BANK OF AMERICA/MERRILL LYNCH 20th Annual Canada Mining Conference

September 4, 2014

FORWARD LOOKING STATEMENTS

2

This presentation contains “forward-looking statements”, within the meaning of the United States Private Securities Litigation Reform Act of 1995 and

applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Goldcorp Inc. (“Goldcorp”).

Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver, copper, lead and zinc, the estimation

of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of

production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, hedging

practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks,

unanticipated reclamation expenses, timing and possible outcome of pending litigation, title disputes or claims and limitations on insurance coverage. 

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”,

“is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, “believes” or variations of such words and

phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.  Forward-looking

statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or

achievements of Goldcorp to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks

related to the integration of acquisitions; risks related to international operations; risks related to joint venture operations; actual results of current

exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans

continue to be refined; future prices of gold, silver, copper, lead and zinc; possible variations in ore reserves, grade or recovery rates; failure of plant,

equipment or processes to operate as anticipated; accidents, labour disputes; delays in obtaining governmental approvals or financing or in the

completion of development or construction activities and other risks of the mining industry, as well as those factors discussed in the section entitled

“Description of the Business – Risk Factors” in Goldcorp’s annual information form for the year ended December 31, 2013 available at www.sedar.com. 

Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking

statements, there may be other factors that cause results not to be as anticipated, estimated or intended.  There can be no assurance that such

statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly,

readers should not place undue reliance on forward-looking statements.  Goldcorp does not undertake to update any forward-looking statements that are

included in this document, except in accordance with applicable securities laws.

All amounts are in U.S. dollars, unless otherwise stated.

Strategy to succeed over the long-term

Proven StrategyCONSISTENT FOCUS

3

Quality Growth

Safe, Profitable Production

Peer-Leading Balance

Sheet

Responsible Mining

Practices

Gold Focus

Low Political Risk

Together, creating

sustainable value

Proven StrategyKEY PRIORITIES

4

Delivering new projects on time and within

capital cost estimate

Operating for Excellence achieving operating cost reductions

Continued focus on execution only SAFE production

Portfolio management disciplined review and

investment

Financial Discipline

Operational UpdateGOLD FOCUS IN LOW-RISK JURISDICTIONS

5(1) Based on 2014 guidance as per January 8, 2014 press release, revised to exclude Marigold post Q1 2014

45%

31%

24%

Canada/US Mexico Central/South America

Operating minesDevelopment projects

2014E Gold Production(1)

By Region

Central and South AmericaCERRO NEGRO MINE

6

STRONG NEW CONTRIBUTOR TO GROWTH PROFILE

o First gold poured on July 25, 2014• 2014E: 130,000 - 180,000ozs• Commercial production expected

Q4 2014

o Initial capital estimate: $1.6 - $1.7B• Lowered by $100M

o Overall construction ~88%

o Outstanding reserve growth potential• Reserve and resources(1)

• P&P reserves: 5.75Mozs• M&I resources: 0.51Mozs• Inferred resources: 0.82Mozs

(1) Year ended December 31, 2013

CanadaÉLÉONORE PROJECT

7

FIRST GOLD EXPECTED IN LATE-2014

o Production/start-up• 2014E: 40,000 - 60,000ozs• Commercial production expected

Q1 2015• 575,000 - 625,000oz/annual(1)

o Construction• Overall progress 93%• Initial capital $1.8-1.9B

o Exploration focus• In-fill and exploration drilling the lower

mine area

o Reserves and Resources(2) • P&P reserves: 4.03Mozs• Inferred resources: 4.1Mozs

(1) Upon ramp up to full capacity expected in H1 2018(2) Year ended December 31, 2013

RED LAKE MINE

8

o Gold production• H1 2014A: 184,500ozs• 2014E: 440,000 - 480,000ozs

o New discovery - HG Young • Five drills from surface • Numerous high grade intercepts• Rehabilitating existing infrastructure

for underground access

o First development ore: Q4 2014

o Haulage drift at 96% completion

o Initial capital ~$496M

o Exploration focus• Drilling Bruce Channel from haulage

drift (currently seven drills, nine drills by year-end)

CanadaINTEGRATION PLAN ADVANCING

COCHENOUR PROJECT

MexicoPEÑASQUITO MINE

9

BUILDING MOMENTUM AT MEXICO‘S LARGEST GOLD MINE

o Gold production • H1 2014A: 297,200ozs• 2014E: 530,000 - 560,000ozs

o Northern Well Field project construction commenced; completion expected mid-year 2015

o Pre-feasibility studies advancing on CEP and pyrite leach projects

o In-fill drilling continues on copper-gold skarn

o Mine operating earnings of $131M in Q2 2014

MexicoCAMINO ROJO PROJECT

10

NEXT POTENTIAL GROWTH PROJECT

o Metallurgical test program ongoing

o Pre-feasibility study• Expected to commence by year-end• Completion expected in Q1 2016

o Commenced geotechnical drill program

o Regional synergies with Peñasquitoo 50km SW of mine

o Reserves and Resources(1) • P&P reserves: 1.6Mozs (oxide)• M&I resources: 5.1Mozs• Inferred resources: 4.9Mozs

(1) Year ended December 31, 2013

Central and South AmericaPUEBLO VIEJO MINE

11

MINE RAMP-UP PROGRESSING

o Gold production • H1 2014A: 213,300ozs• 2014E: 405,000 - 420,000ozs

o Dual fuel power plant commenced operations providing reliable, long term power

o Autoclaves have achieved targeted and sustainable run rates

12

Financial DisciplineYEAR TO DATE 2014

(1) Includes capitalized exploration(2) Actual six months ended June 30, 2014

Q1 2014A Q2 2014A

Gold production (oz) 679,900 648,700

Cash costs $ / oz

All-in sustaining $840 $852By-product $507 $470Co-product $673 $643

Capital expenditures $480M $588M

Exploration expenditures(1) $30M $31M

Corporate administration $43M $42M

Depreciation / oz $295 $335

Tax rate 8% 24%

73%

14%

5%2% 6%

Revenue by Metal(2)

Gold Silver Zinc Lead Copper

33%

22%11%

9%

8%

8%7%2%

Earnings from Mine Operations(2)

Penasquito Pueblo Viejo Red LakeMusselwhite Porcupine AlumbreraLos Filos Wharf El SauzalMarlin

Financial DisciplineALL-IN SUSTAINING COSTS

Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 2013A 2014E0

200

400

600

800

1,000

1,200

1,400

Sustaining capex Operating cost G&A Exploration Other

C O S T M A N A G E M E N T I N I T I AT I V E S & N E W L O W - C O S T M I N E S D R I V E D E C R E A S I N G C O S T S

13

US$/oz

$1,031$950 - $1,000

$1,227

$995

$810 $840 $852

14(1) 2014 price assumptions: Au=$1,200/oz, Ag=$20.00/oz, Cu=$3.00/lb, Zn=$0.90/lb, Pb=$1.00/lb(2) Revised to exclude Marigold post Q1 2014(3) Includes capitalized exploration

Financial DisciplinePOSITIVE MOMENTUM THROUGH GROWTH AND LOWER COSTS

2013 Actual J anuary 2014 Updated (2)

Gold production (oz) 2.67M 3.0M - 3.15M 2.95M - 3.10M

Cash costs $ / oz All-in sustaining $1,031 $950 - $1,000 $950 - $1,000By-product $553 $550 - $600 $550 - $600Co-product $687 $650 - $700 $650 - $700

Capital expenditures $2.4B $2.3B - $2.5B $2.3B - $2.4B

Exploration expenditures(3) $156M $190M $190M

Corporate administration $165M $185M $185M

Depreciation / oz $314 $385 $350

Tax rate 36% 41% 26%

2014E Guidance (1)

15

L O N G - L I F E , L O W - C O S T M I N E S T O G E N E R AT E L O N G T E R M VA L U E

Gold production (Moz)

2.95 – 3.1

3.6 – 3.83.7 – 4.0

3.5 – 3.8 3.5 – 3.8

2.7

Revised to exclude Marigold post Q1 2014

2013A 2014E 2015E 2016E 2017E 2018E0.0

5.5

Gold GEO

High Quality GrowthLEADING GROWTH PROFILE

Growth PipelineCURRENT OPERATIONS & BUILDING FUTURE VALUE

16

CAMINO ROJO(2)

PEÑASQUITO SKARN

RED LAKE - HG YOUNG

PORCUPINE TVZ

MUSSELWHITE – WEST LIMB

PEÑASQUITO- Concentrate Enrichment

Process- Pyrite Float- Heap Leach

EL MORRO

LOS FILOS EXPANSION- El Sauzal mill relocation- Bermejal underground

ÉLÉONORE- Crown pillar

CERRO NEGRO

ÉLÉONORE

COCHENOUR

HOLLINGER OPEN PIT

HOYLE DEEP

PUEBLO VIEJO (2012)

PEÑASQUITO (2010)

LOS FILOS (2008)

RED LAKE & OTHER OPERATING MINES(1)

CONCEPT & ADVANCED EXPLORATIONPRE-FEASIBILITY

EXECUTION

PRODUCTION

(1) Marlin, Porcupine, Musselwhite, El Sauzal, Alumbrera, Wharf(2) Will move into pre-feasibility in December 2014

17

Financial DisciplineSIGNIFICANT GROWTH SPEND NEARING COMPLETION

2011A 2012A 2013A 2014E 2015E $0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$1.8

$2.6$2.4 $2.3-2.4

Capital SpendUS$Billions

U N L O C K I N G F R E E C A S H F L O W

(1) As at June 30, 2014, projects include Cerro Negro, Éléonore and Cochenour

87%

13%

Capital Spend on New Growth Projects(1)

Completed Remaining

Proven StrategyCASH FLOW ALLOCATION PRIORITIES

INVEST IN HIGH RETURN ORGANIC GROWTH

FLEXIBILITY FOR SELECTIVE M&A

REGULAR DIVIDEND GROWTH

FUND EXISTING GROWTH PROFILE

CREATING SHAREHOLDER

VALUE

18

Financial DisciplinePEER-LEADING DIVIDEND PAYER

19

F I N A N C I A L D I S C I P L I N E S TA B L E D I V I D E N D

Q1'10

Q3'10

Q1'11

Q3'11

Q1'12

Q3'12

Q1'13

Q3'13

Q1'14

-0.02

0.00

0.02

0.04

0.06

0.08

0.10

0.12

0.14

0.16Dividend per Share(1)US$/share Percent Yield(2)

(1) Dividends declared each month(2) Source: Capital IQ (as of August 29, 2014)

233%

incre

ase

Kinross Newmont Agnico Barrick Yamana Goldcorp

-0.5%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

0.0%

0.4%

0.8%

1.1%

1.8%

2.1%

C O N S I S T E N T T R A C K R E C O R D O F D I V E S T I N G N O N - C O R E A S S E T S

Proven StrategyVALUE CREATION

20

Silver Wheaton

Terrane Metals (Mt. Milligan Project)

Osisko - Shares

Tahoe Resources(2) (Escobal Project)

Primero Mining(San Dimas Mine)

New Gold (Peak & Amapari Mines)

Kinross (La Coipa Mine)

ESTIMATED GAIN ON ASSET DIVESTITURES(1)

>$4.3 billionValue to Goldcorp

Shareholders

(1) Estimated gain is pre-tax(2) Market value of 40% share of Tahoe Resources plus gain on sale of Escobal project

Financial DisciplineSTRONG BALANCE SHEET MAINTAINED

21

$2.4BL I Q U I D I T Y

$1.2B(1)

$2.0B

CASH & EQUIVALENTS

UNDRAWN REVOLVING CREDIT FACILITY

I N V E S T M E N T G R A D E B A L A N C E S H E E T ( 3 )

NET DEBT AS A % OF MARKET CAP (2)

(1) Cash & equivalents and revolving credit facility based on financial information as of June 30, 2014.(2) As of August 29, 2014; All amounts as reported in company financial statements and adjusted for subsequent transactions. Goldcorp’s net debt position adjusted to include $375M of attributable Pueblo Viejo project debt and repayment of the $862M convertible debt. (3) Moody’s: Baa2; S&P: BBB+, Fitch: BBB

Goldcorp Agnico Yamana Kinross Newmont Newcrest AngloGold Barrick

11% 13%

24%

30%

38%

45% 46% 48%

$10.2B$3.2B$3.7B$5.1B$1.3B$1.8B$1.1B$2.4B

Why Gold?DEMAND IN Q2 2014 IN LINE WITH 10 YEAR AVERAGE

22

2.95 – 3.1

3.6 – 3.8

3.7 – 4.03.5 – 3.8

2.7

S TA B L E D E M A N D A N D F L AT T O L O W E R S U P P LY W I L L D R I V E H I G H E R G O L D P R I C E S

Source: World Gold Council

Q1'04

Q4'04

Q3'05

Q2'06

Q1'07

Q4'07

Q3'08

Q2'09

Q1'10

Q4'10

Q3'11

Q2'12

Q1'13

Q4'13

0

200

400

600

800

1,000

1,200

1,400

Gold Demand vs 10-Year Average(14th consecutive quarter of Central

Bank Net Buying)

Total Demand Average

Tonnes

Q1'04

Q4'04

Q3'05

Q2'06

Q1'07

Q4'07

Q3'08

Q2'09

Q1'10

Q4'10

Q3'11

Q2'12

Q1'13

Q4'13

0

200

400

600

800

1,000

1,200

1,400

Gold Supply

Total Supply

Tonnes

Why Goldcorp?LEVERAGE TO THE GOLD PRICE

23

Leverage in operating costs

No holding costs

Organic growth

Dividend payment

E X E C U T I O N R E S U LT S I N O U T P E R F O R M A N C E O F G O L D P R I C E

(1) Source: IPREO, August 29, 2014

Goldcorp GDX Gold price

29.5%

26.3%

7.1%

Performance YTD(1)

Why Goldcorp?MANAGING IN A VOLATILE GOLD MARKET

Gold price (US$)

Free cash flowHigher gold production

Lower operating and capital costs

24

Capital / operating costs

High-quality production growth

Source: Capital IQ – gold price (January 1, 2008 – August 29, 2014)

N E W G O L D M I N E S T O D R I V E S H A R E H O L D E R VA L U E

GOLDCORP ADVANTAGE

Quality Growth

Safe, Profitable

Production

Peer-Leading Balance

Sheet

Responsible Mining

Practices

Gold Focused

Low Political

Risk

25

SUPERIOR INVESTMENT PROPOSITION

Appendix ASTRONG DIVIDEND TRACK RECORD

2014E 2015E

26Source: Capital IQ (as of August 29, 2014)

Dividend as % of Operating Cash Flow

Kinross Newmont Barrick Agnico Yamana Goldcorp

0%

3%

9% 9%

18%

33%

0%2%

7% 8%

13%

23%

Appendix BAISC + INTEREST EXPENSE

27

0.1% 4.5% 8.9% 13.3% 17.7%22.1% 26.5%30.9% 35.3%39.7% 44.1%48.5% 52.9%57.3% 61.7%66.1% 70.5% 74.9%79.3% 83.7%88.1% 92.5%96.9%$600

$700

$800

$900

$1,000

$1,100

$1,200

$1,300

Cumulative Production (%)

AIS

C +

Inte

res

t($

/oz)

0.1% 4.5% 8.9% 13.3% 17.7% 22.1% 26.5% 30.9% 35.3% 39.7% 44.1% 48.5% 52.9% 57.3% 61.7% 66.1% 70.5% 74.9% 79.3% 83.7% 88.1% 92.5% 96.9%$600

$700

$800

$900

$1,000

$1,100

$1,200

$1,300

Cumulative Production (%)

All-

In S

us

tain

ing

Co

st

($/o

z)

Bar

rick

Go

ldco

rp

Kin

ross

An

glo

Go

ld

New

cres

t

New

mo

nt

Bar

rick

Go

ldco

rp

Kin

ross

An

glo

Go

ld

New

cres

t

New

mo

nt

2014 AISC ($/oz)

2014 AISC + Interest ($/oz)

Source: Company disclosure; based on the mid-point of guidance range. Interest Expense is 2014E consensus from Capital IQ.

A D J U S T I N G F O R I N T E R E S T E X P E N S E P U T S G O L D C O R PI N T O T H E B O T T O M Q U A R T I L E F O R A I S C

2014E Guidance

Appendix CMINE-BY-MINE GUIDANCE

2013 Actual

28

Peñasquito 404,000 530,000 – 560,000

Red Lake 493,000 440,000 – 480,000

Pueblo Viejo (40.0%) 324,000 405,000 – 420,000

Los Filos 332,000 330,000 – 345,000

Porcupine 292,000 290,000 – 305,000

Musselwhite 255,000 230,000 – 240,000

Marlin 202,000 175,000 – 185,000

Cerro Negro 0 130,000 – 180,000

Alumbrera (37.5%) 118,000 125,000 – 130,000

El Sauzal 81,000 100,000 – 105,000

Marigold (66.7%) 108,000 21,800(1)

Wharf 56,000 60,000 – 65,000

Éléonore 0 40,000 – 60,000

Total 2,665,000 2,950,000 – 3,100,000(2)

(1) Actual production figure for Q1 2014; Marigold mine was divested April 4, 2014(2) Mine-by-mine ranges reflect expectations at individual mines, but do not add up to corporate-wide guidance range total

Appendix D2014 SENSITIVITIES

29

Base Price

Change Incremen

ts

CFPS($/share)

All-In Sustaining Costs ($/oz)

FCF ($mm)

Gold Price ($/oz) $1,200 $100 $0.27 $2 $228

Silver Price ($/oz) $20.00 $3.00 $0.07 $28 $56

Copper Price ($/lb) $3.00 $0.50 $0.04 $14 $30

Zinc Price ($/lb) $0.90 $0.10 $0.03 $11 $21

Lead Price ($/lb) $1.00 $0.10 $0.01 $5 $9

Canadian Dollars 1.05 10% $0.02 $19 $115

Mexican Peso 12.50 10% $0.03 $18 $40

Appendix E2014 OPERATING COST BREAKDOWN

30

22%

15%

9%10%

9%

14%

2%4%

5%8%

Labour Contractors Fuel Costs Power Maintenance Parts Consumables Tires Explosives Site Costs Others

38%

16%6%5%

8%

12%

2%3%

5%5%

CANADA / USA MEXICO CSA13%

17%

12%

11%8%

15%

3%

6%4%

9%19%

12%

8%

15%11%

15%

1%4%

6%9%

CONSOLIDATED

Appendix FNOTES

31

Note 1: Free and adjusted operating cash flow, net asset value, and gold production and reserves are non-GAAP performance measures which Goldcorp believes that, in addition to conventional measures prepared in accordance with GAAP, Goldcorp and certain investors use to evaluate Goldcorp's ability to generate cash flows, its operating and economic performance and to provide measures which management uses internally to assess and evaluate the overall performance of its business and those of acquisition candidates and to highlight trends in the overall business. Accordingly, the measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Free cash flows are calculated by deducting from net cash provided by operating activities, Goldcorp's share of expenditures on mining interests, deposits on mining interest expenditures and capitalized interest paid, and adding Goldcorp's share of free cash flows provided by operating activities from Alumbrera and Pueblo Viejo. Adjusted operating cash flows comprises Goldcorp’s share of operating cash flows before working capital changes, dividends from associates and adjusted operating cash flows provided by Alumbrera and Pueblo Viejo.  Net asset value is estimated as the discounted future after-tax cash flows expected to be derived from a mine site, less an amount for costs to sell estimated based on similar past transactions.  When discounting estimated future after-tax cash flows, the Company uses its after-tax weighted average costs of capital.  Estimated cash flows are based on expected future production, metal selling prices, operating costs and non-expansionary capital expenditures, excluding those cash flows arising from future enhancements of the asset. 

Note 2: The Company has included certain non-GAAP performance measures throughout this presentation. The Company believes that, in addition to conventional measures prepared in accordance with GAAP, the Company and certain investors use this information to evaluate the Company’s operating and economic performance; however, these non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

The Company calculates its non-GAAP performance measures on an attributable basis. Attributable performance measures include the Company’s mining operations and projects, and the Company’s share from Alumbrera and Pueblo Viejo. The Company believes that disclosing certain performance measures on an attributable basis is a more relevant measurement of the Company’s operating and economic performance, and reflects the Company’s view of its core mining operations.

By-product cash costs incorporate Goldcorp’s share of all production costs, adjusted for changes in estimates at the Company’s closed mines which are non-cash in nature, and include Goldcorp’s share of by-product credits, and treatment and refining charges included within revenue. Additionally, cash costs are adjusted for realized gains and losses arising on the Company’s commodity and foreign currency contracts which the Company enters into to mitigate the Company’s exposure to fluctuations in by-product metal prices, heating oil prices and foreign exchange rates, which may impact the Company’s operating costs.

In addition to conventional measures, the Company uses total cash costs, by product and co-product, per gold ounce, to monitor its operating cash costs internally and believes these measure provide investors and analysts with useful information about the Company’s underlying cash costs of operating and the impact of by-product revenues on the Company’s cost structure. The Company reports total cash costs on a gold ounces sold basis. In the gold mining industry, this is a common performance measure but does not have any standardized meaning. The Company follows the recommendations of the Gold Institute Production Cost Standard. The Gold Institute, which ceased operations in 2002, was a non-regulatory body and represented a global group of suppliers of gold and gold products. The production cost standard developed by the Gold Institute remains the generally accepted standard of reporting cash costs of production by gold mining companies.

Appendix F (cont’d)NOTES

32

The Company, in conjunction with an initiative undertaken within the gold mining industry, has adopted an all-in sustaining cost performance measure; however, this performance measure has no standardized meaning and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The Company follows the guidance note released by the World Gold Council, which became effective January 1, 2014. The World Gold Council is a non-regulatory market development organization for the gold industry whose members comprise global senior gold mining companies.

All-in sustaining costs include total production cash costs incurred at the Company’s mining operations, which forms the basis of the Company’s by-product cash costs. Additionally, the Company includes sustaining capital expenditures, corporate administrative expense, exploration and evaluation costs, and reclamation cost accretion. The Company believes that this measure represents the total costs of producing gold from current operations, and provides the Company and other stakeholders of the Company with additional information of the Company’s operational performance and ability to generate cash flows. As the measure seeks to reflect the full cost of gold production from current operations, new project capital is not included. Certain other cash expenditures, including tax payments, dividends and financing costs are also not included. The Company reports this measure on a gold ounces sold basis.

Note 3: The terms “mineral reserve”, “proven mineral reserve” and “probable mineral reserve” defined in accordance with NI 43-101 differ from the definitions in US SEC Industry Guide 7 (“SEC Industry Guide 7”) under the US Securities Act. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. In addition, the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.

Appendix GGOLDCORP GOLD MINERAL RESERVES1

33

1All Mineral Reserves and Mineral Resources have been estimated as of December 31, 2013 in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 (“NI 43-101”), or the AusIMM JORC equivalent. These estimates, as well as all other scientific and technical information relating to Goldcorp’s mineral properties contained herein, have been prepared by employees of Goldcorp, its joint venture partners or its joint venture operating companies, as applicable, and have been reviewed and approved by Maryse Belanger, P. Geo., Senior Vice-President, Technical Services of Goldcorp, a “qualified person” for the purposes of NI 43-101. These estimates incorporate current and/or expected mine plans and cost levels at each property. Varying cut-off grades have been used depending on the mine and type of ore. Goldcorp’s normal data verification procedures have been employed in connection with these estimates. For a breakdown of Mineral Reserves and Mineral Resources by category and for a more detailed description of the key assumptions, parameters and methods used in calculating Goldcorp’s Mineral Reserves and Mineral Resources, please refer to Goldcorp’s most recently filed Annual Information Form/ Form 40-F filed with Canadian provincial securities regulatory authorities and the U.S. Securities and Exchange Commission. Mineral Reserves. Mineral Reserves are estimated using appropriate recovery rates and US$ commodity prices of $1,300 per ounce of gold, $22 per ounce of silver, $3.00 per pound of copper, $0.90 per pound of lead, and $0.90 per pound of zinc, unless otherwise stated: Alumbrera , $1,300/oz gold and $2.95/lb copper; Pueblo Viejo and Dee,$1,100/oz gold, $21/oz silver, $3.00/lb copper.

Tonnage Grade Contained Tonnage Grade Contained Tonnage Grade Contained

mt g Au/t m oz mt g Au/t m oz mt g Au/t m oz

Alumbrera 37.5% 66.56 0.35 0.75 1.88 0.21 0.01 68.44 0.35 0.76

Camino Rojo 100.0% - - - 66.76 0.76 1.63 66.76 0.76 1.63

Cerro Blanco 100.0% - - - - - - - - -

Cerro Negro 100.0% 0.04 11.08 0.01 18.87 9.43 5.72 18.91 9.43 5.74

Cochenour 100.0% - - - - - - - - -

Dee 40.0% 0.00 2.82 0.00 13.68 1.53 0.67 13.68 1.53 0.67

El Morro 70.0% 233.95 0.56 4.24 215.56 0.36 2.49 449.51 0.47 6.73

El Sauzal 100.0% 0.28 1.33 0.01 2.45 1.70 0.13 2.73 1.66 0.15

Éléonore 100.0% - - 19.30 6.49 4.03 19.30 6.49 4.03

Los Filos 100.0% 67.15 0.98 2.11 243.22 0.75 5.84 310.37 0.80 7.95

Marlin 100.0% 3.33 4.05 0.43 1.55 4.31 0.21 4.88 4.13 0.65

Musselwhite 100.0% 3.63 7.08 0.83 5.36 5.97 1.03 8.99 6.42 1.85

Noche Buena 100.0% - - - - - - - - -

Peñasquito Heap Leach 100.0% 41.97 0.42 0.56 41.49 0.33 0.44 83.46 0.37 1.00

Peñasquito Mill 100.0% 335.03 0.71 7.67 194.94 0.47 2.95 529.97 0.62 10.62

Porcupine 100.0% 15.29 2.02 1.00 50.31 1.26 2.03 65.60 1.44 3.03

Pueblo Viejo 40.0% 14.59 3.35 1.57 47.31 3.22 4.89 61.90 3.25 6.46

Red Lake 100.0% 1.70 12.34 0.67 6.29 9.17 1.88 7.99 9.94 2.55

San Nicolas 21.0% - - - - - - - - -

Wharf 100.0% 13.77 0.77 0.34 7.48 0.90 0.22 21.25 0.82 0.56

Totals 20.20 34.18 54.38

GOLD

(as of December 31, 2013) PROVEN PROBABLE PROVEN & PROBABLE