Investor Presentaiton

12 1) 2) Barrick Gold CEO Mark Bristow on unlocking the tremendous potential of Donlin Gold "Donlin has been a great journey for me personally, because the whole foundation of how I look at value is built on ore bodies, as a miner, that prescribes the revenue. You can't put gold in the ground, it's only God who does that. (...) Donlin is a massive resource and what we set out to do after the merger with Randgold is to work with NOVAGOLD to understand the ore body and decide on the maximum revenue stream...We have shared with the market how we have progressed and now rather than having a statistical gross estimate, we are starting to put the gold into proper geological unit so we can determine the size, the mining equipment, simulate the mining rate, and what we can do realistically. And we now have already started the summer drilling program and we believe that it takes us to a point where we can then plot the next steps in the Donlin progress. It's a huge resource, well north of 30 million ounces. "1, 2 [Emphasis added.] Mark Bristow President & CEO Barrick Gold Corporation Kitco News Interview with Michael McCrae on May 6, 2021 "Barrick Gold's Mark Bristow on how to out-flank bitcoin" https://www.kitco.com/news/2021-05-06/Barrick-Gold-s-Mark-Bristow-on-how-to-out-flank-bitcoin.html Represents 100% of measured and indicated mineral resources, inclusive of mineral reserves, of which NOVAGOLD's share is 50%. See "Cautionary Note Concerning Reserve and Resource Estimates" and "Mineral Reserves & Mineral Resources" table on slides 2 and 33. 19

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