Mali

Impact of mining on the Malian economy…challenges and opportunities

1PDAC virtual presentation

Cautionary statement onforward looking information

Certain information contained in this presentation, including any information as to Barrick’s strategy, plans, or future financial or operating performance, constitutes “forward looking statements”. Allstatements, other than statements of historical fact, are forward-looking statements. The words “planned”, “future”, “on track”, “continue”, “preliminary”, “further”, “potential”, “opportunities”, “strategy”, “inprogress”, “ongoing”, “to be”, “target”, “a look at”, and “will” and similar expressions identify forward-looking statements. In particular, this presentation contains forward-looking statements including, withoutlimitation, with respect to: forward-looking production guidance; future investments in community projects and disease prevention programs; the anticipated benefits of the sale of the Morila mine; Loulo-Gounkoto’s current projects, including the potential extensions to the life of mine and solar project ramp up, and the expected benefits of those projects; ongoing exploration work and potentialmineralization; mineral reserve and mineral resource replacement at the Loulo-Gounkoto complex; construction and development of the Gounkoto underground project, including expected first production;development and training of personnel; expected operational improvements due to improved monitoring and analysis; opportunities and challenges for the growth of the Loulo-Gounkoto complex and thegrowth of Barrick’s partnership with the Malian government and its people.

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 consideredreasonable 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 significantbusiness, 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, andundue 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); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes;risks associated with projects in the early stages of evaluation, and for which additional engineering and other analysis is required; failure to comply with environmental and health and safety laws andregulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of targeted investments and projects will meet the Company’s capital allocationobjectives and internal hurdle rate; changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices, expropriationor nationalization of property and political or economic developments in Mali and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; damage to theCompany’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 withcommunity groups, whether true or not; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; litigation and legal andadministrative proceedings; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change;and availability and increased costs associated with mining inputs and labor. Barrick also cautions that its guidance may be impacted by the unprecedented business and social disruption caused by thespread 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 orunexpected 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 coverthese 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, oron 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 thesecautionary 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 detaileddiscussion 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 thispresentation.

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.

1995Randgold

incorporated

1996RRL acquired

BHP Mali assets including Syama

2000Morilapours

first gold

2003Syamasold to

Resolute

2005Loulo

pours first gold

2005Loulo UG feasibility approved

2006Loulo UG

mine starts

2007Massawadiscovery

Yalea discoveryMorila

discoveryIPO raises $83m

1997 2001Syama

on care and maintenance

Loulo construction starts

2004

Tongon stake at 89.7%

Market Cap at $3bJoin FTSE 100

2008Gounkoto discovery

Acquired Kibalistake at 45%

20092010Tongon first goldGara UG starts

Gounkoto mine build starts

Record Production

Market cap at $11b

Join NASDAQ 100

2011

Gounkotofirst gold

2011

Record production

Morila mine lifeextended

2012 2013Loulo Complex

record production

2014Production

exceeds 1MozLTIFRi down

18%

2015+1.2Moz

group production

2016+1.25Moz

group production

2017Gounkotosuper pit

starts

2019Randgold –

Barrickmerger

2020Gounkoto

UGStarts

2020Loulo pays

maiden dividend

24 years of commitment to West Africa…

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

Barrick Mines in Mali Gold Production…

239 249 203142 110 6 54 70 75 68 37

317 346503 580 639

630

707730

660 715680

0

100

200

300

400

500

600

700

800

900

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

KO

unce

sBarrick Mines in Mali Gold Production (100%) (Koz)

Loulo-Gounkoto Complex

Morila

0

500

1,000

1,500

2,000

2,500

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Bill

ion

FCFA

Mali Gold Export vs. Total Export

Gold Export Total Export

Source: BCEAO

Revenue generated from gold mining represents 70% of the total export of Mali over the last ten years

Mali gold mining industry impact…

Loulo–Gounkoto…development of local skills

Total Employees: 5,481 (3% state employees)Nationals: 5,250 (96%)Expats: 231 (4%)Total Salary: 5% state salary

MineExpats

129 (2%)

ContractorsNationals

3,076 (56%)

ContractorsExpats

102 (2%)

MineNationals Permanent

1,626 (30%)

TemporaryNationals548 (10%)

*Totals may not add due to rounding *All the figures illustrated above are as at 31 December 2020

Our three mines have also been responsible for between 5% and 10% of the Malian GDP over the last tenyearsBarrick/Randgold operations have contributed approximately US$ 7.7 billion to the Malian economy in the formof taxes, royalties, salaries and payments to local suppliers in the last 24 years

Barrick’s contribution to Mali economy...

% Contribution to Malian GDPi

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Morila

Gounkoto

Loulo

Source: World Bank and Barrick Gold Corporation i The sale of our interest in Morila was completed in November 2020

GounkotoUS$ 1.3 Bn

MorilaUS$ 2.3 Bn

LouloUS$ 4.1 Bn

Loulo-Gounkoto CSRiii - governance and stakeholderengagement…>$13m invested; $29.6m patente paidi

Health5 health centres built in the communitiesFighting malaria and Covid-19 in local communities Program implemented for the fight against HIV - increase testing of volunteers

Food Security48 agribusiness graduates commenced farming5 dams built Annual seed and fertilizer donation

Education78 local students benefiting from the excellence bursary program20 schools builtSchool enrolment: >5,000 students compared to 500 before the mine opened85m FCFA to improve education with World Education International (WEI)“One Village - One School” target reached around our operation

Potable water61 boreholes and 7 water supply systems constructedRegular water quality analysis with annual feedback sessions held in villages Establishment of water management committees in villages

Economic development6 women multifunctional centres built2 food grinding mills 5 new community GIEsii enrolledCommunity road maintenance$951,720 of credit granted by Nyesigiso

i Regional taxes paid ii Groupement d’Interet Economique III On a 100% basis

Agribusiness Local Business Support…License to operate

$375.5 million spent on local contractors and suppliersin 2020 (services rendered, goods and fuel supply)Joint venture with local partner on limestone project toincrease local content (SI-Mining)Transport consortium implemented to incorporategreater number of Malian transport partners, with directand positive impact on our License to OperateAccelerator program launched to build capacity andimprove local suppliers management system andservice quality12 companies selected in the first cohort for 13-monthprogram

Agribusiness Sakola$2.2m spent to develop agricultural entrepreneurship48 entrepreneurs established and 30 farms created –Keep producing 352 youth trained – Program to train 450 more with FIERi

I Formation Profesionnelle, Insertion et appui a l'entrepreneriat des jeunes ruraux

Morila Sale Concluded…

TSF reclamation188,672oz produced by reclaiming the TSF materialsReclamation treatment methodologyEnvironmental benefit

Morila sold to Firefinch to breathe new lifeThe sale was concluded on 10 November 2020The transaction will benefit the mine’s Malian stakeholders(Employees, Community and Government) by givingFirefinch the opportunity to extend its life by accessingsatellite resources and adapting the infrastructureBarrick was the operator of the mine and the sale is in linewith its policy of selling non-core assets to concentrate onTier One minesi

Barrick remains committed to its partnership with Mali,where it owns and operates the Tier One Loulo-Gounkotogold complexThe Government retained its 20% stake

i A Tier One mine is an asset with a reserve potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve.

Opportunities and Challenges

Opportunities Challenges

Growth

Super Pit for Yalea South Upper Saprolite

Prefeasibility study on a new potential underground mine (Loulo 3) planned for 2021

Power Efficiency

Evaluate the feasibility of adding energy storage to the microgrid

Gold Recovery Efficiency

Evaluate the acquisition of an owner-operated Oxygen Production System to decrease contractor costs

Covid-19 related issues

Compliance reinforcement

Testing capacity improved with the purchase of a PCR machine

Illegal Mining

Illegal mining has a significant impact on the environment, including the Faleme river

Changes in Mining Law/Anti-mining

Technical Information The scientific and technical information contained in this presentation has been reviewed and approved by Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Resources Manager, Africa and Middle East, a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.