Mr. Mark Bristow reports

BARRICK ANNOUNCES NEW SHARE BUYBACK PROGRAM

Barrick Gold Corp. plans to undertake a new share repurchase program for the buyback of its common shares.

Barrick's board of directors has authorized a new program for the repurchase of up to $1-billion (U.S.) of the company's outstanding common shares over the next 12 months at prevailing market prices, in accordance with applicable law. In connection with the new share repurchase program, Barrick has terminated the share repurchase program announced by the company on Feb. 15, 2023. The company did not repurchase any common shares under its 2023 share repurchase program. Barrick repurchased $424-million (U.S.) in common shares under its 2022 share repurchase program.

Under the program, repurchases can be made from time to time through published markets in the United States, such as the New York Stock Exchange, using a variety of methods, including open-market purchases, as well as by any other means permitted under the rules of the U.S. Securities and Exchange Commission and other applicable legal requirements.

Barrick believes that, from time to time, its common shares trade at prices that may not adequately reflect their underlying value. The actual number of shares that may be purchased, if any, and the timing of such purchases will be determined by Barrick based on a number of factors, including: the company's financial performance; the availability of cash flows; and the consideration of other uses of cash, including capital investment opportunities, returns to shareholders and debt reduction.

The repurchase program does not obligate the company to acquire any particular number of common shares, and the repurchase program may be suspended or discontinued at any time at the company's discretion.

We seek Safe Harbor.