Kinross Gold : Annual Meeting of Shareholders

Annual Shareholder Meeting

May 11, 2022

Strength

Value

Growth

Kinross Gold Corporation

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 our guidance for production, production costs of sales, cash flow, free cash flow, all-in sustaining cost of sales, exploration expenditures and capital expenditures; future production growth; the declaration, payment and sustainability of the Company's dividends and share buyback program; optimization studies; the schedules and budgets for the Company's development projects; the Company's capital reinvestment program and continuous improvement initiatives and project performance or outperformance, 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 and conversions, restarting suspended or disrupted operations; environmental risks and proceedings; and resolution of pending litigation. The words "advancing", "estimate", "expect", "forecast", "future", "goal", "growth", "guidance", "on schedule", "on track", "opportunity", "outlook", "plan", "possible", "potential", or "priority", 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: fluctuations in the spot and forward price of gold or certain other commodities (such as fuel and electricity); price inflation of goods and services; our ability to successfully integrate acquisitions and complete announced divestitures (such as the sale of our Russian and Ghana assets); operating or technical difficulties in connection with mining, development or refining activities; international sanctions and/or anti-money laundering laws and regulations in Canada, the United States or any other applicable jurisdiction; and the speculative nature of gold exploration and development including, but not limited to, the risks of obtaining necessary licenses and permits. 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. All of the forward-looking statements made in this news release are qualified by this cautionary statement and those made in our other filings with the securities regulators of Canada and the United States including, but not limited to, the cautionary statements made in the "Risk Analysis" section of our MD&A for the year ended December 31, 2021, the "Risk Factors" set forth in the Company's Annual Information Form dated March 31, 2022, and the "Cautionary Statement on Forward-Looking Information" in our news release dated May 10, 2022, 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.

Note Regarding the Use of Non-GAAP and Other Specified Financial Measures

This presentation contains "specified financial measures" within the meaning of National Instrument 52-112Non-GAAPand Other Financial Measures Disclosure. None of these specified financial measures have a standardized meaning under IFRS, and therefore, may not be comparable to similar measures presented by other issuers. For further information on certain of these specified financial measures, including the definition, purpose and reconciliation to the most directly comparable GAAP measure, please refer to Section 11 - Supplemental Information of Kinross' MD&A for the three months ended March 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. The specified financial measures disclosed are as follows:

Production cost of sales per equivalent ounce sold or Consolidated production cost of sales from continuing operations per equivalent ounce sold, which is defined as production cost of sales divided by total gold equivalent ounces sold, or total gold equivalent ounces sold from continuing operations.

Margins per gold equivalent ounce sold, which is defined as average realized gold price per ounce less consolidated production cost of sales per equivalent ounce sold.

All-in sustaining cost per equivalent ounce sold, or attributable all-in sustaining cost from continuing operations per equivalent ounce sold, are

non-GAAP ratios and are defined as all-in sustaining cost, or attributable all-in sustaining cost from continuing operations divided by gold equivalent ounces sold, or attributable gold equivalent ounces sold from continuing operations. All-in sustaining cost and attributable all-in sustaining cost from continuing operations are non-GAAP financial measures. As Kinross' share of Chirano (90%) is now excluded from guidance, forward-looking (guidance) all-in sustaining cost per equivalent ounce sold is no longer on an attributable basis, but on a total basis.

Attributable production cost of sales from continuing operations per equivalent ounce sold is a non-GAAPratio and is defined as attributable

production cost of sales from continuing operations divided by the attributable number of gold equivalent ounces sold from continuing operations.

Attributable production cost of sales from continuing operations is a non-GAAP financial measure.

Attributable includes Kinross' 90% share of Chirano production and costs, and 70% of Manh Choh costs. Also unless otherwise noted, dollar per ounce ($/oz.) figures in this presentation refer to gold equivalent ounces.

Senior Leadership

Team

Paul Rollinson	Geoff Gold	Andrea	Paul Tomory	Claude
EVP, Corporate
President &	Freeborough	EVP & Chief Technical	Schimper
Development, External
Chief Executive Officer	EVP & Chief Financial	Officer	EVP, Operations
Relations &

Chief Legal Officer		Officer

Thank you to our colleagues in Russia and Ghana