Barrick Confirms Per Share Distribution Amount for the Third $250 Million Return of Capital Tranche
PRESS RELEASE
NYSE : GOLD TSX : ABX
All amounts expressed in US dollars
Barrick Confirms Per Share Distribution Amount for the
Third $250 Million Return of Capital Tranche
Toronto, December 1, 2021 – Barrick Gold Corporation (NYSE:GOLD )(TSX:ABX) today
confirmed that the per share amount of the third and final $250 million1 tranche of a return of
capital distribution totalling $750 million to be paid on December 15, 2021 will be $0. 1405058,
based on the number of issued and outstanding shares as of the November 30, 2021 record date.
This follows the approval by shareholders at Barrick’s Annual and Special Meeting on May 4,
2021 of the total $750 million return of capital distribution.
On December 15, 2021, Barrick will also pay a previously declared dividend of $0.09 per share
for the third quarter of 2021 to shareholders of record at the close of business on November 30,
20212.
“The payment of the $750 million return of capital distribution over the course of 2021, along with
our quarterly dividend payments, will result in a total cash return to shareholders of approximately
$1.4 billion during the year, which represents the highest annual cash payout to shareholders in
Barrick’s history ,” said senior exec utive vice-president and chief financial officer Graham
Shuttleworth. “Even after these record annual distributions , our balance sheet remains
exceptionally strong as a result of our robust operational and financial performance, leaving
Barrick in a posit ion to maintain our commitment to provide our shareholders with meaningful
returns while continuing to invest in our future growth and development.”
Enquiries
President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386
Senior EVP and CFO
Graham Shuttleworth
+1 647 262 2095
+44 779 771 1338
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]
Website: www.barrick.com
BARRICK GOLD CORPORATION PRESS RELEASE
Endnote 1
The funds to be used to pay this $250 million return of capital distribution to shareholders represent a
portion of the proceeds received from the following transactions:
• Sale of a portion of our investment interest in Shandong Gold Mining Co Ltd
• Sale of our 100% interest in Lagunas Norte mine to Boroo Pte Ltd
• Sale of our 40% interest in Morila Gold Limited to Firefinch Limited
• Sale of our investment interest in Shanta Gold Ltd
Endnote 2
The declaration and payment of dividends is at the discretion of the Board of Directors, and will depend on
the company’s financial results, cash requirements, future prospects and other factors deemed relevant by
the Board.
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information
as to our strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking
statements”. All statements, other than statements of historical fact, are forward -looking statements. The
words “will”, “expect”, “commit”, “continue” , “maintain” and similar expressions identify forward- looking
statements. In particular, this press release contains forward- looking statements including, without
limitation, with respect to the expected amount and timing of Barrick’s return of capital distribution, the
expected delivery of significantly enhanced returns to shareholders in 2021 through t he return of capital
distribution in combination with Barrick’s quarterly dividend, and Barrick’s ability to maintain its commitment
to providing shareholders with meaningful returns while continuing to invest in the growth of its assets.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including
material estimates and assumptions related to the factors set forth below that, while considered reasonable
by the Company as at the date of this press release in light of management’s experience and perception of
current conditions and expected developments, are inherently subject to significant business, economic,
and competitive uncertainties and contingencies. Known and unknown factors could cause actual results
to differ materially from those projected in the forward -looking statements, and undue reliance should not
be placed on such statements and information. Such factors include, but are not limited to: fluctuations in
the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural
gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral
production performance, exploitation, and exploration successes; disruption of supply routes which may
cause delays in construction and mining activities at Barrick’s more remote properties; whether benefits
expected from recent transactions are realized; diminishing quantities or grades of reserves; increased
costs, delays, suspensions and technical challenges associated with the construction of capital projects;
operating or technical difficulties in connection with mining or development activities, including geotechnical
challenges and disruptions in the maintenance or provision of requir ed infrastructure and information
technology systems; failure to comply with environmental and health and safety laws and regulations; timing
of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of
targeted investments and projects will meet the Company’s capital allocation objectives and internal hurdle
rate; the impact of global liquidity and credit availability on the timing of cash flows and the values of assets
and liabilities based on projected fut ure cash flows; the impact of inflation; fluctuations in the currency
markets; changes in national and local government legislation, taxation, controls or regulations and/ or
changes in the administration of laws, policies and practices, expropriation or nationalization of property
and political or economic developments in Canada, the United States, and other jurisdictions in which the
Company or its affiliates do or may carry on business in the future; lack of certainty with respect to foreign
legal system s, corruption and other factors that are inconsistent with the rule of law; damage to the
Company’s reputation due to the actual or perceived occurrence of any number of events, including
BARRICK GOLD CORPORATION PRESS RELEASE
negative publicity with respect to the Company’s handling of environmental matters or dealings with
community groups, whether true or not; the possibility that future exploration results will not be consistent
with the Company’s expectations; risks that exploration data may be incomplete and considerable additional
work may be required to complete further evaluation, including but not limited to drilling, engineering and
socioeconomic studies and investment; risk of loss due to acts of war, terrorism, sabotage and civil
disturbances; risks associated with illegal and artisanal mining; risks associated with new diseases,
epidemics and pandemics, including the effects of the global Covid- 19 pandemic; litigation and legal and
administrative proceedings; contests over title to properties, particularly title to undeveloped properties, or
over access to water, power and other required infrastructure; business opportunities that may be presented
to, or pursued by, the Company; our ability to successfully integrate acquisitions or complete divestitures;
risks associated with working with partners in jointly controlled assets; employee relations including loss of
key employees; increased costs and physical risks, including extreme weather events and resource
shortages, related to climate change; and availability and increased costs ass ociated with mining inputs
and labor. In addition, there are risks and hazards associated with the business of mineral exploration,
development and mining, including environmental hazards, industrial accidents, unusual or unexpected
formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate
losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results
to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf
of, us. Readers are cautioned that forward -looking statements are not guarantees of future performance.
All of the forward -looking statements made in this press release are qualified by these cautionary
statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with
the SEC and Canadian provincial securities regulatory autho rities for a more detailed discussion of some
of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve
the expectations set forth in the forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as
a result of new information, future events or otherwise, except as required by applicable law.