Slide 1: Delivering Value. Third Quarter 2025 Results
Kinross Gold Corporation (NYSE: KGC; TSX: K) Delivering Value. Third Quarter 2025 Results November 5th, 2025
Slide 2: Conference Call Participants
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Conference Call Participants Paul Andrea Claude William Geoff Rollinson Freeborough Schimper Dunford Gold Chief Executive Officer EVP & Chief Financial EVP & Chief Operating SVP, Technical President Officer Officer Services
Slide 3: Cautionary Statement on Forward-Looking Information
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 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 performa
Slide 4: Q3 Highlights – on track to achieve 2025 guidance
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Q3 Highlights – on track to achieve 2025 guidance Strong Q3 Performance Disciplined Capital Allocation ✓ Production on plan ✓ Strong financial position and cash flow ✓ Strong cost management driving outlook substantial operating margins
Slide 5: Sustainability – Core to our Business
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Sustainability – Core to our Business Tasiast, Mauritania Paracatu, Brazil Bald Mountain, Nevada • Developed new school facilities in • Tailings facilities received top-level • Received Nevada Excellence in the Inchiri region AA classif
Slide 6: Strong Outlook
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Strong Outlook Production Outlook(1) (Million Au eq. oz. +/- 5%) Stable multi-year production forecast(1) 2.0 2.0 2.0 Robust pipeline of project opportunities Strong cash flow outlook Strengthened balance sheet and financial position At
Slide 7: Financial Highlights
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Financial Highlights
Slide 8: Third Quarter Results
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Third Quarter Results Prior Comparable Period Q3 2025 YTD 2025 Q3 2024 YTD 2024 Results Results Results Results Attributable Production (Au eq. oz)(1) 503,862 1,528,524 564,106 1,626,843 Production Cost of Sales (per Au eq. oz. sold)(2)
Slide 9: Disciplined Capital Allocation
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Disciplined Capital Allocation Strengthening Financial Position Enhanced Capital Returns • $1.7 billion of cash and cash equivalents with ~$3.4 • $515 million returned to shareholders through share billion of total liquidity(1) buybacks
Slide 10: Guidance and Outlook
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Guidance and Outlook On Track to Meet 2025 Guidance & Strong Multi-Year Outlook Q3 YTD 2025 FY 2025 FY 2026 FY 2027 Results Guidance Guidance Guidance (+/- 5%) (+/- 5%) (+/- 5%) Attributable Production 1,528,524 2.0 million 2.0 million
Slide 11: Operational Highlights
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Operational Highlights
Slide 12: Our Safety Culture – Safeground
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Our Safety Culture – Safeground Critical Risk Management Training Conducted: • Five-day training sessions • Prioritizes Value Based Leadership • Positive response from front-line workforce Training Value Based Leadership In-field Intera
Slide 13: Paracatu – Steady Performance in Q3
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Paracatu – Steady Performance in Q3 • Largest producer in Q3 driving substantial free cash flow • Strong mining rates • Higher mill grades with continued strong recoveries • Cost of sales decreased over prior quarter • On track to meet
Slide 14: Tasiast – On Track to Deliver FY 2025 Guidance
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Tasiast – On Track to Deliver FY 2025 Guidance • Continued to deliver planned production in Q3 • Strong mill performance and recoveries • Satellite mining ramped up in Q3 at the Fennec satellite pit to the north • On track to meet 2025
Slide 15: La Coipa – On Track to Meet Production Guidance
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 La Coipa – On Track to Meet Production Guidance • Improved production and cost performance in Q3 • Higher grades as mining transitioned to Phase 7 ore in Q3 • Production expected to be stronger in Q4 as mining continues through Phase 7
Slide 16: USA – On Track to Meet FY 2025 Guidance
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 USA – On Track to Meet FY 2025 Guidance Fort Knox, Alaska(1) Bald Mountain, Nevada Round Mountain, Nevada United States Total Q3/25 Q3 YTD FY25 Guidance(2) Attributable(3) production 174,564 539,999 685,000 (Au eq. oz.) Production cost
Slide 17: USA – Asset Highlights
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 USA – Asset Highlights Fort Knox, Alaska(1) Bald Mountain, Nevada Round Mountain, Nevada • Strong contribution from both, Fort • Production decreased over prior • Production largely inline over prior Knox and Manh Choh; production quart
Slide 18: Projects & Exploration Highlights
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Projects & Exploration Highlights
Slide 19: Significant Resource Optionality
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Significant Resource Optionality Significant resource base for potential extensions at existing operations New growth projects that could potentially contribute to the production profile through the end of the decade and beyond $1,600/o
Slide 20: Attractive Project Pipeline
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Attractive Project Pipeline Potential 2027-2030 Production Impact Bald Mtn Extensions Round Mtn Phase X Curlew Great Bear Nevada, USA Nevada, USA Washington, USA Ontario, Canada High-grade Extensive opportunity Potential bulk tonnage Wo
Slide 21: Attractive Project Pipeline Cont.
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Attractive Project Pipeline Cont. Potential 2031+ Production Impact Lobo-Marte Maricunga Tasiast UG and Satellites Additional Open Pit Chile Chile Mauritania Laybacks at Operations Potential long-life, low Historical open pit heap Furth
Slide 22: Curlew – High Grade Resource Growth
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Curlew – High Grade Resource Growth • Development: • Progressing development of the Roadrunner decline and further development of North Stealth • Provides drill positions to target high grade resource extensions with drilling planned in
Slide 23: Phase X – Potential bulk tonnage UG Operation
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Phase X – Potential bulk tonnage UG Operation • Development: Exploration decline continues to advance well with over 5,200 metres now developed • Exploration: • Q3 focused on infill drilling of the lower zone • Continuing to intersect s
Slide 24: Great Bear Update
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Great Bear Update • On schedule for first production in 2029, subject to permitting • Advanced Exploration (“AEX”): • Surface works progressing well with earthwork activities well advanced • Natural Gas pipeline has been commissioned •
Slide 25: Looking Forward
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Looking Forward ✓ Strong production outlook ✓ Generating significant cash flow ✓ Investment grade balance sheet ✓ Attractive dividend and share buyback ✓ Exciting pipeline of exploration and development opportunities ✓ Strong commitment
Slide 26: Appendix
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 Appendix
Slide 27: Endnotes
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 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 Cauti
Slide 28: Mineral Reserve and Mineral Resource Statement – Appendix A
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT – Appendix A 28
Slide 29: Mineral Reserve and Mineral Resource Statement – Appendix A
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT – Appendix A 29
Slide 30: Mineral Reserve and Mineral Resource Statement – Appendix A
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT – Appendix A 30
Slide 31: Mineral Reserve and Mineral Resource Statement Notes – Appendix A
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT NOTES – Appendix A 1) Unless otherwise noted, the Company's mineral reserves are estimated using appropriate cut-off grades based on an assumed gold price of $1,600 per ounce and a silver p
Slide 32: www.kinross.com Investor Relations
Kinross Gold Corporation (NYSE: KGC; TSX: K) Third Quarter 2025 www.kinross.com Kinross Gold Corporation (NYSE: KGC; TSX: K) Investor Relations (+1) 416-365-2854 InvestorRelations@Kinross.com