Randgold Resources…a sustainably profitable business

BMO, Global Metals and Mining Conference 2017

Safety, Health and Environment…

All mines now environmentally accredited with IS0 14001 and all, apart from Kibali, with OHSAS 18001 certification – Kibali health and safety certification imminent

Lost time injury frequency rate driven down by 22% to 0.46 and total injury frequency rate by 17% to 5.73 year on year

Malaria programme effective as malaria incidence decreases 27% year on year

Voluntary HIV AIDS testing increased by 60% year on year and positivity rate now at 1.63% from 6% in 2011

Plant water efficiency increased significantly year on year

Massawa environmental and social impact started

Malaria Incidence Rate

0

10

20

30

40

50

60

70

2012 2013 2014 2015 2016

% Per million man hours worked

0

0,5

1

1,5

2

2,5

Q12016

Q22016

Q32016

Q42016

20152016

Fresh water

Total water

Water Efficiencies m3 / tonne milled

Injury Frequency Rate

0

2

4

6

8

10

12

00,20,40,60,8

11,21,41,6

2012 2013 2014 2015 2016

LTIFR TIFR

Randgold Resources…Q4 2016 highlights

Record gold production increases for sixth consecutive year, up 26% quarter on quarter and 3% year on yearNet cash target of +$500 million reached, with no debtProfit up 22% quarter on quarter and 38% year on yearTotal cash cost per ounce down 17% quarter on quarter and 6% year on yearRecord low lost time injury frequency rate of 0.46 down 22% year on yearAll mines ISO 14001 certified and apart from Kibali, OHSAS 18001 certified; KibaliISO 45001 certification imminentLoulo-Gounkoto complex beats annual guidance by 37 000oz at lowest recorded total cash cost per ounceTongon achieves revised guidance of 260 000oz with total cash cost per ounce down 15% quarter on quarter and 8% year on yearContinued operational improvement at Kibali with production up 21% quarter on quarter after the slow first half of the yearMorila seeks government approval for post mining agripole projectGounkoto super pit gets board approvalUpdated Massawa-Sofia technical and financial study demonstrates potential to meet Randgold’s investment criteriaExploration drives reserve additions at Loulo-Gounkoto and Sofia, and expands portfolio in Côte d’IvoireProposed dividend up 52%

Randgold Resources…summarised financials

Refer to Q4 2016 quarterly report for footnotes

31 Dec2016

30 Sep2016

31 Dec2016

31 Dec2015

31 Dec2014

Average gold price received ($/oz) 1 206 1 333 1 244 1 152 1 264

Gold sales1 453 051 392 776 1 546 030 1 394 889 1 434 873

Total cash costs1 206 295 195 357 794 432 822 673 791 756Profit from mining activity1 246 756 197 419 751 598 572 216 643 117Exploration and corporate expenditure 7 997 11 212 41 202 45 067 36 765Profit for the period 94 324 77 253 294 221 212 775 271 160Profit attributable to equity shareholders 78 520 65 566 247 474 188 677 234 974Net cash generated from operatingactivities

204 665 119 313 521 227 396 982 317 618

Cash and cash equivalents2 516 301 361 103 516 301 213 372 82 752Gold on hand at period end3 27 772 27 808 27 772 13 715 14 956

Group production (oz) 378 388 301 163 1 252 957 1 211 288 1 147 414

Group sales1 (oz) 375 718 294 745 1 242 366 1 210 844 1 134 941

Group total cash cost per ounce1 ($) 549 663 639 679 698Group cash operating cost per ounce1 ($) 487 597 576 624 637Basic earnings per share ($) 0.84 0.70 2.64 2.03 2.54

$000

12 monthsQuarter

Loulo-Gounkoto Complex…Q4 2016 update

Gold production exceeds annual guidance with a 30% increase quarter on quarter to 206 124oz (Q3 2016: 158 248oz) and a 12% increase year on year to 707 116oz (2015: 630 167oz) as a result of improved recovery, grade and an increase in tonnes treated

6% increase in tonnes processed quarter on quarter due to improved plant run time and mill load optimisation for a better milling rate

Improved operating unit costs resulted in a 20% decrease in total cash cost/oz quarter on quarter to $479/oz (Q3 2016: $599/oz) and a 17% decrease year on year

Completion of CIL circuit discharge launder modifications contributes towards improved throughput

Additional PSA oxygen plant and new reactors installed during prior quarter enabled enhanced oxygen production and dispersion in Q4

Advanced planning for orebody recovery and agent response allowed for adjustment in plant parameters based on expected ore delivery

Loulo-Gounkoto Complex…operating results

Refer to Q4 2016 quarterly report for footnotes

31 Dec2016

30 Sep2016

31 Dec2016

31 Dec2015

31 Dec2014

Mining

Tonnes mined3 (000) 9 023 6 520 37 776 31 360 27 025

Ore tonnes mined (000) 1 517 1 057 4 804 4 513 4 539

Milling

Tonnes processed (000) 1 263 1 189 4 875 4 543 4 396

Head grade milled (g/t) 5.6 4.6 5.0 4.8 5.0

Recovery (%) 91.2 90.9 91.0 90.1 90.2

Ounces produced 206 124 158 248 707 116 630 167 639 219

Ounces sold 212 957 155 971 709 737 630 627 631 124

Average price received ($/oz) 1 206 1 332 1 242 1 148 1 267

Cash operating costs1 ($/oz) 407 520 489 606 597

Total cash costs1 ($/oz) 479 599 563 675 672

Gold on hand at period end2 ($000) 6 061 15 952 6 061 8 133 9 708

Profit from mining activity1 ($000) 154 759 114 226 481 651 298 396 375 293

Gold sales1 ($000) 256 855 207 722 881 529 724 167 799 718

12 monthsQuarter

Loulo underground…Q4 2016 update

Underground production in line with plan

Improved heading availability and increased paste delivery contributed to reduced development metres and unit mining costs

Improved paste delivery followed upgrade of both delivery lines at Yaleaand slurry delivery pumps at intermediate plant

Optimisation of paste filtration system ongoing to improve flexibility

Refrigeration plants completed at Yalea and Gara

0

200

400

Yalea Gara

t000

0 0,5 1 1,5 2 2,5

Yalea

Gara

Ore tonnes mined Development metres

Metres 000

Q1 2016 Q2 2016 Q3 2016 Q4 2016

Gounkoto super pit…feasibility study completed

Approved by both Gounkoto and Randgold boards

Super pit option shown to be more economically viable than smaller pit and underground option

Other benefits includingLower operational risk in managing grade variabilityOre flexibility for Loulo-Gounkoto complexAdditional smaller underground opportunity still exists

$1000/ozSuper Pit design

1 km

Gold g/t

≥8g/t4–8g/t3–4g/t

1.3–3g/t<1.3g/t

Block model of Gounkoto orebody with super pit design

Total ore mined from Gounkoto super pit and Faraba pit: 17.9Mt at average 4.2g/t for 2.4 Moz gold

Strip ratio: 13.7 : 1 for 263Mt including 60Mt capitalised waste stripping

Crush and haul costs: $5.2/ ore tonne

Mining cost: $2.4/t over LOM

Plant costs: $17.9/ore tonne

G&A: $8.0/ore tonne

Capital cost: $69.8 million including surface water diversion trench, pumping, workshop and rebuilds of equipment with a further $139 million to be capitalised iro waste stripping

Diesel price of 65c/l, equivalent to approximately $60/bbl oil price

Gounkoto super pit feasibility study…key parameters

Financial model using $1000/oz gold price feeding current mining schedule with 6% royalty on revenue, 3 year tax holiday followed

by 30% corporate tax produced total net cash flow after tax of $741 million

Loulo district…Q4 highlights

Gara

Yalea

Loulo 3

Baboto

Gounkoto

Priority TargetsRank 1Rank 2Rank 3Target Removed

Far WestStructure

DKStructure

WarabaStructure

* Sectional estimate from legacy drilling

Loulo 3 reviewIdentifies 0.5Moz @ 7g/tpotential* in dilational jog

Yalea System ReviewUpdated model (transfer zone), generates six near mine targets

Gounkoto System ReviewGenerates MZ4 S, MZ2 FW, MZ1 FW targets for drill motivation

Faraba StructureTarget regional gaps, motivate drilling at Faraba North in Q1

Gara & Gara NorthAdditional resources converted673Koz @ 4.61g/tNear-mine targets for drilling+900m of extra strike in north

Gara South OPPositive economics at $1100/ozgold, resources: 112koz @ 3.2g/t OP; 96koz @ 4.1g/t UG

Goldfinger WestMapping at Yalea upgrades target at structural intersections with NS poly-phase alteration corridor

Domain Boundary MappingIntegrated with legacy drilling and geophysics, trench in Q1

N

2km

Massawa-Sofia project…economic assessment

An economic assessment on the financial viability of the Massawa-Sofia project was carried out, based on the key parameters summarised below:

Total ore mined from Massawa and Sofia Main and North pits of 21.6Mt of ore at an average grade of 3.97g/t containing 2.75Moz of gold

Strip ratio of 7:1 to give total tonnes mined of 172Mt

Mining costs average of $3.28/t mined over the LoMHaulage costs average of $3.2/ore tonne

Plant costs average of $23.5/ore tonne, but include a range of costs dependant on ore feed and process route

G&A costs of $8.0/ore tonne milled over LoM, including outside engineering services costsCapital construction cost of $438 million

Ongoing capital of $38 million over LoM

A closure cost of $20 million

Financial model run using a $1 000/oz gold price feeding the current mining schedule, together with a 3% royalty on revenue, five year tax

holiday, followed by corporate tax at a 25% rate, which produced a total net cash flow after tax of $458 million, and IRR of 18%.

Massawa…infill drilling moves Sofia Main to reserve category

Sofia Main – December 2016 model

NE SWs38s48s64 s42

OPENOPEN

OPEN

Limit of FWOZ

Step out drill –Potential for 200 000oz at 3.8g/t(sectional estimate)

80Rl

Open at depth:Conceptual targeting

s50s54 s45

Drilling Gaps

170mVD

3-5g/t

OPEN

1.5km

Sofia Main:+426koz Probable Reserves

Sofia upside…

Change in strike (NNE-NS) of known gold bearing mineralisation (Sofia-Sabadolastructure)

Prospective geometry: truncation of stratigraphy to the east, untested sub parallel structures/ splays

Historical exploration in the Hanging wall –To be further tested in Q1

High and extensive Au soil anomalism (32 km 2) associated with interpreted ENE structures

Enrichment of Ti-Mo-K: alteration system implicated with Massawa

Modelled Splay of the MTZ

TinkotoGranite

BadonBatholith

Prospective and under-explored ENE splay off the Sofia-Sabadola structure/ Intersection model.

Sofia MainGold Deposit

Open along strike – underexplored / untested

Open potential at depth along a South Westerly strike from Sofia

Limit of Permit

N

2km

Sofia North

Sofia South

Makana 1

KB1, KB2, KB3

Morila…Q4 2016 update

Gold production was 13 315oz, a 32% increase on previous quarter (Q3: 10 084oz)

Transitioned to full TSF retreatment operation at the beginning of Q4 with corresponding 37% increase in throughput and reduction in recovery in Q4

Production for the year was 54 022oz (2015: 122 374oz) after continued feeding of mineralised waste until depletion at the end of Q3 followed by the transition to TSF material in Q4

Total cash cost of $1 276/oz, 11% lower than previous quarter due to increased production and lower unit costs but higher for the year due to the switch to TSF material and processing higher volumes

Profit from mining decreased to $6.9 million for the year on the back of lower grades, lower recoveries and lower production

Following agreement with Birimian Gold, exploration team has completed phase 1 evaluation drilling programme on Ntiola and Viper targets

In line with closure strategy, the mine continues to work on establishing a viable agricentre (agripole)

Tongon…Q4 2016 update

19% increase in gold production quarter on quarter to 84 856oz as a result of an 11% increase in throughput

Following completion of the crusher circuit upgrade earlier in the year, production increased 7% to 260 556oz for the year with improved grade, throughput and recovery

Total cash cost decreased to $623/oz in Q4 (Q3: 732/oz) on the back of the increase in gold production

Profit from mining increased by 15% to $47.9 million for the quarter and by 62% to $121.8 million for the year

Capital expenditure for the year amounted to $10.5 million, including $4.9 million during the quarter, on the new quaternary crushing circuit, grid power plant upgrades and the TSF phase ll extension

Tongon…operating results

Refer to Q4 2016 quarterly report for footnotes

31 Dec2016

30 Sep2016

31 Dec2016

31 Dec2015

31 Dec2014

Mining

Tonnes mined (000) 6 141 6 288 27 547 28 826 26 126

Ore tonnes mined (000) 1 162 1 162 4 195 3 563 3 566

Milling

Tonnes processed (000) 1 121 1 014 3 853 4 018 3 984

Head grade milled (g/t) 2.8 2.6 2.5 2.3 2.3

Recovery (%) 84.7 84.2 83.7 82.6 78.0

Ounces produced 84 856 71 187 260 556 242 948 227 103

Ounces sold 82 811 69 236 255 942 241 478 227 103

Average price received ($/oz) 1 202 1 333 1 247 1 148 1 264

Cash operating costs1 ($/oz) 587 692 734 801 834

Total cash costs1 ($/oz) 623 732 771 836 872

Gold on hand at period end2 ($000) 7 070 5 361 7 070 1 576 -

Profit from mining activity1 ($000) 47 909 41 565 121 847 75 444 88 963

Gold sales1 ($000) 99 533 92 275 319 249 277 253 287 026

12 monthsQuarter

Tongon…near-mine opportunities

Tongon west - Sekala gap1.4km long on ENE transfer zoneComplete detailed regolith mappingTest anomalism with pitting / AC drilling

Tongon NZ

Tongon NZ-Seydou south gap

1.4km longTrenches to test continuity at surface prior to drilling

Seydou south4km to plant Potential for69 220oz @ 2.2g/tEvaluation ongoing

Jubula11km to Tongon minePotential for 38 000oz @ 1.1g/tInfill trenching in progress prior to further infill RC drilling

Tongon west< 2km from plant Potential for 32 000oz @1.2g/t Geological model review Diamond drilling to test down dip potential

Sekala7km to plant3 DDH completed in line with modelUpdated resource of 44 000oz @ 1.9g/t

Tongon SZ

Potential skarn target at the western side of the pluton over ENE structure

Coucal south800m long soil anomalism

N

Fonondara Main

Fonondara South Ext+14km strong soil anomalies on favorable structural setting

Surface work progressing

Tiasso Corridor+25km corridor of the Syama structure with strong untested soil anomalies. 3 priority targets for follow up

Infill soil sampling generated 4 strong targets over 27km

Corridor +35km long. Infill soil generating new targets on Fonondara and Syama structures

Mariama targetTrench ongoing to test HG (+3g/t) lithos

Nata targetFirst pits returned up to 2.6g/t and alteration Trenching ongoing

Lafi target75m wide alteration from first pits Trenching ongoing

Baya target200m wide anomalism (+3.7g/t) from first pit results. Follow up trench ongoing

Boundiali…significant opportunities and exciting pipeline of targets

Kassere

Sani

N

Mankono…focus on extending Gbongogoand finding more opportunities in the permit

Major regional structure

Gbongogo targetTrenching across ductile mineralised structureTrenching the southern extension of alteration systemPitting across NW structureTrenching northern part of target

Dokeka target (new)>100ppb soil anomaly of 1km strike up to 598ppbPitting started across the anomaly

Kowa targetStrong soil anomaly over 2.8km in strike and up to 6g/t in soilPit lines defined two anomalous trends (open)+8km infill soil to extend the target and cover gab with Gbongogo

Bafretou West (new)Belt margin, up to 8g/t in soil+4km strike (open)Field validation ongoing

N

Kibali…Q4 2016 update

21% increase in gold production quarter on quarter to 182 406oz at a total cash cost of $659/oz (Q3 2016: $747/oz) on back of improved plant operating performance and higher grades

After issues related to plant stability in H1 dealing with multiple ore sources, the mine produced 585 946oz for the year

Plant improvement continued in Q4 with record throughput of 2 026kt for the quarter while recovery increased by 3%

Introduction of satellite pits, Kombokolo and Rhino, in Q4 contributed to the improved performance providing higher grades and more flexibility

Profit from mining increased by 5% to $91.6 million for the quarter and $291.1 million for the year, down from 2015 reflecting the lower production

Kibali…operating results

Refer to Q4 2016 quarterly report for footnotes

31 Dec2016

30 Sep2016

31 Dec2016

31 Dec2015

31 Dec2014

MiningTonnes mined (000) 9 785 7 453 31 879 31 170 30 470Ore tonnes mined (000) 1 656 1 458 6 218 6 862 5 632MillingTonnes processed (000) 2 026 1 950 7 296 6 833 5 568Head grade milled (g/t) 3.3 2.9 3.1 3.5 3.7Recovery (%) 84.1 81.8 80.0 83.8 79.3Ounces produced 182 406 150 431 585 946 642 720 526 627Ounces sold 166 291 146 639 568 375 643 976 516 902Average price received ($/oz) 1 210 1 334 1 248 1 160 1 258Cash operating costs1 ($/oz) 598 687 678 557 528Total cash costs1 ($/oz) 659 747 736 604 573Profit from mining activity1 ($000) 91 617 87 269 291 101 358 184 354 220Attributable (45%)Gold sales1 ($000) 90 527 88 042 319 217 336 272 292 627Ounces produced 82 083 67 694 263 676 289 224 236 982Ounces sold 74 831 65 988 255 769 289 789 232 606Profit from mining activity1 ($000) 41 228 39 271 130 995 161 183 159 399Gold on hand at period end2 ($000) 13 840 5 854 13 840 4 006 5 248

12 monthsQuarter

Kibali…improving throughput and recovery through 2016

2

3

4

5

6

7

8

60%

65%

70%

75%

80%

85%

90%

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Throughput (X 100 000) Recovery (%)

Recovery % Throughput t 00 000

Kibali…capital projects

Metallurgical facility – project to expand mine’s ultrafine grinding capacity to improve full sulphide feed recoveries continued with commissioning planned in Q1 2017

Hydropower projectsAmbarau –

First power rescheduled to Q1 2017 during low water flow period as part of risk mitigation surrounding closing of stop logs and flood related events

Azambi –construction underway

Construction commenced with focus on site establishment and soft excavation allowing work on temporary berm to begin

9000 Lode5000 Lode

3000 Lode

Potential for 3000 upper lode

Potential for 9000 upper lode

Kibali…new KCD model highlights potential for significant resource upside

Relog of Kibali orebody carried out to improve understanding of controls on mineralisation

Geological understanding progresses significantly and model is de-risked

5000 and 9000 lodes show direct relationship with fold hinges and with Ironstone units

New model to be tested both up-plunge and down-plunge for additional resources

Improving models for exploration across Moto belt

KZ structure…pipeline of projects reinforces prospectivity

Kalimva-Ikamva

Drilling at Ikamva this quarter confirms model with mineralisation in hinge of a recumbent fold. Model to be tested downplunge. Kalimva to be drill tested in Q1

Agbarabo East

Drilling identifies new, high grade mineralised shoots. Key results include: ARC060: 16m at 5.35g/t Including 12m at 6.73g/t; ARC051: 8m at 3.65g/tFurther modelling and follow up in Q1

Sessenge SW

Results of a fence of nine holes testing the near surface high grade oxide mineralisation returned encouraging intersections supporting the three main lenses (Best intercepts):SSRC0039: 6m at 3.5g/t, SSRC044: 6m at 6.3g/t SSRC0045: 6m at 10.14g/t

KCD

Relogging and remodelling of 3000 lode completed full KCD review. Down plunge and up plunge extensions being modelled for testing in 2017

PakakaMengu Hill

KalimvaIkamva

Watsa dome

KCD

Zambula

Mofu

Sessenge SW

Aindi Watsa

Rhino

Dilolo

Matiko

N

Ganga – PC trend

Concasseur trend

Meyo trend

Zembe trend

Moku trend

N

9km

KZ trend

KCDGAU

BLEG LEGEND

Moku project…reconnaissance fieldwork identifies multiple mineralised trends

Regional mapping and sampling programmes across the permit completedResults from stream sediment (BLEG) sampling programme across Mokuidentifies 5 areas with elevated anomalismResults indicate a close spatial relationship between the anomalous catchments and prospective structures in our geological modelProspective structures extend from Kibalialong the KZ Trend and extend through the Moku project3 channel samples in Gau return an average of 6.6m @ 3.39g/t over 250m strike in altered sediments at a BIF contact2017 work programmes will include detailed follow up work and soil geochemistry programmes over the 5 priority areas

Ngayu Belt…VTEM survey complete

10 000km VTEM airborne electromagnetic survey on the Ngayu greenstone belt completed

Final data and products are expected first week of February

Preliminary VTEM data is driving a new integrated geological interpretation of the belt and generation of conceptual areas of interest

Adumbi1.36Moz @ 2.20g/t

Yindi12.9m @ 2.20g/t

Yambenda - YasuaAnomalous structure

9.6km strike

Makapela1Moz @ 7.59g/t

Northern NgayuComplex foldingpotential plunging targetsGeochemical anomalism

Adumbi trendSimilar setting to AdumbiGeochemical anomalismIncrease in complexity near fold

Imva foldStructural complexityMajor structuresGeochemical anomalism

Leaving a legacy in our host communities…

Community programmes continue to focus on communication and sustainable value creation

Loulo-Gounkoto agricollege now in incubation phase+42 tonnes vegetables and poultry produced and sold57 community delegates completed phase 1 training

Songhai delegation highlighted potential for Morila to be a viable agribusiness project based on model in Benin

90 tonnes fish produced and 40 000 laying chickens introduced

Permitting for Kibali palm oil project complete and Malaysian consultants confirm feasibility

Group consolidated production, cash cost and capital spend…

0

1

2

3

4

5

0,0

0,5

1,0

1,5

2016 2017 2018 2019 2020 2021

Loulo/Gounkoto Tongon Morila 40%

Kibali 45% Massawa Total Cash Cost/oz

Capital Grade

Production MozTotal cash cost/ozCapex $m

Grade g/t

Randgold Resources…a real investment in the gold space

-

0,10

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0,30

0,40

0,50

0,60

0,70

0,80

0,90

1,00

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

US$

Dividend per share** in respect of the year under review but declared and paid in the following year

Up 900% in 11 years

proposed

52%

-

20

40

60

80

100

120

30/12/2005 05/09/2011 17/02/2017

Our relative outperformance is our Achilles heel...

US$/oz

Gold price1500

1000

500

2000

US$/share

Exploration is not replacing the gold produced…

0

1000

2000

3000

4000

5000

6000

7000

0

20

40

60

80

100

120

140

160

180

1990

1991

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1996

1997

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2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Gold discoveries Moz Gold production Moz

Exploration budgets $m Gold price $/oz

Major gold discoveries Moz US$ million US$/oz

Source: SNL Metals & Mining

Why no growth in gold production? …decline in ore grade

Reserve grade vs mining head grade

0,5

1,0

1,5

2,0

2,5

3,0

3,5Reserve Grade Head Grade

Grade g/t

Head grade

Q3 20161.64g/t

Source: SNL Metals and Mining

Gold Supply…the production cliff

Source: BMO Capital Markets

0

500

1000

1500

2000

2500

3000

3500

2013 2014 2015 2016E 2017E 2018E 2019E 2020E 2021E 2022E 2023E 2024E 2025E

Rest of World China Australia USA Russia South Africa Peru Canada Mexico

Gold tonnes 1/3 decline in new gold supply

Africa’s golden endowment…

Orogenic terrains

Gold deposit

Craton margin

Modified from Dirks et al.

West African Craton

Congo Craton

Kalahari Craton

East SaharaCraton

MalagasyCraton

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.