Barrick Mining (ABX) investor relations material

Strategic priorities and progress

• Four key pillars guide the turnaround: safety, operational delivery, growth, and a North American IPO, with ongoing safety initiatives and trust rebuilding.

• Achieved four consecutive quarters of meeting production and cost guidance, with gold production guidance set at 3.65–3.75 Moz for 2026 and a consistent outlook through 2028.

• Major growth projects advancing at Pueblo Viejo, Lumwana, and Fourmile, with integration and expansion plans underway.

• North American IPO remains on track for year-end or early January, or by end of 2026, subject to market and regulatory conditions.

North America growth and operations

• Focus on returning Nevada Gold Mines (NGM) to a 3-million-ounce annual producer, leveraging four Tier One assets and new processing infrastructure.

• Integration of Fourmile into Cortez enables increased processing capacity, aiming for sustained production above 1 Moz per year by 2029.

• Exploration spending in North America will match current global levels, accelerating target development and supporting low-risk brownfield expansion.

• Additional processing at Cortez and Carlin supports sustained production rates for over a decade, with open pit expansions extending mine life beyond 2050.

• NGM is positioned for production growth above 3 Moz annually post-2030, supported by new rail infrastructure.

Rest-of-world portfolio and disciplined growth

• Portfolio spans nine countries and two commodities, with more than half of group reserves and all copper assets.

• Kibali, Veladero, and Loulo-Gounkoto are key assets, with Loulo-Gounkoto ramping up ahead of schedule and a renewed 10-year mining license.

• Lumwana Super Pit expansion is on time and budget, targeting first copper by end of Q1 2028 and doubling annual copper output.

• Seven consecutive years of meeting or exceeding production guidance, with a focus on safe, stable operations and strong stakeholder partnerships.

• Disciplined capital allocation framework governs all growth projects, with feasibility studies and expansion options under review at Kibali, Twiga, Veladero, and Reko Diq.