Kinross Gold (K) Corporate presentation summary

Operational performance and portfolio

• Forecasts annual gold production of approximately 2 million ounces through 2028, supported by six mines in stable jurisdictions and a robust pipeline of projects, 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 opportunities.

• Demonstrates a strong track record of meeting or exceeding annual guidance, with stable production and disciplined planning processes.

• Portfolio optimization strategy targets high-grade, low-cost projects and leverages existing infrastructure for future growth into the 2030s.

• Significant resource optionality at existing operations and new projects expected to drive production and cash flow through the next decade.

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.

• Returned $1.5 billion in capital in 2025, including $752 million to shareholders and a 2.5% share reduction via buybacks; targets returning 40% of 2026 free cash flow through dividends and buybacks.

• Disciplined capital allocation prioritizes sustaining and growth capex, exploration, and ongoing balance sheet strength.

• Free cash flow yield exceeds 10%, with strong per-share metrics and a 33% increase in annual dividend since Q3 2025.

Project pipeline and growth initiatives

• Great Bear project in Ontario advances with construction, permitting, and exploration, targeting first production in 2029 and robust economics: $8B NPV, 63% IRR, and $865/oz AISC.

• US projects (Round Mountain Phase X, Curlew, Bald Mountain Redbird 2) add nearly 3Moz, extend mine lives, and deliver high IRRs and quick paybacks.

• Lobo-Marte in Chile offers long-life, low-cost production potential, with environmental studies completed and EIA submission planned for 2026.

• Ongoing exploration at key assets (Tasiast, Paracatu, La Coipa, Bald Mountain) supports resource growth and mine life extensions.

• Capital expenditures for 2026 guided at $1.5 billion, with major investments in Great Bear, Round Mountain, Curlew, and Bald Mountain.