Barrick Gold Corporation Brookfield Place, TD Canada Trust Tower Suite 3700, 161 Bay Street, P.O. Box 212 Toronto, ON M5J 2S1 Annual Information Form For the year ended December 31, 2018 Dated as of March 22, 2019 BARRICK GOLD CORPORATION ANNUAL INFORMATION FORM TABLE OF CONTENTS GLOSSARY OF TECHNICAL AND BUSINESS TERMS 4 REPORTING CURRENCY, FINANCIAL AND RESERVE INFORMATION 10 FORWARD-LOOKING INFORMATION 11 SCIENTIFIC AND TECHNICAL INFORMATION 14 THIRD PARTY DATA 15 GENERAL INFORMATION 15 Organizational Structure 15 Subsidiaries 16 Areas of Interest 18 General Development of the Business 18 History 18 Significant Acquisitions 18 Strategy 19 Recent Developments 21 Results of Operations in 2018 22 NARRATIVE DESCRIPTION OF THE BUSINESS 26 Production and Guidance 26 Reportable Operating Segments 26 Barrick Nevada 27 Pueblo Viejo (60% basis) 28 Lagunas Norte 29 Veladero (50% basis) 29 Turquoise Ridge (75% basis) 30 Acacia Mining plc (63.9% basis) 31 Pascua-Lama Project 32 Mineral Reserves and Mineral Resources 33 Marketing and Distribution 46 Employees and Labor Relations 47 Competition 48 Sustainability 48 Operations in Emerging Markets: Corporate Governance and Internal Controls 49 Board and Management Experience and Oversight 50 Communications 51 - i - Internal Controls and Cash Management Practices 51 Managing Cultural Differences 52 Books and Records 52 MATERIAL PROPERTIES 52 Cortez Property 52 Goldstrike Property 58 Turquoise Ridge Mine 63 Pueblo Viejo Mine 69 Veladero Mine 76 Kibali Mine 86 Loulo-Gounkoto Mine Complex 93 EXPLORATION AND EVALUATIONS 99 ENVIRONMENT 105 LEGAL MATTERS 109 Government Controls and Regulations 109 Legal Proceedings 113 RISK FACTORS 126 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 148 CONSOLIDATED FINANCIAL STATEMENTS 148 CAPITAL STRUCTURE 148 RATINGS 149 MARKET FOR SECURITIES 151 MATERIAL CONTRACTS 152 TRANSFER AGENTS AND REGISTRARS 154 DIVIDEND POLICY 154 DIRECTORS AND OFFICERS OF THE COMPANY 155 AUDIT & RISK COMMITTEE 162 Audit & Risk Committee Mandate 162 - ii - Composition of the Audit & Risk Committee 162 Relevant Education and Experience 162 Participation on Other Audit Committees 164 Audit & Risk Committee Pre-Approval Policies and Procedures 164 External Auditor Service Fees 164 INTERNAL CONTROL OVER FINANCIAL REPORTING AND DISCLOSURE CONTROLS AND PROCEDURES 164 NON-GAAP FINANCIAL MEASURES 166 INTERESTS OF EXPERTS 184 ADDITIONAL INFORMATION 184 ENDNOTES 185 SCHEDULE “A” AUDIT & RISK COMMITTEE MANDATE A-1 - iii - GLOSSARY OF TECHNICAL AND BUSINESS TERMS Assay A chemical analysis to determine the amount or proportion of the element of interest contained within a sample, typically base metals or precious metals. Autoclave Oxidation process in which high temperatures and pressures are applied within a pressurized closed vessel to convert refractory sulfide mineralization into amenable oxide ore. By-product A payable secondary metal or mineral product that is recovered along with the primary metal or mineral product during the concentration process. Carbonaceous Naturally occurring carbon present in the ore from the decay of organic material which can result in an inadvertent loss of precious metals during the cyanidation process. Carbon-in-column (CIC) A method of recovering gold and silver from solution following cyanidation in the process by adsorption of the precious metals onto prepared carbon (burnt coconut shell). Carbon-in-leach (CIL) A recovery process in which precious metals are dissolved from finely ground ore during cyanidation and simultaneously adsorbed on relatively coarse activated carbon (burnt coconut shell) granules. The loaded carbon particles are separated from the slurry and recycled in the process following precious metal removal and reactivation through chemical and thermal means. Concentrate A product from a mineral processing facility such as gravity separation or flotation in which the valuable constituents have been upgraded and unwanted gangue materials rejected as waste. Contained ounces A measure of in-situ or contained metal based on an estimate of tonnage and grade. Crushing A unit operation that reduces the size of material delivered as run of mine ore for further processing. Cut-and-fill A method of stoping in which ore is removed in slices, or lifts, and then the excavation is filled with rock or other waste material (backfill), before the subsequent slice is extracted. Cut-off grade A calculated minimum metal grade at which material can be mined and processed at break-even cost. Development Work carried out for the purpose of preparing a mineral deposit for production. In an underground mine, development includes shaft sinking, crosscutting, drifting and raising. In an open pit mine, development includes the removal of overburden and/or waste rock. - 4 - Dilution The effect of waste or low-grade ore which is unavoidably included in the mined ore, lowering the recovered grade. Doré Composite gold and silver bullion usually consisting of approximately 90% precious metals that will be further refined to separate pure metals. Drift A horizontal tunnel generally driven within or alongside an orebody and aligned parallel to the long dimension of the ore. Drift-and-fill A method of underground mining used for flat-lying mineralization or where ground conditions are less competent. Drilling Core: a drilling method that uses a rotating barrel and an annular-shaped, diamond-impregnated rock- cutting bit to produce cylindrical rock cores and lift such cores to the surface, where they may be collected, examined and assayed. Reverse circulation: a drilling method that uses a rotating cutting bit within a double-walled drill pipe and produces rock chips rather than core. Air or water is circulated down to the bit between the inner and outer wall of the drill pipe. The chips are forced to the surface through the center of the drill pipe and are collected, examined and assayed. Conventional rotary: a drilling method that produces rock chips similar to reverse circulation except that the sample is collected using a single-walled drill pipe. Air or water circulates down through the center of the drill pipe and returns chips to the surface around the outside of the pipe. In-fill: the collection of additional samples between existing samples, used to provide greater geological detail and to provide more closely-spaced assay data. Exploration Prospecting, sampling, mapping, diamond-drilling and other work involved in locating the presence of economic deposits and establishing their nature, shape and grade. Flotation A process that concentrates minerals by taking advantage of specific surface properties and applying chemicals such as collectors, depressants, modifiers and frothers in the presence of water and finely dispersed air bubbles. Grade The concentration of an element of interest expressed as relative mass units (percentage, parts per million, ounces per ton, grams per tonne, etc.). Grinding (Milling) Involves the size reduction of material fed to a process plant though abrasion or attrition to liberate valuable minerals for further metallurgical processing. - 5 - Heap leaching A process whereby precious or base metals are extracted from stacked material placed on top of an impermeable plastic liner and after applying leach solutions that dissolve and transport valuable metals for recovery in the process plant. Lode A mineral deposit, consisting of a zone of veins, veinlets or disseminations, in consolidated rock as opposed to a placer deposit. Long-hole open stoping A method of underground mining involving the drilling of holes up to 30 meters or longer into an ore bearing zone and then blasting a slice of rock which falls into an open space. The broken rock is extracted and the resulting open chamber may or may not be back filled with supporting material. Metric conversion Troy ounces × 31.10348 = Grams Troy ounces per short ton × 34.28600 = Grams per tonne Pounds × 0.00045 = Tonnes Tons × 0.90718 = Tonnes Feet × 0.30480 = Meters Miles × 1.60930 = Kilometers Acres × 0.40468 = Hectares Fahrenheit (°F-32) × 5 ÷ 9 = Celsius Mill A facility where ore is finely ground and thereafter undergoes physical or chemical treatment to extract the valuable metals. Mineral reserve The economically mineable portion of a measured or indicated mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A mineral reserve includes diluting materials and allowances for losses that may occur when the material is mined. Mineral reserves are sub-divided in order of increasing confidence into probable mineral reserves and proven mineral reserves. Probable mineral reserve: the economically mineable portion of an indicated and, in some circumstances, a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. Proven mineral reserve: the economically mineable part of a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting,