Kinross Gold Corporation · TSX:K
Kinross Gold — Shareholder Meeting (May 2020)
23 slides from Kinross Gold's shareholder meeting presentation, May 6, 2020
Slide 1: Enhancing Value
Annual and Special Meeting of Shareholders May 6, 2020 Enhancing Value Kinross Gold Corporation
Slide 2: Cautionary Statement on Forward-Looking Information
Cautionary Statement on Forward-Looking Information All statements, other than statements of historical fact, contained or incorporated by reference in or made in giving this presentation and responses to questions, including but not limited to any information as to the future performance of Kinross
Slide 3: Senior Leadership Team
Senior Leadership Team Paul Rollinson Geoff Gold Andrea Freeborough Paul Tomory President & EVP, Corporate Development, SVP & EVP & Chief Executive Officer External Relations & Chief Chief Financial Officer Chief Technical Officer Legal Officer 3
Slide 4: Thank You to Our Employees
Thank You to Our Employees
Slide 5: Our Core Commitments
Our Core Commitments Health and Safety Environmental, Social and Governance (ESG) Operational Excellence Financial Discipline 5
Slide 6: Thank You to Healthcare Providers and Frontline Workers
Thank You to Healthcare Providers and Frontline Workers
Slide 7: Our Response to COVID-19
Our Response to COVID-19 Ensure health and safety of our employees and host communities Established cross-functional Task Force in January Worked closely with local governments and healthcare experts Implemented comprehensive protocols across global operations
Slide 8: 2020 Q1 Results
2020 Q1 Results ~567,000 Au eq. oz. Year-over-year improvements: production Adjusted operating cash flow $754 per Au eq. oz. of $419 million, cost of sales increased 81% $993 per Au eq. oz. Adjusted net earnings of all-in sustaining cost $127 million, increased 53% Tasiast continued to Margins incre
Slide 9: Strong Relations with Host Governments
Strong Relations with Host Governments Working with host governments to help keep mines operating safely Supporting host governments and communities in fight against COVID-19 9
Slide 10: Over $5 Million in Support of Host Communities' Efforts Against COVID-19
Over $5 MILLION in Support of Host Communities’ Efforts Against COVID-19 10
Slide 11: Financial Strength
May 7, 2020 Financial Strength Generating robust cash flow in favourable gold price environment More than $1.1 billion Strong Liquidity in cash and cash Position equivalents $750 million draw from As at Mar. 31, 2020 revolving credit facility $1.9B $200 million draw down from Tasiast project Cash Av
Slide 12: Continued Operational Strength
OPERATIONAL STRENGTHS May 7, 2020 Continued Operational Strength Business continuity plans to protect against supply chain risk Contingency plans to ensure sustained access to global refining capacity 12
Slide 13: Excellent 2019 Performance
Excellent 2019 Performance Produced ~2.5 million Au eq. oz. Year-over-year improvements: Adjusted operating cash flow increased 37% to $1.2 billion Adjusted net earnings more than tripled to $423 million Increased margins by 28%, outpacing gold price increase
Slide 14: Eight Consecutive Years of Meeting Guidance
Eight Consecutive Years of Meeting Guidance 2012 2013 2014 2015 2016 2017 2018 2019 Met or exceeded annual production guidance Met or came in under annual cost guidance Met or came in under annual capital expenditures guidance
Slide 15: Excellent Performance At Our Largest Operations
Excellent Performance At Our 3 Largest Operations Tasiast Paracatu Kupol Mauritania Brazil Russia
Slide 16: Tasiast: Record Production and Low Costs in 2019
May 7, 2020 Tasiast: Record Production and Low Costs in 2019 Advanced 24k project, which is expected to increase production and cash flow, and reduce costs 16
Slide 17: Paracatu: Record Annual Production in 2019
Paracatu: Record Annual Production in 2019 Expect to produce an average of ~540k Au oz. annually over 12 years from 2020 to 2031
Slide 18: Russia – Successful 26-year History
Russia – Successful 26-year History Strong record of extending mine life at Kupol Added ~405,000 Au eq. oz. to Kupol reserves in 2019 Acquired Chulbatkan, a high-quality project with significant upside potential
Slide 19: Advanced Development Portfolio
Advanced Development Portfolio Round Mountain Fort Knox La Coipa Nevada Alaska Chile
Slide 20: Continuing to Enhance Value
Continuing to Enhance Value Strong track record over past 8 years: Future Expectation: Production ~2.5 million Au eq. oz. per year ~2.5 million Au eq. oz. per year Costs and Reduced AISC by Further reduce AISC and capital Capital ~$100/Au eq. oz. expenditures Continue extending mine lives with Histo
Slide 21: Successful Eight-Year Track Record
May 7, 2020 Successful Eight-Year Track Record Proven track record of extending mine life AISC reduced by ~$100/oz. over past eight years Mutually beneficial relationships with host governments
Slide 22: Kinross Core Strengths
Kinross Core Strengths Large, reliable High-quality project gold producer pipeline Robust balance sheet Strong government & community Successful project relationships execution & mine life Excellent extensions ESG performance
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