We build our own businesses and protect our investments…John Steele

Investor Days November 2016

Track Record…

2010Gounkoto

2013Kibali

2000Morila

Expansion2004

Dump rehandle2013

TSF reclamation

2015

2005Loulo

Expansion2008

Expansion2011

2010Tongon

Expansion2016

450ktpm 400ktpm 400ktpm 600ktpm

Processing Capacities

Construction effort...

Gara paste plant

Kibali shaft collarKibali metallurgical plant

Kibali CIL plant

Kibali mills

Operating team in designSingle or multiple orebodiesDesign for sulphides long-term and allow for initial oxides / transitionHAZOPEvolution of processing technology

Simple gravity / CILMore complex sulphide ores needing flotation and UFGMoving to more complex ores at Massawa

Simple processing at SofiaFlotation and gravity for Massawa CZRefractory process for Massawa NZ

Build to operate…

Common thread of design Common sparesSimple processTechnical back-upPreventative maintenanceTechnology for AfricaRelationships

Loulo CIL plant

Owner’s team to manage constructionEngineers (contract) to handle design and equipment specificationProcurement by mine supply chainMaterials of constructionManaging in remote mine locations

PartnershipsLocal teamsLocal businesses

Delivering projects cost effectively…

Container bridge at Morila in operation for the past 18 years

Early training of operators LAB selectionOn-site trainingIn-house training at other Randgold facilitiesGrow and develop our local operating teams

Investing in our people…

Work management system and data collectionCondition based maintenance strategies Key performance indicators and maintenance metrics Analysis of parameter trends and historical failuresAnalysis of spare parts and warehousing Appropriate balance of in-house services and external service providers

Preventative maintenance…

3420 18

16

10 23

19

2217

69

52 58

0

20

40

60

80

Q1 Q2 Q3Pri Mill days Mill 1 daysMill 2 days Total days

Loulo mills: continuous run days

Milling92% runtime targetSustained mill continuous runsThroughput improvement trends from better run time

Kibali…improved run time

Planned maintenance

20%Power house

4%Electrical

5%

Mechanical43%

Instrumentation2%

Process10%

Mining 0%

Unplanned relining1%

Planned relining15%

Q1 2016

Planned maintenance

36%

Power house6%

Electrical 1%Mechanical 18%

Instrumentation1%

Process17%

Mining 2%

Unplanned relining6%

Planned relining13%

Q2 2016

Planned maintenance

52%Power house15%

Electrical1%

Mechanical18%

Instrumentation4%

Process9% Mining 1%

Q3 2016

Kibali: daily tonnes treated…Jan to Nov 2016

Kibali Downtime Analysis

Geo-metallurgical investigationUnderstanding our orebodies betterTailor the process to the orebody

Blending regimes on multiple ore feedsReagent optimisation (cyanide oxygen consumption)Mill throughput (ore hardness)CIL suspension (viscosity control)

Kibali and Loulo…process improvements

Kibali Weekly Gold Recovery(R/(R+r))

Gold recovery %

Week1Week5

Week9Week13

Week17Week21

Week25Week29

Week33Week37

Week41Week45

50.00%

55.00%

60.00%

65.00%

70.00%

75.00%

80.00%

85.00%

90.00%

Gold

reco

very

%

80%82%84%86%88%90%92%94%

Aug-

15

Sep-

15

Oct

-15

Nov

-15

Dec

-15

Jan-

16

Feb-

16

Mar

-16

Apr-1

6

May

-16

Jun-

16

Jul-1

6

Aug-

16

Sep-

16

Oct

-16

Nov

-16

Dec

-16

Loulo Monthly Predictive Recoveries vs Plant Actual Au recovery

Tanks 1 and 2 offline on inefficient

oxygenation

CIL circuit disturbance and spillage pumped back due to frequent

power failure

Tank 2 offline to fix Aachen leakage and repair tank bottom

ActualPredictedMine plan f/cast

High Shear oxygen in leachAtomixAachen

Oxygen in CILEkatoLances

Tongon and Loulo…improvements in O2 management

Separate concentrate treatment at Tongon enhances overall recovery

Better CN / O2 ratio at Louloenhances overall recovery

75%77%79%81%83%85%87%

01-Jul-16 01-Aug-16 01-Sep-16 01-Oct-16

Tongon: Recovery vs Concentrate Leaching

888990919293

0

5

10

15

20

Jan Feb Mar Apr May Jun Jul Aug SepRatio [NaCN]/[DO] Target [NaCN]/[DO]Actual Plant recovery, (%)

Loulo: Plant recovery and NaCN / DO ratio

Concentrate + flotation tail in

CIL 1

Concentrate split leaching

Pressure Swing Adsorption Oxygen unit Number 7

installed on 4 Aug

Total of 32% lower recoverable block of Yalea ore fed to plant in which 283LBK111 @ 67% and 358LBK02 @ 71% recovery

Recovery

Ratio Recovery %

TSF retreatmentWith regrind

Maintain milling operation going forwardReduce ball loadReduce power draw

November 2016 to December 2016 Total mining rate: 1.4Mt per month (47 200tpd) – 5 monitor guns)

Morila…slimes re-treatment

Production to 320RLTonnes = 1.75Mt @ 0.52g/t

HFO fuel price differential at LouloMore medium speeds at LouloMV upgrade at Loulo and TongonImproved Grid supply at TongonMicro grid stabilisation at KibaliIncreasing Hydro Capacity at Kibali

Randgold power initiatives…

HFO / diesel ratioMore medium speed unitsMV upgrade

HFO / Diesel thermal power at Loulo…

3536373839404142434445

Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16

Q1 2016 Q2 2016 Q3 2016

340

360

380

400

420

440

Processing Power Efficiency (kWh/t)

Tonnes treated Efficiency (KWh/t)Power kWh/t Throughput t000

55

60

65

70

75

Q1 Q2 Q3

2016- Blend HFOHFO / Diesel Blend

%

Recent instabilityNew 225 kV line (Laboa – Boundiali - Ferke) scheduled for Q1 2018 will improve stability of supply to Tongon

More back-up thermal power being installedMV upgrade plannedGrid supply voltage pricing change – MV to HV

Grid power at Tongon…

Substation at Tongon

Nzoro river stations Nzoro 1 Nzoro 2

Kibali river stationsAmbarauAzambi

Kibali hydropower…

0,00

0,05

0,10

0,15

0,20

0,25

0,30

0

10

20

30

40

Hydro Diesel Cost

MW $/kWhKibali power generation

Ambarau Azambi

Hydro base loadThermal balancing Spinning reserve / resistance loadPower Management

Kibali micro-grid…

Cost US$ 00012c/kWh$4.59/t

8%more

tonnes

5%more power

SGE decreasedQ2 to Q3

31.4 to 29.21.1MW

less0.2MWmore

0.4MWmore

0.257vs

0.260l/kWh

0.97vs

1.05$/litre

$746kvs

$932k

$801kvs

$884k

82488284

12c/kWh$4.61/t

Kibali power variance analysis Q3 2016

Looking ahead … … …

We have a background in simple process (gravity and CIL) operations

We’ve developed processing using flotation and ultra-fine grind for more complex materials

We’re “owner builders”

We’ve built 5 mines with +$5bn capital investment.

We staff up with specific skills (as needed) and shrink with project completion

Gold pour and gold dorè bars at Tongon Gold Mine

Disclaimer…

Randgold reports its mineral resources and mineral reserves in accordance with the JORC 2012 code. As suchnumbers are reported to the second significant digit. They are equivalent to National Instrument 43-101. Mineralresources are reported at a cut-off grade based on a gold price of US$1 500/oz.The reporting of mineral reserves is also in accordance with Industry Guide 7. Pit optimisations are carried out at agold price of US$1 000/oz, except for Morila which is reported at US$1 300/oz. Mineral reserves are reported at acut-off grade based on US$1 000/oz gold price within the pit designs. Underground reserves are also based on agold price of US$1 000/oz. Dilution and ore loss are incorporated into the calculation of reserves.

Cautionary note to US investors: The United States Securities and Exchange Commission (the SEC) permitsmining companies, in their filings with the SEC, to disclose only proven and probable ore reserves. Randgold usescertain terms in this annual report such as ‘resources’, that the SEC does not recognise and strictly prohibits thecompany from including in its filings with the SEC. Investors are cautioned not to assume that all or any parts ofthe company’s resources will ever be converted into reserves which qualify as ‘proven and probable reserves’ forthe purposes of the SEC’s Industry Guide number 7.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the historical informationcontained herein, the matters discussed in this presentation are forward-looking statements within the meaning ofSection 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934, andapplicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statementswith respect to the future price of gold, the estimation of mineral reserves and resources, the realisation of mineralreserve estimates, the timing and amount of estimated future production, costs of production, reservedetermination and reserve conversion rates. Generally, these forward-looking statements can be identified by theuse of forward-looking terminology such as ‘will’, ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’,‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations ofsuch words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will betaken’, ‘occur’ or ‘be achieved’. Assumptions upon which such forward-looking statements are based are in turnbased on factors and events that are not within the control of Randgold Resources Limited (‘Randgold’) and thereis no assurance they will prove to be correct. Forward-looking statements are subject to known and unknownrisks, uncertainties and other factors that may cause the actual results, level of activity, performance orachievements of Randgold to be materially different from those expressed or implied by such forward-lookingstatements, including but not limited to: risks related to mining operations, including political risks and instabilityand risks related to international operations, actual results of current exploration activities, conclusions ofeconomic evaluations, changes in project parameters as plans continue to be refined, as well as those factorsdiscussed in Randgold’s filings with the US Securities and Exchange Commission (the ‘SEC’). Although Randgoldhas attempted to identify important factors that could cause actual results to differ materially from those containedin forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated orintended. There can be no assurance that such statements will prove to be accurate, as actual results and futureevents could differ materially from those anticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking statements. Randgold does not undertake to update any forward-lookingstatements herein, except in accordance with applicable securities laws.