Kinross Gold Corporation · TSX:K

Kinross Gold — Cormark Securities Annual Gold Conference 2008

16 slides from Kinross Gold's conference presentation, Jan 16, 2008

1. Slide 1: Cormark Securities Annual Gold Conference

   Kinross Gold Corporation January 2008 Cormark Securities Annual Gold Conference January 16, 2008 DELIVERING DISCIPLINED GROWTH 1 The Kinross Difference on ucti d g Pro R isin De Increased clin ing Margins, Cash Flow Co s ts & Leverage to Gold Price 2

2. Slide 2: Cautionary Statements

   Kinross Gold Corporation January 2008 Cautionary Statements All statements, other than statements of historical fact, contained or incorporated by reference in this presentation, including any information as to the future financial or operating performance of Kinross, constitute “forward-looking sta

3. Slide 3: Focused Portfolio

   Kinross Gold Corporation January 2008 Focused Portfolio Julietta Kupol Fort Knox Kettle River Round Mountain Crixas Paracatu La Coipa Maricunga 5 Consolidating the Kinross portfolio(3) ƒ Recently closed 3-part asset swap transaction with Goldcorp ƒ Kinross sold two Canadian JVs to Goldcorp – 32% int

4. Slide 4: Rationalizing the portfolio

   Kinross Gold Corporation January 2008 Rationalizing the portfolio(3) Kinross (end of ’06) Kinross now Operated Operated Paracatu Paracatu Maricunga Maricunga Fort Knox Kupol Round Mountain Fort Knox Kettle River Round Mountain Kettle River Non-operated La Coipa Julietta Porcupine JV La Coipa Non-ope

5. Slide 5: Reserve Growth History

   Kinross Gold Corporation January 2008 Kinross Reserve Growth History Proven and Probable Reserves (2,3) From 2002 to now: ƒ Reserves have grown by ~40 million ozs ƒ Reserves per Kinross share have grown by 65% Reserve Growth 43 28 25 21 14 5 2002 2003 2004 2005 2006 Current (2) Refer to final slide

6. Slide 6: Superior Production Growth Profile

   Kinross Gold Corporation January 2008 Superior Production Growth Profile Mineral Production(1) (mm oz Au eq.) Growth ~60% 2.6 – 2.7 40% of 2.1 – 2.2 production 1.6 from new low-cost projects(4) 2007E 2008E 2009E (1) Refer to final slide footnote #1. Note: Production guidance has not been adjusted to

7. Slide 7: Expanding Margins

   Kinross Gold Corporation January 2008 Expanding Margins(4) The increase in gold prices have meant higher margins. CoS Margin is up 199%, while gold is up 118% (FY’02 vs. first nine months of 2007(5)) $314 $279 Cost of Sales Margin up 199% $170 $161 $135 $105 FY '02 FY '03 FY '04 FY '05 FY '06 '07 (t

8. Slide 8: Strong Financial Platform

   Kinross Gold Corporation January 2008 Strong Financial Platform ƒ Cash at September 30, 2007 of $293 million ƒ No exposure to asset-backed commercial paper ƒ Building development projects to grow the business – ‘07e Capital expenditures(6): $660 million – ’07e Exploration and business development: $

9. Slide 9: Expanding Paracatu

   Kinross Gold Corporation January 2008 Expanding Paracatu… Aerial photograph taken August 2007 17 Expanding Paracatu… Floatation and grinding area: December 2007 SAG mill progress: December 2007 Main substation: December 2007 General view: December 2007 18

10. Slide 10: Expanding Paracatu

    Kinross Gold Corporation January 2008 Expanding Paracatu… ƒ Expansion to increase throughput to 60 mtpa – ~557,000 ozs. of annual average production (first 5 years) ƒ On schedule for start-up in mid 2008 ƒ Physical construction 57% complete at the end of Q3’07(11) – All major equipment received at s

11. Slide 11: Building Kupol

    Kinross Gold Corporation January 2008 Building Kupol… Fuel farm – December 2007 Refinery area: December 2007 Power plant: December 2007 Leach tank fabrication – December 2007 21 Building Kupol… ƒ Construction of Kinross’ newest mine – Open pit and underground mining, processing 3,000 tpd – ~ 413,000

12. Slide 12: Expanded Project Pipeline

    Kinross Gold Corporation January 2008 Expanded Project Pipeline Exploration Pre-Feasibility Feasibility Construction Production Kupol Paracatu Expansion Buckhorn: Kettle River Pancho: Maricunga Fort Knox Heap Leach Fort Knox Phase 7 Cerro Casale Gold Hill: Round Mountain Ladera Farellon: La Coipa Gu

13. Slide 13: Price / Cash Flow Per Share

    Kinross Gold Corporation January 2008 Price / Cash Flow Per Share 21.8 20.7 19.7 15.9 14.9 14.0 14.1 11.7 GG KGC ABX NEM GG ABX KGC NEM 2008 2009 Source: Bloomberg estimates – January 11, 2008 25 2007 Share Performance Kinross 55% Gold Spot $/oz 31% XAU Index 23% Source: Bloomberg L.P. 26

14. Slide 14: Goals & Objectives

    Kinross Gold Corporation January 2008 Kinross Goals & Objectives – 2007 Deliver Asset Best Talent, Building Blocks Drive Future Value Performance Best Teams for the Future 9 9 Enhance Financial & Optimize Future Industry Leading in EH&S Attract & Retain the Best Management Systems Development Projec

15. Slide 15: Footnotes

    Kinross Gold Corporation January 2008 The Kinross Difference ion d uct g Pro isin R De Increased clin ing Margins, Cash Flow Co s ts & Leverage to Gold Price 29 Footnotes (1) Kinross production based on Company guidance (see November 7, 2007 press release). (2) For further information, please refer

16. Slide 16: Kinross Gold Corporation

    Kinross Gold Corporation January 2008 31

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