Kinross Gold : Sustainibility Report (2024 Sustainability Report)

Published: 2025-05-27 17:31:06 ET K.TO

Published on 05/27/2025 at 17:31

KINROSS GOLD CORPORATION

2024 SUSTAINABILITY REPORT

‌

Overview

General Disclosures

Environment

Social

Governance

2024 Data Summary

Indices

2024 Data Summary

Beginning with this 2024 Sustainability Report, we have elected to publish our complete data table set and our SASB and GRI indices on our web site. References to both of the aforementioned files will take the reader to those documents on kinross.com.

2024 Sustainability Data Tables 2024 GRI

2024 SASB

ESRS Index

Governance

Environment

General Disclosure

Overview

Report Guide

Overview

Corporate Profile 2024

Environmental Stewardship

138

Business Ethics, Corruption and Bribery

CEO Message to Stakeholders

Climate Risk, Greenhouse Gas Emissions and Energy

141

Human Rights

Chair Message to Stakeholders

Pollution Prevention Air and Noise

144

Supply Chain Due Diligence

2024 Progress Against Targets

Pollution Prevention Soil

and Responsible Procurement

2024 Sustainability and ESG Ratings

Water Resources

149

Grievance Mechanisms

164

Cautionary Statement on Forward-Looking Information

Biodiversity and Ecosystems

152

Public Policy

165

Corporate Information

Resource Use and Circular Economy Material and

156

Data Privacy and Cybersecurity

Waste Management

159

Crisis Response and Risk Mitigation

Tailings and Heap Leach Management

We recognize the increasing level of interest in our sustainability performance from our investors and the broader stakeholder community. To facilitate assessment of our record, we have highlighted the standards and principles that Kinross is using to guide our performance and reporting. We encourage readers to access the indices in this Report for information

at the indicator level.

The content in this Report is focused on our performance over the past year. The Policy Statement (PS) narrative by topic is available in the Sustainability section of kinross.com. We have linked PS references in this REPORT to the relevant content, which can be found on our website.

GRI - Global Reporting Initiative Standards RGMP - Responsible Gold Mining Principles UNGC - Ten Principles of the UN Global Compact

SASB - Sustainability Accounting Standard Metals & Mining

Social

SDG - Sustainable Development Goals

A GUIDE TO MULTI-YEAR GRAPHS

Previously reported data for 2019, 2020 and 2021 includes divested operations in Russia and Ghana, unless otherwise noted.

GRAPH

2020

Continuing operations applies to both 2023

2021 2022 2023 2024 and 2024

Basis for Report Preparation

Own Workforce

Governance

Respectful Workplace

Strategy, Business Model, and Value Chain

Training and Skills Development

Interests and Views of Stakeholders

Occupational Health and Safety

Materiality Assessment

Fair Working Conditions

Affected Communities

104

Stakeholder Engagement in Affected Communities

114

Interests and Views of Indigenous Peoples

119

Local Benefits and Shared Value

133

Integrated Mine Closure

Identifies the topic as a material ESG topic

2024 SUSTAINABILITY REPORT KINROSS GOLD

Tables and figures in this report are numbered sequentially per section of content.

Links to Data Tables

ANALYST CORNER: ETHICAL CONDUCT

Read Policy Statement

GRI 205, 419

RGMP Principle 1

UNGC Principle 10

SASB

SDG 16

Data Tables

Overview

General Disclosures

Environment

Social

Governance

2024 Data Summary

Indices

EMPLOYEES WORLDWIDE

~6,850

VALUE CHAIN WORKERS

PRODUCTION

10,800

through business partners

2.17 Au eq. oz.

million

REVENUE

$5.1billion

billion since 2010

spending on procurement, payments to governments, wages and benefits and community investments Kinross-wide

$54

CUMULATIVE BENEFIT FOOTPRINT

2024 TOTAL BENEFIT FOOTPRINT

$4.0 billion

$416 million

$681 million

total spending

in payments to

in total wages

governments

and benefits

$2.9 billion

~789,000

$13.0 million

in payments to suppliers

beneficiaries of

total community investment,

community programs

monetary and in-kind

Kinross' sustainability vision is to be a partner of choice with all of our stakeholders, including communities, Indigenous Peoples, shareholders, employees, governments and suppliers. Together with our commitment to responsible mining, we embrace a values-based approach to ensure that sustainability and our environmental, social and governance considerations are a core part of our culture, strategy and plans for future growth.

OUR CORE VALUES

Putting people first

Outstanding corporate citizenship

High performance culture

Rigorous financial discipline

This 2024 Sustainability Report documents our continuing progress in sustainability performance. This Report also begins our transition to reporting in alignment with the European Union's Corporate Sustainability Reporting Directive (CSRD) and underscores our longstanding commitment to the principles of completeness, balance and transparency in our reporting. Read Basis for Report Preparation.

All figures are in U.S. dollars unless otherwise noted. Throughout this Report, figures do not always total due to rounding.

TSX: K

Toronto Stock Exchange

NYSE: KGC

New York Stock Exchange

2024 SUSTAINABILITY REPORT KINROSS GOLD 3

Overview

General Disclosures

Environment

Social

Governance

2024 Data Summary

Indices

Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength.

Kinross Operations and Projects

Fort Knox, U.S.A. Manh Choh, U.S.A.

Great Bear, Canada Curlew, U.S.A.

Bald Mountain, U.S.A. Round Mountain, U.S.A.

Toronto, Canada

Tasiast, Mauritania

Paracatu, Brazil

Operations Development Projects Head Office

La Coipa, Chile Lobo-Marte, Chile

* Top-tier defined as assets with Life of Mine (LOM) into the next decade and annual production averaging greater than 500 koz. and AISC < $1,000/oz. (2025 nominal dollars).

Attributable free cash flow is a non-GAAP financial measure calculated as net cash flow from operating activities, less attributable capital expenditures and non-controlling interest included in net cash flow from operating activities. Non-GAAP measures have no standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. For the definition and reconciliation of these non-GAAP financial measures and ratios, please refer to Section 11 - Supplemental Information of Kinross' Management's Discussion and Analysis for the year ended December 31, 2024.

"Total liquidity" is defined as the sum of cash and cash equivalents, as reported on the consolidated balance sheet, and available credit under the Company's credit facilities

2024 SUSTAINABILITY REPORT KINROSS GOLD

(as calculated in Section 6 - Liquidity and Capital Resources of Kinross' MD&A for the year ended December 31, 2024.

Includes Spain, the Netherlands and Finland.

2024 HIGHLIGHTS

STABLE PRODUCTION PROFILE

Portfolio of mines produced ~2.1 million gold equivalent ounces

Delivered record attributable free cash flow1 of $1.3 billion

Sizeable mineral reserve base

2024 EMPLOYEES BY COUNTRY (#)

Brazil Canada Chile

DIVERSIFIED ASSET BASE

>50% of production from two top-tier assets*, Paracatu and Tasiast

Americas region accounts for ~71% of production

Mauritania

Other3 U.S.A.

1,861

2,082

6,850

347

INVESTMENT GRADE BALANCE SHEET

Total liquidity2 of ~$2.3 billion

Repaid $800 million in debt

Disciplined capital strategy and attractive dividend

1,733

790

ROBUST PROJECT PIPELINE

Great Bear is a world-class project in Canada

Extensive brownfields exploration and development projects across all jurisdictions

2024 EMPLOYEES BY COUNTRY (%)

Brazil Canada Chile Mauritania

Other3

U.S.A.

30%

27%

COMMITTED TO MINING RESPONSIBLY

Consistent top performer in sustainability

Advancing toward 30% reduction in GHG intensity from baseline by 2030

For more information about our 2024 performance, refer to the 2024 Annual Report.

12%

25%

Overview

General Disclosures

Environment

Social

Governance

2024 Data Summary

Indices

CEO Message to Stakeholders

Kinross embeds sustainability in every aspect of its operations and business. Below, Paul Rollinson discusses Kinross' sustainability highlights for 2024 and strategy going forward.

2024 Year in Review

1. What are Kinross' sustainability achievements that you're most proud of in 2024? 2024 was an exceptional year for Kinross. We achieved excellent operational and financial performance, met our targets for production, costs, and capital expenditures, and strengthened our balance sheet. These results were supported by our uncompromising approach to responsible mining.

Our commitment to sustainability and focus on the fundamentals remained at the core of our success. Our Sustainability strategy is focused on the three pillars of Workforce and Community, Natural Capital and Climate and Energy.

In Workforce and Community, people continued to be at the centre of our strategy. We

2024 HIGHLIGHTS

Maintained our strong safety performance with a Total Reportable Injury Frequency Rate of 0.33 and increased proactive field engagements (16.8 per employee per year vs

16.0 in 2023).

Over 12,000 people, including employees and business partners, completed

the training for our Safety Excellence Program since 2023.

Launched Safeground, our new brand and global approach to health and safety.

Continued to receive strong rankings and ratings with external entities for sustainability performance and governance.

Recognized in Canada's The Globe and

Delivered 19 energy efficiency projects providing 15 million litres in fuel savings, approximately $13 million in cost savings and an estimated reduction

of 45,000 tonnes CO2e in annualized GHG emissions.

Consumed 67% of electric power from renewable sources, a five-year high; renewable energy was 24% of total energy consumption.

Maintained our 32-year record of zero reportable tailings incidents.

Continued to improve employee retention with a 10% turnover rate for 2024, the lowest rate in five years, and reflecting our workforce strategy with its focus on talent planning, employee value

J. Paul Rollinson

Chief Executive Officer

2024 SUSTAINABILITY REPORT KINROSS GOLD

advanced our people-centric approach on safety and respectful workplace. The launch of Safeground, our new global safety brand, together with continued, extensive engagements to build and maintain trust with our diverse groups of stakeholders, our people and their working environment remain a priority. We want to ensure a safe and respectful working environment. I'm happy to see that our year over year turnover rates have improved, as we continue to work hard to attract people into careers in the mining sector.

Our supply chain is both critical to our business and ensures we are building strong communities where we operate. With 86% of our spending in host countries, we want to be sure that we are always sourcing responsibly and engaging with suppliers to collectively

reduce our impacts. In 2024, we engaged with select suppliers on emissions reductions, water resiliency and sustainability governance.

We continued to make progress on our Natural Capital initiatives across our sites, with Bald Mountain winning another award for its concurrent reclamation work. In 2024, I was pleased to return to our closed and reclaimed Mineral Hill site in Montana for the first time

Mail's annual 'Board Games' governance rating. Kinross was the top scoring Canadian gold mining company and in the top 10% of companies overall.

Named to the 2025 S&P Global Sustainability Yearbook as among the top sustainability performers in 2024, representing the 12th consecutive year for this recognition.

Recognized with a 2024 award for Business Achievement in Sustainability by the Canadian Council for the Americas.

Conformed with the Responsible Gold Mining Principles for the fourth consecutive year, as evidence to our stakeholders of our strong governance in Sustainability.

proposition and respectful workplace.

Contributed approximately $13 million of monetary and in-kind contributions through community investments in 2024.

Named one of Brazil's Best Places to Work. Was ranked 34th out of 527

companies that registered to participate.

Named one of Greater Toronto's Top Employers by The Globe and Mail for the seventh consecutive year.

Paracatu worked with the World Gold Council to publish a videodemonstrating the positive impact of community partnerships, with a particular focus on sustainability after mine closure.

Disclaimer

Kinross Gold Corporation published this content on May 27, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 27, 2025 at 21:30 UTC.