Corporate Presentation · Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, projects, ... mid-2015 Mine

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Corporate PresentationNovember 2014

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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 ofhistorical fact, are forward-looking statements. The words “believe”, "expect", “anticipate”, “contemplate”, “target”, “plan”, “intend”,“continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward-looking statements. Forward-lookingstatements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherentlysubject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actualresults to differ materially from those projected in the forward-looking statements. 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 and electricity); changesin national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies andpractices, expropriation or nationalization of property and political or economic developments in Canada, the United States and otherjurisdictions in which the company does or may carry on business in the future; failure to comply with environmental and health andsafety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; diminishing quantities orgrades of reserves; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; theimpact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projectedfuture cash flows; adverse changes in our credit rating; the impact of inflation; operating or technical difficulties in connection with miningor development activities; the speculative nature of mineral exploration and development; risk of loss due to acts of war, terrorism,sabotage and civil disturbances; fluctuations in the currency markets; changes in U.S. dollar interest rates; risks arising from holdingderivative instruments; litigation; contests over title to properties, particularly title to undeveloped properties, or over access to water,power and other required infrastructure; business opportunities that may be presented to, or pursued by, us; our ability to successfullyintegrate acquisitions or complete divestitures; employee relations; availability and increased costs associated with mining inputs andlabor; and the organization of our previously held African gold operations and properties under a separate listed company. In addition,there are risks and hazards associated with the business of mineral exploration, development and mining, including environmentalhazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold orcopper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of theseuncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed orimplied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are notguarantees of future performance. All of the forward-looking statements made in this presentation are qualified by these cautionarystatements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadianprovincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.

The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of newinformation, future events or otherwise, except as required by applicable law.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

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2014 Accomplishments to Date

Appointed six new independent Board members (now 10 of 13 independent) and added technical/mining expertise

Established new management structure and shareholder friendly executive compensation plan

Delivered strong operating results – reduced AISC guidance for the second time this year

Identified value creation opportunities at core assets

Advanced deep Nevada project pipeline, including Goldrush

Named Mining Industry Leader by the Dow Jones Sustainability Index

ALL UNDERPINNED BY A DISCIPLINED BUSINESS MODEL

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2014 Financial Highlights

Strong operating and financial results

Narrowed gold production guidance(1) to 6.1-6.4 Moz

Reduced AISC guidance to$880-$920/oz(1,2) − the lowest of senior peers

Increased copper production guidance to 440-460 Mlbs(1)

Narrowed C1 cost guidance range to $1.90-$2.00/lb(1,2)

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

Year-to-date Highlights

EPS ($) (0.05)

Adj. EPS(2) ($) 0.53

OCF ($B) 1.93

Gold Prod. (Koz) 4,712

AISC ($/oz) 844

2014 Guidance

Gold Prod. (Moz) 6.1-6.4

AISC ($/oz) 880-920

Capex ($B) 2.2-2.5

Copper Prod. (Mlb) 440-460

C1 Costs ($/lb) 1.90-2.00

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Cost and Capex Guidance Reductions

(1) See final slide #2. (2) See final slide #1.

AISC ($/oz) Adj. Oper. Costs(1,2) ($/oz)

CAPEX ($B)

980GuidanceRange 940

Original2014

920900

Revisedin Q22014

700

2.7Guidance

Range2.5

Original2014

2.42.2

Revisedin Q22014

1.0

640Guidance

Range630

Original2014

590 580

Revisedin Q22014

400

Revisedin Q32014

920880

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Barrick’s Priorities to Deliver Returns

Restore the balance sheet to a position of strength

Establish deep relationships with key stakeholders

Focus on high-potential assets in core regions

Deliver the full potential of our assets and people

Investments must meet ROI thresholds Improved free

cash flow and shareholder returns

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Put the best people in key roles and enable them to deliver their full potential

Identify value creation potential through efficiencies and cost reduction initiatives

Excelling across every aspect of the company

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Operational Excellence

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Best Assets and Regions

Focus on high potential assets in core regions

Leverage competitive advantages

Strong base of existing high quality mines

Ongoing asset optimization

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Strong Partnerships

Establish deep relationships to drive performance and growth

Strengthen partnerships with key stakeholders

Supports fewer business interruptions and improved productivity

Nevada Governor Brian Sandoval Community Engagement in ChileFreight Shipping Supplier in Peru

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Financial Flexibility

Focus on reducing net debt

Cash Position

$2.7B(2)

$4.0B

Undrawn Credit Facility

(1) As of Sept. 30, 2014. (2) See final slide #5

$0.2B

$0.9B

2014 2015 2016 2017 20180

1.0

2.0

Maintain good liquidity

Scheduled Debt Repayments to 2018(1)

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Balance Sheet Improvements to Date

2013 Initial Actions

$2 billion of capital/cost reductions

Termed out $3 billion in debt

2013 Further Measures

Reduced dividend by 75%

Repaid $2.6 billion of debt through equity issue

2014

Reduced overall AISCguidance by $50/oz

Lowered 5 core mines guidance to $730-$780/oz

Reduced capexguidance by $200 million

$1.4 billion in asset sales since July 2013

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Cortez

Goldstrike

Pueblo Viejo

Veladero

Lagunas Norte

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Cornerstone Mines in the Americas

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Creating Value in the Americas

Cortez Hills Lower Zone prefeasibility expected in late 2015; zone remains open at depth

Goldstrike thiosulfate project on schedule for Q4 2014 South Arturo on track to enter production in early 2016

Pueblo Viejo targeting further throughput and recovery improvements by optimizing ore blend and crush/grind circuit

Lagunas Norte benchmarking studies show opportunities to improve equipment, labor and cost productivity

Veladero benchmarking studies show opportunities to optimize inventory management, productivity, maintenance and energy feed

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Reserve Ounces (Moz)

Reserve Grade (g/t)

30

40

50

60

70

80

90

100

110

120

0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4

2013 Peer Reserves and Grades (1)

Barrick104 M oz

Kinross

Goldcorp

Newcrest

Newmont

(1) Source: Company filings. See final slide #4.

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A Deep Pipeline

Deep pipeline with strong potential to exceed risk-adjusted hurdle rates of return

Advancing several projects in Nevada through the prefeasibility stage (PFS)

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Goldrush

South Arturo

Near MineExploration(1)

Maximize infrastructure, expertise, local relationships

Goldrush PFSmid-2015

Mine Expansions Identified new

opportunities

Turquoise Ridge Shaft #2

PFS inQ1 2015

Orebody Extensions Excellent

optionality on core projects

Cortez HillsLower Zone

PFS inlate 2015

Third Party Opportunities JVs, earn-ins,

or acquisitions with upside potential

SpringValley

PFS in late 2015

(1) See final slide #3

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Portal

Exploration Decline(permit application submitted)

CortezHillsMine

1 mile

(1) See final slide #416

Goldrush – Prefeasibility in Mid-2015

Goldrush Deposit(1)

10 Moz M&I Resources5.6 Moz Inferred Resources

High-grade continuity being established

Very high-grade potentialuntested and open

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Copper Operations

Production guidance improved to 440-460 Mlbs

C1 cash cost guidance narrowed to $1.90-$2.00/lb

Zaldivar remains a steady producer of free cash flow

Significant operational improvements at Lumwana

Jabal Sayid JV to close in Q4 2014; start-up in late 2015

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LumwanaZaldivar Jabal Sayid

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Pascua-Lama Update

Currently on care and maintenance

New Executive Project Director will focus on:– optimizing detailed engineering– improving project economics – developing robust execution

plan for remaining construction

Requires minimum ROI and resolution of permitting and legal matters in Chile to re-start construction

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Community Water Monitoring Program

Ramp-Down Completed

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Securing our License to Operate

Responsible Mining includes protecting social license to operate and human rights

Create shared benefits for stakeholders

Contribute to economic and social development with communities and governments

Pro-actively manage impacts

Strong management systems, aligned with international standards

Named Mining Industry Leader by the Dow Jones Sustainability Index

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Priorities to Deliver Returns

Restore the balance sheet to a position of strength

Establish deep relationships with key stakeholders

Focus on high-potential assets in core regions

Deliver the full potential of our assets and people

Investments must meet ROI thresholds Improved free

cash flow and shareholder returns

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Corporate Governance

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Strengthened the Board

Six new independent Board members added in 2014

Ernie L. Thrasher David Naylor Nancy H.O. Lockhart Brian GreenspunNed Goodman J. Michael Evans

Increased independence to 10 out of 13; 5 long-serving directors stepped down Added technical/mining expertise Audit, Corporate Governance and Compensation committees

are fully independent Enhanced committee mandates and independence Adoption of Advance Notice By-Law facilitates full

shareholder participation in director election process

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Revamped Executive Compensation

New compensation package is among the most shareholder friendly in Canada

For participating executives:– awards of short-term and long-term incentive compensation

are 100% performance-based and measured on transparent scorecards disclosed in advance

– majority of compensation (75%) is in long term Performance Granted Share Units (PGSUs) which convert to shares after 3 years and must be held until termination of employment

For all officers:– progressive Clawback Policy exceeds Dodd-Frank provisions

– eliminated stock options

– market leading minimum share ownership requirements

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New Executive Management StructureBarrick Leadership: A Year of Transition

April 30 John L. Thornton assumed the role of Chairman of the Board

July 16 Kelvin Dushnisky and Jim Gowans appointed Co-Presidents

Strong Executive Management Team

Kelvin DushniskyCo-President

Jim GowansCo-President

Shaun UsmarSenior Executive Vice President and CFO

Designate

Kevin ThomsonSenior Executive Vice President, Strategic

Matters

Darian RichExecutive Vice

President, Talent Management

Structural EnhancementsReduced layers of management

More responsibility and accountability at the operating level

Co-President structure is mirrored with mine managers and executive directors

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Appendix: Guidance

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2014 Operating Guidance

Current Previous

Gold Production(000's of ounces)

AISC($ per ounce)

Production(000's of ounces)

AISC($ per ounce)

Cortez 880-920 750-780 (high end) 925-975 (low end) 750-780 (high end)

Goldstrike 865-915 870-900 865-915 (high end) 920-950 (low end)

Pueblo Viejo (60%) 600-700 510-610 600-700 510-610 (high end)

Lagunas Norte 570-610 590-620 570-610 (high end) 640-680 (low end)

Veladero 680-720 890-920 650-700 (high end) 940-990 (low end)

Sub Total 3,700-3,900 730-780 3,800-4,000 750-800

North America Portfolio 795-845 (high end) 980-1,000 795-845 1,075-1,100 (low end)

Australia Pacific 1,050-1,125 885-910 1,000-1,080 (high end) 1,050-1,100 (low end)

African Barrick Gold 430-460 (above high end) 1,100-1,175 (low end) 430-460 (above high end) 1,100-1,175 (low end)

Total Gold 6,100-6,400 880-920 6,000-6,500 900-940

Copper Production(millions of pounds)

C1 cash costs($ per pound)

Production(millions of pounds)

C1 cash costs($ per pound)

Total Copper 440-460 1.90-2.00 410-440 1.90-2.10

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2014 Financial Guidance

(dollars millions) Current Previous

G&A 380-400 380-400Other Expense 475-525 475-525Finance Costs 800-825 800-825Exploration & Evaluation 200-240 200-240CAPEXMine Site Sustaining 1,800-2,000 1,800-2000Mine Site Expansion 300-375 300-375Projects 100-125 100-125

Total CAPEX 2,200-2,500 2,200-2,500

Effective Income Tax Rate (%) ~50 ~50

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Footnotes

1. Adjusted net earnings per share, adjusted operating costs per ounce, all-in sustaining costs per ounce (“AISC”) and C1 cash costs per pound are non-GAAP financial performance measures with no standardized definitions under IFRS. See pages 46-51 of Barrick’s Third Quarter 2014 Report.

2. 2014 guidance is based on gold, copper, silver and oil price assumptions of $1,200/oz, $3.10/lb, $17/oz, and $90/bbl, respectively, a AUS:US exchange rate of $0.91 and an ARS:US exchange rate of 8.5:1.

3. Barrick’s exploration programs are designed and conducted under the supervision of Robert Krcmarov, Senior Vice President, Global Exploration of Barrick.

4. As of December 31, 2013. Calculated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. For a breakdown, see pages 29-37 of Barrick’s 2013 Form 40-F/Annual Information Form.

5. Includes $287 million held at ABG and $270 million held at Pueblo Viejo, which may not be readily deployed outside of ABG and Pueblo Viejo, respectively.