THIRD QUARTER 2014 CONFERENCE CALL October 30, 2014

MANAGEMENT PARTICIPANTS

2

Chuck Jeannes

President and

Chief Executive Officer

Lindsay Hall

EVP & Chief Financial

Officer

George Burns

EVP & Chief Operating

Officer

Russell Ball

EVP Capital Management

FORWARD LOOKING STATEMENTS

3

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.

Third Quarter 2014 Highlights EXECUTING ON PLAN

4

• Cerro Negro and Éléonore achieve first gold production

• Gold productiona of 651,700 ounces

• All-in sustaining costsa,d of $1,066/oz

• Adjusted revenuesa of $1.1B

• Adjusted net earningsa,h of $70M, or $0.09/share

• Adjusted operating cash flowa,e of $399M, or $0.49/share

5

(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 Discipline POSITIVE MOMENTUM THROUGH GROWTH AND LOWER COSTS

-

200,000

400,000

600,000

800,000

1,000,000

1,200,000

Q1A Q2A Q3A Q4E

969,700 – 1,119,700

679,900 648,700 651,700

Ounces

2014E Guidance (1)

Updated (2)

Gold production (oz) 2.95M - 3.10M

Cash costs $ / oz

All-in sustaining $950 - $1,000

By-product $550 - $600

Co-product $650 - $700

Capital expenditures $2.3B - $2.4B

Exploration expenditures(3) $190M

Corporate administration $185M

Depreciation / oz $350

Tax rate 26%

Production by Quarter

$0

$1,200

$2,400

$3,600

$4,800

$6,000

$7,200

0

25

50

75

100

125

150

199

0

199

1

199

2

199

3

199

4

199

5

199

6

199

7

199

8

199

9

200

0

200

1

200

2

200

3

200

4

200

5

200

6

200

7

200

8

200

9

201

0

201

1

201

2

201

3

70

75

80

85

90

95

100

200

3

200

4

200

5

200

6

200

7

200

8

200

9

201

0

201

1

201

2

201

3

201

4

201

5

201

6

201

7

201

8

201

9

202

0

202

1

202

2

An

nu

al

Pro

du

cti

on

(M

oz)

Peak Gold PEAK PRODUCTION IS EXPECTED ~2015

6

• Gold market forecasters are expecting peak production in ~2015

• This coincides with a ~20 year development cycle from peak discovery

Peak

Production

Source: Consensus estimates. Includes CPM Group, GFMS, and Metals Focus

+ 20 years average

development time

Source: SNL Metals Economics Group

“PEAK GOLD”

Peak

Discovery

3-y

ear

run

nin

g av

erag

e go

ld d

isco

vere

d (

Mo

z)

Gra

ssro

ots

+ 7

5%

of

late

-sta

ge e

xplo

rati

on

bu

dge

ts (

US$

M)

Financial Discipline PEER-LEADING DIVIDEND PAYER

7

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

0.00

0.02

0.04

0.06

0.08

0.10

0.12

0.14

0.16

Q1'10 Q1'11 Q1'12 Q1'13 Q1'14

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

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

0.0%

0.5%

1.0% 1.1%

1.6%

2.8%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

Kinross Newmont Agnico Yamana Barrick Goldcorp

OPERATIONAL

HIGHLIGHTS

8

Third Quarter 2014 – Operational Highlights SOLID PERFORMANCE

9

• Gold production of 651,700 ounces

• All-in sustaining costs of $1,066 per ounce

• El Sauzal pit wall instability accelerates closure plan

• Red Lake completes de-stress activities for 2014

increasing stope availability

• Pueblo Viejo steadily increasing

• Cerro Negro and Éléonore transition to operating mines

RED LAKE MINE

10

o Third quarter 2014 • Gold production: 99,600ozs

• AISC: $955/oz

• Completed de-stress activities for

2014

o Integration plan for Cochenour

underway

o HG Young target • Five drills from surface

• Numerous high grade intercepts

• Rehabilitating existing infrastructure

for underground access

Operational Update

INTEGRATION PLAN ADVANCING

Scientific and technical information pertaining to Red Lake Gold Mines was reviewed and approved by Chris Osiowy, P.GEO, Manager of

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

Operational Update

PEÑASQUITO MINE

11

DELIVERING VALUE FROM MEXICO‘S LARGEST GOLD MINE

o Third quarter 2014 • Gold production: 129,500ozs

• AISC: $1,142/oz

o Northern Well Field project on track

for 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

PROJECT

HIGHLIGHTS

12

Project Update

ÉLÉONORE

13

FIRST GOLD POURED ON OCTOBER 1, 2014

o Production • First gold: October 1, 2014

• 2014E: 40-60k ozs

• Commercial production: Q1 2015

• 575-625k ozs annually (1)

o Construction • Overall EPCM: 99%

• Initial Capital: $1.8-1.9B

o Mining • Ramp at depth of 788m

• Production shaft at depth of 975m

• Surface stockpile ~244k tonnes

o Exploration focus • Lower Mine: In-fill and exploration

(1) Upon ramp-up to full capacity in 2018

Éléonore

DELIVERED FIRST GOLD ON SCHEDULE

Q3 2014

Process Plant

Commissioned

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

14

Oct 1, 2014

First Gold

(Gravity)

Dec. 31, 2014

Mine & Mill

Sustain

3,500 tpd

Q1 2015

Commercial

Production

H1 2018

Mine & Mill

Sustain

7,000 tpd

Éléonore

STATUS/UPDATE

15

Chemical Storage Building Construction Celebrating Success – First Gold

First 50T Haul Truck for Tailings Received

First Tailings Deposit at Tailings Facility

Project Update

CERRO NEGRO

16

RAMPING UP TO COMMERCIAL PRODUCTION IN Q4

o Production • First gold: July 25, 2014

• Q3 prod: 19K ozs Au, 234k ozs Ag

• Commercial production: Q4 2014

• 2014E: 130-180k range

o Construction • Permanent power expected Q4 2014

• Overall EPCM: ~90% 1

• Initial capital: $1.65-1.7B

o Mining: Development • 2,331 metres in Q3

• 21,751 metres at September 30

o Mining: Production • 93k tonnes in Q3

• 625k tonnes at September 30

1 Includes initial capital scope deferred to 2015

Cerro Negro ON SCHEDULE FOR COMMERCIAL PRODUCTION IN Q4

July 25, 2014

First Gold

Q4 2014

Permanent

Power

Q4 2014

Commercial

Production

T R A N S I T I O N T O O P E R AT I O N S W E L L U N D E R WAY F I R S T G O L D P O U R E D O N J U LY 2 5 , 2 0 1 4

17

July 15, 2014

Plant Startup

Dec. 31, 2013

285kt

stockpile

Cerro Negro

STATUS/UPDATE

18

Warehouse Coarse Ore Stockpile

Main Substation / Switchyard Lab Foundation

19

o Production • Development ore: Q4 2014

• Production ore: Q3 2015

• Commercial production: H2 2016

• Focus on integrating with Red Lake

o Construction • Haulage drift complete

• Ramp to 3540 foot level complete

• Initial capital: ~$496M

o Initial capital ~$496M

o Exploration focus • Drilling Bruce Channel from haulage

drift (currently eight drills, nine drills

expected by year-end)

Project Update

COCHENOUR, RED LAKE

COCHENOUR PROJECT

Cochenour

DEVELOPMENT ON SCHEDULE

March 13, 2014

Shaft Sinking

Complete

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

Q3 2014

Haulage drift

Complete

Q3 2015

First

Production Ore

H2 2016

Commercial

Production

Q4 2014

Development

Ore

20

FINANCIAL

HIGHLIGHTS

21

22

Q3 2014 Q2 2014 Q3 2013

Gold production (oz)* 651,700 648,700 637,100

Gold sales (oz) 641,400 639,500 652,100

Cash costs by-product ($/oz) (b) 597 470 551

Cash costs co-product ($/oz) (b) (c) 682 643 706

All-in sustaining costs ($/oz) (d) 1,066 852 995

Realized gold price ($/oz) 1,266 1,296 1,339

(*) includes Cerro Negro pre-commercial production ounces of 19,000 ounces

Adjusted net earnings ($m) (h) 70 164 190

Adjusted net earnings ($ per share) (h) $0.09 $0.20 $0.23

Non-GAAP Measures Presented on Goldcorp Share Basis(a)

Q3 2014 HIGHLIGHTS

23

($ millions except per share amounts) Q3 2014 Q2 2014 Q3 2013

Net earnings (loss) attributable to shareholders of

Goldcorp ($44) $181 $5

Earnings (loss) per share ($0.05) $0.22 $0.01

Unrealized foreign exchange losses (gains) on deferred

income tax 85 (24) 9

Losses on dispositions of Marigold, net of tax - 21 -

Revisions in estimates and liabilities on reclamation and

closure costs on closed mine sites, net of tax - 11 -

El Sauzal impairment, net of tax 13 - -

PV SLA Amendment - - 161

Losses (gains) on derivatives, net of tax 14 (10) -

Other 2 (15) 15

Adjusted net earnings attributable to shareholders of

Goldcorp, including discontinued operation (h) $70 $164 $190

Adjusted net earnings per share, including discontinued

operation (h) $0.09 $0.20 $0.23

Non-GAAP Measures Presented on Goldcorp Share Basis(a)

Q3 2014 ADJUSTED EARNINGS

24

3.6 – 3.8 3.7 – 4.0

3.5 – 3.8 3.5 – 3.8

2.7

OTHER

Q3 2014 TOTAL $1,066 per oz*

SUSTAINING CAPEX (f)

$329 G&A(g)

$98 $19

Q2 2014 TOTAL $852 per oz

$23

EXPLORATION

OPERATING COST (b)

$470 SUSTAINING CAPEX (f)

$255

G&A(g)

$92 $26

EXPLORATION

$9

OPERATING COST

OPERATING COST (b)

$597

Other

Other

(*) Excluding the impact of Peñasquito stockpile non-cash reduction in carrying value of $64/oz, all in sustaining costs and by-product

costs would be $1,002/oz and $533/oz, respectively for Q3 2014.

$64 $533 Other

Peñasquito

stockpile

Non-GAAP Measures Presented on Goldcorp Share Basis(a)

ALL-IN SUSTAINING COSTS(d)

25

Q3 2014 Q2 2014 Q3 2013

Adjusted operating cash flows ($m) (e) $399 $376 $375

Adjusted operating cash flows ($ per share) (e) $0.49 $0.46 $0.46

Liquidity Position ($ millions) Sep 30 2014

Cash and cash equivalents $376

Money market investments 52

Undrawn revolver 1,500

$1,928

Q3 2014 Cash Flows and Liquidity Position

GOLDCORP ADVANTAGE

Quality

Growth

Safe,

Profitable

Production

Peer-

Leading

Balance

Sheet

Responsible

Mining

Practices

Gold

Focused

Low

Political

Risk

26

SUPERIOR

INVESTMENT

PROPOSITION

27

a) The Company has included non-GAAP performance measures on an attributable (or Goldcorp’s share) basis throughout this

document. 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.

b) Total cash costs, by-product and co-product, per gold ounce is a non-GAAP performance measure. In the gold mining industry,

total cash costs is a common performance measure but does not have any standardized meaning. The Company follows the

recommendations of the Gold Institute Production Cost Standard (refer to page 2 of the Q3 2014 MD&A for further information on

the Gold Institute). The Company believes these measures provide investors and analysts with useful information about the

Company’s underlying cash costs of operations and the impact of by-product credits on the Company’s cost structure and is a

relevant metric used to understand the Company’s operating profitability and ability to generate cash flow. When deriving the

production cash costs associated with an ounce of gold, the Company includes by-product credits as the Company considers that

the cost to produce the gold is reduced as a result of the by-product sales incidental to the gold production process, thereby

allowing the Company’s management and other stakeholders to assess the net costs of gold production. The Company and certain

investors use this information to evaluate the Company’s performance and ability to generate cash flow. 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. Total cash costs on a by-product basis are calculated by deducting Goldcorp’s share of by-product

silver, copper, lead and zinc sales revenues from Goldcorp’s share of production costs. Refer to page 39 of the Q3 2014 MD&A for

a calculation of total cash cost per gold ounce.

c) Total cash costs per gold ounce on a co-product basis is calculated by allocating Goldcorp’s share of production costs to each co-

product (Alumbrera (copper); Marlin (silver); Pueblo Viejo (silver); Peñasquito (silver, lead and zinc)) based on the ratio of actual

sales volumes multiplied by budget metal prices, as compared to realized sales prices. The Company uses budget prices to

eliminate price volatility and improve co-product cash cost reporting comparability between periods (refer to page 2 of the Q3 2014

MD&A for budget metal prices use).

FOOTNOTES

28

d) The Company, in conjunction with an initiative undertaken within the gold mining industry, has adopted all-in sustaining cost and

all-in cost non-GAAP performance measures that the Company believes more fully defines the total costs associated with

producing gold; however, these performance measures have no 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. The Company reports these measures on a gold ounces sold basis. Refer to page 41 of the Q3 2014

MD&A for a reconciliation of all-in sustaining costs.

e) Adjusted operating cash flows is a non-GAAP performance measures which comprise the Company’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 44 for a

reconciliation of adjusted operating cash flows before working capital changes to reported net cash provided by operating

activities.

f) Sustaining capital expenditures are defined as those expenditures which do not increase annual gold ounce production at a mine

site and excludes all expenditures at the Company’s projects and certain expenditures at the Company’s operating sites which are

deemed expansionary in nature. Refer to pages 41 and 42 of the Q3 2014 MD&A for a reconciliation of sustaining capital

expenditures.

g) Including share-based compensation expense.

h) Adjusted net earnings and adjusted net earnings per share are non-GAAP performance measures. 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. 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 43 of the Q3 2014

MD&A for a reconciliation of adjusted net earnings to reported net earnings attributable to shareholders of Goldcorp.

FOOTNOTES