Mr. Mark Bristow reports

FIVE YEARS ON, BARRICK'S TWIGA PARTNERSHIP DELIVERS GROWTH AND SHARED VALUE FOR TANZANIA

Five years after formation, the Twiga partnership between Barrick Mining Corp. and the government of Tanzania continues to redefine the role of mining in national development, delivering shared value, operational excellence and long-term investment in the country's future. Speaking at a media briefing here today, Barrick president and chief executive officer Mark Bristow said the partnership had created a sustainable model for mineral development in Tanzania. All amounts expressed are in U.S. dollars.

"When we established Twiga, it was about more than just resolving legacy issues. It was about building a new future by unlocking Tanzania's gold endowment in a way that fairly shares the benefits and builds lasting value for all stakeholders. Five years on, we've not only re-established Barrick as the sector's leading economic contributor but have also earned national recognition across a range of areas from safety and local content to education and infrastructure," Mr. Bristow said.

Since Barrick took operational control in 2019, the company has injected $4.79-billion into the Tanzanian economy, including $558-million in the first half of 2025 alone. More than 90 per cent of procurement continues to be with Tanzanian suppliers, the majority of which is indigenous companies, and 96 per cent of its work force is Tanzanian with 49 per cent coming from communities around the mine.

A standout example of the Twiga partnership in action is the future forward education program, a joint $30-million investment by Barrick and the government, with the president's office, aimed at expanding school infrastructure across the country. Now in its second phase, the program is set to provide classroom space for an additional 45,000 pupils.

Barrick's Tanzanian mines continue to deliver in line with guidance. At Bulyanhulu, development of the Upper West decline is well advanced, supported by the arrival of a new fleet and improved access through expanded infrastructure. The mine has benefited from focused investment in ventilation and dewatering systems. These improvements are unlocking bottlenecks, improving flexibility and positioning Bulyanhulu to produce gold for decades to come.

At North Mara, a newly commissioned battery energy storage system is addressing power reliability, while underground and open-pit mining is progressing according to plan. Community resettlement activities are nearing completion, and the mine continues to build trust and its social licence.

"Our partnership with host communities is fundamental to our presence in Tanzania. We've had to work hard to rebuild relationships, particularly around North Mara, and we are seeing the benefits of consistent engagement and delivery on our commitments," he said.

At the same time, Barrick is actively investing in exploration to secure the future of its Tanzanian operations. Current drilling programs are targeting resource extensions at Gokona and Gena within the North Mara complex and along Reef 1 and Reef 2 style structures in the Bulyanhulu inlier. Airborne geophysics and drilling are also planned for the newly consolidated Siga and Nzega greenfield prospects. These endeavours are aimed at replacing the ounces being mined today and building a healthy pipeline for tomorrow.

Even at Buzwagi, now in closure, the focus remains on long-term value creation. A special economic zone is being developed there with several investors already engaged. The Barrick Academy is on track to train more than 2,800 supervisors and foremen from across the region by year-end, furthering Barrick's contribution to the development of Africa's mining talent.

"Our commitment to Tanzania didn't end when the ore ran out at Buzwagi. We're leaving behind infrastructure and institutions that will benefit the country well into the future," said Mr. Bristow.

Reflecting on Twiga's five-year journey, Bristow said the partnership had not only stabilized operations but created a platform for long-term value delivery through shared ownership, local empowerment and a responsible approach to development.

"Twiga is more than a company. It is a model for what mining can be when it's done right, in partnership and with purpose," he said.

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