Financial Highlights > www.barrick.com Barrick Gold Corporation page 10 page 18 Barrick Gold Corporation Driven Corporate Office: Tel: 416 861-9911 Brookfield Place Toll-free throughout North America: TD Canada Trust Tower 1 800 720-7415 161 Bay Street, Suite 3700 Fax: 416 861-2492 P.O. Box 212 Email: [email protected] Toronto, Canada M5J 2S1 barrick.com by Returns Profitable production. Focus on Free Cash Flow PAGE 8 World Class Assets PAGE 10 Adding Value Through Exploration PAGE 16 Corporate Responsibility PAGE 20 Ethical Business Practices PAGE 26 Annual Report 2012 Barrick Gold Corporation Annual Report 2012 Financial Highlights > www.barrick.com Barrick Gold Corporation page 10 page 18 Barrick Gold Corporation Driven Corporate Office: Tel: 416 861-9911 Brookfield Place Toll-free throughout North America: TD Canada Trust Tower 1 800 720-7415 161 Bay Street, Suite 3700 Fax: 416 861-2492 P.O. Box 212 Email: [email protected] Toronto, Canada M5J 2S1 barrick.com by Returns Profitable production. Focus on Free Cash Flow PAGE 8 World Class Assets PAGE 10 Adding Value Through Exploration PAGE 16 Corporate Responsibility PAGE 20 Ethical Business Practices PAGE 26 Annual Report 2012 Barrick Gold Corporation Annual Report 2012 FINANCIAL HIGHLIGHTS REVENUE OPERATING CASH FLOW ADJUSTED NET EARNINGS1 (US dollars millions) (US dollars millions) (US dollars millions) Barrick’s strategy is focused on maximizing risk-adjusted 14,547 4,666 returns and free cash flow to position the company to 14,236 5,315 5,439 4,585 3,827 return more capital to shareholders over time. 3,517 Cautionary Statement on Forward-Looking Information 10,970 Certain information contained or incorporated by reference in this Annual Report 2012, 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 “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “intend”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions 2012 2011 2010 identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and (In millions of US dollars, except per share data) competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from (Based on IFRS) those projected in the forward-looking statements. Such factors include, but are not limited to: fluctuations in the spot and 0 00 forward price of gold and copper or certain other commodities (such as silver, diesel fuel and electricity); diminishing quantities Revenues $ 14,547 $ 14,236 $ 10,970 or grades of reserves; the impact of inflation; changes in national and local government legislation, taxation, controls, regulations, 2010 2011 2012 2010 2011 2012 2010 2011 2012 Net earnings (loss) (665) 4,484 3,582 expropriation or nationalization of property and political or economic developments in Canada, the United States and other per share (0.66) 4.49 3.63 jurisdictions in which the Company does or may carry on business in the future; the impact of global liquidity and credit Barrick reported record revenue and operating cash flow as well as strong adjusted net earnings in 2012 availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; increased 1 Adjusted net earnings 3,827 4,666 3,517 costs, delays and technical challenges associated with the construction of capital projects; fluctuations in the currency markets; per share1 3.82 4.67 3.56 changes in U.S. dollar interest rates; risks arising from holding derivative instruments; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; business opportunities that may be presented to, or pursued by, the Company; our ability ANNUALIZED DIVIDEND2 GOLD RESERVES AND ALL-IN SUSTAINING Operating cash flow 5,439 5,315 4,585 3 1 to successfully integrate acquisitions or complete divestitures; operating or technical difficulties in connection with mining or (US cents per share) RESOURCES CASH COSTS Adjusted operating cash flow1 5,156 5,680 5,241 (Ounces millions) (US dollars per ounce) development activities; employee relations; availability and increased costs associated with mining inputs and labor; litigation; 80 Adjusted EBITDA1 7,457 8,611 6,448 the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits; 945 40 adverse changes in our credit rating; contests over title to properties, particularly title to undeveloped properties; and the 37 36 Cash and equivalents 2,093 2,745 3,968 organization of our previously held African gold operations and properties under a separate listed company. In addition, there 60 752 Dividends paid per share 0.75 0.51 0.44 83 are risks and hazards associated with the business of mineral exploration, development and mining, including environmental 76 80 Annualized dividend per share2 0.80 0.60 0.48 hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion or copper cathode 649 losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties 48 and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied Gold production (000s oz) 7,421 7,676 7,765 in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are 140 140 140 Average realized gold price per ounce1 $ 1,669 $ 1,578 $ 1,228 not guarantees of future performance. All of the forward-looking statements made in this Annual Report 2012 are qualified All-in sustaining cash costs per ounce1 $ 945 $ 752 $ 649 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 discussion of some of the factors underlying 1 Total cash costs per ounce $ 584 $ 460 $ 409 forward-looking statements. Copper production (M lbs) 468 451 368 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. 0 0 0 Average realized copper price per pound1 $ 3.57 $ 3.82 $ 3.41 2010 2011 2012 2010 2011 2012 2010 2011 2012 C1 cash costs per pound1 $ 2.17 $ 1.71 $ 1.08 C3 fully allocated costs per pound1 $ 2.97 $ 2.30 $ 1.40 Increased dividend 33% to Replaced gold reserves A new measure that better 80 cents on an annualized basis in 2012 reflects the total costs of producing gold 1. Non-GAAP financial measure – see pages 79–87 of the 2012 Financial Report. Inferred Resources 2. Calculation based on annualizing the last dividend paid in the respective year. M&I Resources 3. See pages 163–170 of the 2012 Annual Report for additional information on Barrick’s reserves and resources. 2P Reserves Design / Moveable Inc. Merrill Corporation Canada Location Photography Peter Christopher | Ove Brand FINANCIAL HIGHLIGHTS REVENUE OPERATING CASH FLOW ADJUSTED NET EARNINGS1 (US dollars millions) (US dollars millions) (US dollars millions) Barrick’s strategy is focused on maximizing risk-adjusted 14,547 4,666 returns and free cash flow to position the company to 14,236 5,315 5,439 4,585 3,827 return more capital to shareholders over time. 3,517 Cautionary Statement on Forward-Looking Information 10,970 Certain information contained or incorporated by reference in this Annual Report 2012, 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 “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “intend”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions 2012 2011 2010 identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and (In millions of US dollars, except per share data) competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from (Based on IFRS) those projected in the forward-looking statements. Such factors include, but are not limited to: fluctuations in the spot and 0 00 forward price of gold and copper or certain other commodities (such as silver, diesel fuel and electricity); diminishing quantities Revenues $ 14,547 $ 14,236 $ 10,970 or grades of reserves; the impact of inflation; changes in national and local government legislation, taxation, controls, regulations, 2010 2011 2012 2010 2011 2012 2010 2011 2012 Net earnings (loss) (665) 4,484 3,582 expropriation or nationalization of property and political or economic developments in Canada, the United States and other per share (0.66) 4.49 3.63 jurisdictions in which the Company does or may carry on business in the future; the impact of global liquidity and credit Barrick reported record