Vancouver, February 14, 2018 – GOLDCORP INC. (TSX: G, NYSE: GG) (“Goldcorp” or the “Company”) is pleased to report its fourth quarter and full year 2017 results.
Fourth Quarter Highlights
• Net earnings were $242 million, or $0.28 per share, compared to net earnings of $101 million, or $0.12 per share, for the fourth quarter of 2016. Operating cash flows for the fourth quarter of 2017 were $511 million compared to $239 million for the same period in the prior year. Adjusted operating cash flows were $401 million(1) for the fourth quarter of 2017 compared to $306 million for the same period in the prior year.
• Gold production of 646,000 ounces at all-in sustaining costs ("AISC") of $870 per ounce, compared to 761,000 ounces at AISC of $747 per ounce for the fourth quarter of 2016(1). Gold production in 2017 exceeded the midpoint of the Company's gold production guidance of 2.5 million ounces, while AISC of $824 per ounce for 2017 was in line with the Company's improved midpoint guidance of $825(2) per ounce, reflecting the progress the Company has made on its sustainable efficiency program.
• Program to implement $250 million of sustainable annual efficiencies by the middle of 2018 is on track with nearly $200 million achieved in 2017 across the Company's portfolio. More than 100% of the $250 million of efficiencies have been identified, with the program likely to be extended and the efficiency target increased, after the Company achieves its current target.
• Solid reserve growth and project execution enhances confidence in the Company's 20/20/20 growth plan. An increase in proven and probable gold mineral reserves to 53.5 million ounces, plus strong project delivery of expansions at Peñasquito, Musselwhite and Porcupine (Borden) underpin our plan for a 20% increase in gold production, a 20% increase in gold reserves and a 20% reduction in AISC by 2021, while delivering increasing cash flows over the next four years. The Company also launched 'Beyond 20/20', investing in its long-term portfolio, including the Century, NuevaUnión and Norte Abierto projects, to continue to grow low-cost gold production from the Company's growing gold mineral reserves.
Q4-17
TSX: G NYSE: GG All amounts in US Dollars
GOLDCORP INC. Suite 3400 – 666 Burrard Street, Vancouver, BC V6C 2X8 T: (604) 696-3000 F: (604) 696-3001 www.goldcorp.com 2
FINANCIAL AND OPERATING RESULTS ($ millions, except where indicated) Three months ended December 31 Year ended December 31 2017 2016 2017 2016
Gold production(1) (ounces) 646,000 761,000 2,569,000 2,873,000
Gold sales(1) (ounces) 633,000 768,000 2,534,000 2,869,000
Operating cash flows $511 $239 $1,211 $799
Adjusted operating cash flows(1),(2) $401 $306 $1,344 $1,241
Net earnings $242 $101 $658 $162
Net earnings per share $0.28 $0.12 $0.76 $0.19
By-product cash costs(1),(3) (per ounce) $462 $481 $499 $573
AISC(1),(3) (per ounce) $870 $747 $824 $856
Net earnings and net earnings per share for the fourth quarter of 2017 were affected by, among other things, the following non-cash or other items that management believes are not reflective of the performance of the underlying operations (items are denoted as having (increased)/decreased net earnings and net earnings per share in the three and twelve months ended December 31, 2017): Three months ended December 31, 2017 Year ended December 31, 2017 ($ millions, after tax) $/share ($ millions, after tax) $/share
Deferred tax recovery on Argentinian tax reform ($156) ($0.18) ($156) ($0.18)
Non-cash foreign exchange expense (recovery) on deferred tax balances
$63 $0.07 ($83) ($0.10)
Net gain on disposition of mining interests ($27) ($0.03) ($21) ($0.02)
Net reversal of impairment ($23) ($0.03) ($23) ($0.03)
Gain from reduction in provision for Alumbrera’s reclamation costs
($12) ($0.01) ($38) ($0.04)
Please refer to the Company’s financial statements, related notes and accompanying Management’s Discussion and Analysis for a full review of its operations and projects. This can be accessed by clicking on this link: Q4-2017 MD&A and Financial Statements.

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