2016 BOA/ML Conference

together, creating sustainable value

BANK OF AMERICA MERRILL LYNCH

GLOBAL METALS, MINING & STEEL CONFERENCE

May 10, 2016

2

TOGETHER, CREATING SUSTAINABLE VALUE | MAY 2016

This presentation contains “forward-looking statements”, within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the United States Exchange Act of 1934, as

amended, or the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” under the provisions of applicable Canadian securities legislation, concerning the business,

operations and financial performance and condition of 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 (as defined in slide 28) and Mineral Resources (as defined in slide 28) the realization of Mineral Reserve estimates, the timing and amount of estimated future production, costs of

production, targeted cost reductions, capital expenditures, free cash flow, 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 words such as “plans”, “expects”, “is expected”, “budget”,

“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will”, “occur”

or “be achieved” or the negative connotation thereof.

Forward-looking statements are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of Goldcorp to be materially different from future results,

performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the

environment in which Goldcorp will operate in the future, including the price of gold and other by-product metals, anticipated costs and ability to achieve goals. Certain important factors that could cause actual

results, performances or achievements to differ materially from those in the forward-looking statements include, among others, gold and other by-product metals price volatility, discrepancies between actual and

estimated production, mineral reserves and mineral resources and metallurgical recoveries, mining operational and development risks, litigation risks, regulatory restrictions (including environmental regulatory

restrictions and liability), changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, expropriation or nationalization of

property and political or economic developments in Canada, the United States and other jurisdictions in which the Company does or may carry on business in the future, delays, suspension and technical

challenges associated with capital projects, higher prices for fuel, steel, power, labour and other consumables, currency fluctuations, the speculative nature of gold exploration, the global economic climate,

dilution, share price volatility, competition, loss of key employees, additional funding requirements and defective title to mineral claims or property. Although Goldcorp believes its expectations are based upon

reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other

factors that cause actions, events or results not to be as anticipated, estimated or intended.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important 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 international operations including economic and political instability in foreign

jurisdictions in which Goldcorp operates; risks related to current global financial conditions; risks related to joint venture operations; actual results of current exploration activities; actual results of current

reclamation activities; environmental risks; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other by-product metals; possible

variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; risks related to the integration of acquisitions; 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 most recent annual information form available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. 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. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. Except as otherwise indicated by Goldcorp, these statements do

not reflect the potential impact of any non-recurring or other special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may be announced or

that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans and allowing investors and others to get

a better understanding of the Company’s operating environment. Goldcorp does not intend or undertake to publicly update any forward-looking statements that are included in this document, whether as a result of

new information, future events or otherwise, except in accordance with applicable securities laws.

Forward-Looking Statements

3


Fed goes from hawkish to dovish in 2016

• Economic growth lower than expected

• Tightening cycle aborted?

Deteriorating global economic outlook

• Negative real and nominal rates

• Deflation

• Devaluation of Chinese yuan and competing

devaluation of the US dollar

(1) Source: Bloomberg as of April 26, 2016

The World Has Changed Since 2015

-3.00%

-2.00%

-1.00%

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

Real In

tere

st R

ate

(5

-year

US

TIP

S)

Gold

Price (

US

$/o

z)

Gold Price vs Real Interest Rates

Gold Price 5-Year Real Interest Rate (US TIPS)

4


20

22

24

26

28

30

32

2015A 2016E 2017E 2018E

Mill

ion o

unces

Gold Reserves(1) Declined Over Past Three Years

(1) Includes: Goldcorp, Barrick, Newmont, Newcrest, Agnico Eagle, Kinross, Yamana, AngloGold, Goldfields and Harmony

Source: Company reports(2) 2017–2018 production for AngloGold, Kinross, Newcrest, Goldfields and Harmony is assumed flat from 2016E for 2017E and 2018E

Production(1)(2) Set to Decline

8%

Large Cap Gold Reserves and Production Falling Quickly

420

440

460

480

500

520

540

560

2013A 2014A 2015A

Reserv

es (

mill

ion o

unces)

15%

5


Peak

Discovery(1)

Peak

Production(2)

3-y

ear

runnin

g a

vg

Au d

iscovere

d (

moz)

Gra

ssro

ots

+ 7

5%

of

late

-sta

ge e

xplo

ration b

udgets

(U

S$M

)

(1) Source: SNL Metals Economics Group(2) Source: Consensus estimates. Includes CPM Group, GFMS, and Metals Focus

Annual pro

duction (

moz)

Supportive Supply Picture

Global mine supply peaked in 2015

as exploration has not borne fruit

70

75

80

85

90

95

100

2003 2006 2009 2012 2015 2018 2021 2024

$0

$1,200

$2,400

$3,600

$4,800

$6,000

$7,200

0

25

50

75

100

125

150

1990 1993 1996 1999 2002 2005 2008 2011

6


666

• Net asset value (NAV) per share growth

key business driver

• Organic growth and brownfield exploration

Goldcorp Value Creation Principles

7


NAV per share

growth key

business driver

• Decentralized organization where mine managers are expected to be

business managers

• Future mine planning cycle to be driven by clear return on capital

expectations and NAV growth expectations at the business unit level

• Lean executive team to focus on portfolio management and disciplined

allocation of scarce capital

(1) Source: Consensus NAVPS as of April 22, 2016, research compiled by BMO


10.0% 9.2% 5.2% 2.4%

(0.4%) (1.0%) (1.7%) (3.4%) (4.8%) (6.3%)

10.0% 10.5%

1.2% 0.8%

(3.2%) (3.6%)

3.2%

(8.5%) (7.5%) (3.7%)

(10.0%)

(5.0%)

--

5.0%

10.0%

15.0%

Gold Price Agnico Eagle Goldcorp Newcrest Newmont Barrick Yamana Gold Fields AngloGold Kinross

Compound Annual Growth Rate (2005 – Today)

NAVPS Share Price

8


Organic Growth and Brownfield Exploration

• Lowest-risk, highest-rate-of-returns proposition comes from leveraging existing teams and infrastructure

• Brownfield exploration generates the fastest and cheapest reserve growth

• Grass roots exploration is high risk and often destroys capital partnerships with explorers critical to risk diversification


2016

Q1 Q2 Q3 Q4

2017

Q1 Q2 Q3 Q4

Porcupine – Hoyle Deep

Peñasquito – Pyrite Leach Project

Musselwhite – Materials Handling Project

Red Lake – HG Young

Red Lake – Cochenour

Peñasquito – Camino Rojo Oxide Project

Porcupine – Borden

Project Corridor

Execution

Feasibility study

Feasibility study

Concept study

Pre-feasibility study

Pre-feasibility study

Advanced exploration

Trade-off studies Pre-feasibility study

Completed project

9


99

Ability to

internally

finance

organic growth

opportunities

0.0

0.5

1.0

1.5

2.0

2.5

3.0

2016E-2018E

Mill

ion o

unces

Gold Production(1) Free Cash Flow(1,2)

Organic

growth

+$288M per

$100/oz

increase in

gold price

0

200

400

2016E

$ M

illio

n ~$400M

Liquidity of $3.2 Billion Expected to Grow in 2016

(1) See Appendix E for footnotes(2) FCF estimate calculated using a current spot price ($1,235/oz Au) plus midpoint of 2016 gold production and AISC guidance and is before dividends

2016E-2018E

10


10Targeting $250 Million in Annual Sustainable Efficiencies 10

(1) Desjardins research report, April 29, 2016

Potential to add ~$2B in NAV

Tangible Progress Achieved

• Energy-efficiency programs

• Supply chain efficiencies

• Water management

• Brownfield expansions

• Workforce reductions

(1)

11


Outstanding portfolio anchored

by long-life, low-cost mines in

five large mining camps

2016E GOLD

PRODUCTION

BY COUNTRY(1)

25% Mexico

14%

Dominican

Republic

20%

Argentina

5% Guatemala

37%

Canada

Operating mines

Development projects

(1) Based on attributable gold production as per February 25, 2016 press release. For mine-by-mine guidance, refer to Appendix B

Low Political Risk Jurisdictions

12


Click to edit Master title style 1212Cerro Negro Camp

Ownership 100%

Location Santa Cruz, Argentina

2016E production 475,000–525,000oz

2016E daily mill throughput 3,500tpd

P&P gold reserves1 4.66moz

M&I gold resources1 1.28moz

Inferred gold resources1 0.5moz

Current mine life 11 years

2016E exploration budget $16M

(1) Refer to Appendix F for further information on the reserves and resources

Core asset with low costs and strong production

• Successful ramp-up

• Optimizing infrastructure and G&A costs

Under-explored

• Opportunity to explore aggressively following improved

political environment

• Vein extensions and new targets support strong potential to

grow reserves

Opportunity to drive efficiencies across the site

• Challenges with inflexible workforce practices

• Stockpile depleted; focus on underground development

13


Click to edit Master title style 13

Exceptional asset

• Long underground mine life

• Innovative technology

• Plant ramp-up progressing to design of 7,000tpd, potential

upside

Mine optimization underway

• Dilution upside

• Folding and faulting accounted for; adjusting stope design

Significant new infrastructure in world-class region

• First mover advantage

• New camp with decades-long potential

13Éléonore Camp

Ownership 100%

Location Québec, Canada

2016E production 250,000–280,000oz






2016E exploration budget $5M(1) Refer to Appendix F for further information on the reserves and resources

14


Click to edit Master title style 1414Peñasquito Camp

Ownership 100%

Location Zacatecas, Mexico

2016E production 520,000–580,000oz







Core asset with organic growth potential

• Exiting high-grade portion of pit, upside in 2019

Pyrite Leach plant

• Potential to recover gold now going to tailings

• Investment decision mid-2016

Camino Rojo

• Pre-feasibility study on the oxides expected in the fourth

quarter 2016

Northern Well Field project

• Construction resumed, completion expected late 2016


15



Potential for infrastructure rationalization and

camp synergies

• Large, spread-out operation

• Five shafts and two mills

HG Young deposit

• Initial high-grade resource(1)

• Potential to sequence following depletion of High Grade Zone

Cochenour – an advanced exploration project

• More complicated than anticipated

• Requires additional drilling, drifting and

geological interpretation

15Red Lake Camp

Ownership 100%

Location Ontario, Canada

2016E Production 300,000–330,000oz







(1) HG Young deposit indicated mineral resource is 205,000 tonnes grading 19.08g/t and the inferred mineral resource is 787,000 grading 20.44g/t(2) Refer to Appendix F for further information on the reserves and resources

16


Click to edit Master title style 1616Porcupine Camp

Ownership 100%


2016E production 250,000–275,000oz






2016E exploration budget $11M(1) Refer to Appendix F for further information on the reserves and resources

Declining production focusing on margins

• Depleting low-grade stockpile and closure of Dome

underground in mid-2016

Asset optimization to maximize NAV

• Hoyle Pond winze completed; will drive efficiency and

productivity improvements

• Trade-off studies underway to optimize excess processing

capacity

Borden project

• Maiden reserve of 860,000 ounces

• Expected to enhance long-term economics of Porcupine

New neighbours

• Potential to maximize value of camp

17


Click to edit Master title style 1717Pueblo Viejo

Ownership 40%

Location Dominican Republic

2016E production 400,000–440,000oz






2016E exploration budget $0.2M(1) Refer to Appendix F for further information on the reserves and resources

Optimization efforts

• Improving efficiency and throughput ore blending

• Increasing autoclave availability

• Maintenance activities

Energy opportunities

• Quisqueya power station provides secure low-cost

energy supply

• Option to add significant value by leveraging existing assets

18



Further efficiency and productivity potential

• Continued low all-in sustaining costs

Exploration potential

• West Limb; six mineralized horizons established

Materials Handling project

• Feasibility study underway; completion expected mid-2016

• Expected to reduce costs, extend mine life and increase

annual production

18Musselwhite

Ownership 100%


2016E production 240,000–260,000oz








19


19Goldcorp Advantage

Delivering Shareholder Value

• Focus on growing NAV per share

• Decentralization and optimization targeted

to deliver $250 million in sustainable annual

efficiencies by 2018

• Reinvest free cash flow into robust internal

pipeline of projects, deleverage and pay

sustainable dividend

• Leverage exploration dollars with small

seed capital investments in junior

companies

20


2015 Actual 2016 Guidance(1)

Gold production(2) (oz) 3.46M 2.8–3.1M

Cash costs(2) ($/oz)

AISC

By-product

$894

$605

$850–$925

$500–$575

Capital(2,3) $1.3B $800–$900M

Exploration(4) $162M $135M

Corporate administration(5) $152M $150M

Depreciation & depletion(2) ($/oz) $457 $390–$420

Effective tax rate(6) 36% 40–45%

(1) 2016 price assumptions: Au=$1,100/oz, Ag=$15.00oz, Cu=$2.53/lb, Zn=$0.80/lb, Pb=$0.80/lb(2) See Appendix E for non-GAAP disclosure. (3) Capital expenditure is on an accrued basis and excludes capitalized interest; also excludes projects not yet approved(4) Includes capitalized exploration, 50% of exploration expense is expected to be expensed(5) Excludes share-based compensation expense of $68 million(6) The estimated effective tax rate is on net income exclusive of stock based compensation expense, the effects of foreign currency translation of deferred tax balances, impacts of foreign exchange fluctuation on tax losses and deductions

and balances and other discrete events.

Appendix A: 2016 Guidance

21


2015 Actual (oz) 2016E Guidance (oz)

Peñasquito 860,300 520,000–580,000

Cerro Negro 507,400 475,000–525,000

Pueblo Viejo (40%) 381,700 400,000–440,000

Red Lake 375,700 300,000–330,000

Éléonore 268,100 250,000–280,000

Porcupine 274,300 250,000–275,000

Musselwhite 270,300 240,000–260,000

Other(1) 526,600 380,000–440,000

TOTAL 3,464,400 2,800,000–3,100,000

(1) Other mines include Los Filos, Marlin and Alumbrera (37.5%), and for 2015 includes production from Wharf mine (divested Feb. 20, 2015)

Appendix B: Mine-by-Mine Guidance

22


Base Price

Change

Increments

Operating Cash

Flow per Share(1)

All-In Sustaining

Costs ($/oz)(1)

Free Cash

Flow(1) ($M)

Gold price ($/oz) $1,100 $100 $0.30 $2 $288

Silver price ($/oz) $15.00 $3.00 $0.09 $31 $94

Copper price ($/lb) $2.55 $0.50 $0.03 $12 $29

Zinc price ($/lb) $0.80 $0.10 $0.03 $12 $40

Lead price ($/lb) $0.80 $0.10 $0.01 $5 $16

Canadian dollar 1.30 10% $0.08 $31 $105

Mexican peso 16.00 10% $0.03 $16 $55

(1) See Appendix E for footnotes

Appendix C: 2016 Sensitivities

23


25%

16%

7%7%

9%

17%

1%

4%

6%

8%

Labour Contractors Fuel CostsPower Maintenance Parts ConsumablesTires Explosives Site CostsOthers

Latin

America

40%

15%3%6%

10%

13%

1%3%

7% 2%19%

18%

9%

6%7%

20%

2%

4%

6%

9%18%

12%

10%

13%

17%

11%

2%

3%

6%8%

Consolidated Canada Associates and

Joint Ventures

Appendix D: 2016 Production Costs

24


Note 1: The Company has included non-GAAP performance measures on an attributable (or Goldcorp’s share) basis throughout this presentation. Attributable performance measures include

the Company’s mining operations, including its discontinued operation, and projects, and the Company’s share of 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. 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 performance and ability to generate cash flow; however, these performance measures do not have any standardized meaning. Accordingly, it is 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.

Note 2: All-in sustaining cost per gold ounce is a non-GAAP performance measure that has been included in this presentation as the Company believes it more fully defines the total costs

associated with producing gold. Refer to pages 46-47 of the 2015 Annual MD&A and pages 29-30 of the Q1 2016 MD&A for a reconciliation of all-in sustaining costs.

Note 3: Total cash costs: by-product, per gold ounce is a non-GAAP performance measure that has been included in this presentation Refer to pages 44 & 45 of the 2015 Annual MD&A and

pages 27-28 of the Q1 2016 MD&A for a reconciliation of total cash costs and all-in sustaining costs to reported production costs.

Note 4: Adjusted operating cash flows are non-GAAP performance measures which comprise Goldcorp’s share of operating cash flows before working capital changes and which the

Company believes provides additional information about the Company’s ability to generate cash flows from its mining operations. Accordingly, it is 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. Refer to page 50 of the 2015 Annual MD&A and page31 of the

Q1 2016 MD&A for a reconciliation of adjusted operating cash flows before working capital changes to reported net cash provided by operating activities.

Note 5: Free cash flow is a non-GAAP performance measure which the Company believes, in addition to conventional measures prepared in accordance with GAAP, the Company and

certain investors use to evaluate the Company's ability to generate cashflows. Accordingly, it is 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 net cash provided by operating activities from

Alumbrera, Pueblo Viejo and Project Corridor. Refer to page 51 of the 2015 Annual MD&A and page 31 of the Q1 2016 MD&A for a reconciliation of free cash flows to reported net cash

provided by operating activities.

Note 6: Net Debt/Market capitalization is a non-GAAP performance measure which the Company believes, in addition to conventional measures prepared in accordance with GAAP, the

Company and certain investors use to evaluate the Company's debt levels relative to its peers. Accordingly, it is 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 and it has no standardized meaning. Net debt is calculated, on an attributable basis to include the

Company’s share of Alumbrera and Pueblo Viejo, by adding short term and long term debt less cash and cash equivalents. Market capitalization is information retrieved from Capital IQ and

uses the outstanding number of shares of a company multiplied by its share price as at a certain time period.

Appendix E: Footnotes

25


Tonnage Grade Contained Tonnage Grade Contained Tonnage Grade Contained

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

Alumbrera 37.5% 10.69 0.35 0.12 0.26 0.31 0.00 10.95 0.35 0.12

Borden 100.0% - - - 4.17 6.38 0.86 4.17 6.38 0.86

Camino Rojo 100.0% - - - 66.13 0.76 1.62 66.13 0.76 1.62

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

Cerro Negro 100.0% 5.02 10.58 1.71 10.00 9.17 2.95 15.02 9.64 4.66

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

Dee 40.0% - - - 0.00 0.00 0.00 0.00 0.00 0.00

El Morro 50.0% 160.91 0.56 2.91 138.62 0.35 1.55 299.53 0.46 4.46

El Sauzal 100.0% - - - - - - - - -

Éléonore 100.0% 4.17 6.49 0.87 24.15 5.76 4.48 28.32 5.87 5.35

Los Filos 100.0% 20.01 0.94 0.60 20.49 1.30 0.85 40.50 1.12 1.46

Marlin 100.0% 0.65 5.34 0.11 0.16 3.98 0.02 0.81 5.07 0.13

Musselwhite 100.0% 2.87 7.20 0.67 5.00 6.57 1.06 7.88 6.80 1.72

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

Peñasquito Heap Leach 100.0% 16.32 0.45 0.24 5.46 0.37 0.07 21.78 0.43 0.30

Peñasquito Mill 100.0% 398.28 0.58 7.48 188.40 0.39 2.39 586.68 0.52 9.87

Porcupine 100.0% 8.38 2.58 0.69 35.43 1.26 1.44 43.82 1.51 2.13

Pueblo Viejo 40.0% 37.02 2.97 3.53 25.57 2.97 2.44 62.58 2.97 5.97

Red Lake 100.0% 1.24 12.84 0.51 5.86 8.31 1.57 7.10 9.10 2.08

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

Totals 665.55 0.91 19.44 529.71 1.25 21.28 1,195.27 1.06 40.73

Proven and Probable

Gold

GOLDCORP MINERAL RESERVES

Proven Probable

As of December 31, 2015

Appendix F: Reserves and Resources

26


Tonnage Grade Contained Tonnage Grade Contained Tonnage Grade Contained Tonnage Grade Contained

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

Alumbrera 37.5% 51.19 0.34 0.55 18.11 0.39 0.23 69.30 0.35 0.78 22.50 0.33 0.24

Borden 100.0% - - - 2.61 5.81 0.49 2.61 5.81 0.49 2.09 5.49 0.37

Camino Rojo 100.0% - - - 234.24 1.00 7.53 234.24 1.00 7.53 17.38 0.84 0.47

Cerro Blanco 100.0% - - - 2.05 12.69 0.84 2.05 12.69 0.84 0.75 9.34 0.23

Cerro Negro 100.0% 1.35 4.99 0.22 5.53 5.97 1.06 6.88 5.78 1.28 2.17 7.19 0.50

Cochenour 100.0% - - - - - - - - - 4.16 16.36 2.19

Dee 40.0% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

El Morro 50.0% 9.90 0.53 0.17 36.28 0.38 0.44 46.18 0.41 0.61 339.03 0.30 3.23

El Sauzal 100.0% - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Éléonore 100.0% 0.94 6.84 0.21 3.65 5.14 0.60 4.58 5.49 0.81 9.97 7.11 2.28

Los Filos 100.0% 81.57 0.88 2.31 276.31 0.83 7.34 357.88 0.84 9.65 141.04 0.80 3.62

Marlin 100.0% 0.27 4.25 0.04 0.22 4.28 0.03 0.49 4.26 0.07 0.06 5.93 0.01

Musselwhite 100.0% 0.23 5.76 0.04 1.60 6.04 0.31 1.83 6.00 0.35 5.93 5.82 1.11

Noche Buena 100.0% - - - 52.88 0.37 0.63 52.88 0.37 0.63 4.30 0.22 0.03

Peñasquito Heap Leach 100.0% 12.60 0.18 0.07 34.95 0.16 0.18 47.54 0.17 0.26 0.57 0.31 0.01

Peñasquito Mill 100.0% 94.47 0.28 0.86 150.86 0.28 1.34 245.33 0.28 2.20 19.49 0.30 0.19

Porcupine 100.0% 21.80 1.38 0.97 81.20 1.39 3.62 103.00 1.39 4.59 13.85 3.69 1.64

Pueblo Viejo 40.0% 4.49 2.51 0.36 60.76 2.45 4.79 65.25 2.46 5.15 1.56 1.96 0.10

Red Lake 100.0% 1.24 21.88 0.87 2.48 17.60 1.40 3.71 19.02 2.27 3.45 19.86 2.20

San Nicolas 21.0% - - - 19.26 0.46 0.28 19.26 0.46 0.28 2.28 0.26 0.02

Totals 280.03 0.74 6.67 982.98 0.98 31.11 1,263.01 0.93 37.78 590.55 0.97 18.42

GOLDCORP MINERAL RESOURCES

Measured Indicated Measured & Indicated Inferred

Gold

As of December 31, 2015

Appendix F: Reserves and Resources (continued)

27


Scientific and technical information contained in this presentation was reviewed and approved by Gil Lawson, P.Eng., Vice-President, Geology and Mine Planning for Goldcorp, and a “qualified person”

as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”)

For additional information on the 2015 mineral reserves and mineral resources (“MRMR”), refer to the MRMR tables that can be found at www.goldcorp.com

Goldcorp December 31, 2015 Mineral Reserve and Mineral Resource Reporting Notes:

1 All Mineral Reserves or Ore Reserves have been estimated in accordance with the CIM Definition Standards or the JORC Code. The JORC Code has been accepted for current disclosure rules in

Canada under NI 43-101. Subject to note 4 below, all Mineral Reserves, Ore Reserves and Mineral Resources set out in the tables above have been reviewed and approved by Gil Lawson, P.Eng.,

Vice President of Geology and Mine Planning, Goldcorp, who is a qualified person as defined under National Instrument.

2 All Mineral Resources are reported exclusive of Mineral Reserves.

3 Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

4 Mineral Reserves and Mineral Resources are reported as of December 31, 2015, with the following conditions or exceptions:

1 Reserves and Resources for Pueblo Viejo are as per information provided by Barrick Gold Corporation.

2 Reserves and Resources for Relincho and San Nicolas are as per information provided by Teck Resources Limited.

3 Reserves and Resources for Alumbrera are as per information provided by Glencore plc.

5 Mineral Reserves are estimated using appropriate recovery rates and US$ commodity prices of $1,100 per ounce of gold, $16.50 per ounce of silver, $2.75 per pound of copper, $0.90 per pound of

lead, and $0.95 per pound of zinc, unless otherwise noted below:

1 Alumbrera $1,095/oz gold, $2.54/lb copper

2 El Morro $1,200/oz gold

3 Pueblo Viejo $1,000/oz gold for the next five years, and a long-term gold price of $1,200/oz from 2021 onwards, $16.50/oz silver, $3.00/lb copper

4 Relincho $13.70/lb molybdenum, $2.80/lb copper

6 Mineral Resources are estimated using US$ commodity prices of $1,300 per ounce of gold, $19 per ounce of silver, $3.25 per pound of copper, $1.00 per pound of lead and $1.00 per pound of

zinc, unless otherwise noted below:

1 Alumbrera $1,100/oz gold, $2.95/lb copper

2 El Morro $1,200/oz gold, $2.75/lb copper

3 Pueblo Viejo $1,300/oz gold, $17.50/oz silver, $3.25/lb copper

4 Relincho $13.70/lb molybdenum, $2.80/lb copper

5 San Nicolas $1,275/oz gold, $22.50/oz silver, $2.75/lb copper, $1.00/lb zinc


http://www.goldcorp.com/

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Cautionary Note Regarding Reserves and Resources:

Scientific and technical information contained in this news release was reviewed and approved by Gil Lawson, P.Eng., Vice-President, Geology and Mine Planning for

Goldcorp, and a “qualified person” as defined by Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-

101”). All Mineral Reserves and Mineral Resources have been calculated in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum

(“CIM”) and NI 43-101, or the AusIMM JORC equivalent. All Mineral Resources are reported exclusive of Mineral Reserves. Mineral Resources which are not Mineral

Reserves do not have demonstrated economic viability. Information of data verification performed on the mineral properties mentioned in this press release that are

considered to be material mineral properties to the Company are contained in Goldcorp’s most recent Annual Information Form and the current technical report for those

properties, all available at www.sedar.com.

Cautionary Note to United States investors concerning estimates of measured, indicated and inferred resources: This document has been prepared in accordance with the

requirements of the Canadian securities laws which differ from the requirements of United States securities laws and uses terms that are not recognized by the United

States Securities and Exchange Commission (“SEC”). The terms “Mineral Reserve”, “Proven Mineral Reserve” and “Probable Mineral Reserve” are Canadian mining terms

as defined in accordance with the CIM Definition Standards adopted by CIM Council on May 10, 2014 (the “CIM Definition Standards”) which were incorporated by reference

in NI 43-101. These definitions differ from the definitions in SEC Industry Guide 7 (“SEC Industry Guide 7”) under United States securities laws. Under SEC Industry Guide 7

standards, a “final” or “bankable” feasibility study is required to report reserves 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. United States investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into

reserves. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence and their economic and legal feasibility. A significant amount of exploration

must be completed in order to determine whether an Inferred Mineral Resource may be upgraded to a higher category. Under Canadian regulations, estimates of Inferred

Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. United States investors are cautioned not to assume that all or any

part of an Inferred Mineral Resource exists or is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian

regulations if such disclosure includes the grade or quality and the quantity for each category of Mineral Resource and Mineral Reserve; however, the SEC normally only

permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measures.

Accordingly, information contained in this presentation containing descriptions of the Company’s mineral deposits may not be comparable to similar information made public

by United States companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.


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