Twiga Minerals Corporation Limited Tanzania, Q3 2020

1 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 “being”, “potential”, “will”, “on our way”, “scheduled”, “looking” and similar expressions identify forward-looking statements. In particular, this presentation contains forward-looking statements including, without limitation, with respect to: payment to be made to the government of Tanzania; progress being made towards compliance with environmental permits and local content legislation; scheduled production from Bulyanhulu; the potential for North Mara and Bulyanhulu to become a Tier One complex and potential expansions to the life of mine; planned exploration and growth initiatives; Barrick’s safety and health and environmental performance in Tanzania; the resolution of legacy land management issues; and the implementation of North Mara’s water management plan.

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 press release 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 , 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 and regulations; 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 allocation objectives 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, expropriation or nationalization of property and political or economic developments in Tanzania and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; 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; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; litigation and legal and administrative 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 inputs and labor. 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. To be world class, we need to be global…

Donlin Gold (50%)

Golden Sunlight (100%) Hemlo (100%)

Nevada Gold Mines (61.5%) Fourmile (100%) Loulo-Gounkoto (80%) Pueblo Viejo (60%) Jabal Sayid (50%) Massawa (11%i)

Reunion Tongon (89.7%) Kibali (45%) Strategic Alliance Lagunas Norte (100%) North Mara (84%) Porgera (47.5%) Lumwana (100%) Bulyanhulu (84%) Buzwagi (84%) Zaldivar (50%) Norte Abierto (50%) Pascua-Lama Veladero (50%)

Producing Projects Copper producing i In Q1 2020, Barrick sold its stake in Massawa to Teranga Gold Corporation and retained an 11% equity interest in Teranga Barrick’s history in Tanzania…

Acacia loses LTO – 1 Jan - Barrick / Randgold management banned merge and New Barrick from Tanzania Team takes over African 24 Jan - listed on LSE – 17 Sept - Barrick Barrick and Barrick acquires Barrick retains 63.9% John Thornton steps assumes full control GOT execute Sutton Resource - and 2 board seats incl into dispute between of Acacia and Framework Bulyanhulu chairman Acacia and GOT completes delisting Agreement

1999 2000 2010 2014 2017 2018 2019 2020

Barrick acquires Name change to Barrick attempts to 12 Oct – North Apr – 13 Oct – Pangea Goldfields – negotiate FWA and is Mara mine Concentrate Maiden interim Buzwagi & Tulawaka undermined by Acacia reopened – interim sales resume cash dividend water management $250m paid Barrick acquires plan May – Barrick pays Placer Dome – first $100 million in North Mara settlement

Licence to operate (LTO); Government of Tanzania (GOT); Framework Agreement (FWA) Safety, Health and Environment…YTD

Safety LTIFR2 / million hours worked 3 3 LTI recorded for the quarter: 2 at North Mara and 1 at 2.5 Buzwagi 2 1.39 9 Total Recordable Injuries (TRI) for Q3: 6 at North 1.5 Mara, 2 at Bulyanhulu and 1 at Buzwagi 1 0.5 1.14 TRIFR1 of 2.75 compared to 1.99 in Q2 0 0 0 Q1 Q2 Q3 YTD: North Mara Bulyanhulu Buzwagi LTIFR2 – 0.32 TRIFR1 – 1.84 9 HPI recorded for the quarter compared to 18 for Q2

HIV HIV positivity rate across all three operations in Q3 is 0% YTD HIV positivity rate – 1.32% Safety, Health and Environment…YTD

Malaria Malaria Incidence Rate % 5 4.75 Malaria incident rate (MIR) 2.92% compared to 4 3.45 2.92 4.75% in Q2 3 2 YTD MIR – 11.09% 1 0 Q1 Q2 Q3 Covid-19 Covid-19 pandemic precautions ongoing with more emphasis on social distancing, hand hygiene and face masks at all times while on site

1 Covid-19 confirmed case recorded to date across all three TWIGA operations Environmental Performance…

General Water Overall good performance Water efficiencies No Class 1 & 2 incidents were recorded in the quarter3,4 North Mara 0.37m3/t 3 A total of 14 Class 3 incidents were recorded vs. 21 in Q2 Bulyanhulu 0.1m /t 3 Govt. Environmental Committee visit to all 3 mines, no major issues Buzwagi 0.45m /t Efficiency (m3/t) - Freshwater use Waste Recycled / Tonnes Q3 (m3) - Q3 1500 North Mara 0.37 2 009 351 1110 Bulyanhulu 0.10 192 288 1000 Buzwagi 0.45 563 044 533 407 432 Total Tanzania 0.3 2 764 683 500 271 171 172 190 TSF Freeboard: 0 North Mara Bulyanhulu Buzwagi Total Tanzania North Mara 5.2m, Bulyanhulu 2.8m, Q3 Recycled Q3 Total Waste Generated Buzwagi 2m NM TSF pool – 3 Mm3 from 3.9 Mm3 in Waste Q2. Total pumped to date 3.8 Mm3 0.5t of waste was recycled out of 1.1t waste generated What Barrick inherited in 2019…

North Mara Poor understanding of the orebodies On care and maintenance as result of a series of issues with the tailings dam No social license to operate in Tanzania Various international court cases and investigations regarding a wide range of matters Poorly motivated staff with excessive overhead costs

Bulyanhulu Processing tailings only and not generating sufficient cash to sustain itself Poor understanding of orebodies and lack of Mineral Resource Management skills Poorly maintained infrastructure including metallurgical facility, shaft and associated equipment and engineering capability Mining license compromised by invasion by illegal miners - actively mining underground and above ground using explosives and CIL

Buzwagi A stockpile processing operation Limited mine life before going into closure A year later…what Barrick has achieved

Framework Agreement signed on 24 January 2020 with President Magafuli in attendance Working to take combined North Mara and Bulyanhulu to Tier 15 status $100 million tranche of $300 million settlement paid in May 2020 10 exploration licenses around North Mara applied for and all 10 awarded to Barrick Twiga established on 24 January 2020 North Mara resumes operations Bulyanhulu re-development plan on track to start processing in Q4 2020 North Mara exploration programme yields positive results New water plan accepted by all Government agencies Bulyanhulu cleared of illegal miners in April 2020 Critical appointments made to infuse Barrick DNA Logistics partner changed and now 50% owned by Tanzanian businessman All contracts reviewed and most revised to fit the local procurement strategy Maiden interim dividend of $250 million paid to Twiga JV partners Q3 2020 progress towards… delivering on business plan1

Production Koz

27 24 24 9 8 8

77 81 79

Q1 2020 Q2 2020 Q3 2020

North Mara Bulyanhulu Buzwagi

Year to date production currently at 338koz and full year production on track to fall within market guidance Mining commenced at Bulyanhulu during Q3 2020 Above nameplate throughput and nameplate recovery achieved at North Mara Final Life of Mine water plan developed and to be shared with authorities for approvals

1 On a 100% basis Operations…update

UG ore tonnes1 300 271 North Mara transitioned to underground mine during the 250 228 222 year and significant improvements made to improve 200 costs and operational effectiveness 150 100 Inherited legacy maintenance backlog with significant 50 skills gap addressed 12 - Covid-19 pandemic impacted Q2 progress but Q1 2020 Q2 2020 Q3 2020 improvements and advanced development show North Mara Bulyanhulu turnaround in Q3 Development Metres Bulyanhulu commenced mining in Q3 as planned and 800 1,500 1,375 1,313 will be in full operation by Q1 2021 after ramp-up 982 1,000

500 111 - Q1 2020 Q2 2020 Q3 2020 North Mara Bulyanhulu

1 On a 100% basis Tier 1 progress…

Bulyanhulu restart and feasibility Mining commenced in Q3; 2021 mine plan delivered and feasibility study on track showing decrease in cost profile Improved understanding of orebody has resulted in review of more efficient mining methods and fleet General improvements made to process plant design North Mara Grade control drilling instils confidence in mine plan North Mara plant throughput optimisation plans to significantly exceed nameplate throughput on the back of current year improvements extending production profile Long term water treatment plan finalised to support contribution from North Mara to 10 year profile Tanzania…a premier exploration destination in East Africa

Kibali Large scale mineralised systems with potential for additional world class discoveries DRC Active greenfields exploration programmes have commenced on priority targets Next phase of permit consolidation underway North at North Mara Mara Country-scale prospectivity assessment has begun to generate new targets in Tanzania Bulyanhulu Buzwagi Tanzania Tanzania…numerous exploration and growth opportunities

Bulyanhulu Growth objectives in 2020: (Looking W) Replace production depletion and discover additional resources to increase mine life UG Near Mine Upside Potential: Develop- Review of systems at North Mara & Bulyanhulu validates numerous open targets ment Geological model updates at Gokona, Rama, Gena and Bulyanhulu underway Drilling motivated on priority targets at Gokona, Gena and Bulyanhulu in H1 2020

+1.2km 2km Deep GOKONA PIT NYABIGENA PIT 2020 West Planned Target Kofia Target Drilling Open

1km Open Greenfields / Regional Upside Potential: New geological models and ideas rejuvenate greenfields exploration TARGET: Upper West Generate and advance geophysical targets at TARGET: TARGET: Buzwagi and beneath cover at Bulyanhulu Gokona- Nyabigena TARGET: Gena Gap Down Dip Consolidate and expand our tenement portfolio Lower West in the most prospective areas of Tanzania Open Gokona Trend…Near Mine and District Scale Potential Near Mine Potential Kofia Target Upper West 800m Conversion Drilling N Tertiary Fault (dextral)

Gokona Nyabigena HW Contact (MSC) FW Contact (VAN) IP Chargeability Anomaly Alteration 600m

KDH001 Currently 533m Regional Scale Potential Sparse RC (<150vm) Schematic Long Section (1h=2v ) in host sequence Gokona & Gena

Alkalic Syenites (fertile) Andesitic Porphyries (Gokona style) Granite / Tonalite Mafics (Basalts) Fe-rich Sediments Shakta Target Sandstones / Siltstones Structural intersection (Gokona style) RC with silica-feldspar alt. GW1 & Kofia Targets 5km porphyry & py + aspy Gokona stratigraphy, IP IP chargeability chargeability, alteration In-country investments…

Investment $ million $530m paid in country in form of taxes, permits, 33 7 infrastructure, salaries and payments to local suppliers 153 Maiden interim cash dividend $250m paid on the 100 13 October 2020 Capital and exploration expected to exceed $180m of which half relates to growth projects Significant CSR projects undertaken

237 Local Supplier Contribution Tanzania taxes FWA Settlement Salaries CSR National workforce commitment…

Tanzania Headcount Q3 2020 Recruitment ongoing, specifically at the Bulyanhulu restart project. Employment and Company Expats Contractor Expats transition plans presented to Mining 58 (2%) 59 (2%) Commission to ensure local empowerment and development World leading talent appointed in critical areas of the business to ensure Barrick Company culture and essential skills transfer is made Nationals within region 1286 (37%) Contractor Improvement in communication with Nationals authorities 2092 (60%) More can be done for skills transfer and empowerment of local workforce 97% of total workforce made up of local employees Local content…

Leveraging our Supply Chain to enhance our License to Operate

$118 million spent on local contractors and suppliers year to date and $41 million during Q3 2020

Key achievements: Local content plans approved by Mining Commission for all operations Successful transition to Tanzanian Security Service company Nguvu Moja - committed to driving change in security Tanzanian civil contractors awarded Buzwagi TSF lift and rehabilitation work tender Tanzanian supply chain partner, TCL Services, responsible for all procurement for Twiga operations Training programmes initiated for all Barrick HOs on Local Content Regulations to drive ownership and compliance from end-users and to identify opportunities Drilling partners have formed new entities with 20% Indigenous Tanzanian Company shareholding Local content opportunities…

Key opportunities to further enhance local content

Leverage strategic positioning of Dar es Salaam’s port and industrial development to become a strategic supply hub to support other Barrick operations and drive synergies across East Africa

Continue to advance stakeholder engagement plan and roadshow to identify opportunities with local business forums and entrepreneurs

Implement training and skills development programmes

Work with local Tanzanian drilling companies to expand operations and begin exploration and MRM drilling North Mara… water management

4 lines and pumps from TSF to Rama Pit installed during Q1 2020 As of 30th June 2020, a total of 3.5 million m3 of water have been pumped from the TSF to Rama Pit Water monitoring boreholes installed and in use for Rama Pit Addition of 4 evaporators - project completed and installed at the TSF during Q1 Commissioning of water treatment plant to additional 2.5ML/d to double the capacity of existing plant completed during the

quarter 800 Ingwe Mara river increased discharge from 20 000m3/day to 50 000m3/day New water treatment plant to be commissioned in Q4 LOM water plan designed to comply with all standards enabling mine to increase throughput and ounces Resolving legacy land compensation…

Land compensation at TSF 2 Land area: 1609 people compensated at TSF 2 to a total value of Tsh. 32.7 Billion Engagement with village leaders continues to encourage people to collect their payment Plans to relocate the graves and government institutions such as school and health centre are underway Resolving legacy land compensation…

Gena Land Acquisition: Moratorium issued by Government on 28 May 2020 to stop land development Valuation stopped as a result of election DC inspected area with the District Security Council to record land speculation post 28 May Moratoruim Community development progress…

Water Treatment Plant Upgrade

Community Engagement

Construction of Pediatric ward at Kemanyanki poultry project Nyamwaga Hospital at 20% of Completion Power of People and Partnerships…

Governments Successful partnerships in NGOs and host countries are key to Regulators finding, developing and running world class mines Examples of this are reflected in the success of our operations in Africa where we’ve delivered long term value for all our Mining Employees stakeholders Companies and and Communities Investors

18 Endnotes…

1. Total reportable incident frequency rate (TRIFR) is a ratio calculated as follows: number of reportable injuries x 1,000,000 hours divided by the total number of hours worked. Reportable injuries include fatalities, lost time injuries, restricted duty injuries, and medically treated injuries.

2. 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.

3. Class 1 - High Significance is defined as an incident that causes significant negative impacts on human health or the environment or an incident that extends onto publicly accessible land and has the potential to cause significant adverse impact to surrounding communities, livestock or wildlife.

4. Class 2 - Medium Significance is defined as an incident that has the potential to cause negative impact on human health or the environment but is reasonably anticipated to result in only localized and short- term environmental or community impact requiring minor remediation.

5. A Tier One Gold Asset is a mine with a stated life in excess of 10 years, 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.

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