Kinross Gold : Annual Meeting of Shareholders
K.TO
Published on 04/30/2026 at 10:19 am EDT
Annual Shareholder Meeting April 30th, 2026
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Senior Leadership Team
Paul Rollinson
Chief Executive
Officer
Geoff Gold
President
Will Dunford Executive Vice-President & Chief Technical
Officer
Andrea Freeborough Executive Vice-President & Chief Financial
Officer
Kathleen Grandy Executive Vice-
President, Human Resources
Ryan Latinovich Executive Vice-
President, Corporate Development
Claude Schimper Executive Vice-President & Chief Operating
Officer
David Shaver
Executive Vice-
President, Investor Relations & Communications
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2025 Performance Highlights
Produced 2.01 million gold equivalent ounces Robust margins of $2,283/Au eq. oz. sold(1)
Generated record $3.76 billion in operating cash flow(2) and $2.47 billion in Free Cash Flow(3)
Repaid $700 million in debt
Returned $752 million to shareholders through quarterly dividend and share repurchases Strengthened Liquidity(4) and Investment Grade Balance Sheet achieving Net Cash of $1 billion Strong progress across project pipeline
Continued share price outperformance
"Margins" per equivalent ounce sold is defined as average realized gold price per ounce less production cost of sales per equivalent ounce sold.
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"Operating cash flow" for the year ended December 31, 2025 is reported as "Net cash flow provided from operating activities" on the consolidated statements of cash flows.
"Free Cash Flow" represents attributable free cash flow which is a non-GAAP financial measure with no standardized meaning under IFRS and therefore, may not be comparable to similar measures presented by other issuers. Refer to endnote #2.
"Liquidity" is defined as the sum of cash and cash equivalents, as reported on the 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 year ended December 31, 2025).
Two top tier(1) mines - Tasiast & Paracatu - account for >50% of production and world class development projects in attractive jurisdictions
2025A Gold Equivalent
Production
Fort Knox, U.S.A.
Manh Choh, U.S.A.
Great Bear, Canada
2.0M
ounces
Americas Mauritania
Bald Mountain, U.S.A.
Curlew, U.S.A
Operations
Development
Projects
Round Mountain, U.S.A.
Paracatu, Brazil
La Coipa, Chile
Lobo-Marte, Chile
Tasiast, Mauritania
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Top tier defined as assets with Life of Mine (LOM) into the next decade and annual production averaging greater than 500koz and cash costs in the lower half of the industry cost curve
492,563 oz.
Gold equivalent production
$1,397/oz
Production cost of sales
(Au eq. oz. sold)(1)
$1,732/oz
Attributable all-in sustaining cost
(Au eq. oz. sold)(2)
$838M
4th Consecutive Quarter of Record Free Cash Flow(2)
On track to achieve full-year production guidance of 2.0 Moz(3)
Strengthened our cash and
investment grade balance sheet
Ongoing Return of Capital via dividend and share repurchases
$300M
Returned to Shareholders in Q1
Production cost of sales per equivalent ounce sold is defined as production cost of sales, as reported on the interim condensed consolidated statements of operations, divided by total gold equivalent ounces sold. 6
Attributable all-in sustaining cost per equivalent ounce sold and Free Cash Flow are a non-GAAP financial ratio with no standardized meaning under IFRS and therefore, may not be comparable to similar measures presented by other issuers. Refer to end note #2.
Refer to endnote #1.
Q1 2026 Highlights
Commitment to Sustainability
Implemented more than 38 different energy efficiency projects delivering an estimated 1.5% reduction in GHG emissions
Top scoring mining company in The Globe and Mail's annual corporate governance
ranking
Spent approximately $2.9 billion on goods and services in host countries and aided
community development by making approximately
$19 million of monetary and in-kind donations company-wide
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TASIAST VIDEO PLACEHOLDER
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Delivering Value
Consistent Operational Excellence
✓
Rigorous Cost & Capital Discipline
✓
Strong Margins & Record Free Cash Flow
✓
Robust Investment Grade Balance Sheet
✓
Attractive Dividend & Share Buyback
✓
Growing per share metrics
✓
Attractive Valuation
✓
Highly Liquid Stock
✓
Attractive Organic Growth Pipeline
✓
Leadership in Sustainability
✓
Compelling Cash Flow
2025 Free Cash Flow(1) Per Ounce of Total Equivalent Gold Production(1)
$1,276 $1,237 $1,231
$1,125
$1,023 $970
$507
2026E FCF Yield %(2)
10.9% 10.4%
9.7%
8.8% 8.3%
7.0%
6.2%
3.7%
350%
300%
250%
200%
150%
100%
50%
0%
Strong Shareholder Returns
KGC GDX Gold
Free Cash Flow per Ounce of Production calculated as Free Cash Flow divided by Total Gold Equivalent Production (GEO) based on calendar twelve months ended December 31st, 2025 period values per S&P Capital IQ (incl. Kinross) and as per reported Company Disclosure (incl. Kinross).
Calculated as Share Price / 2026E Free Cash Flow Per Share. Source: S&P Capital IQ (incl. Kinross) of April 23rd, 2026. Values for Free Cash Flow Per Share based on 2026E consensus as of April 23rd, 2026. 9
Why Kinross?
Kinross' outlook, which is reported on an attributable basis including Kinross' share of Manh Choh (70%), 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
Attributable all-in sustaining cost per equivalent ounce sold and attributable free cash flow are a non-GAAP financial ratio and measure, respectively, with no standardized meaning under IFRS and therefore, may not be comparable to similar measures presented by other issuers. Attributable all-in sustaining cost per equivalent ounce sold is calculated as attributable all-in sustaining cost divided by attributable gold equivalent ounces sold. Attributable all-in sustaining cost is a non-GAAP financial measure. Attributable free cash flow includes Kinross' share of Manh Choh (70%) free cash flow. 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 year-ended ended December 31, 2025 and three months ended March 31, 2026, which sections are incorporated by reference herein and as filed on the Company's website at www.kinross.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
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Disclaimer
Kinross Gold Corporation published this content on April 30, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 30, 2026 at 14:18 UTC.