Kinross Gold Corporation · TSX:K
Kinross Gold — Q1 2026 Earnings Presentation
37 slides from Kinross Gold's earnings presentation, Apr 30, 2026
Slide 1: Delivering Value. First Quarter 2026 Results
Kinross Gold Corporation (TSX:K; NYSE: KGC) Delivering Value. First Quarter 2026 Results April 30th, 2026
Slide 2: Conference Call Participants
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Conference Call Participants Paul Andrea Claude William Geoff Rollinson Freeborough Schimper Dunford Gold Chief Executive Officer EVP & Chief Financial EVP & Chief Operating EVP & Chief Technical President Officer Officer Officer
Slide 3: Cautionary Statement on Forward-Looking Information
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Cautionary Statement on Forward-Looking Information All statements, other than statements of historical fact, contained in this presentation including, but not limited to, any information as to the future financial or operating performan
Slide 4: Q1 Highlights – on track to achieve 2026 guidance
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Q1 Highlights – on track to achieve 2026 guidance Continued Strong Performance Disciplined Capital Allocation ✓ Production on plan ✓ Excellent financial position and Free ✓ Robust cost management driving Cash Flow1 outlook record operati
Slide 5: Sustainability – Core to our business
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Sustainability – Core to our business 5
Slide 6: Strong Outlook
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Strong Outlook Production Outlook1 (Million Au eq. oz. +/- 5%) Stable production forecast1 2.0 2.0 2.0 Attractive relative cost profile Robust cash flow outlook Strengthening balance sheet Attractive return of capital Extensive pipeline
Slide 7: Financial Highlights
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Financial Highlights
Slide 8: First Quarter Results
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 First Quarter Results Q1 2026 Q1 2025 Attributable Production (Au eq. oz)1 492,563 512,088 Production Cost of Sales (per Au eq. oz. sold)2 $1,397 $1,043 Attributable Production Cost of Sales (per Au eq. oz. sold)1 $1,380 $1,038 Attributa
Slide 9: Disciplined Capital Allocation
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Disciplined Capital Allocation Strengthening Financial Position Enhanced Capital Returns • $2.2 billion of cash and cash equivalents • 2026 target to return 40% of our Free Cash Flow3 • $3.9 billion of total liquidity1 • $350 million ret
Slide 10: Guidance and Outlook
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Guidance and Outlook On Track to Meet 2026 Guidance & Strong Multi-Year Outlook Q1 2026 FY 2026 FY 2027 FY 2028 Results Guidance Guidance Guidance (+/- 5%) (+/- 5%) (+/- 5%) Attributable Production 492,563 2.0 million 2.0 million 2.0 mil
Slide 11: Fuel Sensitivities
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Fuel Sensitivities Impact on cost of Impact on full-year sales per ounce per guidance of 2026 fuel sensitivities1 $10/barrel change in $100/barrel from oil price April 1 forward Direct crude oil impact on refined fuel products $3/oz (202
Slide 12: Operational Highlights
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Operational Highlights
Slide 13: Our Safety Culture – Safeground
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Our Safety Culture – Safeground Equipping Our People With The Right Skills: • Practical Leadership Training, and • Prevention of High Potential Incidents 13
Slide 14: Paracatu – Outstanding Quarter
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Paracatu – Outstanding Quarter • Largest producer in Q1 driving substantial free cash flow • Record recoveries driven by continuous improvement • CIL circuit enhancements and gravity circuit implementation • On track to meet 2026 guidanc
Slide 15: Tasiast – Strong Quarter
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Tasiast – Strong Quarter • Increased production and lower cost of sales over prior quarter • Due to higher grades with consistent recoveries • 23% of site power provided by the solar facility • On track to meet 2026 guidance FY26 Operati
Slide 16: La Coipa – Delivering on plan
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 La Coipa – Delivering on plan • Production was according to plan • Successfully completed 16-day planned mill maintenance shutdown • Improvement initiatives to increase mill reliability • Higher grades from Phase 7 Ore expected in Q2 and
Slide 17: USA
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 USA Fort Knox, Alaska1 Bald Mountain, Nevada Round Mountain, Nevada United States Total Q1/26 FY26 Guidance2 Attributable3 production 147,755 685,000 (Au eq. oz.) Production cost of sales ($/oz.)4 $2,005 - Attributable3 production cost o
Slide 18: USA – Asset Highlights
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 USA – Asset Highlights Fort Knox, Alaska1 Bald Mountain, Nevada Round Mountain, Nevada • Strong contribution from both Fort • Production decreased over prior • Production decreased over prior Knox and Manh Choh, increasing quarter due to
Slide 19: Projects & Exploration Highlights
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Projects & Exploration Highlights
Slide 20: Significant Resource Optionality
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Significant Resource Optionality Significant resource base for potential extensions at existing operations New growth projects that potentially contribute to the production profile through the end of the decade and beyond $2,000/oz Au $2
Slide 21: US Projects Update – Excellent Progress
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 US Projects Update – Excellent Progress Round Mt. Phase X Bald Mt. Redbird Curlew Nevada, USA Nevada, USA Washington, USA • Received all major operational • Mining at Redbird advancing • Significant progress on project permits ahead of s
Slide 22: Curlew – Positive Exploration Results
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Curlew – Positive Exploration Results Paleo-Surface N. Stealth Q1 2026 12.5 m @ 7.0 g/t Au N. Stealth Q1 2026 Productive 4.5 m @ 8.5 g/t Au Horizon RR-1168 Q3 2023 RR Q1 2026 14.2 m @ 16.5 g/t Au 2.4 m @ 9.2 g/t Au RR-1442 Q3 2024 2.4 m
Slide 23: Growth Projects – Production in the 2030s
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Growth Projects – Production in the 2030s Bald Mountain Top Pit Fort Knox Phase 11 Layback Next Layback • Potential to (Phase 11) extend Previously Next Top Layback • Meaningful Previously Mined production in the Mined Top Pit FK Pit ext
Slide 24: Great Bear Update
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Great Bear Update On schedule for first production in late 2029, subject to Truck shop Warehouse permitting PERMITTING: Advanced Exploration (“AEX”): • Received all remaining permits Main Project: Primary crusher Dome - • Federal and Pro
Slide 25: Great Bear Exploration
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Great Bear Exploration Regional Exploration Where we see opportunity for growth • Positive results validating a view of potential for a • Extensions along Strike multi-decade high grade operation • Red Lake style mineralization • Zones p
Slide 26: 2026 Milestones
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 2026 Milestones ✓ Ongoing return of capital ✓ Further strengthening the balance sheet ✓ Advancing our US project pipeline ✓ Commencement of Great Bear AEX decline ✓ Lobo-Marte: project update ✓ Continued progression of strong resource in
Slide 27: Delivering Shareholder Value
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Delivering Shareholder Value ✓ Strong production outlook ✓ Attractive relative cost position ✓ Generating significant cash flow ✓ Investment grade balance sheet ✓ Attractive dividend and share buyback ✓ Growing Net Asset Value and Per Sh
Slide 28: Appendix
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Appendix
Slide 29: Endnotes
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 Endnotes 1) Kinross’ outlook, which is reported on an attributable basis including Kinross’ share of Manh Choh (70%), represents forward-looking information and users are cautioned that actual results may vary. Please refer to the Cautio
Slide 30: 2026 Guidance Summary – Appendix A
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 2026 Guidance Summary1 – Appendix A Attributable2 Production Guidance Annual attributable2 gold equivalent production guidance (+/- 5%) 2026 2.0 million oz. 2027 2.0 million oz. 2028 2.0 million oz. Attributable2 Production and Cost Guid
Slide 31: 2026 Guidance Summary – Appendix A
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 2026 Guidance Summary1 – Appendix A Attributable Capital Expenditures2 Guidance Breakdown Forecast 2026 Forecast 2026 Total 2026 2025 2025 2025 2025 Sustaining Non-Sustaining Forecast Sustaining Non-Sustaining Total Total Country Capital
Slide 32: 2026 Guidance Summary – Appendix A
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 2026 Guidance Summary1 – Appendix A Material assumptions used to forecast 2026 guidance, most notably relating to production cost of sales, are as follows: • a gold price of $4,500 per ounce; • a silver price of $65 per ounce; • an oil p
Slide 33: Mineral Reserve and Mineral Resource Statement – Appendix B
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT – Appendix B 33
Slide 34: Mineral Reserve and Mineral Resource Statement – Appendix B
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT – Appendix B 34
Slide 35: Mineral Reserve and Mineral Resource Statement – Appendix B
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT – Appendix B 35
Slide 36: Mineral Reserve and Mineral Resource Statement Notes – Appendix B
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT NOTES – Appendix B 1) Unless otherwise noted, the Company's mineral reserves are estimated using appropriate cut-off grades based on an assumed gold price of $2,000 per ounce and a silver pr
Slide 37: www.kinross.com Investor Relations
Kinross Gold Corporation (TSX:K; NYSE: KGC) First Quarter 2026 www.kinross.com Kinross Gold Corporation (TSX: K; NYSE: KGC) Investor Relations (+1) 416-365-2854 InvestorRelations@Kinross.com