BARRICK GOLD: GOLD INDUSTRY LEADERSHIP

CEO Strategic Memo

June 2030 | CEO Edition

Barrick is the gold industry leader with superior cost structure and assets.

Strategy: (1) Optimize production and reduce costs further; (2) Explore for new deposits; (3) Return capital through dividends and strategic buybacks; (4) Maintain financial strength.

Target: Maintain industry-leading margins and ROIC. Return ~50% of free cash flow to shareholders.