Kinross Gold (K) investor relations material

Operational excellence and production profile

• Forecasts stable annual gold production of approximately 2 million ounces through 2028, supported by six mines in attractive jurisdictions and a robust project pipeline including Great Bear and Lobo-Marte.

• Maintains a sizeable gold reserve base of 21Moz, 27Moz in measured and indicated resources, and 17Moz inferred, with ongoing exploration and mine life extension initiatives.

• Demonstrates a strong track record of meeting or exceeding annual guidance metrics, with a disciplined planning and guidance process.

• Portfolio optimization strategy targets high-grade, low-cost production and leverages existing infrastructure for future growth.

• Significant resource optionality at existing operations and new growth projects expected to drive production and cash flow into the 2030s.

Financial strength and capital allocation

• Achieved a net cash position by repaying $700 million in debt in 2025, with $1.7 billion in cash and $3.5 billion in total liquidity.

• Maintains investment grade credit ratings from Moody's, S&P, and Fitch, with no near-term debt maturities.

• Disciplined capital allocation includes $1.5 billion in 2026 capital expenditures, ongoing share buybacks, and a 33% increase in annual dividend since Q3 2025.

• Targets returning 40% of free cash flow to shareholders in 2026 through dividends and share repurchases.

• Strong free cash flow metrics and peer-leading free cash flow yield of ~10% support robust shareholder returns.

Project pipeline and growth initiatives

• Great Bear project in Ontario progressing on schedule for first production in 2029, with advanced exploration and permitting underway.

• US-based projects (Round Mountain Phase X, Curlew, Bald Mountain Redbird 2) offer significant incremental value, with combined IRR of 59% at $4,500/oz gold and nearly 3Moz total contribution.

• Lobo-Marte in Chile positioned as a long-life, low-cost cornerstone asset, with environmental baseline studies completed and EIA submission planned for 2026.

• Ongoing exploration success at Tasiast (Mauritania), Paracatu (Brazil), and other sites continues to add high-margin reserves and extend mine lives.

• Capitalizes on brownfield and greenfield exploration to support future production potential and resource growth.