oz 2 % 8.7Moz LTIFR 0.47 KIBALI GOLD MINE. $287.7 million 1% $773/oz 5% $1.95 million. MALARIA IncIDence RATE

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1 KIBALI GOLD MINE PRODuceD oz 2 % DIRecT CONTRIBUTIon TO COMMunITY DeveLopMENT $1.95 million PROFIT FROM MINING ACTIVITY 1 $287.7 million 1% ToTAL cash cost 1 $773/oz 5% TOTAL RESERveS 8.7Moz MALARIA IncIDence RATE TO 28 % LTIFR Randgold Resources ANNUAL REPORT 217

2 The Kibali gold mine is located in the northeast of the Democratic Republic of Congo (DRC), approximately 22 kilometres east of the capital of the Haut Uele province, Isiro, 15 kilometres west of the Ugandan border town of Arua and 1 8 kilometres from the Kenyan port of Mombasa. The mine is owned by Kibali Goldmines SA (Kibali) which is a joint venture company effectively owned 45% by each of Randgold and AngloGold Ashanti, and 1% by Société Miniére de Kilo-Moto (SokIMO). The mine was developed and is operated by Randgold. Kibali production and FIve year ForecAST Kibali total MIneRAL resources and ORE reserves 2 Cash cost $/oz 8 Production oz Capex $ million Grade g/t 5 Moz Actual production Actual Forecast Forecast production Capital Grade Total cash cost/oz 1 1 Refer to explanation of non-gaap measures provided on page F-41 of this annual report Reserves Resources 2 Refer to the notes to the annual resources and reserves declaration on page 17 of this annual report. Randgold Resources ANNUAL REPORT

3 REVIEw of operations Kibali gold mine KIBALI KEY RESULTS 12 months ended 31 December Mining Tonnes mined () Ore tonnes mined () Milling Tonnes processed () Head grade milled (g/t) Recovery (%) Ounces produced Ounces sold Average price received ($/oz) Cash operating costs 1 ($/oz) Total cash costs 1 ($/oz) Profit from mining activity 1 ($) Attributable (45%) Gold sales 1 ($) Ounces produced Ounces sold Gold on hand at period end 2 ($) Profit from mining activity 1 ($) ACHIEVED IN 217 Produced oz of gold at a total cash cost of $773/oz Completed vertical shaft development Commissioned ore handling (haulage, crushing, hoisting) through shaft Started automation of underground materials handling system Continued ramping-up underground ore production Completed UFG and associated circuit expansion Integrated Ambarau hydropower station into power grid Advanced construction of Azambi hydropower station Environmental management system certification updated to latest revision ISO 141:215 Completed commercial maize trial Supported continued economic development of surrounding community Randgold owns 45% of Kibali with the DRC State and joint venture partner owning 1% and 45% respectively. The group equity accounts for its 45% joint venture holding in Kibali. 1 Refer to explanation of non-gaap measures provided on page F-41 of this annual report. 2 Gold on hand represents gold in doré at the mine multiplied by the prevailing spot gold price at the end of the period. N Central African Republic Kibali gold mine TARGETED FOR 218 Congo Kinshasa Angola DemocRATIc RepuBLIc of Congo Uganda Rwanda Burundi Tanzania Produce 73 oz Reduce total cash cost per ounce of production Optimise underground materials handling system Ramp-up underground to full production Complete Azambi, final new hydropower installation and integrate into power grid Reduce LTIFR and malaria incidence rate Maintain ISO 141 certification Replace reserve depletion Randgold permits Zambia 5km 7 Randgold Resources ANNUAL REPORT 217

4 kibali mineral resources and ore reserves The KCD, Pakaka, Kombokolo, Pamao, Gorumbwa and Sessenge resource models were updated during the year with additional data, principally from grade control drilling and updated geological modelling. Resource definition drilling identified gains in the Sessenge KCD push back 3 which helped offset depletion from mining, bringing these pits forward in the mine plan. Extensive underground grade control drilling and mapping continued on KCD underground as the mine prepared for the significant ramp-up planned for 218. This resulted in an increase in measured material available for development. The 3 and 5 Lodes were predominantly confirmed with this drilling while the 915 down plunge lode was reviewed following changes identified in the upper portions of the mine. Drilling to date on the underground mine has focused on infill drilling to increase confidence in the near term ore reserves for mine planning purposes. Drilling programmes in 218 will shift focus to orebody extensions and reserve and resource expansion with the first exploration drive planned for the 275L, to test the down plunge extensions of the 3 and 5 Lodes. Reserves decreased this year as a function of mining depletion and the geological model changes reported above on 915 with some gains reported in the 3 and 9 up plunge targets. Drilling will continue exploring these targets to potentially identify additional shallower reserves, which could be hauled out the declines, thus supporting the build-up in ore mined from underground. KIBALI MIneRAL RESouRceS AND ORE RESERveS Tonnes (Mt) Grade (g/t) Gold (Moz) Attributable gold 3 (Moz) at 31 December Category MINERAL RESOURCES¹ Stockpiles Measured Open pits Measured Indicated Inferred Underground Measured Indicated Inferred TOTAL MINERAL RESOURCES Measured and indicated Inferred ORE RESERVES² Stockpiles Proved Open pits Proved Probable Underground Proved Probable TOTAL ORE RESERVES Proved and probable Open pit mineral resources are the insitu mineral resources falling within the $1 5/oz pit shell reported at an average cut-off of.6g/t. Underground mineral resources in the KCD deposit are insitu mineral resources, that meet a cut-off of 1.6g/t within a minimum mineable stope shape, reported at and a gold price of $1 5/oz. KCD mineral resources were generated by Simon West, an officer of the company, under the supervision of Simon Bottoms, an officer of the company and competent person. Mineral resources for Pakaka and Gorumbwa were generated by Rolly Wassonga, an officer of the company, under the supervision of Simon Bottoms, an officer of the company and competent person. Mineral resources for Kombokolo & Pamou were generated by Abdoulaye Ngom, an officer of the company and competent person. 2 Open pit ore reserves were reported at a gold price of $1 /oz except KCD open pit which is reported inside a $1 1 pit design at an average cut-off of 1.g/t, including both dilution and ore loss factors. Open pit ore reserves were calculated by Nicholas Coomson, an officer of the company and a competent person. Underground ore reserves are reported at a gold price of $1 /oz and a cut-off of 2.5g/t and include dilution and ore loss factors. Underground ore reserves were calculated by Andrew Fox, an external consultant and a competent person. 3 Attributable gold (Moz) refers to the quantity attributable to Randgold based on its 45% interest in the Kibali gold mine. Mineral resource and ore reserves are quoted as per JORC 212 guidelines and thus reported to the second significant digit. All mineral resource tabulations are reported inclusive of that material which is then modified to form ore reserves. Refer to the notes to the annual resources and reserves declaration on page 17 of this annual report. Randgold Resources ANNUAL REPORT

5 REVIEw of operations Kibali gold mine Operations The Kibali mine has been developed in two phases. Phase 1, which encompassed the KCD open pit operation and processing plant, the mine infrastructure (including a 36-unit high speed thermal power station) and the first of three hydropower stations, was completed in December 214. Phase 2, comprising the underground mine development, including the vertical shaft, was commissioned at the end of the year and two additional hydropower stations, one of which was commissioned at the start of 217 and the other is scheduled for commissioning in mid 218, along with further satellite pit developments. The mine is expected to produce above 6koz of gold per annum for the next 1 years with current LoM extending to 232. Open pit mining started in July 212 and commissioning of the oxide processing circuit began in Q Kibali poured its first gold in September 213, ahead of plan, and started commercial production in Q Commissioning of the sulphide circuit began early in 214 and production has steadily ramped-up since then with the mine now consistently exceeding its processing nameplate capacity. In 217, Kibali produced oz of gold at a total cash cost of $773/oz. Gold sales amounted to $754.9 million (1% basis) resulting in a profit from mining activity (before interest, tax and depreciation) of $287.7 million. Capital expenditure for the year was $244.3 million. The underground development and the shaft completion ($132.2 million), along with the completion of the second and start of the third hydropower station, were the key capital projects for the year. Capital expenditure was also incurred on the expansion of the Ultra-Fine Grind (UFG) capacity, deferred stripping at both Kombokolo and Pakaka satellite pits, the Gorumbwa Resettlement Action Plan (RAP) and rebuilds to the open pit mining fleet. Mining and production Open pit mining A total of 34.5Mt was mined from the open pits in 217, including close to 5.Mt of ore, an increase from the 33.9Mt mined in 216. Mining from Pakaka and Kombokolo continued according to plan, while a pit optimisation study resulted in rescheduling Gorumbwa to 219 and bringing forward the KCD pushback 3, which was initiated mid-year. Pakaka, Kombokolo and KCD PB3 will all continue into Q1 218, with Pakaka replaced by Sessenge, the sixth satellite pit at Kibali, during Q A Pakaka pushback is planned for later in the mine life. Kibali KCD and sessengue block models with underground mine design KCD open pit $1 1/oz design Sessenge open pit $1 /oz design Gold g/t >8 2m 72 Randgold Resources ANNUAL REPORT 217

6 Kibali Plant PeRFoRMAnce: 217 operational and flowsheet improvements allow for full sulphide treatment Proportion of sulphide ore % 1 Q3 average 81.3% Q4 average 85.6% Q1 average 51% Q2 average 55% Week 1 Week 3 Week 5 Week 7 Week 9 Week 11 Week 13 Week 15 Week 17 Week 19 Week 21 Week 23 Week 25 Week 27 Week 29 Week 31 Week 33 Week 35 Week 37 Week 39 Week 41 Week 43 Week 45 Week 47 Week 49 Week 51 Fresh ore proportion in the feed blend kibali Plant PeRFoRMAnce: Improvement in Tonnes treated Tonnes treated per year (million) Tonnes Randgold Resources ANNUAL REPORT

7 Jan 16 Mar 16 May 16 Jul 16 Sept 16 Nov 16 Jan 17 Mar 17 May 17 Jul 17 Sept 17 Nov 17 REVIEw of operations Kibali gold mine Kibali plant: pumpcell residue and throughput Tonnes 25 Residue grade g/t Q3 216 Q4 216 Q1 217 Q2 217 Q3 217 Q4 217 Quarterly tonnes Residue grade (g/t) Kibali power: 216 and 217 generation Total power generation MW Unit cost $/kwh Hydro power Diesel power Cost 74 Randgold Resources ANNUAL REPORT 217

8 Underground mining Underground mining continued to ramp-up during the year, with an ore production of 1.79 Mt, up 17% on the previous year. The completion and commissioning of the shaft infrastructure enabled its first beneficial use during the fourth quarter, with 118kt hoisted. The optimisation of the shaft and materials handling system will be a key focus in 218 to bring underground production up to full capacity, with a mining target of approximately 3.5Mt of ore for the year. Processing and engineering Processing Following the team restructuring and processing stabilisation in the second half of 216, the plant steadily improved during 217 and operated consistently above its design capacity, treating 7.6Mt of ore for the year. This was achieved while increasing the sulphide feed until Q4, when the predominant feed was sulphide on both streams. Following the successful extension and commissioning of the UFG completed during Q1 217, Kibali was able to demonstrate substantial improvements in pumpcell dissolution, contributing to a 4% overall recovery improvement year on year. The graphs [facing] illustrate the steadily increasing throughput year on year, the increased proportion of sulphide feed and the improvements (higher throughput with increased recovery) in pumpcell performance, following the addition of UFG capacity. Engineering and power supply With continued improvement in planned maintenance, mill availability increased to 96% for the year, with a corresponding run time of 94%, up from 93% in 216. The commissioning of Ambarau, Kibali s second new hydropower station at the end of Q1 was another milestone in the mine s hydropower strategy. Despite the maximum power generation capacity increasing to 34MW, a dry year with lower than expected river flow resulted in higher power costs of $.14/kWh (216: $.13/kWh). However, power costs during the wet season in Q2 with all turbines running was $.7kWh, demonstrating the potential for low cost, low emission power generation in a typical rainfall year. Azambi, the third and last hydropower station, will produce first power in mid-218 with immediate full integration into the Kibali grid. Total power consumption was 316GWh in 217 compared to 284GWh in 216. Construction The concentrate fine grind capacity was increased in Q1 217, with four additional UFG mills and pumpcell capacity added to the circuit. This enabled the treatment of the increased sulphide content as underground volumes and deeper pits contributed most of the feed. A cyanide detox facility was constructed and commissioned during the year, enabling more efficient water use, with greater volumes of tailings water returned to the circuit. Construction of the next phase of the cyanide tailings storage facility was initiated during the last quarter, to increase the capacity for Cyanide In Leach (CIL) tails, and is scheduled for completion in Q Randgold Resources ANNUAL REPORT

9 REVIEw of operations Kibali gold mine Kibali: shaft hoisting tonnage profile Daily tonnage Nov Nov Nov Nov Nov Nov Nov Nov Nov 17 1 Dec 17 3 Dec 17 5 Dec 17 7 Dec 17 9 Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec 17 The major construction project for the year was the Azambi hydropower station, which is on track for first power in mid-218 as river levels rise, with the intake and Rubble Masonry Concrete (RMC) weir construction to start on the second phase river diversion in March 218 during the lowest flow of the river. Decline development The C-decline holed in July 217, linking the declines with the shaft and providing flexibility in access and movement of equipment and material. This completed 4.5 years and 7.7km of decline development, with a maximum displacement of.16mm on the holing. The total development metres for the year was 12.97km, taking the total for the project to 47.6km. Vertical shaft system All the shaft infrastructure was completed during the year, with the system fully commissioned in Q4, effectively completing the capital phase of Kibali. The underground capital phase included the completion of the first phase of the Roller Compacted Concrete (RCC) central haulage, which is required for the automated hauling of ore from the waste passes to the crusher coarse ore bins. The automated haulage was also commissioned in Q4 but loader synchronisation faults delayed the optimisation and full capacity operation of the system which is planned for early 218, following system software updates by the original equipment manufacturers, Sandvik. Additional installed infrastructure includes two underground 5t/h crushers, underground conveyors, the shaft itself as well as surface conveyors feeding the ore from the shaft to the plant. KIBALI VERTICAL SHAFT RESULTS 12 months ended 31 December Off shaft development Hoisted ore tonnes KIBALI UNDERGRounD DecLIne RESULTS 12 months ended 31 December Ore tonnes mined Development metres Randgold Resources ANNUAL REPORT 217

10 Randgold Resources ANNUAL REPORT

11 REVIEw of operations Kibali gold mine Exploration Exploration focused mainly on three key objectives: mine plan flexibility, resource addition/ replacement and new discovery. Rhino- Agbarabo-Kombokolo was evaluated further, leading to the identification of multiple discreet, plunging, high-grade shoots along the Kombokolo Hill banded Iron Formation (BIF). The potential to mine these shoots from underground is being assessed. Following up on the updated model of KCD, a deep hole was drilled 6m down plunge from the known model, to test the BIF model associated with the 3, 5 and 9 lodes. The hole was a success, intersecting the BIF as projected along with an additional BIF below the 9 lode, interpreted to link up-plunge to the Sessenge SW target on surface. A programme to test this additional potential is planned for 218. On the new discovery front, Kalimva-Ikamva was drilled from the beginning of 217 following up on the mineralisation identified in earlier surface and sub-surface work. This work confirmed the potential of the target as a satellite pit. Work was also completed on the Oere, and Belengo targets with encouraging results. In the south of the KZ trend, new targets where generated, among them the Zakitoko target, which has been the subject of field work in the last quarter of the year and which has returned strong lithosample results over strike length of 6kms. A detailed summary of the exploration work completed during 217 can be found in the exploration section of this annual report. Health and safety One of Kibali s hauling contractors suffered a truck collision during the year, resulting in a double fatality. In addition Kibali had six LTIs during the year, an increase of one LTI, bringing the LTIFR to.63 compared with.44 the previous year. Emphasis was placed on individuals taking responsibility for safety through Tool Box Talks and one-on-one counselling. Increased training of contractors and supervisors across the organisation, together with awareness campaigns in conjunction with the union, were implemented in the last two quarters. On the malaria front, the MIR deteriorated slightly with an MIR of 28% for the year, up from 26 % in 216, mainly due to a spike during the height of the wet season between May and July. A review and revision of the residual spraying regime and insecticides used is expected to address this in 218. Environment Kibali underwent a successful certification and conversion of its environmental management system to the updated ISO 141:215. No major or moderate environmental incidents were recorded and biodiversity results from an aquatic survey indicated significantly improved indices. Support for conservation in Garamba National Park continued for the third year and interaction with Kibali environmental representatives was initiated. The closure liability assessment resulted in an increase of 3% due to new infrastructure in the plant (detox ponds and UFG) and expansion of the waste rock dumps. Further details on the environmental initiatives are provided in the sustainability section of this annual report Human resources and industrial relations Constructive labour relations were maintained with the unions and workforce during the year and there were no disruptions to operations resulting from industrial action. The roll-out of the group In-Reach programme enhanced communication and opened channels for improved understanding among the workforce. With the work programme intensifying at Azambi, build-up of the underground owner s team, start of the TSF lift project as well as additional Congolese contractors appointed in open pit mining, the total workforce including contractors increased to from 5 48 in 216. The total number of Kibali employees was 91 and in line with Randgold s strategy, the mine continued to focus on host country employment and skills transfer, steadily increasing the Congolese component to more than 91% of the manpower. Community There was prolonged political uncertainty in the DRC during 217 and the long-delayed elections triggered public demonstrations in some parts of the country. However, in Durba (the nearest town to the mine) and surrounding communities, the situation remained calm as the mine proactively maintained a meaningful stakeholder engagement with local communities. The mine continues to invest in community infrastructure development with a large scale water distribution programme, health care centres, schools and recreation facilities funded during the year. Vocational and technical programmes for youth, summer soccer and educational clinics, a women s leadership programme, HIV screening and counselling and malaria awareness are some of the initiatives supported by the mine through local NGOs. 78 Randgold Resources ANNUAL REPORT 217

12 The mine also invested in alternative livelihood projects and agricultural development initiatives. Poultry, livestock and community maize farms, fisheries and a cocoa tree nursery were successfully implemented by local entrepreneurs, while the large scale palm oil and processing project has been delayed pending an improvement in the DRC investment climate. Further details of Kibali s sustainability initiatives are provided in the sustainability section of this annual report. KIBALI MAnpoWER at 31 December Expats Nationals Total Expats Nationals Total Employees Contractors TOTAL KIBALI SAFETY (LTIFR) Randgold Resources ANNUAL REPORT