Kinross Gold Corporation · TSX:K
Kinross Gold — Merger or Acquisition (December 2021)
19 slides from Kinross Gold's merger presentation, Dec 8, 2021
Slide 1: Kinross to acquire Great Bear Resources
Delivering Value. Kinross to acquire Great Bear Resources Flagship Dixie project, a top tier strategic asset in Northern Ontario December 8, 2021
Slide 2: Cautionary Statement on Forward-Looking Information
Kinross to acquire Great Bear Resources December 8, 2021 Cautionary Statement on Forward-Looking Information All statements, other than statements of historical fact, contained in this presentation, including any information as to the future financial or operating performance of Kinross Gold Corpora
Slide 3: Acquisition of Great Bear Resources
Acquisition of Great Bear Resources Dixie project has potential to support a large, long-life mine complex in one of Canada’s most prolific mining districts Top Tier Deposit Significant Exploration Upside Top Mining Jurisdiction Exceptional Outlook Ideal Portfolio Fit 3
Slide 4: Transaction Overview
Kinross to acquire Great Bear Resources December 8, 2021 Transaction Overview Proposed • Kinross to acquire 100% of Great Bear common shares Transaction • Plan of Arrangement • $1.4 billion upfront: C$29.00 per Great Bear share payable at the election of Great Bear shareholders in cash or common sha
Slide 5: Strong Strategic Rationale
Kinross to acquire Great Bear Resources December 8, 2021 Strong Strategic Rationale Potential to support a large, long-life mine complex and bolster Kinross’ long-term Top Tier production outlook Deposit • Kinross envisions a mine complex with an initial quality, high-grade, open pit mine • Potentia
Slide 6: Excellent Opportunity for Great Bear Stakeholders
Kinross to acquire Great Bear Resources December 8, 2021 Excellent Opportunity for Great Bear Stakeholders Acquisition enhances the future for Dixie • Kinross will be an exceptional Great Bear Shareholders steward for Dixie Benefit From: • Kinross has technical expertise, Compelling premium develo
Slide 7: Advancing Dixie
Kinross to acquire Great Bear Resources December 8, 2021 Advancing Dixie Pursuing three objectives in parallel Extensive exploration Exploration beyond the Opportunistically exploring program at LP Fault zone, upper portion of Central area high-grade, Red Lake-style including 200,000 m of of LP Faul
Slide 8: Liquidity and Financial Flexibility
Kinross to acquire Great Bear Resources December 8, 2021 Liquidity and Financial Flexibility Investment grade balance sheet supports the transaction Liquidity Position • Ability to finance the cash portion with existing liquidity o Cash of $586 million and $1.5 billion revolving credit facility as o
Slide 9: Committed to Responsible Mining
Kinross to acquire Great Bear Resources December 8, 2021 Committed to Responsible Mining Do No Harm strategy minimizes effects on the environment and brings positive and sustainable benefits to the community • Project located in low-carbon energy grid to support GHG reduction strategy • Electric/hyd
Slide 10: Dixie Project Location
Kinross to acquire Great Bear Resources December 8, 2021 Dixie Project Location World-renowned Red Lake mining district in Ontario, Canada • Located 25 kilometres southeast of the town of Red Lake, Ontario • Comprises 91 square kilometres Town of Red Lake of contiguous claims • A paved highway and p
Slide 11: Principal Deposit Overview
Kinross to acquire Great Bear Resources December 8, 2021 Principal Deposit Overview LP fault has been confirmed through drill testing along 10.8 km of strike length and remains open beyond this. Drill results also indicate the presence of robust mineralization at depths below 750 m. NORTHWEST Princi
Slide 12: Grade Thickness Sections
Kinross to acquire Great Bear Resources December 8, 2021 Grade Thickness Sections LP is comprised of 16 highly continuous bulk and 5 high-grade mineralized domains with attractive grades and true thickness NORTHWEST Central Cross-section Central Bulk Long-section SOUTHEAST Central Cross-section Cent
Slide 13: Similarities to Hemlo
Kinross to acquire Great Bear Resources December 8, 2021 Similarities to Hemlo LP Fault is comprised of stacked moderate to high-grade lenses analogous to Hemlo Hemlo – History & Description • Starting in 1985, three mines were independently developed at Hemlo with them consolidating under one owner
Slide 14: Upside Potential through Exploration
Kinross to acquire Great Bear Resources December 8, 2021 Upside Potential through Exploration Attractive nearby drill tested targets with the potential to add value beyond the initial LP Fault open pit. • Stacked moderate and high-grade gold mineralized lenses within broad envelope LP Fault zone 10.
Slide 15: Acquisition of Great Bear Resources
Acquisition of Great Bear Resources Dixie project has potential to support a large, long-life mine complex in one of Canada’s most prolific mining districts Top Tier Deposit Significant Exploration Upside Top Mining Jurisdiction Exceptional Outlook Ideal Portfolio Fit 1 5
Slide 16: Appendix
Appendix KINROSS | GREAT 4 BEAR
Slide 17: Located in a Tier I Mining Jurisdiction
Kinross to acquire Great Bear Resources December 8, 2021 Located in a Tier I Mining Jurisdiction A premier mining jurisdiction that enhances Kinross’ geopolitical footprint Ontario, Canada Red Lake Mining Camp • Canada ranks as the second most attractive • >100 years of gold production region in the
Slide 18: Key Transaction Metrics
Kinross to acquire Great Bear Resources December 8, 2021 Key Transaction Metrics Maximum Share Maximum Cash Consideration Consideration Cash Consideration 60% 75% Share Consideration 40% 25% Total Consideration to Great Bear 1 C$/ GBR sh $29.00 $29.00 Total Consideration to Great Bear 2,3 US$M $1,42
Slide 19: July 31, 2019
| KINROSS | GREAT 8 BEAR RES OURCES