Fourth straight quarter of strong operational delivery

• Gold production of 816 thousand ounces¹, up 3% from Q2 2026, and 6% year-over-year (excluding divested assets).²
• Strong operating performance across the portfolio: Cortez benefited from the continued Goldrush ramp-up, Carlin’s Gold Quarry roaster posted a record quarter, and Loulo-Gounkoto, in a strong ramp-up that remains ahead of schedule, produced 16% more than in Q2 2026.
• Productivity improvements mitigated cost pressures from fuel, consumables, and local currency appreciation. Gold cost of sales³ was $1,950 per ounce, and AISC⁴ was $1,911 per ounce.
• Revenue rose 22% year-over-year to $5.07 billion, while attributable adjusted EBITDA⁴ increased 22% to $2.47 billion.
• Net earnings increased 1% year-over-year to $1.32 billion, or $0.80 per share, while adjusted net earnings per share⁴ increased 41% to $0.82 per share.
• Full-year production guidance reiterated: 2.90–3.25 million ounces¹ of gold, and 190,000–220,000 tonnes¹ of copper.
• Returned $1.04 billion to shareholders through $761 million of share repurchases and a quarterly dividend of $0.175 per share, driving a 23% year-over-year increase in total shareholder returns. The Company also strengthened its balance sheet, ending the quarter with net cash⁵ of $0.9 billion, up from $0.3 billion in Q3 2025.

Barrick Mining Corporation (NYSE:B) (TSX:ABX) reported third quarter operating and financial results for the period ended September 30, 2026. Barrick produced 816 thousand ounces¹ of gold and 50 thousand tonnes¹ of copper in the quarter. The Company generated $5.07 billion in revenue, $2.49 billion in operating cash flow, $1.80 billion in attributable operating cash flow⁴, and $0.64 billion in attributable free cash flow⁴. Net earnings per share for the quarter were $0.80, and adjusted net earnings per share⁴ were $0.82—up 5% and 41%, respectively, from Q3 2025.

“Twelve months ago, we set out to earn back trust and restore Barrick to its history of discipline and excellence,” said Mark Hill, President and CEO. “This quarter marks a full year of consistent delivery. For the fourth consecutive quarter, we improved safety, executed against our plans, strengthened Nevada Gold Mines, advanced our growth projects, and returned significant capital to shareholders. We remain on track to achieve our full-year production guidance, and we head into the year’s final months with momentum, drive, and discipline.”

Operational Highlights

Operational performance was strong across the portfolio, with record roaster throughput at Carlin’s Gold Quarry, continued Goldrush ramp-up at Cortez, and strong performances from Loulo-Gounkoto, Bulyanhulu, and Kibali. Gold production in the North America region was 497 thousand ounces.¹ The portfolio that combines Barrick’s AME and South America & Asia Pacific regions—which we previously referred to as Rest of World, and which will henceforth be known as Barrick International—produced 319 thousand ounces¹ of gold, and 50 thousand tonnes of copper. Barrick’s total attributable gold production was 2% lower than the prior-year period, largely due to the impacts of extreme weather at Veladero, and delayed access to high-grade material at North Mara, which is expected to be accessed in Q4 2026.

Gold cost of sales³ for Q3 2026 was $1,950 per ounce, compared to $1,562 per ounce in the prior-year period, primarily reflecting lower grades processed, higher royalties associated with increased realized gold prices⁴, and elevated diesel prices. Total cash costs⁴ increased to $1,386 per ounce from $1,137 per ounce compared to Q3 2025, while all-in sustaining costs⁴ increased to $1,911 per ounce from $1,538, primarily reflecting the same cost pressures, together with higher sustaining capital expenditures.⁴

Copper COS⁶, C1 cash costs⁴, and AISC⁴ increased to $3.65 per pound, $2.76 per pound, and $4.52 per pound, respectively, from Q3 2025, primarily reflecting higher diesel prices, and local currency appreciation, particularly in labor costs.

Financial Highlights

Continued operational delivery allowed Barrick to capture more of the strong metal prices and deliver another quarter of robust financial performance. Net earnings for the quarter were $1.32 billion, or $0.80 per share, while adjusted net earnings⁴ were $1.35 billion, or $0.82 per share, compared to net earnings of $1.30 billion, or $0.76 per share, and adjusted net earnings⁴ of $0.98 billion, or $0.58 per share, in the prior-year period.

Revenue increased 22% year-over-year to $5.07 billion, EBITDA⁴ increased 13% to $3.22 billion, and attributable adjusted EBITDA⁴ increased 22% to $2.47 billion. Operating cash flow totaled $2.49 billion during the quarter. Attributable operating cash flow⁴ was $1.80 billion, and attributable free cash flow⁴ was $0.64 billion.

Key Growth Projects

Nevada Gold Mines. At Cortez, we are advancing drilling along one of the most prospective corridors in Nevada. At Carlin, we are focused on drilling out greater Leeville and optimizing processing capacity. We are also assessing opportunities to optimize infrastructure across Nevada Gold Mines. Open pit growth at Carlin has the potential to extend open pit mine life beyond 2050.⁷

Fourmile continues to show its potential to be a Tier One Gold Asset.⁸ Advanced studies are underway incorporating drilling, metallurgical test work, geotechnical investigations, and mine design. Infill and resource definition drilling remains a key priority, while exploration efforts continue to unlock additional value across the project area.

Lumwana (Zambia). The mill expansion is progressing well and is expected to double copper production. The project remains on budget and on schedule for first copper at the end of Q1 2028⁹, and we expect 2026 capital spending to come in at the lower end of guidance. All major long-lead equipment has been procured, and the mill shells and trunnions, primary crusher, and tailings thickener are already on site. The primary crusher’s third level is nearly complete, the tailings storage facility expansion contract has been awarded and work is expected to commence in Q4 2026, and the last mill wall lifts are expected to be completed in Q4 2026.

Pueblo Viejo (Dominican Republic). The expansion is advancing, with the Naranjo tailings storage facility as the main focus. Temporary water management structures are over 20% complete, and detailed design work remains on schedule to support submission of the full starter dam permit package in Q1 2027. Two of the four bridges on Haul Roads 17 and 19 are under construction, and the flotation improvement work is progressing through the prefeasibility stage. Resettlement is nearly complete, with 99% of packages accepted.

Returns to Shareholders

A quarterly dividend of $0.175 per share has been declared in respect of performance for the third quarter of 2026. The Q3 2026 dividend will be paid on December 15, 2026, to shareholders of record at the close of business on November 30, 2026.

Barrick’s dividend policy targets a total payout of 50% of attributable free cash flow⁴ on an annualized basis through a fixed quarterly dividend of $0.175 per share, and a year-end performance top-up based on attributable free cash flow⁴ generated during the year. Actual distributions may vary from the target level depending on cash flow, capital requirements, balance sheet considerations, and other factors.

In addition to the quarterly dividend, Barrick repurchased $761 million of shares during the quarter under its previously announced $3.0 billion share buyback program. The repurchases reflect the Company’s commitment to returning cash to shareholders, and its continued confidence in the value of its assets and long-term growth prospects. The repurchase authorization does not obligate the Company to acquire common shares.

2026 Guidance

Barrick continues to expect 2026 gold production to be 2.90–3.25 million ounces¹. Gold cost guidance for 2026 remains unchanged, including COS³ of $1,870–$2,070 per ounce, TCC⁴ of $1,330–$1,470 per ounce, and AISC⁴ of $1,760–$1,950 per ounce, based on a gold price assumption of $4,500 per ounce.

Copper production guidance for 2026 remains unchanged at 190,000–220,000 tonnes¹. Copper cost guidance remains unchanged at COS⁶ of $3.05–$3.35 per pound, C1 cash costs⁴ of $2.20–$2.45 per pound, and AISC⁴ of $3.45–$3.75 per pound, based on a copper price assumption of $5.50 per pound.

Guidance is based on an oil price assumption of $70 per barrel. For every $10 per barrel change in the oil price, the direct impact on costs associated with diesel consumption is approximately $12 per ounce across Barrick’s gold operations, and $0.04 per pound across its copper operations.

As previously disclosed, 2026 total attributable capital expenditure was reduced to $3.8 billion–$4.2 billion, from $4.0 billion–$4.45 billion, primarily reflecting lower anticipated spending at the Reko Diq project, which is under review.

About Barrick Mining Corporation

Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry, Barrick’s operations and projects span 17 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth. Barrick shares trade on the New York Stock Exchange under the symbol ‘B’ and on the Toronto Stock Exchange under the symbol ‘ABX’.

Financial and Operating Highlights

1. Net earnings represents net earnings attributable to the equity holders of the Company.
2. Further information on these non-GAAP financial measures, including detailed reconciliations, is included in the endnotes to this press release.
3. Amounts presented on a consolidated cash basis. Project capital expenditures are not included in our calculation of all-in sustaining costs.
4. Total consolidated capital expenditures also includes capitalized interest of $43 million for Q3 2026 (Q2 2026: $35 million; Q3 2025: $16 million).
5. These amounts are presented on the same basis as our guidance.
6. Represents net cash provided by operating activities divided by revenue.

1. On an attributable basis.
2. Further information on these non-GAAP financial measures, including detailed reconciliations, is included in the endnotes to this press release.
3. Gold COS/oz is calculated as cost of sales across our gold operations (excluding sites in closure or care and maintenance) divided by ounces sold (both on an attributable basis using Barrick’s ownership share).
4. Copper COS/lb is calculated as cost of sales across our copper operations divided by pounds sold (both on an attributable basis using Barrick’s ownership share).

Regional Summary^a and 2026 Guidance^b

1. All figures in this table are on an attributable basis.
2. See “2026 Outlook Assumptions and Economic Sensitivity Analysis” in endnote 10 of this press release.
3. Further information on these non-GAAP financial measures, including detailed reconciliations, is included in endnote 4 of this press release.
4. Gold COS/oz is calculated as cost of sales across our gold operations (excluding sites in closure or care and maintenance) divided by ounces sold (both on an attributable basis using Barrick’s ownership share).
5. Copper COS/lb is calculated as cost of sales across our copper operations divided by pounds sold (both on an attributable basis using Barrick’s ownership share).

Technical Information

The scientific and technical information contained in this press release has been reviewed and approved by Richard Peattie, MPhil, FAusIMM, Chief Technical Officer; Javier Ortuzar, FAusIMM, Senior Vice President, Exploration; Sam Baldwin, Vice President Geology, MSc, MAIG; Joel Holliday, FAusIMM, Executive Vice President, Exploration; and Russell Owen, FAusIMM, Vice President, Technical Services – each a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

All mineral reserve and mineral resource estimates are estimated in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Unless otherwise noted, such mineral reserve and mineral resource estimates are as of December 31, 2025.