Exhibit 99.1

Annual Report 2021 Building our future

Contents 001 2021 Highlights    001 2022 Guidance    002 Key performance indicators 004 Who we are 005 Our global business 006 Why invest in Barrick? 007 Building our future 008 Letter from the Executive Chairman 010 Board of directors 012 Message from the President and CEO 016 Executive committee 018 Financial review 020 Gold market overview 021 Copper market overview 022 Our regions and operations 034 Reserves and resources 036 Exploration 040 Mining sustainably for a better future 047 Endnotes 048 Financial report    Barrick Gold Corporation NYSE : GOLD • TSX : ABX www.barrick.com Unless otherwise indicated, all amounts are expressed in US dollars.    

2021 Highlights 4.4 GROUP GOLD PRODUCTION $2,022 NET EARNINGS DEBT,NET OF CASH    Moz $(130) Production guidance achieved for 3rd consecutive year MILLION MILLION SHAREHOLDER DISTRIBUTION RECORD CASH DISTRIBUTION ADJUSTED NET EARNINGS PER SHARE TO SHAREHOLDERS PER SHAREi 139% $1.4 $1.16    TO $0.79 BILLION NET CASH PROVIDED BY    OPERATING $4,378 ACTIVITIES $1,943 FREE CASH FLOWi ISO 100 45001 AND ISO % 14001 MILLION MILLION of operational sites certified    1 Declared in respect of the 2021 fiscal year, compared to the 2020 fiscal year. 2022 guidanceii    GOLD PRODUCTION COST OF SALESi TOTAL CASH COSTSi AISCi    4.2—4.6Moz $1,070—1,150/oz $730—790/oz $1,040—1,120/oz COPPER PRODUCTION COST OF SALESi C1 CASH COSTSi AISCi    420—470Mlb $2.20—2.50/lb $1.70—1.90/lb $2.70—3.00/lb TOTAL ATTRIBUTABLE GOLD & COPPER CAPEXi    $1,900—2,200million b Barrick Gold Corporation|Annual Report 2021 001    

Key performance indicators GOLD PRODUCTION GOLD COST OF SALESi GOLD TOTAL CASH COSTSi GOLD AISCi Moz $/oz $/oz $/oz 7 1,200 800 1,200 6 700 1,000 1,000 600 5 800 800 4 500 600 400 600 3 300 400 400 2 200 1 200 200 100 0 0 0 0 2019 2020 2021 2019 2020 2021 2019 2020 2021 2019 2020 2021 COPPER PRODUCTION COPPER COST OF SALESi COPPER C1 CASH COSTSi COPPER AISCi Mlb $/lb $/lb $/lb 500 2.50 2.00 3.00 2.50 400 2.00 1.50 2.00 300 1.50 1.00 1.50 200 1.00 1.00 0.50 100 0.50 0.50 0 0.00 0.00 0.00 2019 2020 2021 2019 2020 2021 2019 2020 2021 2019 2020 2021 SAFETY FREQUENCY ENVIRONMENTAL    RATE STATISTICS INCIDENTS 2021 REVENUE 285 2.50 2.24 20 962 2.00 16 1.68 1.47 13 1.50 12 1.00 8 8 US$ million 0.50 5 0.50 0.34 0.38 4 0.00 0 0 0 0 2019 2020 2021 Lost Time Injury Frequency Rate (LTIFR)i 2019 2020 2021 10,738 Total Recordable Injury Frequency Rate (TRIFR)i Class 1i Class 2i Gold Copper Other 002 Annual Report 2021| Barrick Gold Corporation    

RRACCARCNET CASH PROVIDED BY SHAREHOLDER    OPERATING ACTIVITIES FREE CASH FLOWi DEBT, NET OF CASH DISTRIBUTION PER SHARE1 $ million $ million $ million $    6,000 4,000 3,000 0.90 4,800 3,200 2,250 0.72 3,600 2,400 1,500 0.54 2,400 1,600 750 0.36 1,200 800 0 0.18 0 0 -750 0.00 2019 2020 2021 2019 2020 2021 2019 2020 2021 2019 2020 2021 Base dividend Return of capital 1 Declared in respect of the 2019, 2020 or 2021 fiscal year. PROJECT CAPITAL    NET EPS ADJUSTED NET EPSi EXPENDITURES2,i GOLD AND COPPER PRICE    $ $ $ million $/oz $/lb 2.50 1.20 800 2,500 5.50 2.00 0.96 640 2,000 4.60 1.50 0.72 480 1,500 3.70 1.00 0.48 320 1,000 2.80 0.50 0.24 160 500 1.90 0.00 0.00 0 0 1.00 2019 2020 2021 2019 2020 2021 2019 2020 2021 2019 2020 2021 2 On a consolidated cash basis. Market gold price Market copper price    2021 GEOGRAPHIC DISTRIBUTION 2021 GEOGRAPHIC DISTRIBUTION OF GOLD PRODUCTION OF COPPER PRODUCTION    660 97 Thousand Million ounces pounds attributable 2,186 attributable 1,591 318 North America Africa & Middle East Latin America & Asia Pacific Africa & Middle East Latin America & Asia Pacific Barrick Gold Corporation|Annual Report 2021 003

Who we are Our business We are a sector-leading gold and copper producer, operating mines and projects in 18 countries in North and South America, Africa, Papua New Guinea and Saudi Arabia. Our portfolio spans the world’s most prolific gold and copper districts and is focused on high-margin, long-life assets. Our highly diversified workforce is drawn almost entirely from our host nations and equipped with world-class skills. Our purpose We are building the world’s most valued gold and copper company by owning the best assets, managed by the best people to deliver the best returns and benefits to all our stakeholders. Our strategy We plan for the long term and continuously invest in sustainable growth, with resource-based plans for all our mines and worldwide exploration programs designed to deliver a steady stream of new business opportunities. We partner with our stakeholders to achieve the best outcomes. 004 Annual Report 2021| Barrick Gold Corporation    

Our global business Donlin Gold (50%) Nevada Gold Mines1 (61.5%) Tongon (89.7%) Golden Sunlight (100%) Loulo-Gounkoto1 (80%) Hemlo (100%) Jabal Sayid (50%) Corporate office, Toronto Pueblo Viejo1 (60%) Fourmile (100%) Porgera (47.5%) Pierina (100%) Kibali1 (45%) North Mara (84%) Zaldívar (50%) Pascua-Lama (100%) Bulyanhulu (84%) Norte Abierto (50%) Alturas (100%) Buzwagi (84%) Lumwana (100%) Veladero (50%)    Gold producing In closure    Projects Care and maintenance    Copper producing Corporate office A world-class company needs an expanding global presence in order to bring fresh opportunities within its grasp and to balance its geographic risks. Long well-established    LQ_WKH_PDMRU_JROGÀHOGV_RI_$IULFD_DQG_WKH_$PHULFDV__ZH_KDYH_ODWHO¥_EHHQ_H[WHQGLQJ_RXU_ SUHVHQFH_LQWR_WKH_JHRORJLFDO_KXQWLQJ_ÀHOGV_RI_WKH_1XELDQ_6KLHOG_LQ_WKH_0LGGOH_(DVW__ WKH_(O_,QGLR_%HOW_LQ_6RXWK_$PHULFD_DQG_WKH_SURVSHFWLYH_UHJLRQV_RI_WKH_3DFLÀF_5LP_ 1 Tier One mine. Barrick Gold Corporation|Annual Report 2021 005    

Why invest in Barrick? Best asset base Largest portfolio of best in class Tier Onei gold assets and producing copper mines that is unmatched in the industry, with several more waiting in the wings. Longest pipeline We have a long record of exploration success and we constantly feed new targets and projects into the pipeline that will support our future growth. Our exploration drive is extending its reach and broadening our horizons into new prospective regions. Replenished reserves Uniquely in an industry running out of resources, we continue to replace the ounces we mine with reserves of at least the same quality through extensive brownfields exploration around our existing operations. This not only preserves our asset base but lengthens the lives of these mines. Robust balance sheet The free cash flowi generated by our operations has delivered a balance sheet unburdened by debt and with a substantial cash component, freeing us to invest in growth projects and new prospects. Clear runway All our mines have 10-year business plans – in some cases being rolled out to 15 and 20 years – which are firmly anchored in demonstrable geological, engineering and commercial reality. 006 Annual Report 2021| Barrick Gold Corporation

Building our future %DUULFN_SODQV_IRU_WKH_ORQJ_WHUP_DQG_RXU_FDVK_JHQHUDWLQJ_FDSDFLW¥_HQDEOHV_XV_WR_LQYHVW_ LQ_WKH_GLVFRYHU¥_RI_QHZ_RSSRUWXQLWLHV_DV_ZHOO_DV_WKH_HQKDQFHPHQW_DQG_H[WHQVLRQ_RI_RXU_ H[LVWLQJ_DVVHWV_³_DOO_LQ_VXSSRUW_RI_RXU_FRPPLWPHQW_WR_VXVWDLQDEOH_SURÀWDELOLW¥___7KH_SDVW_ ¥HDU_DJDLQ_SURYLGHG_SURRI_RI_WKLV_VWUDWHJ¥·V_HIIHFWLYHQHVV__DV_WKHVH_FDVH_VWXGLHV__LQFOXGHG_ HOVHZKHUH_LQ_WKLV_UHSRUW__DWWHVW_ Unlocking Nevada’s potential Page 025 Transforming Pueblo Viejo Page 029 Resurrecting Bulyanhulu Page 033 Replenishing our reserves    Page 035 Advancing to net zero    Page 046 Barrick Gold Corporation|Annual Report 2021 007    

Letter from the Executive Chairman By any measure one applies – returns to shareholders, strength of balance sheet, peerless assets, prospect pipeline – Barrick has been transformed across all aspects of the business and has again delivered a strong performance, exceeding expectations with gold and copper production within guidance for the third year in succession. It is worth noting that at the time of the Randgold merger announcement in September 2018 (the “Merger”), Barrick had a net debt burden in excess of $4 billion. Since then, it has not only moved into a net cash position, but has returned $2.5 billion of cash to shareholders, including last year’s record distribution of $1.4 billion. After careful consideration of our capital allocation, the Board has settled on a new dividend policy of a base dividend with an additional performance dividend linked to the net cash on the balance sheet starting in 20221. We believe this will give shareholders guidance on future dividend streams. The Board has also approved a $1 billion share buyback plan2 which will afford us the opportunity to acquire our shares when they are trading below what we consider to be their intrinsic value. „ It is disappointing that neither Barrick’s robust performance nor its outstanding prospects are currently recognized in Barrick’s share price, particularly as the company’s investment thesis is so compelling. Barrick is built on a foundation of six    Tier One gold mines with rolling 10-year plans, providing a stable and sustainable production profile, delivering a robust business capable of generating substantial cash flow for the next decade and beyond. Three years after Barrick started „ We have one of the strongest balance sheets in the gold    on its new journey, the company mining sector.    „ Barrick has a distinctive partnership culture, both within the is clearly achieving its goal of company’s management structure and in our relationships industry-leading value creation with external partners. Our ownership culture is deep and broad across the organization and reinforces the importance DQG_VXVWDLQDEOH_SURÈ´WDELOLW¥__DV_WKH_ we place on creating long-term value for our stakeholders, results for 2021 show. now and into the future. „ We continue to deliver peer-leading returns to shareholders based on our dividend and capital returns policy. „ Our rigorous focus on performance and execution against our sustainability strategy enables us to develop and maintain trusted long-term partnerships with all our stakeholders and host countries. In an industry first, we published an open and honest assessment of our actions in the form of a scorecard in our Sustainability Report for 2019. The third    1 The declaration and payment of dividends is at the discretion of the of these scorecards will appear in the 2021 Sustainability Board of Directors, and will depend on the company’s financial results, Report, scheduled for publication in the second quarter cash requirements, future prospects, the number of outstanding common    of 2022. Like its predecessors it will objectively track our    shares, and other factors deemed relevant by the Board. 2 The actual number of common shares that may be purchased, if any, and progress against key metrics and highlight areas which the timing of any such purchases, will be determined by Barrick based still require improvement, providing stakeholders with a on a number of factors, including the company’s financial performance, the availability of cash flows, and the consideration of other uses of cash, valuable insight into this important part of our business as including capital investment opportunities, returns to shareholders, and well as demonstrating Barrick’s embedded commitment to    debt reduction. Environmental, Social and Governance (ESG) leadership.    008 Annual Report 2021| Barrick Gold Corporation

RRCCARAC„ Our clean energy strategy is based on science and designed to While much has been achieved over the past three years, there is ensure we remain sustainably profitable. still a great deal to be done. We have set out 10-year business    „ We are maintaining our exceptional record of exploration plans for all the operations to guide our management teams on success, last year replacing the reserves we mined at a better the road ahead and to provide investors with insight into their grade and identifying many opportunities for new brownfield performance. I thank Mark Bristow and his team for the great and greenfield discoveries. progress they have already made and have every confidence in    „ Barrick has an industry-leading project portfolio and only their ability to continue to deliver. pursues growth opportunities that meet our investment criteria. I also thank my fellow directors on the Board of Barrick as well as Financial discipline and a commitment to very specific investment the members of the International Advisory Board for their close filters, along with a clear strategic vision, have delivered the engagement with the company and their discerning advice that Barrick of today. It is not about the short term but about being ensured our adherence to the highest standards of corporate sustainably profitable while building an integrated, modern mining governance. business which will benefit all stakeholders and be acceptable to We appointed our third female director last year: Helen Cai, a future generations. highly experienced finance and investment professional with To achieve this, we need not only to replace and grow our long experience in equity markets. She brings to the Board reserves but also to attract and nurture the best people to manage a deep understanding of China, which is a leading producer our best-in-class assets. We continue to invest in sourcing, and consumer of gold as well as the biggest driver of copper recruiting and developing this talent and we promote an inclusive, demand, and will enhance our existing partnerships with Chinese agile, accountable culture of ownership. Our policy of giving companies. She will also provide us with a distinct competitive preference to host country nationals – who account for 96% of all advantage elsewhere as we continue to compete for Tier One employees – has created a multi-cultural, multi-generational assets globally. workforce, whose natural diversity is uniquely aligned to the On behalf of the Board, I thank you for your support in 2021. We demands of a changing world. look forward to continuing our partnership in the coming years. It is also essential to remain at the forefront of technological innovation and the continuing development of our digital strategy has provided an integrated database and vertical connectivity across the group. Real-time information and analysis give much quicker insight into our key cost drivers and increase the potential for efficiency analysis, benchmarking and other value-added reporting. Continuing investment in new technology is also keeping Barrick’s mines abreast of new developments in John L Thornton automated mining. Executive Chairman The persistence of the Covid-19 pandemic continued to present a host of challenges to governments and businesses throughout SHAREHOLDER DISTRIBUTION 2021. Barrick again figured prominently in the campaign against the virus in our host communities, effectively mitigating its impact Cents per share on our operations and also providing vital support to our local    90 stakeholders. 80 This was not done as a once-off response to a crisis but as part 70 of our commitment to partnership-based business objectives, a philosophy built on engagement, transparency and caring, 60 which recognizes the importance of the shareholders who own 50 the company but also of our other stakeholders: our employees, 40 our host countries, the communities around our mines and our    30 business partners. Integral to this philosophy is our belief that    20 good ESG management is essential to the achievement of our vision of being the world’s most valued gold and copper company. 10 0 2016 2017 2018 2019 2020 2021 Base dividend Return of capital PERFORMANCE DIVIDEND POLICY Performance Quarterly Quarterly Quarterly dividend level Threshold level base dividend performance dividend total dividend Level I Net cash3 less than $0 $0.10 per share $0.00 per share $0.10 per share Level II Net cash greater than $0 and less than $0.5 billion $0.10 per share $0.05 per share $0.15 per share Net cash greater than $0.5 billion and less Level III than $1 billion $0.10 per share $0.10 per share $0.20 per share Level IV Net cash greater than $1 billion $0.10 per share $0.15 per share $0.25 per share 3 Calculated as cash less debt. Barrick Gold Corporation|Annual Report 2021 009

Board of Directors Director since February 2012 Nationality: American    Mr Thornton has been Executive    Chairman of Barrick since 2014. Director since January 2019 He has decades of experience in Nationality: South African global business, finance, and public affairs. He has served as a director Mr Bristow had been the Chief of numerous public companies, Executive of Randgold Resources since including China Unicom, Ford, HSBC, its incorporation in 1995. Randgold John L Thornton Industrial and Commercial Bank of was founded on his pioneering NON-INDEPENDENT, China, Intel, and News Corporation. exploration work in West Africa and he EXECUTIVE subsequently led the company’s growth    CHAIRMAN through the discovery and development Mark Bristow of world-class assets. He joined Barrick    NON-INDEPENDENT, in his current position with the Merger in January 2019. PRESIDENT AND    CHIEF EXECUTIVE    Director since December 2005 OFFICER Nationality: American    Chair of the Audit & Risk    Committee, Audit Committee Director since November 2021 Financial Expert Nationality: Chinese Member of the Compensation Committee Ms Cai has almost two decades of experience in finance and investment.    Mr Harvey was CONSOL Energy    She was an equity research analyst J Brett Harvey Inc’s Chairman Emeritus from May with Goldman Sachs covering the INDEPENDENT AND 2016 to May 2017, Chairman from American mining and technology LEAD DIRECTOR January 2015 to May 2016, Executive sectors. Then, at China International Chairman from May 2014 to January Capital Corporation, she was a lead 2015, Chairman and CEO from June analyst covering the greater China Helen Cai 2010 to May 2014, and CEO from INDEPENDENT region, and later as a senior investment January 1998 to June 2010. DIRECTOR banker headed various IPO, restructuring, and M&A transactions. Director since September 2003 Nationality: Venezuelan and Director since January 2019 Spanish Nationality: British    Chair of the ESG & Nominating Chair of the Compensation Committee Committee Member of the Compensation Member of the ESG & Nominating Committee Committee Mr Cisneros is the Chairman of Mr Coleman is the group head of Gustavo A Cisneros Cisneros, a privately-held media, banking at Rothschild & Co and has INDEPENDENT entertainment, telecommunications, more than 25 years’ experience in    Christopher L Coleman DIRECTOR and consumer products organization. the financial services sector, including INDEPENDENT    He is a member of Barrick’s corporate and private client banking DIRECTOR International Advisory Board. He is and project finance. He has had also a senior advisor to RRE Ventures a long-standing involvement in the LLC, a venture capital firm. mining sector in Africa and globally. 010 Annual Report 2021| Barrick Gold Corporation

BARRCRC Director since July 2014 Nationality: Canadian Member of the Audit & Risk Committee, Audit Committee Financial Expert Mr Evans is the President of Alibaba Group Holding Ltd, a position he has held since August 2015. Prior J Michael Evans to becoming President, he was an    INDEPENDENT independent director and member of Director since July 2014 DIRECTOR the audit committee of Alibaba Group    Nationality: American    Holding Ltd. Member of the ESG & Nominating Committee Member of the Compensation Committee Mr Greenspun is the Publisher and    Director since November 2020 Editor of the Las Vegas Sun. He is Nationality: Ugandan also Chairman and CEO of Greenspun    Brian L Greenspun Member of the Audit & Risk Media Group. He has been appointed INDEPENDENT Committee to two US Presidential Commissions. DIRECTOR Ms Kabagambe has 35 years’ experience spanning a diverse range of senior leadership positions in international institutions. She is a former Executive Director of the World Bank    Anne Kabagambe INDEPENDENT Group and, prior to the World Bank, DIRECTOR she spent 27 years at the African    Development Bank. Ms Kabagambe Director since January 2019 has also served on the boards of the Nationality: British Africa American Institute and Junior    Member of the Audit & Risk    Achievement Africa. Committee For 15 years, prior to his retirement in 2011, Mr Quinn was head of Mining Director since August 2019 Investment Banking for Europe and Nationality: Chilean Africa at CIBC. He has over 40 years’ experience in the mining industry. Member of the ESG & Nominating Andrew J Quinn Committee INDEPENDENT DIRECTOR Ms Silva serves as a partner at the Chilean law firm Bofill Escobar Silva Abogados. She is also a member of the board of Aguas Andinas, the largest water utility in Chile. In 2010,    Loreto Silva INDEPENDENT Ms Silva was appointed Vice Minister DIRECTOR of Public Works. Ms Silva became the Minister of Public Works at the end of 2012, a position she held until March 2014. She has been named one of Chile’s 100 top woman leaders on four occasions. Barrick Gold Corporation|Annual Report 2021 011    

Message from the President and CEO We continued to invest in our future through the development of capital projects that will expand and enhance an operating platform which already holds some of the industry’s best assets. Our exploration programs more than replenished that base while also broadening our horizons by finding fresh targets in new regions. We sharpened our skills and nurtured a new generation of leaders. We mapped out and are advanced on a clear road to achievable emissions reduction targets. We strengthened the many stakeholder partnerships that secure our social licence to operate in our host countries across the world. The creation of long-term value, which is Barrick’s prime objective, requires a sustainable strategy. Our operations all have business plans for the next 10 years and beyond – plans based not on wishful thinking but on geological, engineering and commercial realities. Deeply embedded in those plans is our long-standing commitment to the principles of ESG, which informs all our business decisions. Building on our value foundation In Nevada, the updated Goldrush feasibility study delivered a robust project that meets our investment criteria and the immediate geological prospectivity has the potential to enhance it with further evaluation. The commissioning of Turquoise Ridge’s third shaft and continued geological and mine improvements will secure that mine’s future as a Tier One asset. The state is one of the world’s most prolific gold districts and last year alone brownfields exploration added 9.4 million ounces of reservesi. Mineral resources, The past year was one of inclusive of reserves, also demonstrated good growth with 7.4 million ounces of measured and indicated resourcesi and substantial progress in our drive a further 5.2 million ounces of inferred resourcesi to Nevada to build a Barrick which will be Gold Mines’ inventory, before depletion. There is also a real potential for the discovery of new world-class deposits. the world’s most valued gold and Pueblo Viejo in the Dominican Republic – another of our Tier One copper mining company in every assets – is making good progress with its plant expansion and mine life extension project, designed to deliver a mine capable sense of that word. of producing 800,000 ounces of gold per year on a 100% basis, well into the 2040s. Work on the plant is well advanced and the new tailings facility is at the permitting stage. In Africa, the Tier One Loulo-Gounkoto is ramping up production at its third underground mine while exploration successes continues to extend the life of the complex. Kibali, also a member of the Tier One club, is discovering new orebodies within the main mining area. North Mara and Bulyanhulu, both stagnant when we took over their management in 2019, have been transformed beyond recognition, and last year’s combined production of over 500,000 ounces of gold meets one of our key criteria for a Tier One complex. 012 Annual Report 2021| Barrick Gold Corporation    

_ ___AG_ _R__ ___ _R_______ A__ C__ _C_________ Veladero in Argentina is another success story. A doubtful We have put a particularly strong focus on exploration in Latin starter at the time of the Merger, it has been turned into a America, where our teams are testing a portfolio of targets on strong performer, and the commissioning of its link to the the El Indio belt along the border between Argentina and Chile. power grid in neighbouring Chile will reduce its costs as well We have also added ground in Peru and started fieldwork on as its carbon emissions. new projects in Guyana and Suriname. In Papua New Guinea, the Porgera mine has been on care We are working on a well-defined strategy to grow our business and maintenance since the government chose not to renew its in Canada where I believe we are under-invested. A significant special mining licence. Negotiations led by the prime minister exploration portfolio has been secured in the country’s Uchi and me eventually delivered a framework agreement for the Belt and the team is also looking at other opportunities in the resumption of operations but finalizing the fine print is also country. requiring perseverance. We nevertheless hope that it will be We are investigating the revival of the Reko Diq project in possible to restart the mine this July. Pakistan, which sits on top of the world’s largest undeveloped Barrick has an industry-leading record of reserve and resource copper and gold deposit. This project stalled when the replacement, and last year we again found more ounces than provincial government refused to grant it a mining licence. An we mined, and at a better grade. Our portfolio of advanced arbitration court subsequently awarded our partners and us targets will continue to add to our inventory, providing solid significant damages. Instead of enforcing this, however, we support for our 10-year production forecast. have been working with the federal and provincial governments New frontiers in a spirit of partnership on an agreement that will support the legalization of the lease and development of the project. We are increasing our global footprint as the hunt for high- The S in ESG quality assets extends into new prospective areas. A specialist Asia-Pacific team, set up to look at opportunities The Social component of ESG tends to be overshadowed by in that region, has acquired exploration permits in Japan and its Environmental counterpart, but for Barrick it is the socio-we are also investigating projects across the Nubian and economic state of our less-developed host countries that is Arabian Shields in North Africa and the Middle East. In Egypt, critically important, and much of our sustainability strategy a draft mineral exploitation permit has been received from the is directed at ensuring that our host communities are not Egyptian government and negotiations have started on its impacted negatively by the world’s transition to a green fiscal parameters. economy. CUMULATIVE ATTRIBUTABLE FREE CASH FLOW1,i,ii FROM OPERATING MINES (2022 – 2026) $ billion    For every $100/oz change in the gold price, attributable free cash flow1,i 25 generated by our operations increases by ~$1.5 billion.    For every $0.50/lb change in the copper price, attributable free cash flow1,i generated by our operations increases by ~$0.8 billion. 20 2XU_SULFH_OHYHUDJH_LV_PDJQLÈ´HG_E¥_RZQLQJ_VL[_7LHU_2QH_JROG_DVVHWV 15 10 5 0 $1,200/oz $1,300/oz $1,400/oz $1,500/oz $1,600/oz $1,700/oz $1,800/oz $1,900/oz $2,000/oz $3.00/lb $3.25/lb $3.50/lb $3.75/lb $4.00/lb $4.25/lb $4.50/lb $4.75/lb $5.00/lb Tier One gold assets Other gold assets Copper assets    1 On an attributable basis; excludes corporate-level costs such as interest, exploration, evaluation and project, G&A as well as closure (average of $0.9 billion per annum). Exclusive of Porgera. Barrick Gold Corporation|Annual Report 2021 013

_ ___AG_ _R__ ___ _R_______ A__ C__ _C_________ Our sustainability team has been collecting and analyzing the This natural diversity gives Barrick an unparalleled ability to socio-economic data from surveys undertaken to quantify understand and align with the social and cultural norms of the benefits of our support for communities’ livelihood its operational environments and effectively manage any improvement initiatives. These findings will be included in challenges that might arise. our Sustainability Report for 2021 and these non-monetary Our drive to employ the next generation of mining talent metrics will be an industry first. remains steady, with 56% of our workforce now under the Throughout the year we tracked our progress against the age of 40 and 19% under 30. We are continuing to increase Sustainability Scorecard at least quarterly. The main motivation our gender diversity, and last year 17% of new hires globally for the scorecard – another industry first, introduced in 2019 – is were women. Christine Keener, formerly vice-president of to disclose our performance to external stakeholders operations for Europe and North America at Alcoa, has transparently while driving internal improvement at a site level. been appointed as our new chief operating officer for North America and Poupak Bahamin will replace Rich Haddock in For the 14th successive year, Barrick was included in the the role of General Counsel in April 2022. Running parallel to prestigious Dow Jones Sustainability Index’s World Index, our recruiting drive are individual development plans tailored placing in the 95th percentile of all the mining companies listed. specifically for women. We scored full marks for environmental reporting, water-related risks, social reporting, human rights and economic Effective succession planning is a key human capital objective contribution. and high-potential leaders identified through this process are enrolled in executive and management development courses. Last year we also quantified and published a greenhouse gas reduction roadmap to our target of a 30% reduction by 2030 As part of our employee development programs, we have against a 2018 baseline, while maintaining a steady production developed a new Subject Matter Expert (SME) approach to profile. This was lauded by investors and stakeholders as a stretch our key technical talent. These SMEs are equipped to promise with a plan: in other words, a realistically achievable deal with operational challenges in real time and form part of goal and not merely a hopeful pledge to please the market. our global best practice teams. In the meantime, some of our reduction initiatives, such as    Barrick believes in empowering our people to thrive in a Nevada’s 200MW solar power plant, have made significant decentralized structure with lean regional teams designed for progress. agility. We have two-way communication and engagement Investing in our human capital with employees and our mantra is management by walking about. Core executives are physically in the regions for One of our key ESG contributions is Barrick’s policy of most of each quarter, driving key initiatives and assessing local employment: 96% of our workforce and 78% of our organizational capability. I personally spend most of my time management are host country nationals. working at our mines and projects around the world. 014 Annual Report 2021| Barrick Gold Corporation

_ ___AG_ _R__ ___ _R_______ A__ C__ _C_________ Rolling out a single groupwide data Now for the next step    platform Barrick’s strong balance sheet and the abundant free cash flowi generated by our operations will enable us to continue After the Merger and the Newmont joint venture in Nevada, Barrick was left with more than 20 separate financial planning, building our future by investing in the development of the many transacting and reporting systems. Drastically simplifying growth prospects within the group as well as the acquisition these and integrating them into a single, integrated platform of the rare external opportunities that may meet our criteria. for all financial data and operational KPIs was consequently Last year we again demonstrated the effectiveness of our one of our key priorities. strategy of combining the best assets with the best people Towards the end of 2021, Barrick passed another major to deliver the best results. Barrick demonstrably has the best milestone in its digital transformation journey, when all its sites assets and it is producing industry-leading returns, thanks in the Americas and Africa moved on to a single SAP solution, to the teams who worked tirelessly to achieve 2021’s stellar one of three layered applications that will constitute the results. Led by the group executive, they are focused on group’s data platform. In addition to SAP (transactions), the taking us to the next level. others are OneStream (financial reporting and consolidation) The executive chairman and the Board provided the guidance and Xeras (operating cost modelling). and governance we need on this journey, and I thank them This integrated knowledge platform will give Barrick the ability for their support. I also thank the many stakeholders and to convert updated mine plans into financial models and roll business associates with whom we enjoy mutually rewarding them up into a consolidated group view, all in a matter of partnerships. minutes. It can also quickly compare the financial viability of multiple mining scenarios and measure key cost drivers in real time, flagging issues that require immediate attention. The new platform has significantly improved not only the availability but also the accuracy of our information, providing a robust foundation for our continuing investment in new Mark Bristow projects. President and Chief Executive 10-YEAR GOLD PRODUCTION OUTLOOKii Moz 6.0 5.0 4.0 3.0 2.0 1.0 0 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 North America Latin America and Asia Pacific2 Africa and Middle East GEO2,3 2 Production excludes Porgera. 3 Gold Equivalent Ounces (GEO) are calculated using reserve prices – $1,200/oz for gold and $2.75/lb for copper. Barrick Gold Corporation|Annual Report 2021 015

Executive committee Mark Bristow    PRESIDENT AND CHIEF EXECUTIVE OFFICER    Graham Shuttleworth    Mark Bristow was appointed President and SENIOR EXECUTIVE VICE-PRESIDENT, Chief Executive Officer of Barrick in January CHIEF FINANCIAL OFFICER 2019, following the Merger with Randgold Graham Shuttleworth is a chartered Resources. Previously he founded Randgold accountant with over 27 years’ mining Resources and was the CEO following his industry experience. Previously, he was pioneering exploration work in West Africa. the Financial Director and Chief Financial He subsequently led Randgold’s growth Officer of Randgold from July 2007, and through the discovery and development of prior to that the managing director and high-quality assets into a major international head of metals and mining for the Americas gold mining business. He played a pivotal in the global investment banking division of role in promoting the emergence of a HSBC. He became the Senior Executive sustainable mining industry in Africa, and Vice-President and CFO of Barrick with the has a proven track record of delivering Merger in January 2019. significant shareholder value. He holds a Doctorate in Geology from the University of KwaZulu-Natal. Kevin Thomson    SENIOR EXECUTIVE VICE-PRESIDENT, STRATEGIC MATTERS    Mark Hill    Kevin Thomson is intimately involved in    CHIEF OPERATING OFFICER, all activities of strategic significance to    LATIN AMERICA AND ASIA PACIFIC the company, including the development Mark Hill is the executive responsible of partnerships with other mining for the Latin America and Asia Pacific companies, investors, suppliers and other region, a role he assumed in January business partners, strategic legal issues, 2019. He was formerly Chief Investment management of complex negotiations, as Officer of Barrick, chairing its investment well as development of corporate strategy committee and has more than 27 years’ and governance. experience in the mining industry. Willem Jacobs    Christine Keener CHIEF OPERATING OFFICER, AFRICA CHIEF OPERATING OFFICER, AND MIDDLE EAST    NORTH AMERICA Willem Jacobs is the executive Christine Keener is the executive responsible for the Africa and Middle responsible for the North America region East region. He joined Randgold in 2010 and was appointed in February 2022. She and was responsible for establishing brings a diversified background having Randgold’s activities in Central and East worked in finance, strategy, a number Africa, specifically in the Democratic of commercial roles and more recently Republic of Congo. Willem was in operations. Christine was formerly appointed COO, Africa and Middle East vice president of operations, Europe and after the Merger in January 2019. North America, for Alcoa and before that worked as a certified public accountant for PricewaterhouseCoopers.    Greg Walker    EXECUTIVE MANAGING DIRECTOR, NEVADA GOLD MINES    Greg Walker has been in his current position since the Nevada Gold Mines JV was formed in July 2019. Prior to leading NGM, he was Barrick’s SVP, Operational and Technical Excellence, responsible for driving transformational business improvement across the group’s operations. 016 Annual Report 2021| Barrick Gold Corporation    

EXECUTIVE COMMITTEE (CONTINUED) Lois Wark    GROUP CORPORATE COMMUNICATIONS AND INVESTOR RELATIONS EXECUTIVE    Lois Wark joined Randgold when the company was established in 1995 and headed its corporate communications function for 20 years. In January 2019, following the Merger, she assumed responsibility as executive in charge of Riaan Grobler Barrick’s global corporate communications COMMERCIAL AND SUPPLY CHAIN and investor relations programs. EXECUTIVE    Riaan Grobler holds an Honours degree in Finance and has 23 years’ experience in the gold mining industry. He was appointed Group Commercial and Supply Chain    Grant Beringer    General Manager for Randgold in 2014    GROUP SUSTAINABILITY EXECUTIVE and SVP Commercial and Supply Chain for Grant Beringer oversees all sustainability Barrick following the Merger in January 2019. related aspects for the company and is a In 2021, Riaan was appointed Commercial member of the Environmental and Social and Supply Chain Executive. Oversight Committee. He holds an MSc in environmental management and has over 18 years’ experience in the environmental and social consulting industry. Glenn Heard    MINING EXECUTIVE    Glenn Heard is a mining engineer with a Bachelor of Engineering (Mining) Honours    Rod Quick    MINERAL RESOURCE MANAGEMENT AND and over 29 years’ mining experience. In EVALUATION EXECUTIVE 2017, he was appointed Randgold’s Group    General Manager – Mining and then SVP Rod Quick is a geologist with an MSc and Mining following the Merger in January 26 years’ experience in the gold mining 2019. In 2021, Glenn was appointed industry. He joined Randgold in 1996, and Mining Executive responsible for technical was involved in the exploration, evaluation and operational oversight. and production phases of all of Randgold’s projects since Morila. Rod was appointed to his current position following the Merger in January 2019. Darian Rich    HUMAN RESOURCES EXECUTIVE    Darian Rich, who has more than 27 years’ John Steele experience in human resource management, METALLURGY, ENGINEERING AND was appointed Executive Vice-President, CAPITAL PROJECTS EXECUTIVE Talent Management, in July 2014, when he was tasked with attracting, retaining and John Steele is the executive responsible for developing exceptional people. capital projects and provides operational and engineering oversight to the group, a role he assumed following the Merger in January 2019. He joined Randgold in 1996 and was responsible for the successful construction Poupak Bahamin and commissioning of Randgold’s Morila, GENERAL COUNSEL Loulo, Tongon, Gounkoto and Kibali mines. Poupak Bahamin joined Barrick in 2020 as deputy general counsel. Previously, she served as a partner and Co-Head of Mining US at Norton Rose Fulbright. She has been    Joel Holliday EXECUTIVE VICE-PRESIDENT, recognized by Chambers Global as a DRC EXPLORATION Foreign Expert for general business law as well as corporate and M&A work. Joel Holliday joined Barrick as SVP for Global Exploration following the Merger in 2019.    Previously he had managed Randgold’s exploration teams for 15 years with discoveries including Gounkoto and Loulo 3. Joel assumed his current role in November 2021. Barrick Gold Corporation|Annual Report 2021 017    

Financial review The quality of our asset base and the agility of our management were demonstrated by our ability to deliver on full-year production guidance, despite the major mill failure at one of the Carlin processing facilities in the second quarter. With the gold price maintaining its elevated level, delivery of our production and total cash costsi within guidance was critical to maintaining our profitability and net cash position, and underwrote our ability to return a record $1.4 billion to shareholders in the form of dividends and return of capital. At the same time as delivering the strong results in 2021, we have positioned our business to be profitable in years to come, with anticipated growth in production and a declining cost profile. We have begun to see the impact of inflation. Our agile operating model shields us from some of these headwinds, particularly around our supply chain and labour costs. This is also supported by our strong financial results with operating cash flow of $4.4 billion in 2021 and free cash flow of $1.9 billioni. For the second consecutive year, we have ended the year in a net cash position, despite the record returns to shareholders, and given that we do not have any material short- or medium-term debt commitments, the company’s balance sheet is in a very sound position, providing us with the ability to invest in our future growth and continue to deliver returns to our shareholders. We have increased our base dividend and introduced a performance dividend while at the same time approving a $1 billion share buyback program starting in 2022. The performance dividend will ensure that our shareholders participate in the upside of higher commodity Our solid performance in 2021 prices while at the same time giving us the capacity to fund our future growth. Our dividend, on an annual basis, has was built on three platforms: the increased for the last five years in a row. strength and resilience of our asset During 2021, the operating leverage Barrick has to the copper base; the increasing contribution price and our ability to participate in the global decarbonization imperative became clearer. Our copper business contributed from our copper business; and around 20% of Barrick’s bottom line during the year, and we expect to see that grow in the future as we develop this    WKH_È´UVW_IUXLWV_RI_RXU_V¥VWHPV_ portfolio. investments in the future. We are very near the end of our systems transformation journey that started almost two and half years ago. We have completed the implementation of SAP and OneStream at all our operations throughout the Americas and Africa. This has progressively allowed us to simplify our systems landscape by decommissioning several legacy and outdated enterprise resource planning and reporting platforms. That simplification has also been supported by further portfolio rationalization through disposals of non-core assets, including the Lone Tree and South Arturo asset swap and Lagunas Norte divestiture. 018 Annual Report 2021| Barrick Gold Corporation

_INANCIA_ REVIE_ (CONTINUED) We are now starting to realise the benefits of simplifying the While the previous two years have been largely focused group structure in the form of lower costs, higher operating on business transformation and building our geological efficiencies and enhanced transparency through the ability understanding and 10-year plan in 2021, we started delivering to benchmark our operations. We have adapted our supply on our foundational purpose. We continue to be excited by the chain model to minimize exposure to the biggest cost drivers additional value that is within our grasp and we are pursuing while at the same time fully leveraging our buying power the capture of this upside to achieve our goal of becoming the across the group, aided by our new SAP supply chain and world’s most valued gold and copper mining company. planned maintenance implementations. Identifying and effectively dealing with risk is key to a safe and sustainable business and is an integral part of how we protect and create value. Our risk management process is designed to enable us to identify, evaluate, plan and manage risks, including new and emerging risks that could have an impact on our business. During the year, we carried out a robust assessment Graham Shuttleworth of these risks, uncertainties and emerging risks facing the Senior Executive Vice-President, Chief Financial Officer group. We also proactively analyzed the impact of these risks through scenarios linked to the interplay between geopolitics, societal expectations and technology advancement.    BARRICK 5-YEAR GOLD OUTLOOK1,ii Gold & GEO production (attributable), Moz Total gold capital expendituresi (attributable), $ million Gold cost of sales2,i, Total cash costs2,i and AISC2,i, $/oz 6.0 1,400 5.0 1,200 1,000 4.0 800 3.0 600 2.0 400 1.0 200 0 0 2021 2022 2023 2024 2025 2026 AME LATAM and AP NA GEO3 Cost of sales Total cash costs AISC Total gold capital 1 All metrics are exclusive of Porgera. 2 Royalty expenses included in the per ounce cost metrics are based on a gold price assumption of $1,700/oz for 2022 onwards. Our realized gold price in 2021 was $1,790/ozi. 3 Gold Equivalent Ounces (GEO) are calculated using reserve prices – $1,200/oz for gold and $2.75/lb for copper. BARRICK 5-YEAR COPPER OUTLOOKii Copper production (attributable), Mlbs Total copper capital expendituresi (attributable), $ million Copper cost of sales1,i, C1 cash costs1,i and AISC1,i, $/lb 600 3.00 500 2.50 400 2.00 300 1.50 200 1.00 100 0.50 0 0.00 2021 2022 2023 2024 2025 2026 Lumwana Zaldivar Jabal Sayid Cost of sales C1 cash costs AISC Total copper capital 1 Royalty expenses included in the per pound cost metrics are based on a copper price assumption of $4.00/lb for 2022 onwards. Our realized copper price in 2021 was $4.32/lb i.

Gold market overview The average price of gold in 2021 There was a significant positive turnaround in global jewellery consumption in 2021 due to a stronger economic outlook was $1,799/oz, a 2% increase over after purchases were significantly impacted by Covid-19 in the $1,770/oz average in 2020. the prior year, with global consumption up 52% versus 2020.    China and India, representing approximately 61% of global $1,799/oz represented the highest jewellery consumption demand on a combined basis, led the way and accounted for the bulk of the increase. Versus the annual average price on record, prior year, China’s consumption level was up 63% and India’s    surpassing the previous high consumption level was up 93%.    reached in 2020, and represented Gold demand for electronics and other industrial uses rose by 10% in 2021, after declining in 2020 due to reduced the sixth straight year of annual manufacturing activity and demand for electronics as a result of the spread of Covid-19. A further return to pre-pandemic average price increases. manufacturing activity and a continued increase in demand for 5G infrastructure could help to grow demand in 2022 and beyond. 2021 was another challenging year full of global economic uncertainties, but the strength of the gold price during Central bank purchases rose 82% year-on-year, but still such difficult times has continued to underscore its value remained below the long-term peak of net purchases that as a safe haven investment. In particular, the economic were made in 2018 and 2019. The World Gold Council consequences of the pandemic have led to monetary and reports that central banks added 463 tonnes to their reserves fiscal stimulus measures put in place by global central banks during 2021, representing the twelfth consecutive year of net and governments that have helped to provide a conducive purchases. During 2020, some central banks looked to their environment for historically robust gold price performance. holdings of gold as a source of liquidity in difficult economic times as a result of the global pandemic – with their ability to Gold prices ended 2021 at $1,806/oz, above the annual do so providing a strong statement as to why gold is a valuable average for the year, and have continued to be strong in the reserve asset and a key source of reserve diversification. The early months of 2022. strong increase year-on-year of net purchases in 2021 shows Overall demand for gold was strong in 2021, with the World that central banks continue to view gold positively. Gold Council reporting a 10% increase year-on-year, led    Overall supply of gold in 2021 decreased by 1%, the second by increases in the jewellery and technology sectors and straight year of declines, mainly attributable to an 11% drop purchases by global central banks. in recycled gold tempered by a modest 2% increase in mine Despite the increase in overall demand, investment demand supply. for gold in 2021 declined, with the World Gold Council The supply of recycled gold fell after reaching a nine-year high reporting that collective ETF gold holdings reduced by in the prior year that was attributable to the rise in prices and 173 tonnes during the year after record net inflows in the prior economic worries over the initial impacts of Covid-19. year. COMEX net long positions also declined from the all-time highs reached during 2020. These investment demand Global annual mine production rose for the first time in three decreases were partially offset by strength in purchases of years but still remained approximately 3% below the peak bars and coins, which rose 31% versus 2020. reached in 2018, further confirming that the mining industry may have reached a medium-term peak in gold production Historically low global nominal interest rates, including a at that time. As gold prices have increased and capital benchmark rate range of 0% to 0.25% in the United States has become more readily available in recent years, there is in place since March 2020, and a continuation of negative continued evidence of increased spending on exploration by 10-year real rates in the US and Europe, have helped gold mining companies, but the costs of mine construction and prices remain strong by reducing the opportunity cost of the time required for environmental studies and permitting holding gold over the past two years. However, the expectation activities before reaching the production stage means that a for increases in benchmark interest rates starting in 2022, and return to sustained global production growth could be delayed reductions in financial and monetary stimulus measures that accordingly. were put in place to reduce the economic risk associated with the Covid-19 pandemic, moderated investment demand for gold in 2021. Notwithstanding this, with tightening measures already anticipated, and the possibility of continued inflation, Q4 2021 represented the strongest quarter for overall investment demand since Q3 2020, potentially setting the stage for a rebound in 2022. 020 Annual Report 2021| Barrick Gold Corporation

GO_D MAR_ET OVERVIE_ (CONTINUED) GOLD ETFS & SIMILAR PRODUCTS Copper market    Tonnes, net overview 1,000 800 600 In 2021, the price of copper was historically strong, with average 400 annual prices marking an all-time high of $4.23/lb, a significant increase over the $2.80/lb annual average in 2020. 200 0 Early in the pandemic period, copper prices were negatively impacted by the global reduction in manufacturing and economic -200 activity resulting from the spread of Covid-19, falling to a 4-year -400 low of $1.98/lb in March 2020. -600 Subsequently, copper prices recovered strongly and steadily over -800 the remainder of 2020 and into 2021, reaching an all-time high of $4.87/lb in August 2021 due to an anticipated uptick in demand -1,000 from increased manufacturing activity and a rebound in economic Year 10 11 12 13 14 15 16 17 18 19 20 21 growth, low levels of global copper stockpiles, and constrained mine supply.    GLOBAL ANNUAL GOLD MINE PRODUCTION As anticipated, China’s GDP growth rate recovered strongly in 2021, to an annual level of 8.1% . As China is by far the world’s    Tonnes largest consumer of copper, a return to a robust level of economic 4,000 growth had a significant impact on copper demand, and the price of copper, during 2021.    3,500 In the longer run, the increase in the volume of copper that is 3,000 used in the manufacture of electric vehicles versus those with combustion engines bodes well for copper demand, as electric 2,500 vehicles are poised to comprise a growing share of all vehicles produced over the next decade. Combined with the copper    2,000 that will be required to expand the electrical grids to support the anticipated growth in usage of electric vehicles, the outlook for    1,500 copper demand in the coming years remains very strong. 1,000 Since the turn of the century, as the global economy has undergone a number of significant challenges, the market prices 500 of both gold and copper have each increased significantly, with 0 copper prices experiencing greater volatility and gold prices Year 10 11 12 13 14 15 16 17 18 19 20 21 showing more consistent strength. Over this time period, gold and copper prices have both outpaced the gains of the S&P OFFICIAL SECTOR NET PURCHASES AND 500 Total Return Index, demonstrating the long-term benefits of GOLD PRICES holding hard assets in an investment portfolio. GOLD, COPPER, AND S&P 500 TOTAL RETURN    Tonnes, net $/oz 2,000 INDEX SINCE 2000 700 % 600 800 1,500 500 700 600 400 1,000 500 300 400 200 300 500 200 100 100 0 0 0 Year 10 11 12 13 14 15 16 17 18 19 20 21 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 Year    Central banks and other institutions Gold price Copper price S&P 500 Total Return Index London Bullion Market Association gold price Source: Bloomberg Source: World Gold Council Barrick Gold Corporation|Annual Report 2021 021

North America1 Nevada Gold Mines (61.5%) Hemlo (100%) 100% Production: 3,311koz 100% Production: 150koz Attributable Production: 2,036koz P&P Reservesi: 1.1Moz Donlin Gold (50%) M&I Resources3,i: 2.6Moz Inferred Resources3,i: 0.82Moz Turquoise Ridge Complex2 M&I Resources3,i: 20Moz Inferred Resources3,i: 3Moz 100% Production: 543koz Attributable Production: 334koz P&P Reservesi: 8.6Moz M&I Resources3,i: 12Moz Inferred Resources3,i: 0.74Moz Carlin Complex2,4 100% Production: 1.5Moz Attributable Production: 923koz P&P Reservesi: 11Moz M&I Resources3,i: 19Moz CANADA Inferred Resources3,i: 4.6Moz Golden Sunlight    Cortez Complex2,5 (100%) 100% Production: 828koz Attributable Production: 509koz P&P Reservesi: 8.8Moz USA M&I Resources3,i: 11Moz Inferred Resources3,i: 3.9Moz Phoenix 100% Production: 178koz Corporate office, Toronto Attributable Production: 109koz i Fourmile (100%) P&P Reserves: 2.0Moz M&I Resources3,i: 4.0Moz M&I Resources3,i: 0.35Moz Inferred Resources3,i: 0.36Moz Inferred Resources3,i: 2.2Moz    Gold producing In closure Long Canyon 100% Production: 261koz Projects Attributable Production: 161koz Corporate office i P&P Reserves: 0.023Moz 1 All figures as at December 31, 2021. Figures M&I Resources3,i: 0.85Moz for mineral reserves and mineral resources are Inferred Resources3,i: 0.19Moz attributable to Barrick. 2 Tier One operation. 3 Mineral resources are reported inclusive of mineral reserves. 4 Operating results within our 61.5% interest in the Carlin Complex includes NGM’s 60% interest in South Arturo until May 30, 2021, and 100% interest thereafter. 5 Mineral reserves and resources at Cortez are reported inclusive of Goldrush. 022 Annual Report 2021| Barrick Gold Corporation    

NORT_ AMERICA (CONTINUED) Barrick is the largest gold producer in the United States. Nevada Gold Mines is the single largest gold mining complex in the world and anchors the group’s production from this region. Barrick operates and owns 61.5% of this joint venture, which includes three of the company’s Tier One assets – Carlin, Cortez and Turquoise Ridge. In 2021, attributable gold production from NGM was two million ounces. ATTRIBUTABLE GOLD    PRODUCTION COST OF SALESi, TOTAL CASH COSTSi AND AISCi koz $/oz 1,050 1,040 2,100 to to to 2,500 2,300 1,200 1,130 1,120 2,000 1,000 1,500 800 740 600 to 1,000 800 400 500 200 0 0 2020 2021 2022 2020 2021 2022 (est) (est) Cost of sales Total cash costs AISC ATTRIBUTABLE GOLD MINERAL    RESERVES AND RESOURCES1,i NORTH AMERICA 5-YEAR GOLD OUTLOOKii Moz Cost of sales2,i 80 Total cash costs2,i 70 Gold production (attributable), Moz AISC2,i Gold capital expendituresi (attributable), $ million $/oz 60 50 3.0 1,200 40 2.5 1,000 30 2.0 800 20 1.5 600 10 0 1.0 400 Proven Measured Inferred 0.5 200 and and resources probable indicated 0.0 2021 2022 2023 2024 2025 2026 0 reserves resources Carlin3 Cortez Turquoise Ridge Long Canyon Phoenix Hemlo Total capital Cost of sales Total cash costs AISC 1 Mineral resources are inclusive of mineral reserves. 2 Royalty expenses included in the per ounce cost metrics are based on a gold price assumption of $1,700/oz for 2022 onwards. Our realized gold price in 2021 was $1,790/oz i. 3 Operating results within our 61.5% interest in the Carlin Complex includes NGM’s 60% interest in South Arturo until May 30, 2021, and 100% interest thereafter. Barrick Gold Corporation|Annual Report 2021 023

NORT_ AMERICA (CONTINUED) Pouring its first gold over 150 years ago, Cortez is expected to 2022, the third shaft is expected to provide additional ventilation continue producing long into the future through projects such as for underground mining operations as well as shorter haulage Goldrush, Robertson and potentially Fourmile. We completed an distances. updated feasibility study of Goldrush in 2021, which confirmed Completing the NGM portfolio is Phoenix and Long Canyon. At the project’s world-class status that more than meets Barrick’s Phoenix, the copper by-product generated by the mine provides investment criteria. The issuance of a Record of Decision diversification and further cash flow growth from this strategic (ROD) for Goldrush remains on track for the second half of metal. The focus at Long Canyon is now shifting to permitting 2022. Resources continued to grow at Robertson year on year, Phase 2. It is expected to begin production in 2026 and is supporting our plan for the deposit to contribute meaningfully to included in our 10-year outlook.    Cortez’s production profile starting in 2025.    Elsewhere in North America, our pioneering tailings reprocessing The creation of the Nevada Gold Mines joint venture was driven project at Golden Sunlight will serve as a model for future by the opportunity to unlock value through the combination of mine closures across the Barrick asset base, which combines Barrick’s and Newmont’s assets in the state. The expertise rehabilitation with value creation. At Hemlo, ramping up the we have brought together to execute a disciplined exploration underground and improving productivity remains the key focus strategy has resulted in maiden resources declared at North over the near term. Leeville and Ren for 2021, demonstrating the strong organic growth potential at the Carlin Complex. Mineralization is open in Our orebody knowledge of Donlin in Alaska continues to grow. all directions and drilling continues at both targets. Elsewhere at The 2021 drill campaign finished strongly with high-grade the Carlin Complex, resources have increased year on year from intercepts and some of the best drill results for an open pit gold the open pits at Gold Quarry and South Arturo, as well as the project industry wide. We began 2022 under the largest project underground at Leeville and Rita K. budget for Donlin in over a decade, designed to update geologic modelling and interpretation work for an updated resource Development of the third shaft at Turquoise Ridge is advancing model, including engineering activities for use in a potential in line with schedule and budget. On commissioning by late updated feasibility study. Our Tier One assets Carlin Complex Cortez Complex Carlin Complex consists of multiple open pit and underground Cortez Complex consists of the Pipeline open pit complex and mines and several processing facilities. These include two the Cortez Hills underground operation. Significant growth roasters, an autoclave, an oxide mill and heap leach pads. The at the complex over the next five to ten years will be driven maiden resources declared at North Leeville and Ren for 2021 by Goldrush, Robertson and potentially Fourmile. Subject to further demonstrates the strong exploration potential within the the ROD, the development of Goldrush is expected to achieve Carlin Trend, a world-class geological marvel comparable to commercial production in 2025. Processing at Cortez consists Witwatersrand in its heyday. of an oxide mill and heap leach pads, with refractory material processed at the Carlin Complex.    Turquoise Ridge Complex Turquoise Ridge Complex, which includes Twin Creeks, consists of multiple open pit and underground mines as well as an autoclave, oxide mill and a heap leach pad. The high-grade Turquoise Ridge underground mine is the value driver of the complex and construction of a third shaft at the operation is on schedule and within budget for commissioning in late 2022. Together with increased hoisting capacity, the 5,500 tonnes per day third shaft is expected to provide additional ventilation for underground mining operations as well as shorter haulage distances. 024 Annual Report 2021| Barrick Gold Corporation

NORT_ AMERICA (CONTINUED) Case study UNLOCKING NEVADA’S POTENTIAL Progress in improving orebody knowledge has opened up resource growth and exploration opportunities The world’s largest gold mining complex, Nevada Gold    Mines (NGM), stands out from the rest of the industry 1HYDGD_*ROG_0LQHV_LV_È´UPO¥_ not only because of its size but because its wealth and GHPRQVWUDWLQJ_WKH_LPSDFW_RI_RSHUDWRU_ prospects secure its future as a high-quality, long-life operation for decades to come. NGM is 61.5% owned DQG_PDMRULW¥_RZQHU_%DUULFNȇV_VWUDWHJ¥_ and operated by Barrick. RI_FRPELQLQJ_WKH_EHVW_SHRSOH_ZLWK_    Formed in July 2019, through a joint venture partnership by WKH_EHVW_DVVHWV_WR_GHOLYHU_WKH_EHVW_ Barrick and Newmont, the combination of their respective assets has unlocked the vast geological potential of this UHWXUQV_ mineral rich region by consolidating mines, processing Christine Keener, facilities and landholdings. It is anchored by three Tier COO North America One mines – Carlin, Cortez and Turquoise Ridge – with Goldrush and Fourmile heading up a long pipeline of quality projects. broadband project, bringing high-speed internet services to the area; the i-80 Fund, which has been repurposed Rapid progress in improving orebody knowledge has opened from a Covid-19 relief program to a rural development up resource growth and exploration opportunities, notably at initiative; and the employee-driven NGM Heritage Fund. North Leeville, Ren, Robertson, Turquoise Ridge and Carlin.    The integrated leadership team has also continued to realize NGM has a strong track record in environmental remediation the value-creating synergies presented by the joint venture and reclamation, and is a committed custodian of Nevada’s through reallocating resources between mine sites, and unique lands, waters, flora and fauna. In support of sharing skills and equipment to maximize returns. Barrick’s clean energy drive as well as the state’s carbon-reduction objectives, NGM is converting its TS coal power At the same time, NGM has been reinforcing its social plant to a dual fuel process which will enable it to generate licence to operate by building strong relationships with its power from natural gas. The conversion will allow NGM local communities, the counties, the state and the federal to eliminate 563,000 tonnes of carbon dioxide equivalent agencies. To ensure that community needs are being emissions per year. Its clean energy strategy also includes met, advisory groups consisting of local stakeholders the installation of over 200MW of solar power. Together, have been formed to nominate development projects for these have the potential to reduce NGM’s emissions by investment. Some of these initiatives include the Elko 20% by 2025.    Barrick Gold Corporation|Annual Report 2021 025    

Latin America and $VLD_3DFLÈ´F1 Norte Abierto (50%) Pueblo Viejo2 (60%) Zaldívar (50%) P&P Copper Reservesi: 2,900Mlb 100% Production: 814koz 100% Production: 193Mlb M&I Copper Resources3,i: 5,500Mlb Attributable Production: 488koz Attributable Production: 97Mlb Inferred Copper Resources3,i: 1,400Mlb P&P Reservesi: 5.4Moz P&P Reservesi: 2,100Mlb P&P Gold Reservesi: 12Moz M&I Resources3,i: 14Moz M&I Resources3,i: 5,300Mlb M&I Gold Resources3,i: 22Moz Inferred Resources3,i: 2.1Moz Inferred Resources3,i: 190Mlb Inferred Gold Resources3,i: 4.4Moz DOMINICAN Veladero (50%) Pascua-Lama (100%) REPUBLIC 3,i 100% Production: 344koz M&I Resources : 21Moz Attributable Production: 172koz Inferred Resources3,i: 0.86Moz P&P Reservesi: 2.2Moz GUYANA M&I Resources3,i: 3.0Moz SURINAME Inferred Resources3,i: 0.39Moz Pierina (100%) PERU Alturas (100%) CHILE Inferred Resources3,i: 8.9Moz JAPAN    Gold producing ARGENTINA In closure Projects    Copper producing PAPUA NEW GUINEA Care and maintenance 1 All figures as at December 31, 2021. Figures for mineral reserves and mineral resources are attributable to Barrick. 2 Tier One mine. 4 3 Mineral resources are reported inclusive of mineral reserves. Porgera (24.5%) 4 Porgera mineral reserves and mineral resources are reported on a 24.5% interest basis, i P&P Reserves: 1.2Moz reflecting Barrick’s expected ownership interest following the implementation of the binding M&I Resources3,i: 2.0Moz Commencement Agreement entered into by Barrick Niugini Limited, its affiliate Porgera    Inferred Resources3,i: 0.59Moz (Jersey) Limited, the Government of Papua New Guinea, Kumul Minerals Holding Limited, and Mineral Resources Enga Limited, effective February 3, 2022. 026 Annual Report 2021| Barrick Gold Corporation

_ATIN AMERICA AND A_IA _ACI_IC (CONTINUED) This region saw tremendous change in 2021. In the Dominican Republic, the plant expansion and mine life extension projects at Pueblo Viejo    KDYH_PDGH_VLJQLÈ´FDQW_SURJUHVV_WRZDUGV_VHFXULQJ_D_SRWHQWLDO_/LIH_RI_0LQH_ extension beyond the 2040s. At Veladero, we successfully completed commissioning of the Phase 6 leach pad expansion and started construction for the next phase of production. ATTRIBUTABLE GOLD    PRODUCTION GOLD COST OF SALESi, TOTAL CASH COSTSi AND AISCi koz $/oz 1,140 1,000 1,400 to 1,040 620 1,220 to 1,200 1,120 to 750 680 1,000 500 800 700 600 to 400 760 250 200 0 0 2020 2021 2022 2020 2021 2022 (est) (est) Cost of sales Total cash costs AISC ATTRIBUTABLE GOLD MINERAL    RESERVES AND RESOURCES1,i LATIN AMERICA AND ASIA PACIFIC 5-YEAR GOLD OUTLOOK2,ii Moz Cost of sales3,i 80 Total cash costs3,i Gold production (attributable), Moz AISC3,i 70 60 Gold capital expendituresi (attributable), $ million $/oz 1.50 1,200 50 40 1.25 1,000 30 1.00 800 20 10 0.75 600 0 0.50 400 Proven Measured Inferred 0.25 200 and and resources probable indicated 0.00 0 reserves resources 2021 2022 2023 2024 2025 2026 Pueblo Viejo Veladero Total capital Cost of sales Total cash costs AISC 1 Mineral resources are inclusive of mineral reserves.    2 Excludes Porgera, which was placed on temporary care and maintenance in April 2020. We expect to update our guidance to include Porgera following the execution of all the definitive agreements to implement the binding February 2022 Porgera Project Commencement Agreement (which replaces the Framework Agreement signed in April 2021) with the Government of Papua New Guinea and the finalization of a timeline for the resumption of full mine operations. 3 Royalty expenses included in the per ounce cost metrics are based on a gold price assumption of $1,700/oz for 2022 onwards. Our realized gold price in 2021 was $1,790/oz i. Barrick Gold Corporation|Annual Report 2021 027    

_ATIN AMERICA AND A_IA _ACI_IC (CONTINUED) The Pueblo Viejo plant expansion designed to increase Latin America holds the potential for new discoveries across throughput to 14 million tonnes per annum continues to our extensive land package. Barrick is extensively exploring advance, with completion expected by the end of 2022. The for more resources for the Pascua-Lama project, which new tailings storage facility is in the permitting phase and straddles the border between Argentina and Chile. A decision together with the plant expansion, will allow the operation is expected in 2024 on whether Lama, located in Argentina, to maintain average annual gold production of approximately meets our investment criteria for development. Barrick’s 800,000 ounces per year after 2022 (on a 100% basis). exploration teams are also evaluating a range of exciting targets along the El Indio Belt, including around Veladero and Our work on extending Veladero’s mine life and positive impact Alturas-Del Carmen. to the local community made significant strides in 2021.    Notably, the Phase 6 leach pad expansion was successfully At Zaldivar in Chile, construction of the Chloride Leach commissioned in the second quarter of 2021, in line with Project was completed in early 2022. The project is expected guidance. The commissioning of this phase also ushered to increase copper production by approximately 10 to 15 in the establishment of a new trust fund for community thousand tonnes per annum at lower operating costs over the development projects, financed by 1.5% of Veladero’s gold remaining life of mine. Zaldivar is operated by Antofagasta. sales. Looking ahead, construction for the next stage of Across the Pacific Ocean at Porgera, we remain in constructive mining is progressing well, with Phase 7 construction under discussions with the Government of Papua New Guinea and way. are optimistic for operations to resume in 2022. Our Tier One asset Pueblo Viejo    Pueblo Viejo consists of two open pits, Moore and Monte Negro, with processing through autoclaves. The plant expansion and mine life extension projects remain on track, with construction of the plant expansion well under way and the new tailings storage facility in the permitting phase.    The expansion of Pueblo Viejo will extend its life to 2040 and beyond as well as double the significant contribution the mine has already made to the Dominican Republic’s economy. 028 Annual Report 2021| Barrick Gold Corporation

_ATIN AMERICA AND A_IA _ACI_IC (CONTINUED) Case study TRANSFORMING PUEBLO VIEJO Extending its life beyond 2040 The Pueblo Viejo mine is continuing to advance a plant expansion and mine life extension project designed to 3XHEOR_9LHMRȇV_H[SDQVLRQ_SURMHFW_ increase its life to 2040 and beyond. This project, which KDV_WKH_SRWHQWLDO_WR_GRXEOH_WKH_ requires an investment of approximately $1.4 billion on a 100% basis, has the potential to allow Pueblo Viejo to HQRUPRXV_FRQWULEXWLRQ_LW_KDV_DOUHDG¥_ convert approximately 9 million ounces of measured and indicated resourcesi to proven and probable reserves. PDGH_WR_WKH_‘RPLQLFDQ_5HSXEOLFȇV_ Work is well under way on the plant expansion and the HFRQRP¥_ new tailings facility is at the permitting stage. Mark Hill,    With the project, Pueblo Viejo’s total economic contribution &22_/DWLQ_$PHULFD_DQG_$VLD_3DFLÈ´F to the Dominican government in direct and indirect taxes is expected to be over $9 billion from the beginning of commercial production in 2013 through the extended life of mine. Pueblo Viejo is the Dominican Republic’s largest corporate taxpayer. The extension of its life means that The drive for gender diversity is also paying dividends, with it would continue to be a major creator of value for the women now accounting for 16% of the workforce. Dominican Republic and its people far into the future. Pueblo Viejo’s management has been very successful Of the mine’s 2,600 employees, 97% are Dominicans, in addressing environmental liabilities and significantly many drawn from its surrounding communities which have improving the water quality of the two nearby rivers. The all benefited substantially from its investment in upliftment operation’s previous operator effectively abandoned the programs. At present, the mine is involved in such mine in 1995 without a proper closure, leaving it with a programs in 58 surrounding communities. These include an major water contamination problem. When Barrick took agribusiness project intended to improve cacao cultivation in over the asset, it launched the largest environmental the area. In line with Barrick’s global policy of favoring local clean-up campaign in the country’s history, and the water contractors and suppliers, Pueblo Viejo has also promoted quality now meets regulatory standards. the development of the local economy, spending more than $160 million with them over the past eight years.    Barrick Gold Corporation|Annual Report 2021 029

Africa and Middle East1 Loulo-Gounkoto Complex2 (80%) Jabal Sayid (50%) Kibali2 (45%) 100% Production: 700koz 100% Production: 152Mlb 100% Production: 812koz Attributable Production: 560koz Attributable Production: 76Mlb Attributable Production: 366koz P&P Reservesi: 6.7Moz P&P Reservesi: 650Mlb P&P Reservesi: 4.3Moz M&I Resources3,i: 9.3Moz M&I Resources3,i: 780Mlb M&I Resources3,i: 6.9Moz Inferred Resources3,i: 1.0Moz Inferred Resources3,i: 38Mlb Inferred Resources3,i: 0.89Moz Tongon (89.7%) 100% Production: 209koz Attributable Production: 187koz EGYPT P&P Reservesi: 0.47Moz SAUDI M&I Resources3,i: 0.71Moz ARABIA Inferred Resources3,i: 0.30Moz SENEGAL MALI North Mara (84%) 100% Production: 309koz Attributable Production: 260koz P&P Reservesi: 2.8Moz CÔTE M&I Resources3,i: 4.1Moz D’IVOIRE Inferred Resources3,i: 0.65Moz DRC TANZANIA ZAMBIA Lumwana (100%) 100% Production: 242Mlb P&P Reservesi: 6,000Mlb M&I Resources3,i: 11,000Mlb Inferred Resources3,i: 93Mlb Buzwagi (84%) Bulyanhulu (84%) 100% Production: 212koz Attributable Production: 178koz P&P Reservesi: 2.5Moz M&I Resources3,i: 4.8Moz Inferred Resources3,i: 6.2Moz    Gold producing Copper producing In closure 1 All figures as at December 31, 2021. Figures for mineral reserves and mineral resources are attributable to Barrick.    2 Tier One mine. 3 Mineral resources are reported inclusive of mineral reserves. 030 Annual Report 2021| Barrick Gold Corporation    

A_RICA AND MIDD_E EA_T (CONTINUED) Barrick is the largest gold producer in Africa. Loulo-Gounkoto in Mali and Kibali in the DRC are both Tier One assets, contributing 926,000    DWWULEXWDEOH_RXQFHV_RI_JROG_GXULQJ________6LJQLÈ´FDQW_SURJUHVV_ZDV_DOVR_ made in moving the Bulyanhulu and North Mara mines, as a combined complex, closer to potential Tier One status with total production of more than 500,000 ounces in 2021 on a 100% basis. ATTRIBUTABLE GOLD    PRODUCTION GOLD COST OF SALESi, TOTAL CASH COSTSi AND AISCi 1,450 koz 1,070 to $/oz to 950 1,600 1,600 1,200 1,150 to 1,030 1,000 1,200 800 720 800 600 to 780 400 400 200 0 0 2020 2021 2022 2020 2020 2021 2022 (est) (est) Cost of sales Total cash costs AISC ATTRIBUTABLE GOLD MINERAL    RESERVES AND RESOURCES1,i AFRICA AND MIDDLE EAST 5-YEAR GOLD OUTLOOKii Moz Cost of sales2,i 30 Total cash costs2,i Gold production (attributable), Moz AISC2,i 25 Gold capital expendituresi (attributable), $ million $/oz 20 2.5 1,200 15 1,000 2.0 10 800 1.5 5 600 0 1.0 400 Proven Measured Inferred 0.5 200 and and resources probable indicated 0.0 0 reserves resources 2021 2022 2023 2024 2025 2026 Loulo-Gounkoto Kibali North Mara Bulyanhulu Buzwagi Tongon Total capital Cost of sales Total cash costs AISC 1 Mineral resources are inclusive of mineral reserves.    2 Royalty expenses included in the per ounce cost metrics are based on a gold price assumption of $1,700/oz for 2022 onwards. Our realized gold price in 2021 was $1,790/oz i. Barrick Gold Corporation|Annual Report 2021 031

A_RICA AND MIDD_E EA_T (CONTINUED) At Loulo-Gounkoto, the complex’s third underground mine At Bulyanhulu, we successfully completed the ramp-up of was commissioned and delivered first ore in the second underground mining and processing operations by the end of quarter of 2021, in line with guidance. Production from the 2021. At North Mara, the mine is on track to become a fully complex also achieved the top-end of guidance for the year. integrated open-pit and underground operation in 2022 with Across the river at Bambadji in Senegal, we have doubled the planned commissioning of the Rama pit in the first quarter our land position and have generated robust anomalies to be and the Gena pit in the third quarter. tested.    Exploration successfully extended the mine life from fresh ore Mineral reserves increased at Kibali, net of depletion, for the at Tongon in Côte d’Ivoire to 2024, with drill rigs continuing third successive year. We continue to add to the asset’s plus to turn and test for further resource expansion at satellite 10-year life, with strong potential from a new high-grade lode deposits. discovered above the base of shaft infrastructure.    On the copper front, Lumwana and Jabal Sayid continued to In Tanzania, significant progress was achieved in moving provide steady cash flow through 2021, as well as operational Bulyanhulu and North Mara closer to potential Tier One status leverage to a metal poised for strong secular growth. as a combined complex.    Our Tier One assets Loulo-Gounkoto Kibali The Loulo-Gounkoto complex comprises the Yalea and Gara Kibali was developed by legacy Randgold and along with underground operations, the Gounkoto open pit and underground Loulo-Gounkoto, ranks as one of the largest gold mines in operations as well as a number of satellite deposits. Africa. Production at Loulo started in 2005 as an open pit operation, Kibali comprises an integrated open pit and underground followed by the development of two underground mines at operation, as well as a 7.2 million tonnes per annum the Yalea and Gara deposits. Access to Yalea and Gara is processing plant. First gold was poured in 2013 from open from portals. The carbon-in-leach processing plant at Loulo pit operations, while full underground commissioning was has a throughput capacity of 4.8 million tonnes per annum. completed at the end of 2017. The majority of underground Commissioned in the third quarter of 2020, the solar plant at ore is hoisted to surface through a shaft. Loulo currently delivers approximately 20MW of power daily    Power is supplied by three hydropower stations supported by depending on the weather. This is expected to reduce CO2e thermal power during the low rainfall periods. In a move to emissions by 27,000 tonnes per year. further reduce diesel consumption, a 9MW battery was installed Gounkoto, a greenfields discovery, poured first gold in 2011 with to provide power surge capacity which is currently supplied ore toll treated through the Loulo plant. Production at Gounkoto by generators. This will reduce the need for thermal power commenced with an open pit but underground mining has top-ups at an estimated saving of 8,000 tonnes of CO2e per started and is ramping up. Gounkoto underground delivered first year. ore in the second quarter of 2021, in line with guidance. 032 Annual Report 2021| Barrick Gold Corporation    

A_RICA AND MIDD_E EA_T (CONTINUED) Case study RESURRECTING BULYANHULU How Barrick transformed a derelict mine into a world-class asset Two years ago, the Bulyanhulu gold mine in Tanzania was on care and maintenance, with only its small tailings %XO¥DQKXOX_KDG_HÎHFWLYHO¥_EHHQ_ reprocessing operation still limping along: a burden to its WUDVKHG_E¥_LWV_SUHYLRXV_RSHUDWRUV_ZKR_ shareholders and the state. DOVR_GHVWUR¥HG_LWV_UHODWLRQVKLS_ZLWK_LWV_ Then Barrick took over, rebuilt and reopened Bulyanhulu, now transformed beyond recognition into one that, along FRPPXQLW¥_DV_ZHOO_DV_WKH_JRYHUQPHQW___ with sister mine North Mara, has the potential to produce %XW_%DUULFNȇV_JHRORJLVWV_VDZ_WKH_YDOXH_ more than 500,000 ounces of gold per year and, according LQ_WKLV_XQORYHG_PLQH_DQG_ZH_VHW_DERXW_ to the latest geological model, can maintain a consistent    production profile to 2040 and beyond. XQORFNLQJ_LW__DSSO¥LQJ_RXU_FRUH_EXVLQHVV_ The first step was to mend bridges with the state, which SULQFLSOHV__ resulted in the establishment of the groundbreaking Twiga Willem Jacobs, Minerals Corporation, a joint venture between Barrick and the government of Tanzania, which oversees the COO Africa and Middle East management of the Tanzanian mines and the equal sharing of the economic benefits they create. Bulyanhulu has also moved away from shipping The drill database was recompiled and validated, concentrates abroad for processing and is now producing underground development was re-surveyed, new mineral gold bars on site. resource and geotechnical block models were generated and mine designs were fully updated. In the meantime, ongoing geometallurgical testwork could The processing plant at Bulyanhulu was completely unlock further resources within developed mine areas refurbished and ramped up to a 145tph throughput, as while brownfields exploration probes the potential within and outside the Bulyanhulu permit for new mining fronts. were the vertical shaft and materials handling infrastructure.    A secondary crushing and sampling circuit was introduced As the mine moves into the final stages of its ramp-up, the along with an open conical stockpile and reclamation workforce has increased from 155 to 878, of whom 94% facility designed to improve mill feed. During the year, it are Tanzanians, with 39% drawn directly from surrounding commissioned a PhotonAssayTM laboratory, the first of its communities. Bulyanhulu is also increasing its economic support for local businesses, with 70% of its procurement kind in Africa and in Barrick’s global operations. now spent with Tanzanian contractors and suppliers. Barrick Gold Corporation|Annual Report 2021 033

Reserves and resources    Strong replacement of depletion at This compares to measured and indicated gold resources of 160 million ouncesi at an average grade of 1.52g/t at both the resource and reserve level December 31, 2020. At December 31, 2021, Barrick’s attributable inferred gold resources were 42 million ouncesi at is a direct result of the geological an average grade of 1.3g/t, compared to 43 million ouncesi at improvements and remodeling an average grade of 1.4g/t the previous year. Excluding the impact of the expected change in equity interest at Porgera, undertaken over the previous the disposal of Lagunas Norte, and the South Arturo asset three years following the Merger. exchange with i-80 Gold, Barrick’s total attributable mineral resource replacement net of depletion was 126%. This The incorporation and integration growth in total mineral resources stems from a combination of increased confiden
ce in the company’s geological models as of mine design optimizations are well as a more integrated approach to mine planning, resulting also driving many of the additions. in improved optimizations that ultimately support increased mineral resource conversion.    Copper reserves for 2021 are calculated using a copper price A sound understanding of the geological orebody has been of $2.75 per pound and resources are calculated at $3.50 per integrated with a better understanding of local variations in pound, both unchanged from 2020. At December 31, 2021, the geotechnical and metallurgical disciplines to produce attributable proven and probable copper mineral reserves integrated and optimized mine designs. were 12 billion poundsi at an average grade of 0.38% . This As at December 31, 2021, Barrick’s attributable proven compares to 13 billion poundsi at an average grade of 0.39% and probable gold reserves were million ouncesi at an 69 for the prior year. average grade of 1.71g/t, increasing from 68 million ouncesi Attributable measured and indicated copper mineral resources at an average grade of 1.66g/t in 2020. Reserves were estimated using a gold price assumption of $1,200 per were 24 billion poundsi at an average grade of 0.35%, and ounce, unchanged from 2020. The year-on-year change inferred copper mineral resources were 2.1 billion poundsi at an average grade of 0.2% at December 31, 2021. This incorporates the net removal of 0.91 million ounces from compares to prior year attributable measured and indicated reserves, due to the expected change in Barrick’s equity interest in Porgera from 47.5% to 24.5%, partially offset copper mineral resources of 25 billion poundsi at an average grade of 0.36%, and inferred copper mineral resources of by the net impact of the asset exchange of Lone Tree to i-80 Gold for the remaining 40% of South Arturo that Nevada 2.2 billion poundsi at an average grade of 0.2% . Gold Mines did not already own. When adjusting for the above ownership changes, the net increase in reserves year-on-year is approximately 3%.    Reserve replenishment, net of depletion, was achieved at three of Barrick’s Tier One Gold Assets – Kibali, Cortez and Turquoise Ridge – while Bulyanhulu, North Mara, and Phoenix also all achieved this milestone. This further moves the Bulyanhulu and North Mara mines closer to potential Tier One status as a combined complex, while the Covid-19 pandemic continued to impact drilling activities at Veladero. The company’s focus on geological modeling is delivering results with year-on-year mineral reserves growing, net of depletion. During 2021, the company converted 8.1 million ounces to attributable proven and probable reserves. Compared to mining depletion of 5.4 million ounces, this represents a notable 150% replacement of depleted ounces. At December 31, 2021, Barrick’s attributable measured and indicated gold resources were 160 million ouncesi at an average grade of 1.50g/t using a gold price assumption of $1,500 per ounce, unchanged from 2020.    034 Annual Report 2021| Barrick Gold Corporation

RE_ERVE_ AND RE_OURCE_ (CONTINUED) Case study REPLENISHING OUR RESERVES Exploration drives the Barrick train Barrick replaced its depletion of gold mineral reserves by    150% and improved the quality of its group reserve grade $_ VWURQJ_ H[SORUDWLRQ_ FXOWXUH_ by 3% in 2021. Reported at $1,200/oz, attributable proven FRPELQHG_ ZLWK_ RXU_ VXVWDLQDEOH_ and probable mineral reserves now stand at 69 million ouncesi at 1.71g/t, increasing from 68 million ouncesi at SURÈ´WDELOLW¥_VWUDWHJ¥_LV_H[SDQGLQJ_ 1.66g/t in 2020. Attributable measured and indicated gold resources for 2021 stood at 160 million ouncesi at 1.50g/t, RXU_DVVHW_EDVH_DV_ZHOO_DV_XQFRYHULQJ_ with a further 42 million ouncesi at 1.3g/t of inferred H[FLWLQJ_QHZ_RSSRUWXQLWLHV_ resources. Mineral resources are reported inclusive of Rod Quick, reserves and at a gold price of $1,500/oz. Attributable proven and probable copper reserves were Mineral Resource Management and    i Evaluation Executive 12 billion pounds at an average grade of 0.38% in 2021. Attributable measured and indicated copper resources were 24 billion poundsi at an average grade of 0.35%, and At the same time, greenfields exploration programs are inferred copper resources were 2.1 billion poundsi at an evaluating new targets with standalone potential away average grade of 0.2% in 2021. Mineral resources are from Barrick’s mines as well as investigating new regions reported inclusive of reserves. Copper mineral reserves and third-party projects with the potential to meet its are estimated using a copper price of $2.75 per pound investment criteria. and mineral resources are estimated at $3.50 per pound. Barrick has also been expanding its global footprint Barrick’s exploration teams continue to uncover new through investments in prospective new properties in satellites and extensions to existing deposits, and the Egypt, Guyana and Japan, and has set up a specialist Asia North America and Africa and Middle East regions more Pacific team to explore opportunities in that region. than replaced reserves after mining depletion last year.    ATTRIBUTABLE CONTAINED GOLD RESERVES1,i ATTRIBUTABLE CONTAINED COPPER RESERVES1,i Moz Blb 80 14 13 0 0.18 70 12 68 8.1 69 (0.64) 12 (0.91) (5.4) 60 10 50 8 40 6 30 20 4 2 10 0 0 2020 Acquisition/ Depletion Net 2021 2020 Acquisition/ Depletion Net 2021 disposition conversion disposition conversion Increase Decrease Total 1 Figures rounded to two significant digits. Barrick Gold Corporation|Annual Report 2021 035

Exploration Disciplined execution aligned with our exploration strategy continues to deliver value close to our operating mines. This is balanced with expanding our footprint into top priority and often underexplored areas far from existing operations as we explore for the next Tier One discovery. Joel Holliday Executive Vice-President, Exploration Mines Filter Reserve definition 27 85 Measured and indicated Feasibility projects and    14 94 resources reserve and resource definition Inferred resources 19 16 7 Filter Advanced targets 1 12 4 Exploration targets Follow-up targets 23 16 3 Filter Identified Identified geological 18 23 22 targets anomalies Target    46 23 36 delineation GENERATIVE Generative    EXPLORATION 25 730 AOI Africa & North Latin America Middle East America & Asia Pacific Barrick’s exploration is managed using the resource triangle — an integrated business tool. Generative work ensures a constant supply    RI_WDUJHWV_WR_WKH_EDVH_RI_WKH_WULDQJOH_DQG_D_VHW_RI_VWULQJHQW_È´OWHUV__DW_ progressive levels within the triangle, ensures the promotion of quality targets and the rejection of inferior ones, with economic deposits ultimately reaching the pinnacle of the triangle. 036 Annual Report 2021| Barrick Gold Corporation    

EX__ORATION (CONTINUED) North America Nevada Gold Mines landholdings encompass more than two Both greenfield opportunities are highlighted by widespread million acres across some of the best endowed gold trends in alteration and Carlin-style geochemistry hosted in unfavorable North America. upper plate cover rocks, and sparse to no drill holes testing fertile structures at the projection with favorable lower plate Highlights of the company’s exploration program for 2021 carbonate rocks. A combination of geological mapping, include the Ren and North Leeville underground projects sampling, modeling, and framework drilling will be used to delivering maiden additions to the resource base, and they advance these early-stage projects toward discovery. are expected to be growth areas for Carlin into the future with mineralization open in all directions. At Hemlo, exploration focus has shifted to assess shallowly plunging shoots east of David Bell, the eastern-most Additional opportunities for near to medium-term life of orebody in the camp. The first of two phases of drilling was mine extensions have advanced at Fourmile and Goldrush completed at the end of 2021, confirming the target criteria at Cortez. As resource definition drilling continues and and motivating a second phase targeting the sparsely tested underground drilling platforms are established, infill and area adjacent to the deeper production levels. extension targets will continue to be tested, adding to the life of mine over the coming years. Longer term opportunities Canada is a priority destination for Barrick and we are also advance in parallel as exploration seeks to discover determined to grow our presence in our home country. Our the next potential high-grade deposit to the north along the generative and new business efforts started to manifest during prospective structural corridor. 2020; a multi-disciplinary hunting team was established, and our first major ground position secured. Over 130km strike of There are also opportunities for new discoveries at Turquoise prospective structural corridors was secured in 2021 through Ridge (between Turquoise Ridge Underground and the four exploration option agreements covering ~124,000ha Twin Creeks open pit) where diligent delineation efforts are in the underexplored Uchi Belt of northern Ontario. Barrick delivering exciting target concepts in the space between two may earn up to an initial 70% interest by meeting certain Tier One deposits. A refined geologic model built on new expenditure and milestone commitments. The Uchi Belt is and legacy data between the deposits has provided a robust host to the world class Red Lake deposit, which in addition framework of litho-stratigraphic and structural context leading to recent new discoveries in unconventional host rocks, has to new target concepts within the high potential trend. supported our views that this district remains underexplored Generative efforts have led to the execution of two exploration and highly prospective. agreements in North-East Nevada. One is on the Battle Mountain-Eureka trend, expanding the Cortez district westward and the other, just outside of the Nevada Gold Mines area of interest.    Barrick Gold Corporation|Annual Report 2021 037

EX__ORATION (CONTINUED) /DWLQ_$PHULFD_DQG_$VLD_3DFLÈ´F Over the last year, our teams have generated and are testing In Southern Peru, we have secured the ground over the targets across our existing landholdings while pushing into Ichuraya project that is emerging as the next significant target new frontiers in the Guiana Shield, Peru and Argentina. for gold exploration in the district. We also continue our work to get drilling approval for the Cerro Amarillo and Tumaruma In the Dominican Republic, we continue to explore the larger projects. area around our Pueblo Viejo mine. A new structural model led to the recognition of different corridors of prospectivity, In the Guiana Shield, we have made the leap from generative notably including the Zambrana corridor, where our work activities to consolidating a meaningful land package covering continues to confirm the potential for a significant blind target 85,000ha via multiple exploration option agreements and at Arroyo del Rey. Elsewhere in the Dominican Republic, Barrick applications. The prospective Makapa project we have started to assess our permits in two of the most land package is situated along a fertile segment of a major prospective mineral districts. structural corridor which extends the length of the Guiana Shield and has a close association with major gold deposits We have been very active across the El Indio Belt in Chile and discovered to date. The area has seen little to no prospecting Argentina, where we have drilled nine different targets during or exploration due to the presence of post mineral sand cover the past year. Notably, we have been able to identify and which is masking the underlying potential. The presence of extend known mineralization to the east of Lama, discovered nearby alluvial workings and elevated gold geochemistry at gold mineralization at Cerro Pelado at Veladero and identified surface however, hints at the hidden mineral potential. We several porphyry targets. will be applying our knowledge and skills from our successful At Alturas—Del Carmen, as the delineation of the main deposit exploration in West Africa, which has similar geology, to continues, exploration confirmed the presence of both high- expedite the exploration and expected discoveries in this belt. sulphidation and porphyry mineralization at Carmen Norte, The Japan Gold Alliance was formed in early 2020 and providing opportunity to add value to the project. since then, the portfolio has grown by 42% to 29 projects In the mining-friendly Salta Province of northern Argentina, covering 203,000ha. The majority of the portfolio has been we have made significant progress on our exploration work geochemically screened, however due to Covid-19 related at El Quevar, a prospective property which has been under- restrictions, the initial two-year evaluation period has been explored for its gold potential. Three targets have advanced extended to August 31, 2022 to facilitate completion of the and will be drilled in 2022. first pass screening phase. Multiple geochemical anomalies In Peru, our generative work has identified new, early-stage have been defined across the portfolio, including over 40 gold opportunities across the country. Two areas with the potential anomalies which require greater geological context to rank to deliver a large deposit were identified close to the Pierina and rate target areas. Upon completion of the initial evaluation mine. phase this coming August, properties will be ranked and either prioritized for more detailed investigations or removal from the alliance. 038 Annual Report 2021| Barrick Gold Corporation

EX__ORATION (CONTINUED) Africa and Middle East In Senegal, we expanded our footprint in the highly prospective Conceptual but potentially ‘game changing’ geological targets and underexplored Falémé Domain through the establishment are also being developed in and around the KCD corridor. of the Dalema joint venture. Early stage screening programs Consolidation efforts in Tanzania have continued throughout are planned to replenish the bottom of our resource triangle. the year focusing on establishing contiguous exploration Meanwhile we have continued to generate and test targets footprints in our key areas of interest. Highlights include the on our contiguous Bambadji joint venture. Indications of granting of 19 new permits distributed across 5 prospective blind mineralization with complex geometries (Kabewest) and greenstone belts and the announcement of the Tembo widespread geochemical anomalism in non-traditional rocks transaction to acquire 6 prospecting licenses located along (albitites) continue to highlight the prospectivity and potential for strike of our world class Bulyanhulu gold deposit. Integrated new discoveries. exploration programs are underway to identify Tier One Across the Falémé River into Mali, the Loulo District is a true potential on our greenfields projects and brownfields satellite Tier One terrain and continues to deliver significant upside and opportunities. discovery potential in addition to replacing 98% of depletion In the Central African Copperbelt, a world class copper in 2021. destination by any metric, the restart of exploration at Drilling and modelling work in the Faraba district has raised the Lumwana has had an immediate impact, with the Lubwe potential of linking Faraba North and Main over a 2km strike target showing early potential to add significantly to the mine length of the system highlighting a significant opportunity. The life. In parallel, we continue to search for opportunities to grow exploration team continues to evaluate early stage near surface our portfolio in this prolific terrain. opportunities while investigating the potential at depth within key Further afield we continue to highlight opportunities and structural corridors. establish an exploration presence in the most prospective In Côte d’Ivoire, the Seydou North discovery is showing potential gold and copper districts in the region. On the African-Nubian to extend Tongon’s mine life. We also continue to assess multiple shield in Egypt, following a successful bidding process, we additional early stage satellite opportunities that have potential to were granted four project blocks covering over 2,900km2 provide further extensions. and teams are in the field assessing those opportunities. At Jabal Sayid in Saudi Arabia, the team has been successful At our Kibali Gold Mines joint venture in the DRC, more ounces in replacing depletion again, extending all known lodes and were added than mined throughout 2021. Drilling on the Kalimva generating new targets along key structures. deposit is investigating the potential for high grades to support an additional underground operation.    Barrick Gold Corporation|Annual Report 2021 039

Mining sustainably for a better future Barrick actively manages community development, the protection of biodiversity, respect for human rights and climate risk with the same    ULJRU_DQG_GLOLJHQFH_DV_RXU_RSHUDWLRQV_DQG_È´QDQFHV___7KHVH_DVSHFWV_DUH_ deeply connected and must be tackled holistically if we are going to make meaningful impact. That is why our resettlement programs in the DRC have built Unfortunately, we recorded two fatalities across the group in 2021. alternative livelihoods as well as providing access to water and In-depth investigations, and detailed corrective action plans have solar power to resettled communities, and why in Zambia our been implemented but such losses remain a hard reminder of the biodiversity and forest conservation projects also integrate need to continually invest in visible safety leadership at all levels poverty alleviation while providing the potential for carbon offsets. and to embed safety-first behavior for every individual. Sustainability is often future focused however but the here and We are committed to being transparent and honest in our now are also critically important, and nowhere is this more evident approach, to demonstrating progress and to finding creative than health and safety. Our goal is Zero Harm, making sure our and comprehensive solutions that protect nature without leaving people go home safely. behind any members of society.    We have seen encouraging progress in many areas, including Mining touches more people and impacts more of everyday a 13% reduction in our total recordable injury frequency rate, life than any other industry. It is crucial to building a sustainable certification of all operational sites to the ISO 45001 health & economy and Barrick remains determined to play its part in that. safety standard, and progress towards the implementation of the Global Industry Standard on Tailings Management (GISTM) across both operational and closed facilities.    Honing our approach    Our sustainability strategy rests on four interconnected features: creating economic benefits for all stakeholders, protecting health & safety, respecting human rights and minimizing our environmental impacts.    Minimize We have a bottom-up governance structure that empowers each    Create    environmental mine to be responsible for managing sustainability, while also    economic    impacts providing oversight and expert guidance at the group level. Our benefits Environmental & Social Oversight Committee – one of our most senior management-level bodies – connects site-level ownership Our of sustainability with our Board, alongside regular interaction from the Group Sustainability Executive and Regional Sustainability Sustainability Leads. We also tie incentive compensation for our senior leaders to the achievement of company-wide sustainability targets such Strategy as safety, community relations and environmental performance, human rights and anti-corruption. Protect Respect As part of our commitment to transparency we also publish our Health and Human Sustainability Scorecard, now in its third year, which shows how Rights we define good practice and benchmark ourselves against peers.    Safety Full details of our strategy and governance including our suite of sustainability policies, our stakeholder engagement practices and materiality assessment are available in the Sustainability section of our website.    040 Annual Report 2021| Barrick Gold Corporation    

MINING _U_TAINAB__ _OR A BETTER _UTURE (CONTINUED) Sustainability Scorecard At Barrick, we believe in measuring and transparently reporting The metrics to be included are reviewed and updated each year to our ESG performance. From diversity to development we want promote constant drive for improvement. For 2021, the grading to be clear about what best practice looks like, and to rate and key was updated to reflect a total of 22 measures, compared to a benchmark ourselves in each area against peers and our own total of 17 measures in 2020. previous performance. The results show that Barrick received a B grade in 2021, That is why, working with independent sustainability experts, unchanged from 2020. However, some notable improvements we have developed our Sustainability Scorecard. This includes in indicators include ISO 45001 and ISO 14001 certification, key performance indicators aligned to the four pillars of our development of Biodiversity Action Plans (BAPs) at all operational sustainability strategy and is informed by the expectations of the sites and improvement in water reuse and recycling rates. We United Nations Global Compact and relevant frameworks such automatically rank ourselves in a bottom quintile score on safety as the World Gold Council’s Responsible Gold Mining Principles in the occurrence of a fatality. (RGMPs) and the Mining Principles (MPs) developed by ICMM    Separate to this process, each operating mine also undertook self-(International Council on Mining & Metals), which we collectively assessments against the RGMPs and MPs and developed action refer to as the RGMP+. plans to close identified gaps. Our 2021 Sustainability Report The abridged Sustainability Scorecard is published below. The assurance process includes assurance against these action score is expressed as a ranking for each metric in quintiles to plans and their progress. Refer to the independent Assurance produce a score of 1 (top) – 5 (bottom). The score for each Statement for our progress against RGMP implementation at indicator was then summed to produce a total score against www.barrick.com/sustainability/reports-and-policies. which we have graded ourselves using an A-E banding.    FIGURE 1: ABRIDGED SUSTAINABILITY SCORECARD Quintile Quintile    Indicator 2020 2021 Trend Total Recordable Injury Frequency Rate 5 5 Safety Percentage of operational sites certified to ISO 45001 3 1 Percentage of sites with Community Development Committees (2020) changed to Percentage    1,2,4 1 2 N/A of annual Community Development Committees commitments met (2021) Social &    Percentage of workforce that are nationals 1 1 economic development Percentage of senior management that are nationals 2 2 Percentage of economic value that stays in country 2 2 Percentage of grievances resolved within 30 days1,3,4 N/A 4 N/A Percentage of security personnel receiving training on human rights 2 1 Human rights Corporate human rights benchmark score 4 4 Independent human rights assessments with zero significant findings at high risk sites1,3,4 N/A 1 N/A Number of significant environmental incidents 1 1 Tonne CO2e per tonne of ore processed 3 3 Emissions reduction target (2020) changed to Progress against absolute emissions target (2021)1,2,4 1 1 N/A Water use efficiency (recycled & reused) 2 1 Environment Percentage of operational sites with Biodiversity Action Plans (BAPs)1 2 1 Independent tailings reviews conducted1 1 1 Percentage of sites certified to ISO 14001 (2020) changed to Percentage of ISO 14001 certified    2,4 1 1 N/A sites maintained (2021) GISTM progress1,3,4 N/A 2 N/A Proportion of operational sites achieving annual concurrent reclamation targets1,3,4 N/A 2 N/A Progress against RGMP+ implementation1,3,4 N/A 2 N/A Governance Percentage of employees receiving Code of Conduct training1 1 1 Percentage of supply partners trained on Code of Conduct at time of on-boarding1 1 1 33 405 Overall score B B 1 Internal metrics. 2 Metrics that were changed in 2021 to promote constant improvement. 3 New metrics included for 2021. 4 N/A due to changes in the metrics that are not comparable year-on-year. 5 The scores are not directly comparable due to the fact that additional metrics were added in 2021. However, where metrics are comparable Barrick recognised an improvement. Barrick Gold Corporation|Annual Report 2021 041

MINING _U_TAINAB__ _OR A BETTER _UTURE (CONTINUED) Catalyzing social development Mining can and should help achieve many of the UN where it becomes necessary, we also seek to identify social Sustainable Development Goals (SDGs). It is an engine development opportunities for the communities involved. For driving socio-economic development, helping achieve example, we offer resettled community members the option of SDG 1: Ending poverty. The interconnection between SDGs access to micro-hydropower or solar power when building or has been a key theme for Barrick in 2021 and we have sought to receiving their new homes, alongside support for non-mining build climate resilience in host communities through economic livelihoods and access to basic services. upliftment – from investing in education, to agriculture projects that support food security to ensuring groundwater provision. FIGURE 2: ECONOMIC VALUE STATEMENT In 2021, Barrick invested more than $26 million in 2021 2020 2019 community development projects around our mines including Total economic value entrepreneurship training in Mali, support for students in Nevada and improved access to water in San Juan, Argentina. contributed $12.4b $12.1b $9.3b Proportion of employees that    We allocate these budgets through Community Development are host country nationals 96% 97% 97% Committees (CDCs) that bring together local stakeholders and put communities in the driving seat to allocate funds based on Number of senior management that are host country nationals 78% 80% 76% the specific communities’ needs. Procurement to local and/or national vendors $5.5b $4.5b $4.4b Community investments are only one of four parallel ways in which we create value and deliver social and economic development for our host countries. We also do this by paying 7KH_QHW_EHQH¿WV_RI_RXU_PDODULD_ our fair share of tax, by prioritizing local hiring (78% of senior progam management were host country nationals in 2021), and by supporting local vendors through procurement and training. As with most of our sustainability activity, our work to As shown in Figure 2, we distributed over $12.3 billion in 2021 combat malaria in Africa is driven by fundamental business to our workforce, suppliers, host communities and beyond. requirements.    As part of this, we spent approximately $5.5 billion on goods Malaria accounts for as much as 20-25% of all worker and services from local and host country suppliers in 2021, absences every year and it is in the interests of our business, equating to 82% of our total procurement spend. Of this, as well as the welfare of our workforce and host communities, $1.65 billion was spent on local suppliers from communities that we take meaningful steps to eradicate malaria from the closest to our operations. areas around our mines.    Where local or host country suppliers are not able to supply We have set an on-going target of a 5% year-on-year reduction the products or quality we require, our site teams work to in malaria incidence rates and during 2021, we spent more than build capacity and improve standards through mentorship $1.1 million on initiatives to combat the disease and achieved an programs, skills training, or by providing loans to cover the 8% incidence reduction compared to 2020. Our efforts included: cost of materials needed. The Emprende Alto initiative in „ Larvaciding within a 10km radius of our mines and Chile, for example, offers financial and technical support in distributing impregnated mosquito nets across areas like marketing and accounting to emerging suppliers. In communities. 2021 this initiative supported more than 230 small businesses „ Working with an entomology consultant to understand and entrepreneurs by investing over $1.2 million, supervised which chemicals will be most effective to spray at each by the CDC. site.    Managing resettlement and „ Training staff to ensure correct chemical spraying techniques and expanding the areas sprayed. grievances „ Providing insect repellent to night shift workers (who are at higher risk of exposure to the disease).    An important part of our engagement with communities is our some „ In regions, providing prophylactic anti-malarial process to enable communities to formally lodge grievances. medication to our workforce during the four-month Our grievance mechanism helps us to understand and address transmission season. any community concerns before they escalate and our goal is to respond to all grievances lodged within 30 days of receipt. We have started to see real results in driving down malaria During 2021, we received 447 grievances across all regions. incidence at all our mine sites, helping combat absenteeism. Full details of this mechanism will be available in our upcoming In Kibali (DRC) incidence was down 18% in 2021 and has 2021 Sustainability Report. reduced eight-fold from a baseline taken when the mine was first built. Incidence at Lumwana (Zambia) and North Mara During 2021, we also undertook resettlement planning and (Tanzania) reduced by at least 60% in 2021 underlining the engagement at our Kibali and North Mara mines. Those effectiveness of our program. community members to be resettled are given the option of having a house built for them, or to receive funds to build their own houses. We aim to avoid, minimize or mitigate the need for resettlement wherever possible but,    042 Annual Report 2021| Barrick Gold Corporation

MINING _U_TAINAB__ _OR A BETTER _UTURE (CONTINUED) Health & safety Mines are dangerous places to work and implementing robust safety management measures and creating a zero- Combatting Covid-19 and harm culture, is a foundational value for Barrick. We know supporting wellness we must work hard every day to keep our people and the communities around our operations safe. Throughout 2021, we continued our efforts to prevent We did not do that in 2021, and we recorded two tragic and Covid-19 transmission across all host countries and local fatal accidents in 2021, the first at Hemlo in Canada, and the communities by maintaining protocols such as hand sanitizing second at Tongon in Côte d’Ivoire. Our response to these on entry, encouraging social distancing and using masks. We events is double pronged. At a site and operational level, we also have worked throughout the year to promote, obtain carried out full investigations to understand the root cause and roll out vaccines. Not just for our people, but also their of each incident and implemented corrective action plans to families and the communities in which we operate, particularly prevent recurrence. On a human level, we have worked to at our operations in Africa which were left behind in the global provide support to the families of the victims and to their co- vaccination drive. workers and extended teams on the ground. As at the end of 2021, 59% of our people were fully vaccinated We achieved our goal to certify all our operational sites to and a further 8% partially vaccinated, with the numbers ISO 45001 standards by the end of 2021. At group-level we continuing to increase daily. We have also supported our saw the total recordable injury frequency rate (TRIFR) improve host governments and communities, and at Pueblo Viejo almost 13% year-on-year and by over a third since 2019. Our in Dominican Republic we were publicly recognized by lost time injury frequency rate (LTIFR) shows a significant 24% the Provincial Ministry of Health for our contribution to the reduction since 2019, but a slight increase on 2020. vaccination program.    In 2021, in the wake of Covid-19 we also increased our focus    FIGURE 3: OUR SAFETY PERFORMANCE on mental health issues both inside and outside our mine 2021 2020 2019 gates. In the US for example, our mines have partnered with local non-profits such as Vitality Unlimited to bring behavioral LTIFR 0.38 0.34 0.50 health services to community members. Our Nevada Gold TRIFR 1.47 1.68 2.24 Mines complex donated $10,000 to each organization for individual, family, or group counseling services and has seen Taking preventative safety action in 76 individuals receive 114 consults with our partner providers since July 2021. Nevada Mental health is just one aspect of our occupational health Analysis of high potential incident (HPI) data at our Nevada activity. In 2021, all our workers (100%) were covered Gold Mines complex this year showed that one of the most by occupation health and safety programs which include frequent incident types was Metal to Metal (M2M) ie incidents regular medical checks for employees, job specific risk of interaction between heavy mobile equipment or light assessments, personal protective equipment (PPE) and vehicles. using engineering controls and shift rotation to help minimize exposures to hazards. Fortunately to date the bulk of these incidents have been minor with no significant injuries. However investigating leading indicators and HPIs affords us the opportunity to identify trends and implement remedial actions proactively to ensure such events do not lead to injuries.    First the NGM safety team undertook a deep dive review of the root cause analysis from past incidents and identified three main contributing factors: poor communication, limited visibility, and lapses in judgement. Next the site established cross-functional teams – made up of operators, supervisors, superintendents, safety specialists, and led by the mine managers – and sought to identify any gaps or areas of concern. Then, the site created action plans to close out such gaps. Finally, we developed a safety share exercise to raise awareness of M2M incidents at safety meetings and to get feedback directly from the operators as to their perspective and experience. Encouragingly, HPI frequency at the complex improved quarter-on-quarter throughout 2021, and we had a 92% decrease from 13 M2M incidents in Q1 to just one in Q4. Barrick Gold Corporation|Annual Report 2021 043

MINING _U_TAINAB__ _OR A BETTER _UTURE (CONTINUED) Respecting human rights and harnessing diversity Recognizing and respecting human rights has long been a Mining is historically a male-dominated industry and we fundamental value for Barrick. It is embedded as one of the also work to right the gender imbalance in the wider mining four key pillars of our sustainability vision and strategy and our industry including through internal leadership initiatives approach can be easily summed up: we have zero tolerance for targeted to support the development of female talent, raising human rights violations wherever we operate. awareness among local communities about the value of female economic empowerment, working with governments to Our commitment is codified in our standalone Human Rights Policy remove barriers to employment and supporting alternative and informed by the expectations of the UN Guiding Principles on livelihood opportunities for women. Business and Human Rights (UNGPs), the Voluntary Principles on Security and Human Rights (VPs), and the OECD Guidelines for Multinational Enterprises. Our Human Rights Policy also sets out our commitment to recognizing the unique rights and social, 7KH_FKDOOHQJHV_RI_È´JKWLQJ_SRYHUW¥__ economic and cultural heritage of Indigenous Peoples. FOLPDWH_FKDQJH_DQG_ELRGLYHUVLW¥_ORVV_DUH_ It is a policy we implement on the ground via our Human Rights VR_GHHSO¥_FRQQHFWHG_WKDW_ZH_KDYH_QR_ Program, which includes monitoring for human rights incidents RSWLRQ_EXW_WR_WDFNOH_DOO_RI_WKHP__WR_PDNH_ and reporting them – including through our site grievance mechanisms, hotline reports and internal and external audits. It ODVWLQJ_SURJUHVV_LQ_DQ¥_RI_WKHP_ also includes due diligence that sees all our mines conduct human rights assessments on at most a three-year cycle. Those mines Grant Beringer, most exposed to human rights risks are independently assessed on a two-year cycle. In 2021, we undertook independent human Group Sustainability Executive rights assessments at our Kibali, Loulo-Gounkoto, Pueblo Viejo, North Mara and Bulyanhulu mines.    The Human Rights Program also entails training for all employees on our human rights expectations and additional specialist human rights training, and training on the Voluntary Principles on Security and Human Rights (VPs) for highly-exposed workers such as security personnel. Human rights measures are also built into our supplier onboarding and due diligence process. Human rights is an area we feel strongly about. In 2021 we published a stand-alone Human Rights Report detailing this program in full, including our roll out of online training for human rights during the Covid-19 pandemic to ensure our commitment was not hampered by global lockdowns. This report also reflects on actions we have taken to remedy legacy situations that occurred before new management took over Barrick in 2019, as well as the systems we have or are putting in place to prevent any recurrence. Embracing inclusion We know a diverse workforce provides the wide range of thinking and problem-solving skills necessary to run a global company. At Barrick, our approach to diversity is to foster a supportive working environment in which all individuals realize their maximum potential. We employ the best people to do the job irrespective of gender, race, disability, ethnicity, religious belief or sexual orientation – a commitment codified in our Diversity Policy. We have an aspirational target for women to account for at least 30% of the Board of Directors by the end of 2022 and, in 2021, 27% were female. In 2021, 11% of our workforce were female, an increase from 10% in 2020. 044 Annual Report 2021| Barrick Gold Corporation

MINING _U_TAINAB__ _OR A BETTER _UTURE (CONTINUED) Responsible environmental stewardship Our commitment to minimizing our impact on the natural Power Purchase Agreements (PPA) that enable NGM to determine environment is one of the four interconnected pillars of our energy sources of the power consumed, allowing renewable or sustainability strategy. 2021 was a year focused on execution lower emissions sources to be prioritized. and delivery on the environmental front with all operational sites Another key achievement of the year was the completion of achieving ISO 14001:2015 certification for their environmental work to set a baseline for, and engage with our supply chain on, management system, and our site-led teams reducing ‘Class 2’ Scope 3 emissions (emissions that are a result of our suppliers (medium-level) environmental impacts by 38% compared to and value chain). This exercise revealed that Scope 3 emissions 2020, and recording zero ‘Class 1’ (significant) environmental for our Tier One assets account for more than 40% of our total incidents for the third consecutive year. emissions and we aim to put in place a stretching reduction target Building resilience for our value chain in the year ahead. In the previous section, we discussed how many of our social Safeguarding biodiversity development efforts are geared to building the resilience of    At Barrick we are conscious of the urgent action required to communities to environmental degradation – from agricultural halt biodiversity loss and are committed to playing a positive projects that ensure food security to boreholes that bring role in the preservation of flora and fauna in our host countries. access to water. At the same time, we recognize that climate All our sites now have detailed Biodiversity Action Plans (BAPs) change, including shifts in temperature and more extreme and associated Biodiversity Management Plans (BMPs) which weather, is likely to increasingly affect our operations in the document the Key Biodiversity Features in or impacted by a years to come, and we are also building the resilience of our site, and the strategy to be adopted to minimize risks and company to climate and wider environmental risks. Since maximize opportunities with the ultimate goal of achieving no-2019, we have worked to disclose against the requirements net loss. of the Task Force on Climate-Related Financial Disclosures (TCFD) as part of our annual sustainability reporting. In the US, sub-Saharan Africa and Papua New Guinea, we partner with NGOs, conservation groups, local authorities Water security and communities to deliver positive biodiversity impacts in Access to water is a fundamental human right and we therefore these regions. In Latin America, we are supporting work to carefully manage our use of local water bodies with the aim to restore wetlands and protect species such as the Andean cat, have minimal negative impact on nearby communities. We see vicunas and migratory birds in the High Andes. One way we this as critically important to our business. do this is through partnerships with conservation actors such as African Parks. We’ve long partnered with African Parks in We take a risk-based approach to water management. Each the Garamba National Park in the DRC. mine has its own site-specific water management plan, which takes into account the different water sources available, local Garamba is Africa’s oldest national park and in 2022, we hope climate conditions and the needs of local users and of the mine. to realize a long-held ambition of re-introducing rhino in the park. In regions identified as water scarce, we take particular care Last year we also undertook work to help fill a knowledge to monitor the supply of freshwater for local communities and gap around what best practice reporting on biodiversity the ecosystem, aiming to use low-quality water and to reuse should look like for the mining sector and, looking ahead, as much water from our processes as possible. For mines we hope to work with the wider industry – through groups where water stress is experienced as surplus, our approach such as ICMM – to raise the bar on biodiversity action across focuses on diverting large volumes of water or storing it as the sector. More details on our environmental stewardship, clean water to discharge back into the environment. including details of our approach and performance on waste In 2021, we reused or recycled 82% of the water used, management (including tailings) and air emissions are available surpassing our target of 80%. We also continue to report in our upcoming 2021 Sustainability Report. using the market-leading ICMM Water Accounting Framework FIGURE 4: SNAPSHOT OF ENVIRONMENTAL INDICATORS (full details available in our upcoming 2021 Sustainability Report). 2021 2020 2019 Proportion of sites certified to    Climate resilience 100% 94% 76%    ISO 14001 Tackling climate change requires global collective action. Our Class 1 environmental incidents 0 0 0 GHG emissions roadmap sets a target to reduce Scope 1 and 2    Class 2 environmental incidents 5 8 13 emissions by at least 30% by 2030 (from a 2018 baseline), while maintaining a steady production profile. This is a target grounded Water use efficiency (reused    82% 79% 73% and recycled) in practical measures and does not rely on closing mines, lowering production nor aspirational technology. Total Scope 1 and 2 emissions    1 7,105 7,527 7,668 (kt CO2e) In 2021 our total Scope 1 and 2 emissions were 7,105kt of CO2e,    Percentage of operational sites which was a reduction of more than 5% compared with our 2018 100% 92% 54% with BAPs baseline. A key driver for this reduction was NGM’s execution of    1 2020 value restated – see upcoming 2021 Sustainability Report. Barrick Gold Corporation|Annual Report 2021 045

MINING _U_TAINAB__ _OR A BETTER _UTURE (CONTINUED) Case study ADVANCING TO NET ZERO Barrick aims to be Net Zero by 2050 Barrick has set itself the target of cutting its greenhouse gas emissions (GHG) by 30% by 2030 with the ultimate aim of net 7UDQVLWLRQLQJ_WR_FOHDQHU__PRUH zero by 2050, while maintaining a steady production profile. HIILFLHQW_HQHUJ¥_VRXUFHV_LV_QRW_ The company has a clear roadmap for the reduction RQO¥_ WKH_ ULJKW_ WKLQJ_ WR_ GR_ of emissions, which is based on climate science and operational realities. It does not rely on mine closures, HQYLURQPHQWDOO¥_È,_SRZHU_LV_WKH_ production cutbacks or the hopeful expectation of ELJJHVW_FRVW_IDFWRU_LQ_PLQLQJ__VR_WKLV_ reductions by suppliers or governments. The ultimate aim is net zero emissions but the roadmap has landmarked DOVR_PDNHV_FRPPHUFLDO_VHQVH__ targets towards this goal based on practical and available Grant Beringer, options. The company’s target is not static, however, and is constantly reviewed and updated as further reduction Group Sustainability Executive opportunities are realised. We have already allocated capital for projects that achieve    Our reduction strategy is not static and we are constantly 25% of our 2030 target with $800 million of further investment reviewing new decarbonisation opportunities and a planned for developments such as the conversion of coal to detailed roadmap will be provided in our upcoming 2021 natural gas (NG) at the TS power plant (TSPP) in Nevada, Sustainability Report. The implemented projects and other installation of solar capacity in Mali and Nevada, installing initiatives for which capital has been committed is shown below. lines to cleaner renewable grids in Argentina and national grids in Tanzania as well as implementing battery technology Barrick’s focus is not only about reducing the GHG and exploring new energy-saving assay methods in Tanzania. emissions at its current operations but also about tracking Each site also has a Climate Champion looking for new ways and embracing new technology and innovation to ensure the to further reduce emissions on site and in communities, from new mines it builds in the future are designed to be industry switching off lights to introducing electric vehicles. leading when it comes to clean power. GHG EMISSIONS REDUCTION ROADMAP1,2    k tonnes CO2e 8,000 7,500 7,000 6,500 6,000 5,500 5,000 2018 base year Quisqueya NG Kibali battery Loulo 20MW solar NGM PPA 2021 implemented Veladero transmission TSPP NG PV lime kiln TSPP solar P1 TSPP solar P2 Jabal Sayid solar PV solar Loulo solar expansion LED replacement 2030 proposed reductions 1 The roadmap includes reduction initiatives only. Operational expansions and increases are not included. Solar to replace natural gas output at TSPP, assuming unchanged generation capacity. 2 TSPP: P1 (Phase 1); P2 (Phase 2). 046 Annual Report 2021| Barrick Gold Corporation

Endnotes i    Please see page 138 of this annual report for corresponding „ This five-year indicative outlook excludes: endnotes. o Production from Porgera, which was placed on temporary care and maintenance in April 2020. We expect to ii update our guidance to include Porgera following the Key assumptions 2022 2023+ execution of all the definitive agreements to implement the Gold Price ($/oz) 1,700 1,200 binding February 2022 Porgera Project Commencement Agreement (which replaces the Framework Agreement Copper Price ($/lb) 4.00 2.75 signed in April 2021) with the Government of Papua New Oil Price (WTI) ($/barrel) 65 65 Guinea and the finalization of a timeline for the resumption of full mine operations. AUD Exchange Rate (AUD:USD) 0.75 0.75 o 100 Production from Fourmile. ARS Exchange Rate (USD:ARS) 100 Production from Pierina and Golden Sunlight, which are o    CAD Exchange Rate (USD:CAD) 1.30 1.30 currently in closure. CLP Exchange Rate (USD:CLP) 800 800 o Production from long-term greenfield optionality from EUR Exchange Rate (EUR:USD) 1.20 1.20 Donlin, Pascua-Lama, Norte Abierto or Alturas. „ Barrick’s 10-year gold production profile is subject to change    „ This five-year indicative outlook is based on our current and is based on the same assumptions as the current operating asset portfolio, sustaining projects in progress 5-year outlook, except that the subsequent five years of the and exploration/mineral resource management initiatives in 10-year outlook assumes attributable production from execution. This outlook is based on our current reserves and Fourmile as well as exploration and mineral resource resources as disclosed in our Annual Report and assumes that management projects in execution at Nevada Gold Mines. we will continue to be able to convert resources into reserves.    Additional asset optimization, further exploration growth, new „ Barrick is closely monitoring the global Covid-19 pandemic project initiatives and divestitures are not included. For the and Barrick’s guidance may be impacted if the operation or group gold and copper segments, and where applicable for a development of our mines and projects is disrupted due to specific region, this indicative outlook is subject to change and efforts to slow the spread of the virus. „ Barrick’s long-term gold and copper price assumption is assumes the following: $1,200/oz and $2.75/lb, respectively. Royalty expenses o Commissioning of the Turquoise Ridge Third Shaft by the included in the per ounce cost metrics for our five-year gold end of 2022. outlook is based on a gold price assumption of $1,700/oz for o Production from the Pueblo Viejo plant expansion and i mine life extension project starting in 2023. 2022 onwards. Our realized gold price in 2021 was $1,790/oz. Royalty expenses included in the per pound cost metrics for our o Production from the Zaldívar CuproChlor® Chloride five-year copper outlook is based on a copper price assumption Leach Project in 2022. Antofagasta is the operator of of $4.00/lb for 2022 onwards. Our realized copper price in 2021 Zaldívar. was $4.32/lb i. Barrick Gold Corporation|Annual Report 2021 047

Financial Report for 2021 Contents Management’s Discussion and Analysis 49 / Mineral Reserves and Resources 145 / Financial Statements 156 Notes to Financial Statements 161 / Shareholder Information 208