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Investor Presentaiton

2021E Global Gold AISC Cost Curve Global AISC Cost Curve for Gold /A CONTANGO ORE GOLD SILVER COPPER 2021E AISC Cost Curve - Wood Mackenzie (US$/oz Au and US$/oz AuEq) (1) AISC (US$/oz) Source: Note: (1) $2,000 $1,750 $1,500 $1,250 Spot: $1,838/oz Peak Gold LOM AISC (Kinross preliminary estimate) $1,000 Peak Gold: $750/oz AuEq $750 $500 $250 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Paid Metal (%) Bloomberg and Wood Mackenzie Spot gold price as at February 2, 2021 Wood Mackenzie 2021E cost curve calculated using the composite method (applies by-product costs when the proportion of gold net revenue is greater than 65% and applies co-product costs when the proportion of gold net revenue is less than 65%) RBC Capital Markets 8
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