(AGENPARL) – Thu 05 February 2026 PRESS RELEASE
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Record shareholder returns and another record quarterly financial performance mark successful delivery of 2025 operating plan
* Q4 gold production 5% higher than Q3 at 871,000 ounces, 2025 gold and copper production in line with guidance
* Record quarterly cash flow with operating cash flow of $2.73 billion and free cash flow of $1.62 billion—up 13% and 9%, respectively, over Q3
* Highest ever quarterly net earnings per share of $1.43 and adjusted net earnings per share of $1.04—up 88% and 79%, respectively, on Q3
* New dividend policy targets total payout of 50% of attributable free cash flow, including 40% increase in quarterly base dividend to $0.175 per share, plus performance year end top-up
* $0.42 per share quarterly dividend declared—a 140% increase over the third quarter
* Repurchased $1.50 billion of shares in 2025, representing about 3.0% of Barrick’s issued and outstanding shares, including $500 million in Q4
* Doubled gold resource at Fourmile project in Nevada with further increases expected in 2026
* 2026 production guidance: 2.90–3.25 million ounces of gold and 190,000–220,000 tonnes of copper
* Following rigorous analysis, the Board has decided to move forward with preparations for an initial public offering (“IPO”) of Barrick’s North American gold assets in order to maximize shareholder value
“We reported record quarterly cash flow, delivered on our gold and copper production guidance, and successfully executed our 2025 operating plan. These achievements contributed to record adjusted net earnings per share in 2025 and the highest shareholder returns in this company’s history. On the back of this financial strength, the Board approved a further 40% increase to our quarterly base dividend and a dividend framework to allow shareholders to further participate in our performance,” said Mark Hill, President and Chief Executive Officer. “The outstanding finish to 2025 showcases the strength of Barrick’s operations and the commitment of its people. The agreement in Mali to secure the release of our colleagues was a major success and I commend all who were involved for this tremendous result.”
Mark Hill continued: “As we progress towards an IPO of our North America business to maximize value, we remain steadfast in our focus on operational performance and improving safety. By maintaining a collaborative culture and operational rigor, we are well-positioned to carry our current momentum forward and continue unlocking value from our premier asset portfolio in 2026.”
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The image shows the Barrick logo, which features the word BARRICK prominently displayed in large, teal-blue capital letters. Beneath the text is a slender gold or horizontal line that extends from under the text toward the right edge of the logo. This is the corporate logo for Barrick Mining Corporation.
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Barrick Mining Corporation . 161 Bay Street, Suite 3700 . Toronto, Ontario M5J 2S1 . Canada