#1Delivering Value. November 2023 KINROSS#2Kinross Gold Corporation November 2023 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, constitute "forward looking statements" within the meaning of applicable securities laws, including the provisions of the Securities Act (Ontario) and the provisions for "safe harbor" under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this presentation. Forward-looking statements contained in this presentation include, without limitation, statements with respect to: the identification of future mineral resources at our projects; the schedules for the Company's development projects including the Great Bear project and the Tasiast solar plant; the declaration, payment and sustainability of the Company's dividends; our guidance for production, production costs of sales, cash flow, free cash flow, all-in sustaining cost of sales, and capital expenditures; the anticipated success of the Company's exploration programs; future production growth; throughput rates at the Company's operations; the future performance of the Company's common share trading price; the future of the Company's liquidity, balance sheet and credit ratings; the implementation and effectiveness of the Company's ESG and climate strategy; as well as references to other possible events, the future price of gold and silver, the timing and amount of estimated future production, costs of production, operating costs; capital expenditures, costs and timing of the development of projects and new deposits, estimates and the realization of such estimates (such as mineral or gold reserves and resources or mine life), success of exploration programs, development and mining, currency fluctuations, capital requirements, project studies, government regulation, permit applications, restarting suspended or disrupted operations, environmental risks and legal proceedings, and resolution of pending litigation. The words "expect", "forecast", "future", "guidance", "outlook", "on plan", "on schedule", "on track", "plan", "positioned", "potential", "prospective", "target", "upside" or "vision", or variations of or similar such words and phrases or statements that certain actions, events or results may, can, could, would, should, might, indicates, or will be taken, and similar expressions identify forward looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic, legislative and competitive risks and uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: the inaccuracy of any of the foregoing assumptions, restrictions or penalties now or subsequently imposed, other actions taken, by, against, in respect of or otherwise impacting any jurisdiction in which the Company is domiciled or operates (including but not limited to Canada, the European Union and the United States), or any government or citizens of, persons or companies domiciled in, or the Company's business, operations or other activities in, any such jurisdiction; fluctuations in the currency markets; fluctuations in the spot and forward price of gold or certain other commodities (such as fuel and electricity); price inflation of goods and services; changes in the discount rates applied to calculate the present value of net future cash flows based on country-specific real weighted average cost of capital; changes in the market valuations of peer group gold producers and the Company, and the resulting impact on market price to net asset value multiples; changes in various market variables, such as interest rates, foreign exchange rates, gold or silver prices and lease rates, or global fuel prices, that could impact the mark-to-market value of outstanding derivative instruments and ongoing payments/receipts under any financial obligations; risks arising from holding derivative instruments (such as credit risk, market liquidity risk and mark-to-market risk); changes in national and local government legislation, taxation (including but not limited to income tax, advance income tax, stamp tax, withholding tax, capital tax, tariffs, value-added or sales tax, capital outflow tax, capital gains tax, windfall or windfall profits tax, production royalties, excise tax, customs/import or export taxes/duties, asset taxes, asset transfer tax, property use or other real estate tax, together with any related fine, penalty, surcharge, or interest imposed in connection with such taxes), controls, policies and regulations; the security of personnel and assets; political or economic developments in Canada, the United States, Chile, Brazil, Mauritania, or other countries in which Kinross does business or may carry on business; business opportunities that may be presented to, or pursued by, us; our ability to successfully integrate acquisitions and complete divestitures; operating or technical difficulties in connection with mining, development or refining activities; employee relations; litigation or other claims against, or regulatory investigations and/or any enforcement actions, administrative orders or sanctions in respect of the Company (and/or its directors, officers, or employees) including, but not limited to, securities class action litigation in Canada and/or the United States, environmental litigation or regulatory proceedings or any investigations, enforcement actions and/or sanctions under any applicable anti-corruption, international sanctions and/or anti-money laundering laws and regulations in Canada, the United States or any other applicable jurisdiction; the speculative nature of gold exploration and development including, but not limited to, the risks of obtaining necessary licenses and permits; diminishing quantities or grades of reserves; adverse changes in our credit ratings; and contests over title to properties, particularly title to undeveloped properties. In addition, there are risks and hazards associated with the business of gold exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, Kinross' actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Kinross, including but not limited to resulting in an impairment charge on goodwill and/or assets. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The estimates, models and assumptions of Kinross referenced, contained or incorporated by reference in this presentation, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in our Management's Discussion and Analysis ("MD&A") for the period ended September 30, 2023, the Annual Information Form dated March 31, 2023 and the "Cautionary Statement on Forward-Looking Information" in our news release dated November 8, 2023, to which readers are referred and which are incorporated by reference in this presentation, all of which qualify any and all forward-looking statements made in this presentation. These factors are not intended to represent a complete list of the factors that could affect Kinross. Kinross disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. Other information Where we say "we", "us", "our", the "Company", or "Kinross" in this presentation, we mean Kinross Gold Corporation and/or one or more or all of its subsidiaries, as may be applicable. All dollar amounts are expressed in U.S. dollars, unless otherwise noted. The technical information about the Company's mineral properties contained in this presentation has been prepared under the supervision of Mr. Nicos Pfeiffer who is a "qualified person" within the meaning of National Instrument 43 101. KINROSS 2#3Table of Contents KINROSS November 2023 Company Overview Great Bear 4 16 Operations & Projects 29 ESG 50 Appendix 55 3#4Kinross Gold Corporation Who is Kinross? ✓ - $ November 2023 вве • • DIVERSIFIED ASSET BASE • >50% of production from 2 top tier assets (1) Average Cost of Sales of <$800/oz from ~2/3rd of production (2) STABLE PRODUCTION OUTLOOK ~2MOZ • Portfolio of mines producing -2.0Moz per year (3) • Plus a World Development Class Project Sizeable reserve base >25 Moz(4) • STRONG FINANCIAL POSITION . Investment grade • balance sheet • Attractive dividend, currently yielding ~2.2%(5) • ATTRACTIVE VALUE COMMITTED TO RESPONSIBLE MINING Strong FCF yield of -6.5%(6) Strong consensus recommendation; majority "Buy" ratings and average return potential of 19% (7) . • • • Consistent leader in ESG performance by key rating agencies • Tasiast solar project on track for completion by year- end • On track for 30% reduction in GHG intensity by 2030 (1) Top tier defined as assets with Life of Mine (LOM) into the next decade and annual production averaging greater than 500koz and AISC < $1000/oz Calculated based on assets outside of the U.S.A and mid-point of 2023 production and cost of sales guidance (2) (5) KINROSS 123050 | (3) Gold equivalent ounces (AuEq, oz) (4) Mineral reserves as at December 31st, 2022 As of November 22nd, 2023 (6) Calculated as Share Price / 2023E Free Cash Flow Per Share. Source: S&P Capital IQ (incl. Kinross) of November 22nd, 2023. Value for Free Cash Flow Per Share based on 2023E consensus as of November 22nd, 2023 As per Broker estimates available on Bloomberg as of November 22nd, 2023#5Kinross Gold Corporation High Quality Portfolio of Assets Two top tier) mines – Tasiast & Paracatu - account for >50% of production 2023E Gold Equivalent Production (2) Fort Knox, U.S.A. Manh Choh, U.S.A. 29% ~2.1M ounces 71% ■Americas ■West Africa Great Bear, Canada Curlew, U.S.A Bald Mountain, U.S.A. Round Mountain, U.S.A. Operations Development Projects Paracatu, Brazil La Coipa, Chile Lobo-Marte, Chile November 2023 Tasiast, Mauritania (1) Top tier defined as assets with Life of Mine (LOM) into the next decade and annual production averaging greater than 500koz and LOM AISC <$1000/oz (2022 nominal dollars) KINROSS (2) Refer to endnote #1 LO 5#6Kinross Gold Corporation Global Mining Leader in ESG (1) Environment WATER MANAGEMENT ~80% average water volume recycling rate over the past 5 years GHG INTENSITY Renewable energy 63% of total electricity consumed (grid and self- generation) TAILINGS MANAGEMENT Zero reportable incidents at all active, inactive and closed tailings facilities Benchmarking GHG Emissions Five-Year Average (2) (kg CO2e/Au eq. oz. produced) 968 99% Social of workforce hired from within host country $2 billion spent on goods and services in host countries > 600,000 beneficiaries of community investments $2.9 billion spent in host countries through taxes, wages, procurement & community investments Leading TRIFR(2,3) 0.53 • November 2023 Governance P INDEPENDENT BOARD 9 of 10 Board members are independent All Board committees composed of 100% independent directors TOP TIER GOVERNANCE Top-ranked mining company in The Globe and Mail's annual corporate governance survey for past two years, placing 15th out of 226 companies in 2022 Gold Sector Peers KINROSS 703 Kinross Gold Sector Peers 0.34 Kinross • DIVERSITY 40% of current board members meet one or more diversity characteristics Signatory to the BlackNorth Initiative One Board Director is a member of the Indigenous Peoples (1) All statistics shown are 2022 figures unless otherwise noted. Historicals include divested operations. (2) Data sourced from company filings for years 2017-2022. Peers normally include: Agnico Eagle, AngloGold, Barrick, Gold Fields, Newcrest, Newmont, and Harmony. In this analysis and based on sustainability reports released for 2022, Barrick, Agnico and Newcrest were included. For Benchmarking TRIFR, the following Gold Sector Peers were considered: Agnico Eagle, AngloGold, Barrick, Gold Fields, Newcrest and Newmont (5-year average for years 2018-2022). (3) Total Reportable Injury Frequency Rate includes all employees and contractors per 200,000 hours worked. 6#7Share Price Performance Production Why Kinross? Stable Production (Moz Au eq.oz, attributable) ~2.1 ~2.1(2) 2.0(1) ~2.0(2) 2022 2023 2024 2025 Kinross Outperforming 40% 30% 20% 10% 0% -10% -20% Jan-23 Feb-23 Mar-23 Apr-23 Kinross May-23 Jun-23 -GDX Jul-23 Aug-23 GDXJ Sep-23 (4) Refer to endnote #5 Oct-23 Nov-23 Kinross Leading FCF Yield November 2023 2023E FCF Yield % (3) 6.5% 4.5% 4.0% 3.1% 2.3% 2.2% 1.3% 0.7% Gold Fields Agnico Barrick Newmont Northern Star Endeavour AngloGold Evolution Leading ESG Performance(4) 100 75 50 25 0 2018 2019 2020 2021 2022 ■ DJSI/S&P ■Sustainalytics ISS KINROSS (1) Represents actual production from continuing operations (2) Attributable production guidance includes Kinross' share (70%) of Manh Choh production (3) Calculated as Share Price / 2023E Free Cash Flow Per Share. Source: S&P Capital IQ (incl. Kinross) of November 22nd, 2023. Values for Free Cash Flow Per Share based on 2023E consensus as of November 22nd, 2023 7 -3.5%#8Kinross Gold Corporation Attractive Valuation Trading at Compelling Cash Flow and EBITDA Metrics P/2023E Operating Cash Flow Per Share(1) November 2023 Enterprise Value / 2023E EBITDA(2) 9.7x 9.4x 9.3x 9.1x 7.3x 7.2x 6.7x 6.5x Agnico Northern Star Evolution (1) KINROSS (2) Newmont Barrick Endeavour AngloGold Gold Fields Kinross 4.6x 11.1x 9.5x 8.8x 8.3x 7.2x 6.0x 5.7x 5.7x 5.1x Newmont Evolution Northern Star Agnico Barrick AngloGold Gold Fields Calculated as Share Price / 2023E Operating Cash Flow Per Share. Source: S&P Capital IQ (incl. Kinross) of November 22nd, 2023. Values for Operating Cash Flow Per Share based on 2023E consensus as of November 22nd, 2023 Calculated as Enterprise Value (EV) / 2023E EBITDA. Source: S&P Capital IQ (incl. Kinross) of November 22nd, 2023. Values for EBITDA based on 2023E consensus as of November 22nd, 2023 Endeavour Kinross 8#9Third Quarter 2023 Balance Sheet & Financial Flexibility Liquidity Position (1) Financial Flexibility As at September 30th, 2023 ~$2.0B . Total liquidity(1) of ~$2.0 billion, including $465 million of cash and cash equivalents Continued to repay debt and de-lever in Q3 Net debt to EBITDA improved as of quarter end ⚫ Revolver Fully Repaid (2) subsequent to Sept 30th ■Cash & cash equivalents Available credit (1) KINROSS (1) "Liquidity Position" and "Total liquidity" are defined as the sum of cash and cash equivalents, as reported on the interim condensed consolidated balance sheets, and available credit under the Company's credit facilities (as calculated in Section 6 - Liquidity and Capital Resources of Kinross' MD&A for the period ended September 30th, 2023). (2) Reflects $50 million remaining payment made subsequent to the period ended September 30th, 2023#10$ millions Kinross Gold Corporation Manageable Debt Profile Senior notes are rated investment grade by all three rating agencies Debt Schedule(1) November 2023 Debt Ratings Agency Moody's Rating Baa3 (Stable) $1,000 Fitch BBB (Stable) S&P BBB- (Negative) Debt Breakdown(1) $500 $500 Interest Rate Amount Due Due 2027 4.50% $500M Due 2033 6.25% $500M $250 Due 2041 6.88% $250M $16 $32 $4 $16 Senior Notes 4.50-6.88% $1,250M $72 2023 2024 2025 2026 2027 2028- 2032 Term Loan SOFR+1.25% 2033 2034 - 2040 2041 $1,000M Tasiast Loan LIBOR + 4.38% $140M ■Term Loan ■Senior Notes ■Tasiast Loan Total $2,390M KINROSS (1) As at September 30th, 2023, other than the Revolving Credit Facility ("RCF") which was fully-repaid following a remaining $50 million payment made subsequent to period ended September 30th, 2023 10#11Kinross Gold Corporation November 2023 Disciplined Capital Allocation Strategy Reinvesting in our Business • • Sustaining Capex - maintaining our existing operations safely and to world-class environmental standards Expansion Projects - pursuing attractive returns by leveraging existing infrastructure and experience in 2023 Guidance ~$510M(1) St $ -$490M(1) operating jurisdictions, to minimize execution risk . Targeted Exploration - capitalizing on opportunities to extend or grow production -$150M Returning Capital to Shareholders Sustainable quarterly dividend ~$150M dividends Maintaining Financial Strength In a strong financial position with investment grade credit ratings KINROSS (1) See Capital Expenditure Guidance table in Appendix A. 11#12Kinross Gold Corporation Advancing the Project Pipeline Expected project milestones on track (1) 2023 2024 November 2023 KINROSS Q1 Great Bear Initial Resource and Technical Report H1 Round Mountain Begin Exploration Decline Mid-Year Tasiast 24K Throughput to Reach 24ktpd Q4 Round Mountain Phase S Approval Q4 Tasiast Solar Plant Completion H2 Manh Choh First Production H2 Great Bear Results of PEA H2 Great Bear Potential Start of Advanced Exploration Decline 2024 Round Mountain Phase X underground drilling (1) Expected timing are estimates that are based on several assumptions and external impacts. Please see our cautionary statement on forward looking information 12#13November 2023 Kinross Gold Corporation Strong Reserve and Resources Base Potential for mine life extension at existing operations Years 18 16 2006 14 12 10 10 8 6420 (1) La Coipa Fort Knox Round Mountain Bald Mountain Tasiast Paracatu ■Expected Reserve Life ■Potential Resource Life KINROSS (1) "Expected Reserve Life" and "Potential Resource Life" based on Proven and Probable reserves and Measured and Indicated estimated resources as of year-end 2022. "Expected Reserve Life" and "Potential Resource Life" index calculations are based on internal assumptions for projected production rates 13#14Kinross Gold Corporation Guidance and Outlook Well Positioned to Meet FY2023 Guidance Production (Au eq. oz.) November 2023 Q3 YTD Results FY2023 Guidance (1) FY2022 Results (2) 1.6 million ~2.1 million 2.0 million Production cost of sales $931 $970 $937 (per Au eq. oz. sold)(3) All-in sustaining cost $1,303 $1,320 $1,271 (per Au eq. oz. sold) (4) Capital expenditures (millions)(5) $787 $1,000 $764 KINROSS (1) Refer to endnote #1. 2023 Guidance reflects range of +/- 5% (2) Results are from continuing operations only. (3) Refer to endnote #3. (4) All-in sustaining cost from continuing operations per equivalent ounce sold is a non-GAAP ratio with no standardized meaning under IFRS and therefore, may not be comparable to similar measures presented by other issuers. Refer to endnote #2 (5) 2023 guidance capital expenditures are attributable and include Kinross' share of Manh Choh (70%) capital expenditures. Actual results as reported for the period ended December 31st, 2022 and September 30th, 2023, are on a total basis and include 100% of Manh Choh capital expenditures. Refer to endnote #4. 14#15November 2023 Kinross Gold Corporation Inflationary Pressures How inflationary pressure affects our cost structure Inputs Steel Direct Cost Drivers Ground support Grinding media Maintenance/supplies Power costs Estimated Impacts OPEX Assume 5% inflation for 2023; on track for FY cost guidance KINROSS Power Fuel Explosives Lubricants Chemicals ANNUAL CAPEX (including stripping) Oil & Natural Gas Employees Contractors NEW PROJECTS Labour Plant/Equipment 15#16Great Bear KINROSS November 2023 1616#17N Kinross Gold Corporation Project Overview High grade mineralization across the property Vein hosted and sulphide replacement high- grade gold mineralization typical of Red Lake region Town of LP Zone Red Lake Open along strike and at depth Disseminated high grade mineralization, analogous to Hemlo Limb Hinge 5 km KINROSS November 2023 LP ZONE Winnipeg O MANITOBA ONTARIO Кепога Red Lake Dryden Great Bear Property Provincial Powerline Paved Highway 105 17#18Kinross Gold Corporation Initial Contained Mineral Resource Estimate 2022 drilling and technical program resulted in a high-grade initial resource $1,700/OZ INITIAL RESOURCE Tonnes Grade (Au Ounces (000's) g/t) (000's) Indicated Open Pit 33,110 2.57 2,737 Inferred Open Pit 8,400 2.24 606 Inferred Underground1 11,636 4.50 1,684 Total Inferred 20,036 3.56 2,290 Drilling year-to-date has demonstrated potential for a meaningful increase in the underground resource Kinross expects to declare a resource update as part of its 2023 year-end results 1. The underground inferred resource includes 1,052 kTonnes at 4.35 g/t for 138 koz from Hinge and Limb. KINROSS November 2023 18#19Kinross Gold Corporation November 2023 Majority of Resource Contained in High Grade Core Targeting higher grade mineralization in the early years Contained Ounces Moz LO 5 ♡ Inferred Inferred 2 Indicated Indicated Inferred Inferred Indicated Contained Resource Open Pit High Grade Inferred Grade: 3.6 g/t 3.3 g/t Underground High Grade 6.1 g/t High Grade Core 4.8 g/t 3.6 g/t Indicated Grade: 2.6 g/t 3.6 g/t 0.9 g/t Open Pit Cut Off Grade: 0.5 g/t 0.9 g/t 3.5 g/t 3.5 g/t Underground Cut Off Grade: 2.3 g/t This graph shows a mineral resource estimate sensitivity with elevated cut-off grades, see technical report for detailed sensitivity tables. KINROSS 19#20Kinross Gold Corporation High Grade Core has Strong Spatial Continuity Resilient pit shell driven by the high-grade core Open Pit Resource Based on a 0.5 g/t Cut Off Grade High Grade Core of the Open Pit Resource Based on a 0.9 g/t Cut Off Grade November 2023 N N Legend > 0.9 g/t 0.5 to 0.9 g/t 1km KINROSS 20 20#21Kinross Gold Corporation November 2023 Directional Drilling Hitting Targets Faster Directional drilling hits are showing the orebody continuity at depth Recent intercepts at >1,000 m vertical. BR-778C1 was >50% faster to target zone than drilling from surface. BR-778 15.27 g/t over 4.5 m BR-778C1 5.63 g/t over 14.2 m Incl. 15.57 g/t over 4.9 m Existing underground resource stopes (Feb 2023) at 2.3 g/t cut-off Planned directional drill targets Active directional drill targets (colored) Visible gold occurrences in directional drilling NORTHWEST LP - CENTRAL BR-778C1 Open BR-778 KINROSS Widths shown are true thickness 0 SOUTHEAST Plunge +12 100 Azimuth 046 300 21#22NORTHWEST Kinross Gold Corporation Great Bear November 2023 Deep Holes Demonstrate Potential for Extension of High-Grade Underground DISCOVERY LP CENTRAL SOUTHEAST VIGGO BR-806 3.6 m@ 11.20 g/t BR-696 4.1 [email protected] g/t Open *BR-805 500 m BR-825 0.5 m @ 147.0 g/t 1,000 m BR-769A 3.4m @ 4.18 g/t 6 BR-814C1A 8.3 m @ 5.28 g/t 6.7 m @ 19.31 g/t BR-812 3.3 m @ 5.48 g/t PR-821 2.5 m @ 8.21 g/t BR-804 3.8 m @ 8.38 g/t + BR-796 4.6 m @ 5.71 g/t Open Open BR-778C1 Widths shown are true thickness ☐☐ Conceptual Targets Latest Results Recent Highlights . Drill hole Intercepts 4.9 m @ 15.57 g/t Resource Stopes Au Grade (g/t) 2.3 to 3.0 g/t 3.0 to 5.0 g/t 5.0 to 10.0 g/t 10.0 to 38.3 g/t KINROSS Open See Link to 3D Model 22 22#23November 2023 NORTHWEST Kinross Gold Corporation Exploration Plan into 2024 Continue to test strike and depth; prioritizing high-grade LP core 3 Open DISCOVERY Open Open LP CENTRAL Planned Drillholes Target Area Conceptual Targets Continuing with 11 drills into early 2024 to leverage winter access Where we are targeting our drilling in H2 2023/2024: 1 Resource development at depth in LP - Central 2 - LP Discovery resource potential at depth 3 Deep drilling and exploration along strike 4 Red Lake Style Mineralization (Hinge & Limb) - not shown KINROSS Resource Stopes Au Grade (g/t) 2.3 to 3.0 g/t 3.0 to 5.0 g/t 5.0 to 10.0 g/t 10.0 to 38.3 g/t SOUTHEAST VIGGO 500 m 3 Open 1,000 m Plunge 00 Azimuth 030 125 250 375 23 23 500#24Kinross Gold Corporation Great Bear Hinge Zone - Potential Supplemental High-Grade Feed NORTHWEST Resource Stopes Au Grade (g/t) 2.3 to 3.0 g/t 3.0 to 5.0 g/t 5.0 to 10.0 g/t 10.0 to 38.3 g/t HINGE DL-048 2.9 m @ 22.33 g/t DL-142 O DL-132 4.5 m @ 13.20 g/t 5.9 m @ 7.75 g/t 0 KINROSS 100 200 SOUTHEAST 500 m Visible Gold in Hinge Zone Plunge 00 Azimuth 020 300 New Results Recent Results Drill hole Intercepts November 2023 DL-085-C7 2.8 m @ 259 g/t from 870m 24#25Kinross Gold Corporation Exploration Decline November 2023 Advanced exploration decline expected to enable efficient drilling of underground material Conceptual Exploration Timeline 2023 Resource Development Exploration, Deep Drilling 2024 2025 2026 Potential Delineation of New Discoveries Exploration Decline Drilling From Underground 2027+ Advanced Exploration Underground Design Advanced Exploration Surface Design KINROSS Overburden Waste/Stockpiles AEX Decline Portal Camp Effluent Ponds 25#26November 2023 Kinross Gold Corporation Great Bear Appears Similar to Hemlo Over 90% of Hemlo has been mined from underground at depths of greater than 500 m KINROSS Hemlo Hemlo has produced +20 Moz 1km 3 Shafts GRADE THICKNESS ☐ ☐ ☐ ☐ < 5 GxM 5 to 15 GxM 15 to 30 GxM 30 to 50 GxM ☐☐☐ Open Great Bear Open Open 50 to 100 GxM 100 to 200 GXM > 200 GxM Conceptual Targets T Open ↑ 0 RL Open 26 500 RL 1,000 RL#27Kinross Gold Corporation November 2023 Additional Upside Potential on Highly- Prospective Land Package 1 Great Bear property 3 LP Fault Zone Discovery Central Viggo Where we see opportunity for growth: 1 Extensions Along Strike Red Lake Style Mineralization 3 Zones Parallel to LP Fault KINROSS 3 km 2 Hinge & Limb 3 Transmission line Highway 105 Felsic Intermediate Felsic Intrusive Ultramafic Mafic-Ultramafic Mafic (Calc-Alkaline?) Sediments 1 27#28Kinross Gold Corporation November 2023 Targeted Path to Production at Great Bear Conceptual Project Development Timeline $26 $27 $28 $29 $23 '24 $25 Project Studies Release PEA Surface AEX Exploration Decline Environmental Baseline Initiated Federal Permitting Process Project Impact Statement Agency Review(1) Initial Permits Final Permits Kinross Activities Detailed Engineering & Procurement Early Works Baseline Study Requirements Government Activities Construction Production KINROSS 1Average timelines consider Upper Beaver, Wasamac and Troilus. Permitting timelines are estimated and subject to Government process, consultation and engagement. 28#29793D 64 Operations & Projects KINROSS 29 29#30Q3/23 Recap Strong Q3 Production of 585koz Cost of sales of $911/oz Well positioned to deliver on full-year guidance(1) Americas Delivering Paracatu and La Coipa on track Stronger production and costs in line at US sites compared to prior quarter Manh Choh development on track Strong Margins Tasiast, Paracatu and La Coipa delivered ~70% of Q3 production at an attractive AISC Round Mountain Proceeding with Phase S Phase X underground decline advancing well Tasiast On Plan Record quarterly production On-track to meet FY guidance of 610koz (1) Great Bear Excellent drill results Technical and baseline studies ongoing AEX and main project permitting continuing to progress well (1) Refer to endnote #1 30#31Kinross Gold Corporation Brazil November 2023 2023E Gold Equivalent Production (1) Asset Highlights Mauritania 29% 11% Chile ~2.1Moz United States 32% Paracatu 28% Paracatu Top-tier (2) asset Attractive cost structure and stable long mine life extending into the next decade Track record of strong operating performance (1) Refer to endnote #1 KINROSS (2) Top tier defined as assets with Life of Mine (LOM) into the next decade and annual production averaging 500koz and AISC < $1000/oz 31#32Kinross Gold Corporation Paracatu November 2023 Top-tier Gold Mine With Production Extending into the Next Decade • Largest gold mine in Brazil, and one of the world's largest gold mining operations Q4 production is expected to be lower and costs higher due to planned mine sequencing On track to achieve FY production guidance of 580koz (+/-5%) Operating Results 2021 2022 Q3 YTD Production (Au eq. oz.) 550,560 577,354 460,059 Production cost of sales ($/oz.) (1) $749 $871 $859 2022 Gold Reserve & Resource Estimates (2) KINROSS (1) Refer to endnote #3 (2) See Appendix B Tonnes Grade Ounces (kt) (g/t) (koz) 2P Reserves 507,530 0.4 6,644 M&I Resources 345,216 0.3 3,399 Inferred 15,179 0.3 156 Resources 32#33Kinross Gold Corporation Mauritania 2023 Gold Equivalent Production (1) Tasiast 29% United States 32% ~2.1Moz 11% Chile 28% Brazil November 2023 Asset Highlights Tasiast Top-tier (2) asset Low-cost mine with a strong production profile supported by a large gold reserve in a prospective district On track for full-year production guidance of 610koz Expected to deliver low-cost production and significant cash flow into the next decade KINROSS (1) Refer to endnote #1 (2) Top tier defined as assets with Life of Mine (LOM) into the next decade and annual production averaging 500koz and AISC < $1000/oz 33#34Kinross Gold Corporation Tasiast November 2023 Low-cost Mine Backed by a Substantial Reserve, On-Track to Deliver Near-Term Production Growth • Record Q3 production on higher throughput and continued strong grades and recoveries . Highest cash flow contributor in Q3 • On track to achieve FY production . guidance of 610koz (+/- 5%) Operating Results 2021(1) 2022 Q3 YTD Production 170,502 538,591 460,029 (Au eq. oz.) Production cost of sales ($/oz.) (2) $710 $732 $668 2022 Gold Reserve & Resource Estimates(3) Tonnes Grade Ounces (kt) (g/t) (koz) 2P Reserves 108,048 1.7 5,737 M&I Resources 45,200 1.0 1,502 Inferred Resources 18,565 2.4 1,443 KINROSS (1) Lower full-year production due to the temporary suspension of milling operations following a mill fire in June 2021 (2) Refer to endnote #3 34 (3) See Appendix B#35Kinross Gold Corporation . Tasiast Solar Project • Advancing on Schedule The 34 MW solar power plant will provide -20% of the site's power, offsetting ~530 kt of greenhouse gas emissions over the life-of-mine, or the equivalent of ~11,000 gasoline powered vehicles per year Tasiast Solar will reduce Kinross' annual emissions by ~3% LOM unit cost savings are estimated at ~$15/oz(1) $55m capital investment with a project IRR of -15% Construction is nearly complete; first power to grid expected by year-end KINROSS (1) Assuming $70/bbl WTI November 2023 35#36Kinross Gold Corporation Chile 2023 Gold Equivalent Production (1) Asset Highlights Mauritania 29% United States 32% ~2.1Moz La Coipa 11% 28% Brazil KINROSS (1) Refer to endnote #1 La Coipa November 2023 High-margin production with strong cash flow La Coipa extensions show promising opportunities to extend mine life Agreement in place to receive 100% renewable power 36 36#37Kinross Gold Corporation La Coipa High-Margin Operation Driving Strong Cash Flow Strong performance on grades and recoveries continue On track to achieve FY production guidance of 240koz (+/-5%) ⚫ Benefits from a strong silver price environment, with ~30% of Au Eq. (3) reserves comprised of silver Operating Results Production (Au eq. oz.) Production cost of sales ($/oz.) (1) November 2023 2021 2022 Q3 YTD 109,576 186,315 $572 $666 2022 Reserve & Resource Estimates (2) KINROSS (1) Refer to endnote #3 (2) See Appendix B (3) 80:1 Gold Silver Ratio (GER) Tonnes (kt) Grade (g/t Au) Ounces (koz Au) Grade (g/t Ag) Ounces (koz Ag) 2P 17,118 1.7 917 62.8 34,557 Reserves M&I 27,699 1.6 1,446 40.5 36,103 Resources Inferred Resources 3,545 1.2 135 40.1 4,598 37#38Kinross Gold Corporation Strong Production Outlook in Chile November 2023 Mined in succession, La Coipa and Lobo-Marte could enable production in Chile beyond 2040 La Coipa and Lobo-Marte are located in Chile's Atacama (Region III), approximately 650 km north of Santiago Both deposits are in the Maricunga Belt with access to infrastructure • La Coipa is approximately 50 km northwest of Lobo-Marte and leverages existing infrastructure, including plant and Maricungal mine fleet Lobo-Marte has the potential to be a long-life asset with a sizeable production profile Opportunity to share infrastructure and equipment from Kinross' projects in the region (e.g., water source, processing equipment and camp) N La Coipa Water wells Lobo-Marte project 50 km Salares Norte (Gold Fields), ~75km N 50 km KINROSS Maricunga mine 38#39Kinross Gold Corporation Lobo-Marte November 2023 Potential to be a long-life, cornerstone asset with a large production profile and low costs . Offers excellent long-term optionality in Chile 2021 Reserve & Resource Estimates (1) Tonnes (thousands) Grade (Au g/t) Ounces (thousands) Significant mineral reserve estimate (1), with attractive grades and a low estimated strip ratio Probable Reserves 160,702 1.3 6,733 Indicated Resources 99,440 0.7 2,366 . Planned to be an open pit, heap leach and SART operation Inferred Resources 18,474 0.7 445 . ⚫ Designed to be protective of water resources and local wildlife . Project plans to use electric shovels and solar power for the camp to be a low- emission producer Metric Life of mine production (Au eq. oz.) Life of mine ore processed (tonnes) Average grade processed (Au) Strip ratio Average recovery rate Au Kinross Estimate (Approximate) 4.7 million 160 million 1.3 g/t 2.0 70% KINROSS (1) As of October 31, 2021. For more information, the news release dated November 10, 2021, found on our website, www.kinross.com. 39#40Kinross Gold Corporation United States 2023 Gold Equivalent Production(1) Mauritania 29% ~2.1 Moz 11% Chile 28% Brazil 32% KINROSS (1) Refer to endnote #1 November 2023 Asset Highlights Fort Knox, Round Mountain, & Bald Mountain Fort Knox, Alaska Positioned for near-term production growth Clear path to production Round Mountain, Nevada through the decade with potential underground optionality Bald Mountain, Nevada Open-pit mine with a large mineral resource base 40#41Kinross Gold Corporation November 2023 Fort Knox Positioned for Near Term Production Growth Through Manh Choh Production growth driven by enhancements to the mine plan, including the addition of the Manh Choh project Mill modifications to accommodate Manh Choh ore in progress Expect improved production and cost profile going forward Current mine life is expected to extend to 2030 Significant mill capacity provides optionality for future production growth Operating Results 2021 2022 Q3 YTD Production (Au eq. oz.) 264,283 291,248 206,436 Production cost of sales ($/oz.) (1) $1,014 $1,202 $1,160 2022 Gold Reserve & Resource Estimates (2) KINROSS (1) Refer to endnote #3 (2) See Appendix B Tonnes Grade Ounces (kt) (g/t) (koz) 2P Reserves 177,964 0.3 1,935 M&I Resources 105,365 0.3 1,092 Inferred 30,285 0.3 273 Resources 41#42Kinross Gold Corporation Manh Choh (70%) On Track for Production in H2/24 Planned utilization of existing mill and infrastructure at Fort Knox to process Manh Choh ore Construction activities remain on schedule and on budget Initial pre-stripping of the South Pit began in mid-July Mine operating permits received Contracting and procurement activities are now complete for the project site Full production remains on track to commence in the second half of 2024 November 2023 Manh Choh Reserve & Resource Estimates(1) Tonnes (thousands) Grade (Au g/t) Ounces (Au koz) Probable Reserves 2,755 7.88 698 Indicated Resources 480 2.42 37 Inferred Resources 14 3.80 2 FS Results (1) Attributable Basis H2 2024 4-5 640,000 Au eq. oz. Total pre-production capital expenditures (2) $190 million First production Years of production Total production contribution KINROSS Kinross Alaska (100% Fort Knox and Gil and 70% Manh Choh) Average annual production (2024 - 2027) Average grade processed (2024 - 2027) All-in sustaining cost (3) (2024 - 2027) ~400,000 Au eq. oz. 0.45 g/t $1,100 per Au eq. oz. (1) Reported at the Kinross-owned 70% basis. See Kinross Q2 2022 press release dated July 27th, 2022 for detailed Manh Choh Feasibility Study results. (2) Includes pre-production G&A, capitalized waste stripping, pre-purchase of ore haul fleet, and mill modifications. Attributable Basis 70% Manh Choh; 100% Fort Knox.42 (3) All-in sustaining cost per equivalent ounce sold is a non-GAAP ratio with no standardized meaning under IFRS and therefore, may not be comparable to similar measures presented by other issuers. Refer to endnote #2#43Kinross Gold Corporation Round Mountain November 2023 Confirmed Future of Open-pit mining, Underground Work Advancing W3 (study) Gold Hill (exploration) (-8 km to north) Phase X Portal (study) W4 W2 (currently mining) UG (moved to resource) Original Phase W Phase S (project approved) Ongoing mining of Phase W2 Phase S-production ramping-up in 2025 Construction of Phase X exploration decline is progressing well with ~1,000m developed to date Potential to exploit from UG at higher margin Gold Hill - 2023 exploration program complete with more drilling planned in Q4 2023 and next year Operating Results 2022 Gold Reserve & Resource Estimates (2) Tonnes Grade Ounces 2021 2022 Q3 YTD (kt) (g/t) (koz) 2P Reserves 97,560 0.7 2,246 Production (Au eq. oz.) 257,005 226,374 179,926 M&I Resources 119,736 0.9 3,293 Production cost of Inferred $908 $1,358 $1,549 sales ($/oz.) (1) 105,644 0.5 1,624 Resources KINROSS (1) Refer to endnote #3 (2) See Appendix B 43#44Kinross Gold Corporation Round Mountain Phase S Optimization Highlights Higher Forecasted Returns November 2023 . • • Provides clarity around the next step for Round Mountain - production expected to extend through the end of the decade Revised pit design has reduced the up-front capex, leading to a higher-return, more resilient outcome Cost synergies with a potential higher-grade Phase X underground, through shared processing and G&A expenses Incremental Phase S Estimates¹ Net Present Value (5%) $170 million IRR Total Production 45% ~750 koz Topo KINROSS New Phase S Design Old Phase S "Design Removed "from New Design Initial Capital (project)² $30 million Initial Capital (strip)2 $140 million Payback 2027 Total Material Mined 153 million tonnes Strip Ratio 1. Economics at $1,850/oz Au; $85/bbl oil 2. Considered to be non-sustaining capital 2.1 44#45Executing Exploring & Studying Kinross Gold Corporation Round Mountain November 2023 Strong Production Through The Decade, With Additional Upside Potential Round Mountain Open Pit Production Profile Forecast Excludes potential from Phase X and Gold Hill Underground 300koz Phase W2 + other smaller phases Phase S Phase X Underground Gold Hill Underground KINROSS 2024 2025 2026 2027 2028 2029 2030 Approved to proceed 45#46Kinross Gold Corporation November 2023 Round Mountain - Phase X - Focused on Higher-Margin UG Potential at Phase X • Progressing decline to start definition drilling in early 2024 Advancing studies and permitting in parallel to advance path to first production Geological interpretations and preliminary mine designs confirming potential for high- productivity low-cost underground operation at Phase X given wide and consistent nature of mineralization: +10m wide mineralized zones at average grade of 3 to 4 g/t KINROSS Open Open Open Round Mountain 790 m Strike Open Pit 芝 190 m Width 365 m Strike Exploration Decline Exploration Target 46 46#47Kinross Gold Corporation Gold Hill . November 2023 Potential High-Grade Underground Satellite to Supplement Phase X UG ⚫ Drilling to date suggests a series of narrower, higher-grade parallel veins extending from the open pit ⚫The 2023 exploration program has confirmed an 800m west strike extension, with numerous high-grade intercepts encountered (see below) KINROSS Waste Dump RM Gold Hill Jersey Vein Long section, 150m thick, looking North 500m cover 1.7 km vein NEW 2023 D-1120 (20) Blastholes >1ppm Ultimate GH Pit 2.4m @22.1 g/t Au Includes 0.2@293 g/t Au Au ppm 10 D-1181 (21) 3.5m @24.7 g/t Au-eq 303- D-1173A (22) Previously reported BR fault 300m D-1195 2.1m @41.5 g/t Au-eq 2.3m @20.4 g/t Au-eq D-1181 (22) & 1194 [email protected] g/t Au-eq 1.9m @29.8 g/t Au-eq Incl. 0.2m @225.9 g/t Au-eq New reporting 2.3m @8.2 g/t Au-eg 2.3m @ 6.8 g/t Au-eg D-1196 1.9m @6.1 g/t Au-eq within 59.8m @0.67 g/t 2.0m @12.4 g/t Au-eq 2.2m @ 8.0 g/t Au-eq 2.3m @ 6.6 g/t Au-eq 47#48Kinross Gold Corporation Bald Mountain Potential to Add Significant Mine Life Substantial mineral resource base with multiple sources of potential mineral reserve additions that could extend mine life beyond mid-2020s Mine plan optimized for cash flow MOUNTAIN MINE KINROSS (1) Refer to endnote #3 (2) See Appendix B Operating Results November 2023 2021 2022 Q3 YTD Production (Au eq. oz.) 204,890 214,094 113,742 Production cost of sales ($/oz.) (1) $905 $972 $1,273 2022 Gold Reserve & Resource Estimates(2) Tonnes Grade Ounces (kt) (g/t) (koz) 2P Reserves 36,900 0.5 625 M&I Resources 248,145 0.5 3,728 Inferred 50,064 0.3 522 Resources 480 48#49Kinross Gold Corporation Curlew Basin Exploration Exploration Success Continues • New vein zone intersected at 'Roadrunner Zone' - Hole 1168 (see below) . November 2023 • Exploration proving robustness of geological model and facilitating new discoveries • Confirmed vein extensions and continuity across multiple targets, which are expected to add to the resource Results-to-date demonstrate thicker intervals of mineralization and are adding volume in key portions of the system CBX YE '22: Indicated:393koz at 6.5 g/t Au, & Inferred resource 535koz at 6.0 g/t Au K2 Mine (Historic production 463koz) K2N 1171 3.9m @ 11.3 g/t Au This release ST 1179 4.7m @ 11.7 g/t Au This release KINROSS Topography 815m Z Portal 630m Z elevation NEW Roadrunner 1168 14m @ 16.46 g/t Au This release Paleosurface K5 1148 2.2m @ 41.3 g/t Au Previous release 350m to K5 -50m Z Productive horizon Looking N15W 500m thick section 500m#50ESG November 2023#51Kinross Gold Corporation Our Approach November 2023 At the heart of our success is our people and our four Core Values. Our Values and Guiding Principles unite our global workforce We integrate sustainability considerations into our core operations and practices: Do no harm - We work to protect our workforce, environment and host communities from negative impacts Make a positive contribution - We aim to provide meaningful livelihoods for employees, and opportunities for suppliers and improvements in our host communities Act ethically and transparently - We operate with respect for human rights and we engage with our stakeholders Continuous Improvement - We strive to improve our approach to corporate responsibility practices. This approach drives ESG results: Environment - Strong track record on environmental compliance: water management, tailings stewardship, closure and reclamation Social - Putting people first for workplace safety, human capital development, workplace diversity and local community development Governance - Robust corporate programs to ensure supply chain integrity, anti-corruption, tax, Board accountability and transparency & disclosure KINROSS 51#52100 800 80 60 60 40 40 2 20 0 S&P Global Kinross Gold Corporation November 2023 Consistently Earning Top-Quartile ESG Results Strong Standing Across Major ESG Indices Within the Mining Sector Kinross Relative (Percentile) Performance on Key ESG Ratings* (Normalized) 97 82 ISS 94 80 Moody's Refinitiv G&M 88 MSCI 62.5 ESG Percentiles: 10-year Trend ESG Percentiles: 10-year trend 91.5 100 90 80 70 60 50 40 30 20 10 0 Sustainalytics KINROSS * Percentiles are from 2022 ratings or latest available data. 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 ■DJSI/S&P Sustainalytics MSCI ■ ISS 52 62#53Kinross Gold Corporation Reducing our Carbon Footprint November 2023 We are making green investments and adapting our business because it's the right thing to do LOW CARBON FOOTPRINT 63% renewable 17,000 tCO₂e reduction 2 in emissions Hydro-electric power plants 1 Solar Plant (under construction) 100% renewable • Committed to 30% GHG intensity reduction in Scope 1 and Scope 2 emissions by 2030(1) • Of energy that is sourced from the grid and self- generation • • Implementation of 12 energy efficiency projects across the Company in 2022, leading to ~$7.5M savings Hydro-electric power plants acquired in 2018 to supply renewable energy to Paracatu, our largest power consumer Secured renewable power for La Coipa operations. • • Reporting to CDP since 2005 and in line with Task Force for Nature Related Financial Disclosures since 2021. Incorporated electric shovels, solar power for the camp, and an ore conveyor system to reduce the use of haul trucks in Lobo-Marte project design. ~90% of our emissions come from the fleets we deploy in our operations and the power grids we rely on 。 We are committed to our targets and look forward to working with our host governments and equipment manufacturers to help achieve these goals Agreement in place with Komatsu to take an active role in the development of the Zero Emission Haulage Solution, targeting the development of zero-emission haul trucks KINROSS (1) Kinross is using 2021 as the baseline year as part of its Climate Change Strategy objectives. The data for 2021 is the most recently available information and was assured by a third party. 53 35#54Kinross Gold Corporation Endnotes November 2023 1) Kinross' outlook represents forward-looking information and users are cautioned that actual results may vary. Please refer to the Cautionary Statement on Forward-Looking Information on slide 2 of this presentation. 2) All-in sustaining cost from continuing operations per equivalent ounce sold, sustaining capital expenditures and non- sustaining capital expenditures are non-GAAP financial measures and ratios, as applicable, with no standardized meaning under IFRS and therefore, may not be comparable to similar measures presented by other issuers. All-in sustaining cost per equivalent ounce sold for non-producing projects are forward-looking non-GAAP ratios without historical equivalents. All-in sustaining cost from continuing operations per equivalent ounce sold is calculated as all-in sustaining cost from continuing operations divided by gold equivalent ounces sold from continuing operations. All-in sustaining cost from continuing operations is a non-GAAP financial measure. For definitions, purpose and reconciliations of these non-GAAP financial measures and ratios, please refer to Section 11 - Supplemental Information of Kinross' MD&A for the three and nine months ended September 30, 2023 and for the year ended December 31, 2022, which section is incorporated by reference herein and as filed on the Company's web site at www.kinross.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. 3) Production cost of sales from continuing operations per equivalent ounce sold is defined as production cost of sales, as reported on the interim and consolidated statements of operations, divided by total gold equivalent ounces sold from continuing operations. 4) "Capital expenditures from continuing operations" for the nine months ended September 30, 2023 and 2022 are as reported as "Additions to property, plant and equipment" on the interim condensed consolidated statements of cash flows. "Capital expenditures from continuing operations" for the year ended December 31, 2022 are as reported as "Additions to property, plant and equipment" on the consolidated statements of cash flows. 5) Ranking on ESG. Percentile ranking based on: (1) S&P. score 74; 93rd percentile (2) Sustainalytics. 15th out of 121 peers (ESG risk score 24.9) (3) MSCI. achieved an 'A' rating. 32% of peers rated AA or higher, 14% as A; assume KGC at midpoint. (4) ISS. achieved a C+ rating; of 187 peers, approximately 2% scored B, 6% B-, and 11% C+; assume KGC at midpoint of C+ (5) Moody's score 57; 4th out of 51 in sector, equivalent to 92nd percentile (7) Refinitiv score A-; 80.26 out of 100. (8) G&M score 93 out of 100. KINROSS 54#55Appendix KINROSS November 2023#56Kinross Gold Corporation 2023 Guidance Summary - Appendix A Company guidance Annual attributable (1) gold equivalent production guidance (+/-5%) 2023 2.1 million oz. (2) 2024 2.1 million oz. 2025 2.0 million oz. 2023 production and cost guidance Gold equivalent basis November 2023 Accounting basis 2023 Guidance (2) (+/-5%) 2022 Actual Production (Au eq. oz.) Production cost of sales per Au eq. oz. sold All-in sustaining cost per Au eq. oz. sold³ 2023 production and cost guidance by country Country 2023 production guidance (Au eq. oz.) (+/-5%) United States Brazil Chile Mauritania TOTAL 2.1 million $970 $1,320 1.96 million $937 $1,271 2023 guidance production cost of sales (per Au eq. oz. sold) (+/-5%) 2022 production cost of sales (per Au eq. oz. sold) Percentage of total forecast (4) production 670,000 32% $1,370 580,000 28% $890 240,000 11% $770 610,000 29% $680 2.1 million 100% $970 $1,183 $871 $575 $732 $937 (1) (2) 2023 gold equivalent ounce production guidance includes approximately 8.1 million ounces of silver (3) Attributable production guidance includes Kinross' share (70%) of Manh Choh production All-in sustaining cost from continuing operations per equivalent ounce sold is a non-GAAP ratio with no standardized meaning under IFRS and therefore, may not be comparable to similar measures presented by other issuers. Refer to endnote #2. (4) The percentages are calculated based on the mid-point of country 2023 forecast production KINROSS 56 66#57Kinross Gold Corporation 2023 Guidance Summary - Appendix A 2023 capital expenditures guidance November 2023 Forecast 2023 sustaining capital (5)(6) Country (+/-5%) Forecast 2023 non- sustaining capital (5)(6) (+/-5%) (million) (million) Total 2023 forecast capital (+/-5%) (million) (6) (5)(6) (+/-5%) (million) 2022 sustaining capital 2022 non-sustaining (5)(6) capital (+/-5%) (million) 2022 total capital (+/-5%) (million) (6 United States $275 $160 $435 $216 $93 $309 (attributable) Brazil $155 $0 $155 $125 $0 $125 Chile $35 $40 $75 $8 $154 $162 Mauritania $45 $250 $295 $53 $114 $167 Canada (7) $0 $40 $40 $0 $1 $1 TOTAL (attributable) $510 $490 $1,000 $402 $362 $764 (5) Sustaining and non-sustaining capital expenditures are non-GAAP financial measures with no standardized meaning under IFRS and therefore, may not be comparable to similar measures presented by other issuers. Refer to endnote #2 (6) Forecast 2023 sustaining, non-sustaining and total forecast capital expenditures are attributable and include Kinross' share (70%) of Manh Choh capital expenditures. Actual results as reported for the year ended December 31, 2022, for sustaining, non-sustaining and total capital expenditures are on a total basis and include 100% of Manh Choh capital expenditures. (7) Canada's forecast non-sustaining capital expenditures include approximately $40 million of study costs at the Great Bear project KINROSS 57#58Kinross Gold Corporation 2023 Guidance Summary - Appendix A Material assumptions used to forecast 2023 production cost of sales are as follows: • a gold price of $1,800 per ounce; a silver price of $20 per ounce; November 2023 an oil price of $90 per barrel; foreign exchange rates of: • 5.0 Brazilian reais to the U.S. dollar; 850 Chilean pesos to the U.S. dollar; 35 Mauritanian Ouguiyas to the U.S. dollar; and 1.30 Canadian dollars to the U.S. dollar; Taking into account existing currency and oil hedges: • • • a 10% change in foreign currency exchange rates would be expected to result in an approximate $20 impact on production cost of sales per ounce (8); specific to the Brazilian real, a 10% change in this exchange rate would be expected to result in an approximate $30 impact on Brazilian production cost of sales per ounce; specific to the Chilean peso, a 10% change in this exchange rate would be expected to result in an approximate $50 impact on Chilean production cost of sales per ounce; a $10 per barrel change in the price of oil would be expected to result in an approximate $3 impact on fuel consumption costs on production cost of sales per ounce; and a $100 change in the price of gold would be expected to result in an approximate $4 impact on production cost of sales per ounce as a result of a change in royalties. 2023 sustaining capital includes the following forecast spending estimates: • Mine development: Mobile equipment: Mill facilities: Leach facilities: Tailings facilities: $155 million (United States); $25 million (Chile); $45 million (United States); $60 million (Brazil); $5 million (Chile); $15 million (Mauritania) $5 million (United States); $40 million (Brazil); $5 million (Chile); $5 million (Mauritania) $45 million (United States) $5 million (United States); $55 million (Brazil), $10 million (Mauritania) 2023 non-sustaining capital includes the following forecast spending estimates: • Tasiast West Branch stripping: $165 million • Manh Choh (70%)). $140 million • Development and growth projects and studies: $60 million • Great Bear studies (10). $40 million ESG projects: $35 million KINROSS (8) Refers to all of the currencies in the countries where the Company has mining operations, fluctuating simultaneously by 10% in the same direction, either appreciating or depreciating, taking into consideration the impact of hedging and the weighting of each currency within our consolidated cost structure. (9) Manh Choh non-sustaining capital at 100% is estimated to be approximately $180 million. (10) Included in 2023 exploration guidance of $150 million are approximately $5 million of capitalized infill drilling costs related to the Great Bear project. These costs are also included in Great Bear's approximately $40 million capital guidance. 58#59Kinross Gold Corporation November 2023 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT - Appendix B MINERAL RESERVE AND MINERAL RESOURCE STATEMENT PROVEN AND PROBABLE MINERAL RESERVES (1,4,5,6,7,8) Kinross Gold Corporation's Share at December 31, 2022 GOLD Kinross Proven Probable Property Location Interest Tonnes Grade Ounces Tonnes Grade Ounces Tonnes (%) (kt) (g/t) (koz) (kt) (g/t) (koz) (kt) Proven and Probable Grade (g/t) Ounces (koz) NORTH AMERICA Bald Mountain USA 100.0% 36,900 0.5 625 36,900 0.5 625 Fort Knox USA 100.0% 22,726 0.4 275 155,238 0.3 1,660 177,964 0.3 1,935 ||Manh Choh 2 USA 70.0% 2,755 7.9 698 2,755 7.9 698 Round Mountain 9 USA 100.0% 7,318 0.3 75 90,242 0.7 2,171 97,560 0.7 2,246 SUBTOTAL 30,044 0.4 350 285,135 0.6 5,154 315,179 0.5 5,504 SOUTH AMERICA La Coipa 10 Chile 100.0% 1,119 Lobo-Marte 3 Chile 100.0% - Paracatu SUBTOTAL Brazil 100.0% 328,208 329,327 AFRICA Tasiast SUBTOTAL TOTAL GOLD 1.3 48 15,999 1.7 869 17,118 1.7 917 160,702 1.3 6,733 160,702 1.3 6,733 0.5 5,000 179,322 0.3 1,644 507,530 0.4 6,644 0.5 5,048 356,023 0.8 9,246 685,350 0.6 14,294 Mauritania 100.0% 54,519 1.2 2,087 53,529 2.1 54,519 1.2 2,087 53,529 2.1 3,650 3,650 108,048 1.7 5,737 108,048 1.7 5,737 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT PROVEN AND PROBABLE MINERAL RESERVES (1,4,5,6,7,8) Kinross Gold Corporation's Share at December 31, 2022 Property Location 413,890 0.6 7,485 694,687 0.8 18,050 1,108,577 0.7 25,535 SILVER Kinross Interest Tonnes (%) (kt) Proven Grade (g/t) Ounces (koz) Tonnes (kt) Probable Grade (g/t) Ounces (koz) Tonnes (kt) Proven and Probable Grade (g/t) Ounces (koz) 2,755 13.6 1,203 2,755 13.6 1,203 1,358 6.8 298 1,358 6.8 4,113 11.3 1,501 4,113 11.3 298 1,501 NORTH AMERICA |Manh Choh 2 USA Round Mountain 9 USA 70.0% 100.0% SUBTOTAL SOUTH AMERICA La Coipa 10 Chile 100.0% 1,119 108.1 3,888 15,999 59.6 30,669 17,118 62.8 SUBTOTAL 1,119 108.1 3,888 15,999 59.6 30,669 17,118 62.8 34,557 34,557 TOTAL SILVER 1,119 108.1 3,888 20,112 49.8 32,170 21,231 52.8 36,058 KINROSS 59 59#60Kinross Gold Corporation November 2023 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT - Appendix B MINERAL RESERVE AND MINERAL RESOURCE STATEMENT GOLD MEASURED AND INDICATED MINERAL RESOURCES (EXCLUDES PROVEN AND PROBABLE MINERAL RESERVES) (4,5,6,7,8,11,12,15) Kinross Gold Corporation's Share at December 31, 2022 Property Location Kinross Interest Measured Indicated Tonnes Grade (%) (kt) (g/t) Ounces (koz) Tonnes (kt) Grade (g/t) Ounces (koz) Tonnes (kt) Measured and Indicated Grade (g/t) Ounces (koz) NORTH AMERICA Bald Mountain USA 100.0% 8,381 0.7 190 239,764 0.5 3,538 248,145 0.5 3,728 Fort Knox USA 100.0% 5,691 0.3 60 99,674 0.3 1,032 105,365 0.3 1,092 Great Bear Canada 100.0% 33,110 2.6 2,737 33,110 2.6 2,737 Kettle River USA 100.0% 1,892 6.5 393 1,892 6.5 393 Manh Choh 13 USA 70.0% 592 2.4 46 592 2.4 46 Round Mountain 9USA 100.0% 119,736 0.9 3,293 119,736 0.9 3,293 SUBTOTAL 14,072 0.6 250 494,768 0.7 11,039 508,840 0.7 11,289 SOUTH AMERICA La Coipa 10 Chile 100.0% 5,425 1.9 329 22,274 1.6 1,117 27,699 1.6 1,446 Lobo-Marte 14 Chile 100.0% 99,440 0.7 2,366 99,440 0.7 2,366 Maricunga Paracatu Chile 100.0% 64,728 0.7 1,521 221,602 0.7 4,688 286,330 0.7 6,209 Brazil 100.0% 64.311 0.5 SUBTOTAL 134.464 0.7 976 2.826 280,905 624,221 0.3 2,423 345,216 0.3 3,399 0.5 10,594 758,685 0.6 13,420 KINROSS AFRICA Tasiast SUBTOTAL TOTAL GOLD Mauritania 100.0% 8,784 8,784 1.0 1.0 272 272 36,416 36,416 1.1 1.1 1,230 1,230 45,200 45,200 1.0 1,502 1.0 1,502 157,320 0.7 3,348 1,155,405 0.6 22,863 1,312,725 0.6 26,211 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT MEASURED AND INDICATED MINERAL RESOURCES (EXCLUDES PROVEN AND PROBABLE MINERAL RESERVES) (4,5,6,7,8,11,12,15) Kinross Gold Corporation's Share at December 31, 2022 Property SILVER Location Kinross Interest (%) Tonnes (kt) Measured Grade (g/t) Indicated Measured and Indicated Ounces Tonnes Grade Ounces (koz) (kt) (g/t) (koz) Tonnes (kt) Grade Ounces (g/t) (koz) NORTH AMERICA Manh Choh Round Mountain 13 USA ⁹USA 70.0% 100.0% SUBTOTAL 592 9.3 176 592 9.3 176 5,217 8.1 1,360 5,217 8.1 1,360 5,809 8.2 1,536 5,809 8.2 1,536 SOUTH AMERICA La Coipa 10 Chile 100.0% 5,425 30.6 5,344 SUBTOTAL 5,425 30.6 5,344 22,274 22,274 43.0 43.0 30,759 27,699 30,759 27,699 40.5 40.5 36,103 36,103 TOTAL SILVER 5,425 30.6 5,344 28,083 35.8 32,295 33,508 34.9 37,639 60#61Kinross Gold Corporation November 2023 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT - Appendix B MINERAL RESERVE AND MINERAL RESOURCE STATEMENT INFERRED MINERAL RESOURCES (4,5,6,7,8,11,12,15) GOLD Kinross Gold Corporation's Share at December 31, 2022 Property Location Kinross Interest Inferred Tonnes Grade Ounces (%) (kt) (g/t) (koz) NORTH AMERICA Bald Mountain USA 100.0% 50,064 0.3 522 Fort Knox USA 100.0% 30,285 0.3 273 Great Bear Canada 100.0% 20,037 3.6 2,290 Kettle River USA 100.0% 2,790 6.0 535 Manh Choh Round Mountain USA ⁹USA 70.0% 15 3.8 2 100.0% 105,644 0.5 1,624 SUBTOTAL 208,835 0.8 5,246 SOUTH AMERICA La Coipa 10 Chile 100.0% 3,545 1.2 135 Lobo-Marte Chile 100.0% 18,474 0.7 445 Maricunga Chile 100.0% 174,847 0.6 3,097 Paracatu Brazil 100.0% 15,179 0.3 156 SUBTOTAL 212,045 0.6 3,833 AFRICA Tasiast SUBTOTAL TOTAL GOLD Mauritania 100.0% 18,565 2.4 1,443 18,565 2.4 1,443 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT INFERRED MINERAL RESOURCES (4,5,6,7,8,11,12,15) 439.445 0.7 10,522 SILVER Kinross Gold Corporation's Share at December 31, 2022 Property Location Kinross Interest Tonnes Inferred Grade Ounces (%) (kt) (g/t) (koz) NORTH AMERICA |Manh Choh Round Mountain SUBTOTAL USA USA 70.0% 15 9.2 4 100.0% 349 1.2 13 364 1.5 17 SOUTH AMERICA La Coipa 10 Chile 100.0% 3,563 40.1 SUBTOTAL 3,563 40.1 4,598 4,598 KINROSS TOTAL SILVER 3,927 36.6 4,615 61#62Kinross Gold Corporation November 2023 MINERAL RESERVE AND MINERAL RESOURCE STATEMENT NOTES - Appendix B (1) Unless otherwise noted, the Company's mineral reserves are estimated using appropriate cut-off grades based on an assumed gold price of $1,400 per ounce and a silver price of $17.50 per ounce. Mineral reserves are estimated using appropriate process recoveries, operating costs and mine plans that are unique to each property and include estimated allowances for dilution and mining recovery. Mineral reserve estimates are reported in contained units based on Kinross' interest and are estimated based on the following foreign exchange rates: Canadian Dollar to $US 1.30 Chilean Peso to $US 850.00 Brazilian Real to $US 5.00 Mauritanian Ouguiya to $US 35.00 (2) The mineral reserve estimates for Manh Choh assume a $1,300 per ounce gold price and a $17 per ounce silver price and are based on the 2022 Feasibility Study. (3) The mineral reserve estimates for Lobo Marte assume a $1,200 per ounce gold price and foreign exchange rate assumption of Chilean Peso to $US 800.00 are based on the 2021 Feasibility Study. (4) The Company's mineral reserve and mineral resource estimates as at December 31, 2022 are classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") "CIM Definition Standards - For Mineral Resources and Mineral Reserves" adopted by the CIM Council (as amended, the "CIM Definition Standards") in accordance with the requirements of National Instrument 43-101 "Standards of Disclosure for Mineral Projects" ("NI 43-101"). Mineral reserve and mineral resource estimates reflect the Company's reasonable expectation that all necessary permits and approvals will be obtained and maintained. (5) Cautionary note to U.S. investors concerning estimates of mineral reserves and mineral resources. These estimates have been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States' securities laws. The terms "mineral reserve", "proven mineral reserve", "probable mineral reserve", "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are Canadian mining terms as defined in accordance with NI 43-101 and the CIM Definition Standards. These definitions differ from the definitions in subpart 1300 of Regulation S-K ("Subpart 1300"), which replaced the United States Securities and Exchange Commission ("SEC") Industry Guide 7 as part of the SEC's amendments to its disclosure rules to modernize the mineral property disclosure requirements. These amendments became effective February 25, 2019 and registrants are required to comply with the Subpart 1300 provisions by their first fiscal year beginning on or after January 1, 2021. While the definitions in Subpart 1300 are more similar to the definitions in NI 43-101 and the CIM Definitions Standard than were the Industry Guide 7 provisions due to the adoption in Subpart 1300 of terms describing mineral reserves and mineral resources that are "substantially similar" to the corresponding terms under the CIM Definition Standards, including the SEC now recognizing estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" and amending its definitions of "proven mineral reserves" and "probable mineral reserves" to be "substantially similar" to the corresponding CIM Definitions, the definitions in Subpart 1300 still differ from the requirements of, and the definitions in, NI 43-101 and the CIM Definition Standards. U.S. investors are cautioned that while the above terms are "substantially similar" to CIM Definitions, there are differences in the definitions in Subpart 1300 and the CIM Definition Standards. Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the mineral reserve or mineral resource estimates under the standards set forth in Subpart 1300. U.S. investors are also cautioned that while the SEC recognizes "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under Subpart 1300, investors should not assume that any part or all of the mineralization in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. Mineralization described using these terms has a greater amount of uncertainty as to its existence and feasibility than mineralization that has been characterized as reserves. Accordingly, investors are cautioned not to assume that any measured mineral resources, indicated mineral resources, or inferred mineral resources that the Company reports are or will be economically or legally mineable. Further, "inferred mineral resources" have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Therefore, U.S. investors are also cautioned not to assume that all or any part of the "inferred mineral resources" exist. Under Canadian securities laws, estimates of "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies, except in rare cases. As a foreign private issuer that files its annual report on Form 40-F with the SEC pursuant to the multi-jurisdictional disclosure system, the Company is not required to provide disclosure on its mineral properties under the Subpart 1300 provisions and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards. If the Company ceases to be a foreign private issuer or loses its eligibility to file its annual report on Form 40-F pursuant to the multi-jurisdictional disclosure system, then the Company will be subject to reporting pursuant to the Subpart 1300 provisions, which differ from the requirements of NI 43-101 and the CIM Definition Standards. For the above reasons, the mineral reserve and mineral resource estimates and related information in this AIF may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder. (6) The Company's mineral resource and mineral reserve estimates were prepared under the supervision of and verified by Mr. John Sims, who is a qualified person as defined by NI 43-101. Mr. Sims was an officer of Kinross until December 31, 2020. Mr. Sims remains the Company's qualified person as an external consultant. (7) The Company's normal data verification procedures have been used in collecting, compiling, interpreting and processing the data used to estimate mineral reserves and mineral resource (8) Rounding of values to the 000s may result in apparent discrepancies. 9) Round Mountain refers to the Round Mountain project, which includes the Round Mountain deposit and the Gold Hill deposit. The Round Mountain deposit does not contain silver and all silver resources at Round Mountain are contained exclusively within the Gold Hill deposit. Disclosure of gold mineral reserves and mineral resources reflect both the Round Mountain deposit and the Gold Hill deposit. Disclosure of silver mineral reserves and mineral resources reflect only the Gold Hill deposit. (10) Includes mineral resources and mineral reserves from the Puren deposit in which the Company holds a 65% interest; as well as mineral resources from the Catalina deposit, in which the Company holds a 50% interest. (11) Mineral resources are exclusive of mineral reserves. (12) Unless otherwise noted, the Company's mineral resources are estimated using appropriate cut-off grades based on a gold price of $1,700 per ounce and a silver price of $21.3 per ounce. Foreign exchange rates for estimating mineral resources were the same as for mineral reserves. (13) The mineral resource estimates for Manh Choh assume a $1,600 per ounce gold price and a $22 per ounce silver price and are based on the 2022 Feasibility Study. (14) The mineral resource estimates for Lobo Marte assume a $1,600 per ounce gold price and are based on the 2021 Feasibility Study. (15) Mineral resources that are not mineral reserves do not have to demonstrate economic viability. Mineral resources are subject to infill drilling, permitting, mine planning, mining dilution and recovery losses, among other things, to be converted into mineral reserves. Due to the uncertainty associated with inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to indicated or measured mineral resources, including as a result of continued exploration. KINROSS 62#63KINROSS