MINING FOR A NEW WORLD

1 Annual Report 2020 Delivering the futureMINING FOR A NEW WORLDB arrick Gold Corporationis a business, and like any commercial enterprise it has to change with the times if it is to survive, let alone prosper. In recent years, the WORLD has changed fundamentally, with paradigms shifting almost beyond recognition. Artificial intelligence is transforming the way we communicate, make decisions and execute them. Growing concerns about climate change as well as race and gender inequality are driving thousands of protesters into the streets. Governments have responded to their demands through legislation; major funds have made the newly minted metric, ESG, a prime investment has not needed to respond hastily to changing values and expectations.

2 Social responsibility, protection of the environment, partnership with its host countries, care for its employees and concern for human rights have always been core components of its overall strategy, which is to be the WORLD s most valued gold company, in every sense of the word valued . That is why Barrick is not only an industry leader in technological innovation but is setting the pace for MINING s cultural alignment with the modern otherwise indicated, all amounts are expressed in US : GOLD TSX : highlights 2 Key performance indicators4 Corporate profile6 Our global business8 Our Tier One assets10 Letter from the Executive Chairman12 Board of directors14 Message from the President and CEO18 Executive committee20 Financial review22 Gold market overview24A new generation of leadersCONTENTSM ining26 MINING for a better world34 Our regions and operations40 Reserves and resources42 Exploration47 Endnotes48 Financial report Barrick Gold Corporation | Annual Report 202012020 STRATEGY DRIVES DELIVERYJanDecNovOctSepAugJulJunMayFebMa rApr2021$Barrick back in business in Tanzania.

3 Settles all legacy disputesQ4/19 dividend increased 40% to 7 cents per share1 Gold reserves increased at higher grades compared to the previous yearCombination of Barrick s Massawa project with Teranga s Sabodala project completedCovid-19 response plans activated at all sitesCovid-19 support program for host countries launchedShipping of gold concentrate stockpiled from Bulyanhulu and Buzwagi resumesBarrick challenges non-extension of Porgera special MINING leaseQ1/2 0 dividend of 7 cents per share declaredFirst $10 0m tranche of $300m settlement paid to the Government of TanzaniaKibali commissions new battery technology to further offset the need for diesel generatorsDisinvestment in non-core interests continues as Barrick focuses on Tier Onei assetsNevada Gold Mines (NGM)exceeds all expectations in first yearQ2/20 dividend increased 14% to 8 cents per share1 Sale of Morila stake announced in line with focus on Tier One assetsAchieved $ target in non-core asset sale proceedsPueblo Viejo plant expansion receives Environmental Impact Assessment approvalUnderground MINING resumed at BulyanhuluLoulo-Gounkoto pioneers first solar power project in the Africa and Middle East regionBarrick sells interests in Eskay CreekTwiga pays maiden dividend of $250mBarrick sells interests in BullfrogQ3/20 dividend increased to 9 cents per share1 Barrick retains its listing in the prestigious Dow Jones sustainability WORLD Index for the 13th consecutive yearGROUP GOLD PRODUCTION MOZNET EARNINGS$2,324 MILLIONDEBT, NET OF CASH101%($33)

4 MILLIONADJUSTED NET EARNINGS PER SHAREi125%$ PER SHARE265%TO $ 2020 HIGHLIGHTS11 Compared to 2019 unless otherwise noted. 2 Declared in respect of the 2020 fiscal year compared to the 2019 fiscal INCIDENTSZERO CLASS 1iNYSE SHARE PRICE23%NET CASH PROVIDED BY OPERATING ACTIVITIES91% $5,417 MILLI O NFREE CASH FLOWi197%$3,363 MILLION$1,020 - 1,070/OZ COST OF - PRODUCTION$680 - 730/OZTOTAL CASH COSTSi2021 GUIDANCEii $970 - 1,020/OZ AISCi$1,800 - 2,100 MILLION TOTAL ATTRIBUTABLE GOLD & COPPER CAPEX15202530$Share Price 23%Barrick Share Price (NYSE : GOLD) $ - 2 .10/lb COST OF SALESi410 - 460 MlbCOPPER PRODUCTION$ - CASH COSTSi$ - 2 .20/lb AISCiZero debt, net of cash from $ in 2013 Operating cash flow of $ , record annual free cash flowi of $ dividend of 9 cents per share declared, up 3x since the Randgold merger announce-ment$750m proposed return of capital to shareholders1 Compared to the prior Report 2020 | Barrick Gold Corporation2 Barrick Gold Corporation | Annual Report 20203 Key perfor mance indicators$EPS$ millionDEBT, NET OF CASH$ million$DIVIDEND PER SHARE1$/oz$/lbMarket gold price ($/oz)Market copper price ($/lb)

5 GOLD AND COPPER PRICE $$ millionNET CASH PROVIDED BY OPERATING ACTIVITIES$ millionFREE CASH FLOWiADJUSTED EPSiPROJECT CAPITAL EXPENDITURES21 Declar ed in respect of the 2018, 2019 or 2020 fiscal Amounts presented on a consolidated cash 1iClass 2iAnnual Report 2020 | Barrick Gold Corporation12 Barrick Gold Corporation | Annual Report 202013 MozGOLD PRODUCTION MlbCOPPER PRODUCTION$/ozGOLD COST OF SALESi$/lbCOPPER COST OF SALESi$/ozGOLD TOTAL CASH COSTSi$/lbCOPPER C1 CASH COSTSi$/ozGOLD AISCi$/lbCOPPER AISCiSAFETY FREQUENCY RATE STATISTICSENVIRONMENTAL INCIDENTSLost Time Injury Frequency Rate (LTIFR)iTotal Recordable Injury Frequency Rate (TRIFR) ,0001,0501, , ,5002,2503,0003,7504, ,0001,2001,4001,6001,8002,0002,20001,000 2,0003,0004,0005,0006,000202020192018050 01,0001,5002,0002,5003,0003,5004, 19Q1 20Q2 20Q3 20Q4 20Q3 19Q2 19Q1 19Q4 18Q3 18Q2 18Q1 18202020192018202020192018strategy drives performance.

6 In the two years since the completion of the merger with Randgold, we have made considerable progress towards our goal of delivering the industry s best returns. These achievements were produced on the foundation of a WORLD -class asset base, a fit-for-purpose structure and an agile leadership team who have more than lived up to our best people clear4 Annual Report 2020 | Barrick Gold Corporationis a sector-leading gold and copper producer. Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.

7 Nevada Gold Mines is the WORLD s largest gold MINING owns and operates six Tier One gold mines: Cortez, Carlin and Turquoise Ridge in Nevada, Loulo-Gounkoto in Mali, Kibali in the Democratic Republic of Congo and Pueblo Viejo in the Dominican has gold and copper mines and projects in 13 countries in North and South America, Africa, Papua New Guinea and Saudi Arabia. Barrick s diversified portfolio spans the WORLD s most prolific gold districts and is focused on high-margin, long-life to build the WORLD s most valued gold company by owning the best assets, managed by the best people to deliver the best visionBarrick Gold CorporationBarrick Gold Corporation | Annual Report 20205 Asset qualityOur strategic targets Grow our portfolio of Tier One gold mines as well as other strategic assets with an emphasis on organic growth Invest in exploration across extensive land positions in the WORLD s most prolific gold districts Maximize the long-term value of our strategic copper business Bring non-core assets to account in a carefully calculated mannerOperational excellence Strive for zero harm workplaces Operate a flat management structure with a strong ownership culture Streamline management and operations with managers accountable for the businesses they run Leverage

8 Innovation and technology to promote industry-leading efficiencies Build trust-based partnerships with host governments, business partners and local communities to drive shared long-term valueSustainable profitability Follow a disciplined approach to growth and proactively manage impacts on the wider environment, emphasizing long-term value for all stakeholders Increase returns to shareholders, driven by a focus on return on capital, internal rate of return and free cash flowiAnnual Report 2020 | Barrick Gold Corporation6 Barrick Gold Corporation | Annual Report 20207 Nevada Gold Mines ( )Turquoise Ridge Complex2100% Production: 537kozAttributable Production: 330kozP&P Reservesi: Resources3,i: 10 MozInferred Resources3,i: Complex2100% Production: 1,665kozAttributable Production: 1,024kozP&P Reservesi: 12 MozM&I Resources3,i: 19 MozInferred Resources3,i: Complex2100% Production: 799kozAttributable Production: 491kozP&P Reserves4,i: Resources3,4,i: 12 MozInferred Resources3,4,i: (100%)M&I Resourcesi: Resourcesi: ( )P&P Reservesi: Resources3,i: Resources3,i: (100%)Inferred Resourcesi: (100%)M&I Resourcesi: 21 MozInferred Resourcesi: Sunlight (100%)Zald var (50%)100% Production: 212 MlbAttributable Production: 106 MlbP&P Reservesi: Resources3,i: Resources3,i: 270 MlbCHILEUSAD onlin Gold (50%)M&I Resourcesi: 20 MozInferred Resourcesi: (100%)Production: 223kozP&P Reservesi: Resources3,i: Resources3,i: Viejo 2 (60%)100% Production.

9 903kozAttributable Production: 542kozP&P Reservesi: Resources3,i: 15 MozInferred Resources3,i: (50%)100% Production: 452kozAttributable Production: 226kozP&P Reservesi: Resources3,i: Resources3,i: Corporate office, TorontoLagunas Norte5 (100%)Pierina (100%)PERUB ulyanhulu (84%)100% Production: 52kozAttributable Production: 44kozP&P Reservesi: Resources3,i: Resources3,i: (84%)100% Production: 100kozAttributable Production: 84kozP&P Reservesi: Resources3,i: Complex2 (80%)100% Production: 680kozAttributable Production: 544kozP&P Reservesi: Resources3,i: Resources3,i: Mara (84%)100% Production: 311kozAttributable Production: 261kozP&P Reservesi: Resources3,i: Resources3,i: (100%)Production: 276 MlbP&P Reservesi: Resources3,i: 12 BlbInferred Resources3,i: 12 MlbZAMBIAJ abal Sayid (50%)100% Production: 150 MlbAttributable Production: 75 MlbP&P Reservesi: 620 MlbM&I Resources3,i: 790 MlbInferred Resources3,i: 79 MlbSAUDI ARABIAT ongon ( )100% Production: 284kozAttributable Production: 255kozP&P Reservesi: Resources3,i: Resources3,i: TE D IVOIREP orgera ( )P&P Reservesi: Resources3,i: Resources3,i: NEW GUINEAK ibali2 (45%)100% Production: 808kozAttributable Production: 364kozP&P Reservesi: Resources3,i: Resources3,i: REPUBLIC OF CONGOCANADADOMINICAN REPUBLICARGENTINA Gold producing Projects Copper producing In closure Care and maintenance Corporate office1 All figures as at December 31, 2020.

10 2 Tier One Mineral resources are reported inclusive of mineral Mineral reserves and resources at Cortez are reported inclusive of In Q1 2021, Barrick announced the sale of Lagunas Norte to Boroo Pte Ltd (Singapore).Our global business1 Norte Abierto (50%)P&P Copper Reservesi: Copper Resources3,i: Copper Resources3,i: Gold Reservesi: 12 MozM&I Gold Resources3,i: 22 MozInferred Gold Resources3,i: Report 2020 | Barrick Gold Corporation8 Barrick Gold Corporation | Annual Report 20209 Our Tier One assetsCarlin Complex consists of multiple open pit and underground mines and several processing facilities. These include two roasters, an autoclave, an oxide mill and heap leach pads. The Carlin Trend is the most signif