Tax information for former Placer Dome shareholders

For summary information on tax considerations for Placer Dome shareholders who tendered their shares to the Barrick offer, please refer to sections 22 through 24 (pages 78 to 91 of the 279 page PDF) of the Offering Circular.

Click here to view the Offering Circular.

Shareholders are encouraged to consult their own tax advisors.

Barrick’s offer to Placer Dome allowed shareholders to elect to receive US$22.50 in cash ("the Cash Option") or 0.8269 of a Barrick common share and US$0.05 in cash ("the Share Option") for each share of Placer Dome tendered, subject to pro-ration.

Shareholders who tendered their shares to the "the Cash Option" received US$22.50 in cash for each Placer Dome share tendered.

The combination of Barrick shares and cash received by shareholders who tendered to the "the Share Option" were subject to pro-ration which was determined according to the terms set out in the Offer Circular. There were three take-up dates where Barrick shares were issued for Placer Dome shares. Listed by date below is the consideration received for each Placer Dome share tendered to the share option:

January 19th, 2006:         0.7430 of a Barrick share plus US$2.33 in cash

February 6th, 2006:         0.7366 of a Barrick share plus US$2.51 in cash

March 15th, 2006:            0.8269 of a Barrick share plus US$0.05 in cash

As a reference to those calculating the cost basis of their shares, the closing prices of Barrick shares on the day before each take-up are as follows:

January 18th, 2006:    US$29.14     C$34.10

February 3rd, 2006:    US$29.60     C$33.88

March 14th, 2006:       US$26.49     C$30.60