For more information, please see Kinross’ 2024 Q1 Financial Statements and MD&A
Kinross Gold Corporation
25 York Street, 17th Floor
Toronto, ON Canada M5J 2V5
p. 1 Kinross reports 2024 first-quarter results www.kinross.com
For more information,
please see Kinross’ 2024 Q1
Financial Statements and MD&A
at www.kinross.com
NEWS RELEASE
Kinross reports 2024 first-quarter results
Strong start to the year with robust margins driving strong free cash flow
Development projects on track
Well positioned to meet annual guidance
Toronto, Ontario – May 7, 2024 – Kinross Gold Corporation (TSX: K, NYSE: KGC) (“Kinross” or the “Company”)
today announced its results for the first quarter ended March 31, 2024.
This news release contains forward-looking information about expected future events and financial and operating performance of the Company. We refer to the risks and assumptions set out
in our Cautionary Statement on Forward-Looking Information located on pages 27 and 28 of this release. All dollar amounts are expressed in U.S. dollars, unless otherwise noted.
2024 first-quarter highlights:
Production of 527,399 gold equivalent ounces (Au eq. oz.), a 13% year-over-year increase.
Production cost of sales1, 2 of $982 per Au eq. oz. sold and all-in sustaining cost2, 3 of $1,310 per Au eq. oz.
sold, both of which are in line with Q1 2023.
Margins4 increased by 20% to $1,088 per Au eq. oz. sold, outpacing the rise in the average realized gold price.
Operating cash flow 5 of $374.4 million and adjusted operating cash flow 3 of $424.9 million. Attributable6
free cash flow3 of $145.3 million.
Reported net earnings7 of $107.0 million, or $0.09 per share, with adjusted net earnings3, 8 of $124.9 million,
or $0.10 per share3.
Kinross’ Board of Directors declared a quarterly dividend of $0.03 per common share payable on June 13,
2024, to shareholders of record at the close of business on May 30, 2024.
On track to meet annual guidance: On an attributable basis 6, Kinross expects to produce 2.1 million Au eq.
oz. (+/- 5%) at a production cost of sales per Au eq. oz.1 of $1,020 (+/- 5%) and all-in sustaining cost3 of $1,360
(+/- 5%) per ounce sold for 2024. Total attributable 6 capital expenditures 3 are forecast to be approximately
$1,050 million (+/- 5%).
Balance sheet strength: Kinross has improved its debt metrics and continues to maintain its investment grade
credit ratings. As of March 31, 2024, Kinross had cash and cash equivalents of $406.9 million, for total liquidity9
of approximately $2 billion.
Operations:
o Kinross’ three largest producing mines – Tasiast, Paracatu and La Coipa – delivered 68% of total
production, with production cost of sales of $821 per Au eq. oz. sold 1 and margins 4 of $1,251 per Au
eq. oz. sold.
o Tasiast achieved record quarterly throughput as the mine continued its strong performance since the
completion of the 24k project.
o Paracatu achieved record quarterly throughput and La Coipa continued to deliver high margin
production.
1 “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.
2 As production from Manh Choh is expected to commence in the third quarter of 2024, production cost of sales and attributable all-in sustaining cost figures and ratios
for Manh Choh are nil for all periods presented. As a result, production cost of sales and all-in sustaining cost figures and ratios are equal to attributable production cost
of sales and attributable all-in sustaining cost figures and ratios, as applicable.
3 These figures are non-GAAP financial measures and ratios, as applicable, and are defined and reconciled on pages 16 to 21 of this news release. Non-GAAP
financial measures and ratios have no standardized meaning under IFRS and therefore, may not be comparable to similar measures presented by other issuers.
4 “Margins” per equivalent ounce sold is defined as average realized gold price per ounce less production cost of sales per equivalent ounce sold.
5 Operating cash flow figures in this release represent “Net cash flow provided from operating activities,” as reported on the interim condensed consolidated
statements of cash flows.
6 “Attributable” includes Kinross’ 70% share of Manh Choh production, costs and capital expenditures. Attributable guidance figures are non-GAAP financial
measures and ratios. Refer to footnote 2.
7 Reported net earnings figures in this news release represent “Net earnings (loss) attributable to common shareholders,” as reported on the interim condensed
consolidated statements of operations.
8 Adjusted net earnings figures in this news release represent “Adjusted net earnings attributable to common shareholders.”
9 “Total liquidity” is defined as the sum of cash and cash equivalents, as reported on the interim condensed 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 three months ended March 31, 2024).
Kinross Gold Corporation
25 York Street, 17th Floor
Toronto, ON Canada M5J 2V5
p. 2 Kinross reports 2024 first-quarter results www.kinross.com
Development projects:
o Kinross’ pipeline of development projects continues to advance on plan.
o At Great Bear, the drilling campaign made strong progress in Q1 2024 and continues to successfully
target extensions of the resource at depth.
o At Manh Choh, operations are ramping up and the project is on track for first production in early Q3
2024.
o At Round Mountain, Phase S mining is on plan, and the exploration decline at Phase X is progressing
well, with approximately 1,800 metres developed to date.
Sustainability Report: Kinross expects to publish its 2023 Sustainability Report later this month, providing a
comprehensive summary of its performance over the past year.
CEO commentary:
J. Paul Rollinson, CEO, made the following comments in relation to 2024 first-quarter results:
“We have had a strong start to the year and are well positioned to meet our annual guidance. Our portfolio of mines
performed well, driven by strong operational performance, disciplined cost management and higher gold prices.
The Company delivered a 20% increase in margins to $1,088 per ounce sold, which is approximately double the
percentage increase in the gold price over the same period. As a result, free cash flow more than tripled over Q1
2023.
“With the strong sustained gold price, we will continue to prioritize our financial discipline and operational excellence.
We will focus on maintaining our margins and cost profile, prudent capital allocation and debt reduction.
“Our development projects are all proceeding as planned. At Great Bear, we made excellent progress on our 2024
drilling campaign, which continued to successfully target extensions of the resource at depth, and we remain on
track to release a preliminary economic assessment (PEA) in the second half of the year. At Round Mountain,
Phase S and Phase X are advancing well. We are also looking forward to first production at Manh Choh early in the
third quarter. At Tasiast, our solar power plant is complete and generating power at full capacity.
“Kinross’ commitment to Sustainability is deeply rooted in our values and culture, and we are proud of our consistent
high rankings in our industry. We are looking forward to publishing our 2023 Sustainability Report later this month,
marking our 16th year of reporting in this important area.”
Kinross Gold Corporation
25 York Street, 17th Floor
Toronto, ON Canada M5J 2V5
p. 3 Kinross reports 2024 first-quarter results www.kinross.com
Summary of financial and operating results
(a) “Gold equivalent ounces” include silver ounces produced and sold converted to a gold equivalent based on a ratio of the average spot market prices for the
commodities for each period. The ratio for the first quarter of 2024 was 88.70:1 (first quarter of 2023 – 83.82:1).
(b) The definition and reconciliation of these non-GAAP financial measures and ratios is included on pages 16 to 21 of this news release. Non-GAAP financial
measures and ratios have no standardized meaning under IFRS and therefore, may not be comparable to similar measures presented by other issuers.
(c) “Capital expenditures” is as reported as “Additions to property, plant and equipment” on the interim condensed consolidated statements of cash flows.
(d) “Attributable” includes Kinross’ 70% share of Manh Choh costs, capital expenditures and cash flow, as appropriate.
(e) “Average realized gold price per ounce” is defined as gold metal sales divided by total gold ounces sold.
(f) “Production cost of sales per equivalent ounce sold” is defined as production cost of sales divided by total gold equivalent ounces sold.
(g) As production from Manh Choh is expected to commence in the third quarter of 2024, production cost of sales and attributable all-in sustaining cost figures and
ratios for Manh Choh are nil for all periods presented. As a result, production cost of sales and all-in sustaining cost figures and ratios are equal to attributable
production cost of sales and attributable all-in sustaining cost figures and ratios, as applicable.
The following operating and financial results are based on first-quarter gold equivalent production:
Production: Kinross produced 527,399 Au eq. oz. in Q1 2024, compared with 466,022 Au eq. oz. in Q1 2023. The
13% year-over-year increase was primarily due to higher throughput at Tasiast, higher grades at La Coipa, and
higher production at Bald Mountain due to timing of ounces recovered from the heap leach pads.
Average realized gold price10: The average realized gold price in Q1 2024 was $2,070 per ounce, compared with
$1,894 per ounce in Q1 2023.
Revenue: During the first quarter, revenue increased to $1,081.5 million, compared with $929.3 million during Q1
2023. The 16% year-over-year increase is primarily due to increases in gold equivalent ounces sold and average
metal prices realized.
Production cost of sales: Production cost of sales per Au eq. oz. sold1, 2 decreased slightly to $982 for the quarter,
compared with $987 in Q1 2023.
10 “Average realized gold price per ounce” is defined as gold metal sales divided by total gold ounces sold.
(unaudited, in millions of U.S. dollars, except ounces, per share amounts, and per ounce amounts) 2024 2023
Operating Highlights
Total gold equivalent ounces(a)
Produced 527,399 466,022
Sold 522,400 490,330
Financial Highlights
Metal sales 1,081.5$ 929.3$
Production cost of sales 512.9$ 483.9$
Depreciation, depletion and amortization 270.7$ 211.9$
Operating earnings 193.2$ 143.9$
Net earnings attributable to common shareholders 107.0$ 90.2$
Basic earnings per share attributable to common shareholders 0.09$ 0.07$
Diluted earnings per share attributable to common shareholders 0.09$ 0.07$
Adjusted net earnings attributable to common shareholders(b)
124.9$ 87.6$
Adjusted net earnings per share(b)
0.10$ 0.07$
Net cash flow provided from operating activities 374.4$ 259.0$
Adjusted operating cash flow(b)
424.9$ 358.2$
Capital expenditures(c)
241.9$ 221.2$
Attributable(d) capital expenditures(b)
232.1$ 211.8$
Attributable(d) free cash flow(b)
145.3$ 47.8$
Average realized gold price per ounce(e)
2,070$ 1,894$
Production cost of sales per equivalent ounce(a) sold(f)(g)
982$ 987$
Production cost of sales per ounce sold on a by-product basis(b)(g)
941$ 929$
All-in sustaining cost per ounce sold on a by-product basis(b)(g)
1,281$ 1,284$
All-in sustaining cost per equivalent ounce(a) sold(b)(g)
1,310$ 1,321$
Attributable(d) all-in cost per ounce sold on a by-product basis(b)
1,613$ 1,616$
Attributable(d) all-in cost per equivalent ounce(a) sold(b)
1,630$ 1,634$
Three months ended
March 31,
Kinross Gold Corporation
25 York Street, 17th Floor
Toronto, ON Canada M5J 2V5
p. 4 Kinross reports 2024 first-quarter results www.kinross.com
Production cost of sales per Au oz. sold on a by-product basis 2, 3 was $941 in Q1 2024, compared with $929 in Q1
2023, based on gold sales of 503,604 ounces and silver sales of 1,667,248 ounces.
Margins4: Kinross’ margin per Au eq. oz. sold increased by 20% to $1,088 for Q1 2024, compared with the Q1
2023 margin of $907, outpacing the 9% increase in average realized gold price 10.
All-in sustaining cost2, 3: All-in sustaining cost per Au eq. oz. sold was $1,310 in Q1 2024, compared with $1,321
in Q1 2023.
In Q1 2024, all-in sustaining cost per Au oz. sold on a by-product basis was $1,281, compared with $1,284 in Q1
2023.
Operating cash flow 5: Operating cash flow was $374.4 million for Q1 2024, compared with $259.0 million for Q1
2023.
Adjusted operating cash flow3 for Q1 2024 was $424.9 million, compared with $358.2 million for Q1 2023.
Attributable6 free cash flow3: Attributable free cash flow more than tripled to $145.3 million in Q1 2024, compared
with $47.8 million in Q1 2023.
Earnings: Reported net earnings 7 increased by 19% to $107.0 million for Q1 2024, or $0.09 per share, compared
with reported net earnings of $90.2 million, or $0.07 per share, for Q1 2023.
Adjusted net earnings3, 8 increased by 43% to $124.9 million, or $0.10 per share, for Q1 2024, compared with $87.6
million, or $0.07 per share, for Q1 2023.
Attributable6 capital expenditures 3: Attributable capital expenditures increased to $232.1 million for Q1 2024,
compared with $211.8 million for Q1 2023, primarily due to an increase in capital stripping at Tasiast and Fort
Knox11, as well as the start of Phase S capital development at Round Mountain, partially offset by a decrease in
capital stripping at La Coipa.
Balance sheet
Kinross had cash and cash equivalents of $406.9 million as of March 31, 2024, compared with $352.4 million at
December 31, 2023. The increase was primarily due to the increase in operating cash flow.
Kinross has improved its debt metrics and continues to prioritize maintaining and strengthening its investment grade
balance sheet. Kinross plans to further reduce debt during the year by allocating excess free cash generated
towards the term loan due in 2025.
The Company had additional available credit 12 of $1.6 billion and total liquidity 9 of approximately $2 billion as of
March 31, 2024.
Dividend
As part of its continuing quarterly dividend program, the Company declared a dividend of $0.03 per common share
payable on June 13, 2024, to shareholders of record as of May 30, 2024.
11 “Fort Knox” includes Fort Knox and Manh Choh.
12 “Available credit” is defined as available credit under the Company’s credit facilities and is calculated in Section 6 Liquidity and Capital Resources of Kinross’
MD&A for the three months ended March 31, 2024.
Kinross Gold Corporation
25 York Street, 17th Floor
Toronto, ON Canada M5J 2V5
p. 5 Kinross reports 2024 first-quarter results www.kinross.com
Operating results
Mine-by-mine summaries for 2024 first-quarter operating results may be found on pages 10 and 14 of this news
release. Highlights include the following:
At Tasiast, production was in line with the previous quarter, and was higher year-over-year mainly due to record
quarterly throughput following the completion of the Tasiast 24k project in the second half of 2023, partly offset by
lower grades, as planned. Cost of sales per ounce sold was largely in line quarter-over-quarter, and lower year-
over-year mainly due to the higher ounces sold.
Paracatu delivered according to plan, with production largely in line with the previous quarter, and higher year-
over-year mainly due to an increase in throughput, partly offset by lower grades as a result of planned mine
sequencing. Cost of sales per ounce sold decreased quarter-over-quarter primarily due to lower maintenance,
labour and contractor costs. Year-over-year, cost of sales per ounce sold increased mainly due to an increase in
labour, drilling, blasting and fuel costs related to an increase in tonnes mined.
At La Coipa, production was slightly lower than the previous quarter mainly as a result of a decrease in throughput,
which was offset by higher grades and recoveries. Production increased compared with the same period last year
primarily due to an increase in gold grades, and an increase in mill throughput. Cost of sales per ounce sold was
largely in line with both comparable periods.
At Fort Knox11, production was lower quarter-over-quarter due to lower mill grade, throughput and recovery, and
the seasonal effect of fewer ounces recovered from the heap leach pads. Year-over-year, production was lower
due to lower mill grade, throughput and recovery. In both comparable periods, cost of sales per ounce sold was
higher primarily due to lower production.
Round Mountain performed well, with production increasing quarter-over-quarter due to higher mill throughput,
grade, and recoveries, partially offset by fewer ounces recovered from the heap leach pads. The increase in
production compared to Q1 2023 was primarily due to higher mill grade and throughput, partially offset by lower mill
recovery and fewer ounces recovered from the heap leach pads. In both comparable periods, cost of sales per
ounce sold was lower due to the increase in production as well as an increase in capital development related to the
start of stripping Phase S.
At Bald Mountain, production increased in both comparable periods mainly due to an increase in ounces recovered
from the heap leach pads. Cost of sales per ounce sold was lower quarter-over-quarter mainly as a result of a
higher proportion of capital development, and similarly, lower year-over-year due to a higher proportion of capital
development as well as higher production.
Development Projects and Exploration
Great Bear
At the Great Bear project, the Company’s robust exploration program continues to make excellent progress,
execution planning for the advanced exploration program is well underway, and permitting continues to advance on
plan.
The drilling results below (at true width) continue to support the view of a high-grade, long-life mining complex at
Great Bear, with recent results showing extension of mineralization at depth across multiple zones.
At Yuma, results continue to intersect higher grade mineralization at depth in close proximity to the current resource,
with holes BR-843AC3 and BR-695C1A intersecting 10.2m @ 18.59 g/t at 975m vertical depth and 6.2m @ 6.24
g/t at 1,085m vertical depth, respectively.
At Yauro, BR-708AC1B intersected 2.0m @ 11.41 g/t at a vertical depth of 1,095m well below the current resources,
showing the potential for Yauro to continue to expand at depth with high grade mineralization, similar to how depth
extensions progressed with continued drilling at Yuma.
Kinross Gold Corporation
25 York Street, 17th Floor
Toronto, ON Canada M5J 2V5
p. 6 Kinross reports 2024 first-quarter results www.kinross.com
At Auro, recent drilling also intersected high grade mineralization with a minable width below the current resources
with hole BR-882 intersecting 6.1m @ 25.71 g/t at a vertical depth of 720m.
At Discovery to the northwest, hole BR-847 has intersected 2.4m @ 5.53 g/t at 870m in the under-tested area
beneath the current resource, demonstrating continuity of mineralization between previously reported drill holes.
The 2024 drill program will continue to target mineralization below the existing mineral resource, explore for
additional deposits along strike, and expand our Red Lake style mineralization at Hinge and Limb.
For the Advanced Exploration (AEX) program, Kinross is progressing provincial permitting, engineering, and
execution planning activities that would establish an underground decline to obtain a bulk sample and allow for
definition and infill drilling in the LP zone. Kinross has the necessary surface rights to develop the AEX project,
subject to obtaining the required provincial permits.
Detailed engineering, execution planning, and procurement continue to progress well. Some required infrastructure
such as the camp and water treatment plant have now been purchased.
Kinross is targeting a start of the surface construction for the AEX program in the second half of 2024, subject to
receipt of permits, with start of the underground decline planned in mid-2025.
For the Main Project, Kinross continues to advance technical studies, including engineering and field test work
campaigns. In the last quarter, substantial geotechnical field work was conducted to help de-risk project construction
through strong early technical studies.
Kinross remains on track to release a PEA in the second half of 2024. Kinross has opted to pursue a PEA as it
enables the inclusion of a portion of the inferred underground resource. This provides visibility into the potential
production scale, construction capital, all-in sustaining cost and margins for both the open pit and the underground.
The PEA will only include a subset of the ounces in the measured, indicated, and inferred resources drilled to date.
The Detailed Project Description for the Main Project was submitted to the Impact Assessment Agency of Canada
in Q1 2024, as planned, and the Federal Impact Assessment is underway. Studies are ongoing and the Company
expects to file its Impact Statement in the first half of 2025.
Selected Great Bear Drill Results
See Appendix A for full results.
Hole ID
From
(m)
To
(m)
Width
(m)
True Width
(m)
Au
(g/t)
Target
BR-695C1A 1,324.7 1,333.0 8.3 7.3 5.35 Yuma
BR-695C1A Including 1,324.7 1,331.7 7.0 6.2 6.24
BR-695C1A 1,441.2 1,444.2 3.0 2.6 0.58
BR-695C1A 1,469.0 1,517.5 48.5 42.7 0.86
BR-695C1A Including 1,502.6 1,506.3 3.7 2.8 4.49
BR-695C1A 1,524.5 1,537.8 13.3 11.3 0.81
BR-708AC1B 1,271.7 1,276.7 5.0 4.5 0.64 Yauro
BR-708AC1B 1,319.9 1,323.7 3.8 3.4 0.50
BR-708AC1B 1,376.2 1,441.7 65.5 59.0 0.96
BR-708AC1B Including 1,438.7 1,441.1 2.4 2.0 11.41
BR-843AC3 1,256.3 1,259.8 3.5 2.7 0.68 Yuma
BR-843AC3 1,354.7 1,395.0 40.3 36.3 5.65
BR-843AC3 1,377.4 1,388.8 11.3 10.2 18.59
BR-843AC3 1,509.7 1,513.7 4.0 3.5 3.39
BR-847 934.7 950.0 15.3 13.0 2.08 Discovery
BR-847 Including 934.7 937.5 2.8 2.4 5.21
Kinross Gold Corporation
25 York Street, 17th Floor
Toronto, ON Canada M5J 2V5
p. 7 Kinross reports 2024 first-quarter results www.kinross.com
BR-847 975.0 992.5 17.5 14.9 0.85
BR-847 998.8 1,001.8 3.0 2.6 0.48
BR-847 1,027.2 1,036.1 8.9 7.8 1.54
BR-847 1,048.5 1,051.5 3.0 2.7 0.35
BR-847 1,052.9 1,080.0 27.1 24.4 1.38
BR-847 Including 1,063.6 1,066.3 2.7 2.4 5.53
BR-882 953.0 957.5 4.5 3.7 0.45 Auro
BR-882 1,015.2 1,022.4 7.2 6.1 25.71
BR-882 Including 1,017.5 1,019.4 1.9 1.6 95.27
Results are preliminary in nature and are subject to on-going QA/QC. Lengths are subject to rounding.
See Appendix B for a LP zone long section.
Fort Knox
At the Kinross-operated, 70%-owned Manh Choh project, the Company is on track for first production in early Q3
2024. Ore and waste mining are ongoing with the full mining fleet now in operation as planned. Following several
months of orientation runs, transportation of ore to Fort Knox, where the ore will be processed, continues to ramp
up with all contracted trucks received, the majority of the drivers onboarded, and trailer manufacturing now
complete.
At Fort Knox, mill modifications and site preparation remain on plan, including the completion of the ore delivery
road and tie-ins for the pebble recycle conveyor. Building construction is advancing well, along with interior piping
and electrical works.
Round Mountain
The extension strategy at Round Mountain is advancing well. At Phase S, mining is on plan. For the heap leach
pad expansion, earthworks began during the quarter, procurement is advancing as expected and construction
activities remain on track.
At Phase X, development of the exploration decline is progressing well, with over 1,800 metres developed to date.
The decline has now progressed to the point that infill drilling of the primary Phase X target can commence in Q2
2024, as planned.
The Company also took the opportunity, as the decline was advancing, to perform exploration drilling in between
the open pit and the underground target. This drilling 13 has intersected high-grade mineralization with significant
widths in this area outside of the primary Phase X target, which is also an area that did not have significant historic
drilling, as highlighted below:
DX-0012: 8.4m @ 16.6 g/t Au Eq
DX-0019: 21.3m @ 9.9 g/t Au Eq
DX-0014: 9.1m @ 9.5 g/t Au Eq
These results show potential for expansion of the target area for mineralization and for potential future mining at
Phase X (see Appendix C).
At Gold Hill, infill drilling of the underground targets is being completed from the bottom of the historical pit and
exploration drilling is being completed from surface, testing continuity and extensions at depth and on strike.
13 Phase X drill results are reported as apparent widths as true widths have yet to be determined.
Kinross Gold Corporation
25 York Street, 17th Floor
Toronto, ON Canada M5J 2V5
p. 8 Kinross reports 2024 first-quarter results www.kinross.com
Chile
Kinross’ activities in Chile are currently focused on La Coipa and potential opportunities to extend its mine life.
The Lobo-Marte project continues to provide optionality as a potential large, low-cost mine upon the conclusion of
mining at La Coipa. While the Company focuses its technical resources on La Coipa, it will continue to engage and
build relationships with communities related to Lobo-Marte and government stakeholders.
Curlew Basin exploration
At Curlew, Kinross is working on optimizing the potential mine design with a focus on improving the efficiency and
margin of potential underground mining. The Company continues to progress underground drilling to follow up on
recent high-grade intersections at the Roadrunner and Stealth vein zones, and has intersected multiple zones of
stockwork veining with assays pending.
Conference call details
In connection with this news release, Kinross will hold a conference call and audio webcast on Wednesday, May 8,
2024, at 7:45 a.m. EDT to discuss the results, followed by a question-and-answer session. To access the call,
please dial:
Canada & US toll-free – 1 (888) 330-2446; Passcode: 4915537
Outside of Canada & US – 1 (240) 789-2732; Passcode: 4915537
Replay (available up to 14 days after the call):
Canada & US toll-free – 1 (800) 770-2030; Passcode: 4915537
Outside of Canada & US – 1 (647) 362-9199; Passcode: 4915537
You may also access the conference call on a listen-only basis via webcast at our website www.kinross.com. The
audio webcast will be archived on www.kinross.com.
Virtual Annual Meeting of Shareholders
Kinross’ virtual Annual Meeting of Shareholders will be held on Wednesday, May 8, 2024, at 10:00 a.m. EDT.
The virtual meeting will be accessible online at: web.lumiagm.com/#/429018094. The link to the virtual meeting will
also be accessible at www.kinross.com and will be archived for later use.
Voting and participation instructions for eligible shareholders are provided in the Company’s Notice of Annual
Meeting of Shareholders and Management Information Circular .
This release should be read in conjunction with Kinross’ 2024 first-quarter unaudited Financial Statements and
Management’s Discussion and Analysis report at www.kinross.com. Kinross’ 2024 first-quarter Financial
Statements and Management’s Discussion and Analysis have been filed with Canadian securities regulators
(available at www.sedarplus.ca) and furnished with the U.S. Securities and Exchange Commission (available at
www.sec.gov). Kinross shareholders may obtain a copy of the financial statements free of charge upon request to
the Company.