goldcorp td jan

JANUARY 29, 2013 TD SECURITIES MINING CONFERENCE

STRATEGY.

DISCIPLINE.

EXECUTION.

FORWARD LOOKING STATEMENTS

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, 2011 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.

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CONSISTENT STRATEGIC FOCUS

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Peer-Leading Balance Sheet

Responsible Mining

Practices

Low Political

Risk

TOGETHER CREATING

SUSTAINABLE VALUE

Focus on Quality Ounces

Cost Management

S T R A T E G Y .

ROBUST DEVELOPMENT PIPEL INE

CAMINO ROJO

(SULPHIDES)

PEÑASQUITO UG

El MORRO U/G

CAMINO ROJO

(OXIDES) (2016)

EL MORRO

AGUA RICA

CERRO BLANCO

CERRO NEGRO (2013)

ÉLÉONORE (2014)

COCHENOUR (2015)

PUEBLO VIEJO (2012)

PEÑASQUITO (2010)

LOS FILOS (2008)

MARLIN (2006)

RED LAKE & OTHER

OPERATING MINES*

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SCOPING

FEASIBILITY

CONSTRUCTION

PRODUCTION

Growth Pipeline of Quality Ounces

* PORCUPINE, MUSSELWHITE, EL SAUZAL, ALUMBRERA, MARIGOLD, WHARF

S T R A T E G Y .

FINANCIAL POSITION – EXCELLENT LIQUIDITY

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(US$) as at Dec. 31, 2012

1 Moody’s: Baa2; S&P: BBB+; Fitch: BBB. 2 Includes money market instruments, non-GAAP measure.

INVESTMENT GRADE BALANCE SHEET1

CASH & CASH EQUIVALENTS2

AVAILABLE DEBT FACILITY - UNDRAWN

CONVERTIBLE SENIOR NOTES – DUE 2014

~$900 M

$2.0 B

$862.5 M

~$2.9 B LIQUIDITY

Balance Sheet

D I S C I P L I N E .

RETURNING SHAREHOLDER VALUE

$0.18 $0.18 $0.18 $0.21

$0.41

$0.54 $0.60

2007 2008 2009 2010 2011 2012 2013E

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Dividend ($ per share) Dividend up 233% since 2009

Dividend ($ per share)

Dividend increases (annual):

Oct. 27, 2010 - $0.36/share; Feb. 24, 2011 - $0.40/share; Dec. 5, 2011 - $0.54/share; Jan. 7, 2013 - $0.60/share


SIGNIFICANT RETURN OF CAPITAL TO SHAREHOLDERS

23% 21%

18% 14%

13%

18% 17%

13% 12% 9%

Newmont Goldcorp Yamana Barrick Kinross

2012E 2013E

7 Source: Bloomberg consensus (as of Jan. 17, 2013)

Dividend as % of Operating Cash Flow


STRONG CASH FLOW GROWTH (12E – 15E)

16% 18% 21% 23%

43%

75%

Newmont Kinross Agnico Barrick Yamana Goldcorp

8 Source: Bloomberg consensus (as of Jan. 17, 2013) Dollar figures are cash flow per share estimates 2012 – 2015


2013 MINE BY MINE GUIDANCE

2013 Guidance

2012 Actual

R e d L a k e 475,000 - 510,000 507,500

P e ñ a s q u i t o 360,000 - 400,000 411,300

L o s F i l o s 340,000 - 350,000 340,400

P u e b l o V i e j o ( 4 0 . 0 % ) 330,000 - 435,000 41,200

P o r c u p i n e 270,000 - 280,000 262,800

M u s s e l w h i t e 250,000 - 260,000 239,200

M a r l i n 185,000 - 200,000 207,300

A l u m b r e r a ( 3 7 . 5 % ) 120,000 - 125,000 136,600

M a r i g o l d ( 6 6 . 7 % ) 95,000 - 100,000 96,300

E l S a u z a l 70,000 - 80,000 81,800

W h a r f 55,000 - 60,000 68,100

To t a l 2,550,000 – 2,800,000 2,392,500 9


2013 GUIDANCE

20131

Guidance 2012

Actual

G O L D P R O D U C T I O N ( m o z ) 2.55 - 2.80 2.39

C A S H C O S T S $ / o z A L L - I N S U S TA I N I N G B Y - P R O D U C T C O - P R O D U C T

$1,000 - $1,100

$525 - $575 $700 - $750

~$865 ~$315 ~$645

C A P I TA L E X P E N D I T U R E S $2.8B TBA

E X P L O R AT I O N E X P E N D I T U R E S $225M TBA

C O R P O R AT E A D M I N I S T R AT I O N $180M TBA

D E P R E C I AT I O N / o z $335 TBA

TA X R AT E 29% TBA

10 1 2013 price assumptions: Au=$1600/oz, Ag=$30/oz, Cu=$3.50/lb, Zn=$0.90/lb, Pb=$0.90/lb


text

ALL- IN CASH COSTS

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I M P R OV E D C A S H C O S T D I S C LO S U R E

By-product cash costs Current metrics do not capture all expenditures key to analyzing a company’s profitability

More complete picture of industry profitability to stakeholders

More effective correlation to current gold equity valuation

Industry working towards a consistent, industry-wide standard

text Sustaining capital

text Corporate general and administrative expense

text Exploration expense

What’s included: Why?


5 YEAR PRODUCTION GUIDANCE

2012A 2013E 2014E 2015E 2016E 2017E

2.39

2.55 - 2.8

3.2 - 3.5

3.5 - 3.8 3.8 - 4.0

4.0 - 4.2

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Gold production (Moz)

Increasing Production ~70%


FOCUS IN LOW RISK JURISDICTIONS

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Canada 38%

US 6%

Mexico 30%

Argentina 5%

Dominican Republic 14%

Guatemala 7%

2013E GOLD

PRODUCTION

ARGENTINA

DOMINICAN REPUBLIC

GUATEMALA

CHILE

Operating Mines Development Projects

MEXICO

USA

CANADA

E X E C U T I O N .

CANADA

Red Lake Musselwhite

Porcupine

Éléonore

Cochenour

RED LAKE

Gold production

2012A: 507,500 oz

2013E: 475,000 - 510,000 oz

Robust, low cost gold production

Single de-stress slot for 2013 at the 46/47 level 14

Cornerstone Asset

Strong exploration potential

5 drills to test and extend NXT Zone

Focus on newly discovered structure off of 4699 ramp at the High Grade Zone

E X E C U T I O N .

RED LAKE - HIGH GRADE ZONE DRILLING Exploration Success – NXT Zone

15 E X E C U T I O N .

MEXICO

PEÑASQUITO

Gold production

2012A: 411,300 oz

2013E: 360,000 - 400,000 oz

Long term water management study underway – completion expected in 1H’13

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Mexico’s Largest Gold Producer

Focus on efficiencies & cost reductions

Largest cash flow generator in 2012

22-year mine life

PEÑASQUITO

Los Filos

El Sauzal

E X E C U T I O N .

PUEBLO VIEJO New Source of Gold Production

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DOMINICAN REPUBLIC

Pueblo Viejo

1 Goldcorp interest 40%

First gold production achieved

2012A: 41,200 oz1

2013E: 330,000 - 435,000 oz1

Commercial production declared

E X E C U T I O N .

Annual output 415,000 to 450,000 ounces per year1 in first five years

Life of mine +25 years

Dual fuel power plant to commence operations in mid-2013

CERRO NEGRO

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Developing our Next Cornerstone Mine

ARGENTINA

High grade vein system

Outstanding reserve growth potential

Santa Cruz mining province

Alumbrera

El Morro

Cerro Negro

E X E C U T I O N .

Updated economics:

525 koz Au annually (1st 5 years)

<$350/oz cash costs (1st 5 years)

Initial capital expenditure of $1.35B

First production late-2013

CERRO NEGRO

Eureka decline advanced over 2,100 M

Ore stockpile of ~40,300 tonnes at expected grades of 11.1 g/t Au and 204 g/t Ag

Mariana Central ramp development reached 475m

Mariana Norte ramp development reached 310m

Construction & development activities advancing:

Plant construction

Equipment & material imports progressing well

Strong exploration results continue

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Construction on Schedule

E X E C U T I O N .

CANADA

ÉLÉONORE

Development plan:

Upper/lower mine concept; 7 ktpd

~ 600,000 oz Au / annually

Initial capital expenditure: $1.75B

First production late-2014

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Pure Gold in a Safe Jurisdiction

Red Lake

Musselwhite

Porcupine

Éléonore

Cochenour

E X E C U T I O N .

Gaumond exploration shaft completed

Exploration ramp extended over 2,500m; 4 drills underway

Production shaft sinking commenced; depth of 83m

CANADA

Red Lake

Musselwhite

Porcupine

Éléonore

COCHENOUR

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Key Growth Driver in Red Lake District

Cochenour

Development plan:

225,000 - 250,000 oz Au / annually

Initial capital expenditure: $540M

First production 1H’15

Construction underway

E X E C U T I O N .

Shaft widening advancing

Haulage drift 68% complete

Exploration advancing

Two drills from haulage drift

CAMINO ROJO - EXPLORATION SUCCESS

Economic oxide project

Testing sulphide opportunity

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Advancing District Opportunity

E X E C U T I O N .

MEXICO

CAMINO ROJO

Los Filos

El Sauzal Peñasquito

Focus on exploration, land acquisition permitting and metallurgical testing

CHILE

EL MORRO

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Long Term Strategic Asset

Cerro Negro

Alumbrera

El Morro

Goldcorp interest 70%

E X E C U T I O N .

Large, under-explored land position

Construction deferred pending:

Reinstatement of permits

Project optimization

Power solution

Updated capital estimates

text

text

text

text

text

EXECUTION DELIVERABLES - 2013

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Commence production at Cerro Negro

100%

INITIATIVE 1

INITIATIVE 2

INITIATIVE 3

INITIATIVE 4

H I T T I N G M I L E S TO N E S

Pueblo Viejo ramp up

Advance Éléonore mine development

Haulage drift completion at Cochenour (Q1’14)

Implement long term water strategy at Peñasquito

INITIATIVE 6

text Test Los Filos expansion opportunity INITIATIVE 5

E X E C U T I O N .

WHY GOLD?

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516%

Central bank buying

Flat mine supply

Stable investment

demand

Safe haven/ asset class Inflation

hedge

Currency protection

Growing physical demand

China factor

Continued debasement of international

currencies

increase over 2000

E X E C U T I O N .

Dec. 31, 2000 – Dec. 31, 2012

12 Consecutive Years of Gold Price Growth - Gold price (per ounce)

2000 2012

GOLDCORP ADVANTAGE

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FOCUS ON QUALITY OUNCES

COST MANAGEMENT

PEER-LEADING BALANCE SHEET

RESPONSIBLE MINING PRACTICES

LOW POLITICAL RISK

S U P E R I O R INVESTMENT PROPOSITION

E X E C U T I O N .

STRATEGY.

DISCIPLINE.

EXECUTION.

APPENDIX A - 2013 SENSITIVITIES

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Base Price Change

Increments CFPS

($/share)

By Product Cash Costs

($/oz)

FCF ($mm)

Gold Price ($/oz) $1,600 $100 $0.25 $1 $205

Silver Price ($/oz) $30.00 $3.00 $0.06 $27 $52

Copper Price ($/lb) $3.50 $0.50 $0.04 $17 $32

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

Lead Price ($/lb) $0.90 $0.10 $0.01 $5 $10

Canadian Dollars 1.00 10% $0.05 $19 $152

Mexican Peso 12.75 10% $0.04 $15 $39

Diesel ($/barrel) $100.00 10% $0.02 $9 $16

Electricity ($/kWh) $0.09 10% $0.02 $11 $20

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22%

16%

8% 11%

9%

15%

2%

5%

5% 7%

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

38%

17% 6%

5%

8%

11%

2% 3%

6% 4%

CANADA / USA MEXICO CSA

13%

18%

10%

11% 10%

18%

3%

6%

4% 7%

17%

9%

8%

18% 12%

15%

2%

4%

4%

11%

APPENDIX B - OPERATING COSTS BREAKDOWN CONSOLIDATED

Endnotes 1. The Company has included non-GAAP performance measures, performance measures, total cash cost per gold ounce and all-in sustaining cash cost per gold ounce,

throughout this presentation. The Company reports both of these measures on a sales basis.

Total cash cost per gold ounce in the gold mining industry is a common performance measure but does not have any standardized meaning, and is a non-GAAP measure.

The Company follows the recommendations of the Gold Institute standard. All-in sustaining cash costs include by-product cash costs, sustaining capital, corporate

general & administrative expenses and exploration expense.

The Company believes that, in addition to conventional measures, prepared in accordance with GAAP, certain investors use this information to evaluate the Company’s

performance and ability to generate cash flow. Accordingly, they 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.

Production costs in 2013 are allocated to each co-product based on the ratio of actual sales volumes multiplied by budget metals prices of $1,600 per ounce of gold, $30

per ounce of silver, $3.50 per pound of copper, $0.90 per pound of lead and $0.90 per pound of zinc, rather than realized sales prices.

2. All Mineral Reserves and Mineral Resources have been calculated as at December 31, 2011 in accordance with the standards of the Canadian Institute of Mining,

Metallurgy and Petroleum and National Instrument 43-101, or the AusIMM JORC equivalent. Cautionary Note to United States Investors Concerning Estimates of

Measured, Indicated and Inferred Resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United

States Securities and Exchange Commission does not recognize them. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and as to

their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian

rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that

all or any part of Goldcorp’s Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to

assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable. Calculations have been prepared by employees of Goldcorp, its

joint venture partners or its joint venture operating companies, as applicable, under the supervision of Maryse Belanger, P. Geo., Senior Vice-President, Technical

Services. Reserve calculations 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 contained in the reserves. Goldcorp’s normal data verification procedures have been employed in connection with the calculations. For a

breakdown of Reserves and Resources by category and for a more detailed description of the key assumptions, parameters and methods used in calculating Goldcorp’s

Reserves and Resources, see Goldcorp’s Annual information Form/ Form 40-F on file with Canadian provincial securities regulatory authorities and the U.S. Securities and

Exchange Commission.

3. Goldcorp’s exploration programs are designed and conducted under the supervision of Charlie Ronkos, Senior Vice-President, Exploration of Goldcorp. For information

on geology, exploration activities generally, and drilling and analysis procedures on Goldcorp’s material properties, see Goldcorp’s Annual Information Form/Form 40-F

on file with Canadian provincial securities regulatory authorities and the U.S. Securities and Exchange Commission.

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goldcorp td jan

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