Investor Presentaiton

Kinross 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

View entire presentation