Kinross Gold (K) investor relations material

Operational performance and production guidance

• Maintains consistent operational excellence with annual gold production guidance of 2.0Moz through 2028, supported by six mines in stable jurisdictions and a robust reserve base of ~21Moz proven and probable gold reserves, ~27Moz measured and indicated, and ~17Moz inferred resources.

• 2026 guidance includes production cost of sales at $1,360/oz and all-in sustaining cost (AISC) at $1,730/oz, with capital expenditures forecast at $1.5B.

• H1 2026 production reached 0.98Moz, with strong operational performance at Paracatu and Tasiast mines, both on track to meet guidance.

• Project pipeline advancing with Great Bear, Lobo-Marte, and three US brownfield projects, all progressing on schedule.

• Significant resource optionality and exploration success are expected to drive future production and mine life extensions.

Financial strength and capital allocation

• Strong balance sheet with $2.7B in cash and $1.9B net cash as of June 30, 2026, and total liquidity of $4.4B.

• Over $1.4B returned to shareholders since January 2025, including $615M in 2026 YTD, with a target to return 40% of free cash flow via dividends and buybacks.

• Investment grade credit ratings from Moody’s (Baa2), Fitch (BBB), and S&P (BBB), with no near-term debt maturities.

• Disciplined capital allocation strategy prioritizes reinvestment in sustaining and growth projects, maintaining financial strength, and returning capital to shareholders.

Project pipeline and growth initiatives

• Great Bear project in Ontario advancing through permitting and engineering, targeting first production in late 2029, with a PEA outlining 518koz/year average production at $856/oz AISC and $7.1B NPV at $4,100/oz gold.

• Lobo-Marte in Chile offers long-life, low-cost heap leach production with 4.6Moz LOM, $1,000/oz AISC, and $4.3B NPV at $4,100/oz gold.

• US projects (Round Mountain Phase X, Curlew, Bald Mountain Redbird 2) collectively add nearly 3Moz, with high IRRs and quick paybacks, extending mine lives into the 2030s.

• Ongoing exploration at key assets (Tasiast, Paracatu, Great Bear, Curlew) is driving resource growth and future production potential.