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Ben van Beurden and Pekka Vauramo Nominated for Election to Barrick Board of Directors

1. Barrick Gold nominates Ben van Beurden for Board election. 2. Vauramo brings mining and logistics experience to Barrick's Board. 3. Both appointees focus on sustainable practices and operational excellence. 4. Their leadership promises long-term value for Barrick shareholders. 5. Board changes signal strategic focus on responsible mining initiatives.

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Why Bullish?

The inclusion of experienced leaders should enhance Barrick’s strategic direction, particularly in sustainability, which is increasingly pivotal for gold companies as investors prioritize ESG factors during stock selection.

How important is it?

The appointment of leaders with expertise in sustainability and mining could enhance Barrick's competitive edge in the gold market, likely driving investor confidence and stock performance over time.

Why Long Term?

The anticipated strategies from new board members may take time to materialize, similar to how prior leadership changes have influenced a company's long-term outcomes in Gold mining and sustainability.

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GOLDABX
April 04, 2025 17:38 ET  | Source: Barrick Gold Corporation TORONTO, April 04, 2025 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has nominated Ben van Beurden and Pekka Vauramo for election to its Board of Directors at the company’s Annual and Special Meeting of Shareholders on May 6, 2025. Ben van Beurden, former chief executive of Shell, brings four decades of global experience in the energy and natural resources sectors. At Shell, he led the company’s strategic transformation from an oil-focused business to a diversified energy leader, with a strong emphasis on natural gas and renewable energy investments. This transformation placed Shell among the top quartile of investors in energy transition. Mr. van Beurden is recognized for his strategic decision to simplify Shell's shareholding structure and consolidate the company’s headquarters in London, benefiting shareholders and streamlining the organization. In addition to his leadership at Shell, Mr. van Beurden currently serves as senior advisor of energy transition investments at KKR, is an independent member of the Board of Supervisors of Mercedes-Benz Group AG and was recently elected chairman of Clariant, a Swiss listed multinational specialty chemicals company. Pekka Vauramo brings a wealth of leadership experience from the mining, logistics and services sectors. Most recently he served as chief executive of Metso, where he played a key role in the successful merger with Outotec in 2020, creating a leader in sustainable technologies for the aggregates, minerals processing and metals refining industries. Under his leadership, Metso Outotec strengthened its market position by divesting non-core assets, acquiring competitors and focusing on improving culture, customer satisfaction and profitability. Mr. Vauramo also served as CEO of Finnair, where he oversaw a significant financial turnaround and expanded the airline’s reach into new Asian markets. His experience spans leadership roles at Cargotec, Sandvik and Outokumpu, where he honed his expertise in the mining sector, particularly in base metals. Additionally, Mr. Vauramo has extensive board experience, currently serving as chairman of the boards of Huhtamaki Oyj and Valmet Oyj, and as a member of the board of Nokian Renkaat Oyj, all Finnish listed companies. Barrick chairman John Thornton said Messrs. van Beurden and Vauramo would bring valuable insights to the Board’s deliberations. “Both bring exceptional leadership, a global perspective and deep industry knowledge that will be instrumental in driving Barrick’s strategy forward. Their expertise in sustainable business practices, operational excellence and global market understanding will support our commitment to delivering long-term value to shareholders, while maintaining our leadership in responsible mining.” Enquiries Investor and Media RelationsKathy du Plessis+44 20 7557 7738Email: barrick@dpapr.com Website: www.barrick.com

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