Moody’s Upgrades Barrick to A3 with Stable Outlook

PRESS RELEASE

NYSE : GOLD TSX : ABX

Moody’s Upgrades Barrick to A3 with Stable Outlook

Toronto, December 14, 2022 — Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that

Moody’s Investors Service (“Moody’s”) has upgraded the senior unsecured ratings of Barrick and all rated

subsidiaries to A3 from Baa1, with a stable outlook.

In a news release announcing the upgrade, Moody’s noted that Barrick’s liquidity is excellent, which

provides significant flexibility to maneuver through gold price volatility.

Since August 2015, when Barrick ’s long -term corporate debt rating was last downgraded by Moody’s ,

Barrick’s credit rating has been upgraded to Baa2 from Baa3 in March 2018 and to Baa1 from Baa2 in

October 2020.

Senior executive vice -president and chief financial officer Graham Shuttleworth said: “This upgrade is

reflective of the continued progress that Barrick has made in strengthening our balance sheet and managing

our capital structure. These improvements to our credit standing have been made alongside record returns

to shareholders in 2021 and 2022, highlighting the strong overall performance of our business.”

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]