on 30 March 2012. Although Randgold has attempted to identify important factors that couldcause 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 fromthose anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. Randgold does not undertake to updateany forward‐looking statements herein, except in accordance with applicable securities laws. CAUTIONARY NOTE TO US INVESTORS: The SEC permits companies, intheir filings with the SEC, to disclose only proven and probable ore reserves. We use certain terms in this presemtation, such as ‘resources’, that the SEC does notrecognise and strictly prohibits us from including in our filings with the SEC. Investors are cautioned not to assume that all or any parts of our resources will ever beconverted into reserves which qualify as ‘proven and probable reserves’ for the purposes of the SEC’s Industry Guide number 7.