Barrick Gold Corporation Annual General Meeting 2009

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

Certain information contained in this presentation, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “believe”, "expect", "will", “anticipate”, “contemplate”, “target”, “plan”, “continue’, “budget”, “may”, “intend”, “estimate” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Barrick to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; changes in the worldwide price of gold, copper or certain other commodities (such as silver, fuel and electricity); fluctuations in currency markets; changes in U.S. dollar interest rates or gold lease rates; risks arising from holding derivative instruments; ability to successfully complete announced transactions and integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; employee relations; availability and costs associated with mining inputs and labor; the speculative nature of exploration and development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves; adverse changes in our credit rating, level of indebtedness and liquidity, contests over title to properties, particularly title to undeveloped properties; the risks involved in the exploration, development and mining business. Certain of these factors are discussed in greater detail in the Company’s most recent Form 40-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities.

The Company 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.

1 Barrick Gold Corporation Annual General Meeting 2009

The Gold Industry Leader

TopTop 1010 One of Canada’s Largest Companies

(1) 138.5Moz138.5Moz Largest Gold Reserves

7.7Moz7.7Moz Largest Gold Production in 2008

‘A’‘A’ rated rated Industry’s Highest Rated Balance Sheet

(1) See final slide #1

up 5.8% Gold in 2008 Euro -4.2%

Yen -18.9%

CRB MSCI Index World - 36.0% S&P Equity - 38.5% Index - 42.1%

Source: Bloomberg

2 Barrick Gold Corporation Annual General Meeting 2009

Barrick in 2008 ƒ Generated record operating cash flow ƒ Maintained strong financial position ƒ Met gold production target ƒ Grew reserves and resources ƒ Advanced 3 lower cost projects ƒ Selected for Dow Jones Sustainability (World) Index

2008 Financial Results Cash Flow Net Income Adjusted Net US$ millions 2,206 US$ millions Income(1) US$ millions 1,661 +27% 1,732 +60% 1,119 1,036 -30%

785

07 08 07 08 07 08 (1) See final slide #2

3 Barrick Gold Corporation Annual General Meeting 2009

Average Realized Price(1) 870 Expanding Margins

Total Cash Costs(1) vs Gold Prices 619 427 US$ per ounce 543 Cash Margin(1) 439 274 392 263 443 214 Cash 180 345 Cost 280 212 225

04 05 06 07 08 (1) See final slide #2

Average Realized Price(1) 870 Expanding Margins

Net Cash Costs(1) vs Gold Prices 533 619 US$ per ounce with credit for non-gold sales Net 543 Cash (1) 439 Margin 392 391 342 214 180 337 Cash 212 225 201 228 Cost

04 05 06 07 08 (1) See final slide #2

4 Barrick Gold Corporation Annual General Meeting 2009

ounces thousands 2008 North 2008 America 3,028 Production Africa 545 7.66 Moz South Australia America Pacific 2,111 1,942

Other 31

Goldstrike

Goldstrike Nevada

5 Barrick Gold Corporation Annual General Meeting 2009

Cortez

Cortez Nevada

Lagunas Norte Peru

Lagunas Norte

6 Barrick Gold Corporation Annual General Meeting 2009

Porgera Papua New Guinea

Porgera

P&P Reserves M&I Resources Inferred Growing +11% +29% Resources 138.5 65.0 +9% 34.8 Reserves & 13.9 2.9 14.4 124.6 31.9 Resources(1)(1) 50.6 ounces millions

(1) See final slide #1 07 08 07 08 07 08

7 Barrick Gold Corporation Annual General Meeting 2009

34.8 Inferred Growing Resources 31.9 65.0 Reserves & 24.9 M+I 50.6 Resources Resources(1)(1) 35.0 138.5 ounces millions 12.4 123.1 124.6 P&P 17.6 Reserves 88.6

(1) See final slide #1 05 06 07 08

Copper Reserves Copper Resources Contained Silver pounds billion pounds billions within gold reserves Growing ounces billions Reserves & 6.39 12.47 1.09 +3% +6% Resources(1)(1) +133 6.20 1.03 Other %

Metals 5.35

(1) See final slide #1 07 08 07 08 07 08 5 0 0.9

8 Barrick Gold Corporation Annual General Meeting 2009

North Balanced America 37% Africa 13% Portfolio

Australia 138.5 Moz South Pacific America 14% 36%

Barrick in ƒ Gold production of 1.76 Moz Q1 2009 – net cash costs of $404/oz(1) – total cash costs of $484/oz(1) ƒ Copper production of 95 Mlbs at total cash costs of $1.32/lb(1) ƒ Net income of $371 M ($0.42/share) ƒ On track with 2009 operating guidance ƒ Maintained balance sheet strength

(1) See final slide #3

9 Barrick Gold Corporation Annual General Meeting 2009

New Lower Cost Projects ounces thousands Q1 2010 1st production(2)

Cortez ~2.0 Q4 2011 Hills 1st production million Pueblo lower cost Viejo (1) Q2 2009 ounces 1st production

Buzwagi

(1) See final slide #4 (2) See final slide #5

ƒ First gold pour expected Buzwagi First Pour shortly on schedule ƒ ~200 Koz in 2009 at total cash costs of ~$320-$335/oz(1) ƒ In line with $400 M capital budget(1) Buzwagi

(1) See final slide #6

10 Barrick Gold Corporation Annual General Meeting 2009

Cortez Hills

Cortez ƒ First production expected in Q1 2010(1) ƒ ~1.0 Moz/year(1) ƒ Total cash costs of ~$350-$400/oz(2) ƒ In line with $500 M(2) capital budget

(1) See final slide #5 (2) See final slide #6

Pueblo Viejo ƒ Long life, low cost mine ƒ ~1 Moz/year producer(1) Pueblo Viejo Pueblo Viejo ƒ ~600-650 koz to Barrick’s account(1) ƒ Total cash costs of $275-$300/oz(2) ƒ On schedule for first production in Q4 2011 ƒ In line with $2.7 B(2) capital budget

(1) See final slide #7 (2) See final slide #6

11 Barrick Gold Corporation Annual General Meeting 2009

Pascua-Lama Camp Veladero Next in Line Truckshop Tailings

(1) Process ƒ Gold reserves 17.8 Moz Plant A R G E N T I N A ƒ Contained silver 717.6 Moz(1) C H I L E ƒ Low cash costs Pascua-Lama Orebody ƒ +20 year mine life Crushing & Conveyor Head

(1) See final slide #1

Donlin Creek, Alaska Gold Projects In Feasibility Reko Diq, Pakistan

Cerro Casale, Chile

12 Barrick Gold Corporation Annual General Meeting 2009

Strong Financial Position

A-RatedA-Rated Industry’s Highest Rated Balance Sheet

$2.1B$2.1B Cash Balance

$1.5B$1.5B Undrawn Line of Credit

0.27:10.27:1 Debt to Total Capitalization

$2.2B$2.2B Record 2008 Cash Flow

As of March 31, 2009.

Local / Regional Responsible Mining Goods and Services 2008 Economic Contribution $5.7 Wages and $1.2 Benefits $7.9 Billion $1.0 Royalties, Taxes and Voluntary Payments

ƒ Added to Dow Jones Sustainability World Index

13 Barrick Gold Corporation Annual General Meeting 2009

Building Capacity in Developing Regions

Investing in Education ƒ Schools ƒ Scholarships ƒ Training for teachers ƒ Adult Literacy

14 Barrick Gold Corporation Annual General Meeting 2009

The Atacama Commitment ƒ Homes for 700 families ƒ Computer technology for 12 schools ƒ Services for disabled children

Supporting Indigenous Communities ƒ Agreement with Western Shoshone in Nevada ƒ New Wiradjuri Cultural Studies Centre ƒ Support to Chile’s Diaguita

15 Barrick Gold Corporation Annual General Meeting 2009

Investing in Health ƒ World Vision and Barrick improving child nutrition in Peru ƒ Fighting HIV/AIDS and malaria in Tanzania AMREF/Colin O’Connor ƒ Lake Zone Health Initiative

Protecting our Environment ƒ Investments in renewable energy ƒ Industry-leading water and energy conservation ƒ Dominican Republic: Environmental clean-up ƒ Papua New Guinea: Biodiversity conservation

16 Barrick Gold Corporation Annual General Meeting 2009

The Gold Market Gold has re-emerged as an important asset class

Gold Price and Global Liquidity Global (year-over-year percentage change) 60 42

Reflation 48 35

36 28 ƒ Money supply 21 increases have 24 led to higher 12 14 gold prices 0 7

-12 0 Global liquidity: Reserves + US Mbase

-24 -7

correlation: .63 Sources: Martin Murenbeeld, -36 -14 IMF March 2009, Federal Reserve 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09

17 Barrick Gold Corporation Annual General Meeting 2009

ETF Holdings (Moz) 55 Gold ETF Demand 50 45 at Record Levels Surging ETF inflows 40 Gold Price (US$/oz) 1000 35

900 30

800 25

700 20

600 15

500 10

400 5 Source: UBS Jan-05 Apr-05 Jul-05 Oct-05 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09

Global Reserves Japan ƒ ~$7.3 trillion in China 977.3 Russia total reserves 1,756.7 441.4 – 2/3 in USD ƒ $5.1 trillion collectively held in 16 countries

Sources: Martin Murenbeeld, IMF March 2009

18 Barrick Gold Corporation Annual General Meeting 2009

Gold Production (millions of ounces) Mine Supply 85 Declining 80

75

Barrick 70 estimate

65

Sources: GFMS for historical production 60 Barrick for 2009-2011 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11

ƒ Geo-political and financial risks Bullish on Gold ƒ Global monetary and fiscal reflation will remain necessary for years to come ƒ Investment demand in long-term uptrend – record ETF inflows ƒ Gold supply expected to contract

19 Barrick Gold Corporation Annual General Meeting 2009

Exceptional Gold Leverage ƒ Largest production in place now – quality portfolio anchored in investment grade countries ƒ Industry’s largest reserves – proven track record of replacement ƒ Continued growth in resources – across the board increases in last 3 years ƒ 3 new lower cost mines within 3 years – Buzwagi expected to pour first gold shortly

20 Barrick Gold Corporation Annual General Meeting 2009

Gold US$/oz Gold vs the S&P 1000 S&P Index 1800 750

1400 500

1000 250

600 0 2002 2003 2004 2005 2006 2007 2008 2009

Footnotes 1. Calculated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. For United States reporting purposes, Industry Guide 7 (under the Securities Exchange Act of 1934), as interpreted by the Staff of the SEC, applies different standards in order to classify mineralization as a reserve. Accordingly, for U.S. reporting purposes, Cerro Casale is classified as mineralized material and approximately 600 koz of reserves for Pueblo Viejo (Barrick’s 60% interest) are classified as mineralized material. In addition, while the terms “measured”, “indicated” and “inferred” mineral resources are required pursuant to National Instrument 43-101, the U.S. Securities and Exchange Commission does not recognize such terms. Canadian standards differ significantly from the requirements from the U.S. Securities and Exchange Commission, and mineral resource information contained herein is not comparable to similar information regarding mineral reserves disclosed in accordance with the requirements of the U.S. Securities and Exchange Commission. Investors should understand that “inferred” mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. In addition, investors are cautioned not to assume that any part or all of Barrick’s mineral resources constitute or will be converted into reserves. For a breakdown of reserves and resources by category and additional information relating to reserves and resources, see page 110 of Barrick’s 2008 Year-End Report. 2. Net cash costs per ounce, total cash costs per ounce, realized price, cash margin and adjusted net income are non-GAAP financial measures. In Barrick’s Year-end 2008 Report, “net cash costs” were referred to as “total gold cash costs – full credit basis for non-gold sales”. See pages 48-52 of Barrick’s Year-End 2008 Report. Net cash margin is a non-GAAP financial measure. See page 32 of Barrick’s First Quarter 2009 Report. 3. Net cash costs per ounce, total cash costs per ounce, and total cash costs per pound are non-GAAP financial measures. See pages 28-32 of Barrick’s First Quarter 2009 Report. 4. ~2 Moz of production is the cumulative average for the first full 5 yrs starting in 2012 (first year that all 3 projects are in full production). Lower cost ounces refers to total cash costs. 5. Assuming the satisfactory resolution of pending litigation regarding the Cortez Hills project. In Q4 2008, a number of opponents of the Cortez Hills expansion filed suit in the U.S. District Court for the District of Nevada seeking to overturn the Bureau of Land Management’s approval of the Cortez Hills project on environmental and religious grounds. The plaintiffs unsuccessfully sought to enjoin construction of the project pending consideration of their claims. The District Court’s denial of the requested injunction is currently being appealed. First production for Cortez Hills of ~1 Moz includes the existing Cortez operation and is based on average production for first full 5 years. 6. Expected cash costs for Buzwagi, Cortez Hills and Pueblo Viejo are based on $75/bbl oil and average for first full 5 years of production. Cortez Hills cash cost estimates include existing Cortez operation. All ‘budget’ references refer to ‘pre-production’ budgets on a 100% basis. Pueblo Viejo pre-production capital budget of $2.7B (100% basis) is to be followed by $0.3B to complete phased expansion to 24,000 tpd. 7. Pueblo Viejo expected production of 600-650 koz is based on average for first full 5 yrs at 60% following phased expansion to 24,000 tpd.

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