a leading senior gold producer · 2021. 5. 17. · andre leite, p.eng , ausimm cp (min), meng, vice...

A Leading Senior Gold Producer …LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS WITH EXPLORATION UPSIDE

BofA Global Metals, Mining & Steel Conference |

May 18 – 20, 2021

FORWARD-LOOKING STATEMENTS

Cautionary Note Regarding Forward-Looking Information

The information in this presentation has been prepared as at May 18, 2021. This presentation contains “forward-looking statements” and "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Kirkland Lake Gold with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and include information regarding: (i) changes in Mineral Resource estimates, potential growth in Mineral Resources, conversion of Mineral Resources to proven and probable Mineral Reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management; (ii) the amount of future production over any period; (iii) assumptions relating to revenues, operating cash flow and other revenue metrics set out in the Company's disclosure materials; and (iv) future exploration plans.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Kirkland Lake Gold's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Kirkland Lake Gold believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the future development and growth potential of the Canadian and Australian operations; the future exploration activities planned at the Canadian and Australian operations and anticipated effects thereof; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation. Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves. This forward-looking information may be affected by risks and uncertainties in the business of Kirkland Lake Gold and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Kirkland Lake Gold, including its annual information form for the year ended December 31, 2020, and the financial statements and related MD&A for the financial year ended December 31, 2020 and for the interim period ended March 31, 2021, which are filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Kirkland Lake Gold has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Kirkland Lake Gold does not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

All dollar amounts in this presentation are expressed in U.S. dollars except as otherwise noted.

Use of Non-IFRS Measures

This Presentation refers to average realized price, operating costs, operating costs per ounce sold, all-in sustaining cost (“AISC”) per ounce of gold sold, free cash flow, sustaining capital expenditures and growth capital expenditure because certain readers may use this information to assess the Company’s performance and also to determine the Company’s ability to generate cash flow and meet its expenditure requirements. This data is furnished to provide additional information and are non-IFRS measures and do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”). These measures should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and are not necessarily indicative of operating costs presented under IFRS. Refer to each Company’s most recent MD&A for a reconciliation of these measures. The most comparable IFRS Measure for operating cash costs, operating cash costs per ounce sold and AISC per ounce sold is production costs as presented in the Consolidated Statements of Operations and Comprehensive Income, while total additions and construction in progress are the most comparable measures for sustaining and growth capital expenditures.

FORWARD-LOOKING STATEMENTS

2

http://www.sedar.com/

OTHER CAUTIONARY

DISCLOSURES

Cautionary Note to U.S. Investors - Mineral Reserve and Resource Estimates

All resource and reserve estimates included in this presentation or documents referenced in this news release have been prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the "CIM Standards"). NI 43-101 is a rule developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. The terms "mineral reserve", "proven mineral reserve" and "probable mineral reserve" are Canadian mining terms as defined in accordance with NI 43-101 and the CIM Standards. These definitions differ materially from the definitions in SEC Industry Guide 7 ("SEC Industry Guide 7") under the United States Securities Act of 1933,as amended, and the Exchange Act.

In addition, the terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101 and the CIM Standards; however, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the U.S. Securities and Exchange Commission (the "SEC"). Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in very limited circumstances. Investors are cautioned not to assume that all or any part of a mineral resource exists, will ever be converted into a mineral reserve or is or will ever be economically or legally mineable or recovered.

Qualified Persons

Natasha Vaz, P.Eng., Chief Operating Officer, is a "qualified person" as defined in NI 43-101 and has reviewed and approved disclosure of the Mineral Reservestechnical information and data for the Canadian Assets (excluding Detour) included in this presentation.

Eric Kallio, P. Geo., Senior Vice President, Exploration is a “qualified person” as defined in NI 43-101 and has reviewed and approved disclosure of the MineralResource technical information and data for the Canadian Assets (excluding Detour) included in this presentation.

Andre Leite, P.Eng , AUSIMM CP (MIN), MEng, Vice President, Technical Services, is a "qualified person" as defined in NI 43-101 and has reviewed and approveddisclosure of the Mineral Reserves and Mineral Resources technical information and data for Detour included in this presentation.

OTHER CAUTIONARY DISCLOSURES

3

KL: HIGH QUALITY SENIOR GOLD PRODUCER

Highly-quality assets with growth

▪ Detour Lake, Macassa, Fosterville

▪ Assets located in Canada and Australia

▪ Highly profitable, FCF generating operations

▪ Value enhancing growth projects

▪ Significant exploration upside

Effective Strategy

▪ Portfolio of high-quality assets with growth

▪ Acquisitions with transformational potential

▪ Value creation with the drill bit

▪ Continuous improvement

Financial Strength

▪ $792M of cash (March 31, 2021)

▪ Zero Debt

▪ Track record of disciplined capital allocation

▪ Committed to returning capital to shareholders

Strong ESG Focus

▪ Published 2021 Sustainability Report

▪ Industry leader in limited carbon emissions

▪ Significant community investment

▪ Improving governance practices

4


▪ Emissions intensity in 2020 of 0.32 tonnes CO2-e per ounce of gold produced, which is 67% lower than the WGC average

▪ Pledged to achieve net-zero carbon emissions by 2050 or earlier

• Commitment to invest $75M/year for five years

o Advancing and commercializing alternative fuels and energies

o Creating the mines of the future through greater use of digitization, automation and connectivity

o Investing in communities to support mental health, homelessness, addiction, senior care and youth training and development

55

RESPONSIBLE GOLD MINING:SIGNIFICANT PROGRESS IN 2021

5

Q1 2021: SOLID RESULTS

(MAY 6, 2021)

▪ Production of 302,847 oz beat guidance

▪ Unit costs better than planned

o Op. cash costs(1): $542/oz

o AISC(1): $846/oz

▪ Solid earnings and cash flow

o Adj. net earnings(1): $167.8M or $0.63/share

o Op. cash flow $208.2M, FCF(1) $42.7M

▪ Returned $96.6M to shareholders

o $50.3M for $0.1875/share dividend

o $46.3M to repurchase 1.1M shares

(1) Example of Non-IFRS measures, see Slide 2 for more information about Non-IFRS measures.

6

Q1 2021 GOLD PRODUCTION(Thousands of Ounces)

1) Refers to All-In Sustaining Costs per ounce sold (See Non-IFRS Measures section in forward-looking statements slide).

2021 Production Guidance (kozs)

Full-Year Guidance 1,300 – 1,400

Half-Year Guidance H1 2021 H2 2021

600 – 650 700 – 750

Quarterly Guidance Q1 Q2 Q3 Q4

270 – 290 330 – 360

Actual 302.8

2021: Q1 BEAT, POISED FOR THREE STRONG QUARTERS

7

2021 AISC(1) Guidance ($/oz)

Full-Year Guidance $790 – $810

Half-Year Guidance H1 2021 H2 2021

~$900 ~$700

Quarterly Guidance Q1 Q2 Q3 Q4

~$1,000 ~$900

Actual $846

146.747.4

108.7

Detour Lake Macassa Fosterville

Q1 2021 AISC(1)

(Dollars per Ounce)

$1,064$947

$423

Detour Lake Macassa Fosterville

KL Average: $846/oz

KL Total: 302.8

Fosterville

Sustainable, very profitable operation, highly leveraged to exploration success

Key catalyst: ~$90M exploration program in 2021

Key FactsReserves: 1.8 Mozs @ 15.4 g/t(1)

2020 Production: 640.5koz

Guidance:(3) 2021: 400 – 425 koz2022: 325 – 400 koz2023: 325 – 400 koz

ASIC(4)(5) in Q1 2021: $423/oz

1) See information on Mineral Reserve and Mineral Resource estimates at end of full presentation and in the press release dated February 25, 2021.

2) Pro forma for 12 months ended December 31, 2020.

Macassa

Building a new, more profitable mine with outstanding exploration upside

Key catalyst: Completion of #4 Shaft in H2 2022

Key FactsReserves: 2.3 Mozs @ 20.1 g/t(1)

2020 Production: 183.0 kozs

Guidance:(3) 2021: 220 – 255 koz2022: 295 – 325 koz2023: 400 – 425 koz

Target AISC(4)(5) post shaft project: <$600/oz

Detour

Transformational value creation through exploration drilling & investment

Key catalyst: Release of 2022 LOM plan

Key FactsReserves: 13.8 Mozs @ 0.96 g/t (>0.5 g/t COG)(1)

2020 Production: 563.3 kozs(2)

Guidance:3 2021-244: 680 – 720 koz2025: 800 koz2032: 900koz

Target 5-year ASIC/oz(4)(5): $775

3) See press release dated December 10, 2020 for more information on the Company’s 2021 and 3-year production guidance4) See Non-IFRS Measures section in forward-looking statements 5) Refers to all-in sustaining costs

POSITIONED FOR SIGNIFICANT VALUE CREATION

8

KL: PROVEN APPROACH TO VALUE CREATION

9

ACQUIRE

EXPLORE

DEVELOP

OPERATE

1) Foxpoint Resources Inc. acquired Macassa for $5M in 2002 and later that year changed its name to Kirkland Lake Gold Inc. (“KLGI”). KLG I became Kirkland Lake Gold Ltd. through a business combination with Newmarket Gold Inc. in 2016, which resulted in the addition of the Fosterville Mine.2) See Non-IFRS Measures section in forward-looking statements slide.3) Co-product basis.

MANAGE RISK

▪ Acquire assets with substantial value upside through exploration drilling and investment▪ Macassa acquired in 2002 for $5M(1), discovery of South Mine Complex in 2005▪ Fosterville (2016) and Detour (2020) amongst best sector acquisitions in recent history

▪ Drill early and aggressively where exploration potential identified to benefit long-term capital investment strategy

▪ Demonstrated success at all three core assets

▪ Disciplined investment in significant growth projects at Detour and Macassa▪ Projects driving value enhancement: growing production to 800 kozs at Detour; adding 150 – 200

kozs/year at Macassa, accessing new orebody at Robbin’s Hill

▪ Operating excellence combined with quality of assets key drivers of industry leading earnings and cash flows (2020)

▪ Lowest AISC/oz(2)(3) of senior producers

▪ Strong balance sheet, internally fund growth projects, exploration▪ Considerable in-house expertise to manage technical and operating risk▪ Well positioned to benefit from, but not reliant on, high gold prices

EXPLORE• Extensive exploration phase

• Continuous corridor of mineralization in Saddle Zone

• Expanding orebody to west

10

Detour Lake

DEVELOP• Plant expansion to 28M T/Y

• Growing fleet, investing in tailings, welding/maintenance shops, assay lab, airfield

OPERATE• Growing production to 680 – 720

kozs 2021 – 2024, 800 kozs 2025

• Improving AISC to <$900/oz in 2021 ($775/oz 2021 – 2025)

Macassa

EXPLORE• Extending SMC in all directions

• Significant L/T exploration upside along Main/’04 and Amalgamated Breaks

DEVELOP• #4 Shaft creates new mine, higher

production, improved unit costs, new phase of exploration

OPERATE• Growing to 220 – 255 kozs in

2021, 400 – 425 kozs by 2023

• AISC to improve to ~$800/oz in 2021, <$600/oz with #4 Shaft

Fosterville

EXPLORE• Highly leveraged to exploration

success

• Multiple large gold systems, all containing quartz with VG

DEVELOP• Twin exploration drive (with

production capability) to Robbin’s Hill part of establishing second mining operation

OPERATE• Creating sustainable, highly-

profitable operation, 400 –

425 kozs in 2021 with AISC of $400 – $500/oz

KL: PROVEN APPROACH TO VALUE CREATION

313.7

596.4

723.7

974.6

1,369.7

2016 2017 2018 2019 2020

STRONG PRODUCTION GROWTH(KOZS)

$930

$812

$685

$564

$800

$571

$481

$362

$284

$404

2016 2017 2018 2019 2020

AlSC Op. Cash Costs

LOW UNIT COSTS(1)

(US$/oz)

1) Refers to All-In Sustaining Costs per ounce sold (See Non-IFRS Measures section in forward-looking statements slide).

Consolidated 3-Year Guidance

2021: 1,300 – 1,400 kozs

2022: 1,300 – 1,445 kozs

2023: 1,405 – 1,545 kozs

STRONG PRODUCTION GROWTH, LOW UNIT COSTS

11

Consolidated 2021 Guidance

Op. cash costs(1): $450 – $475/oz

AISC(1): $790 – $810/oz

$42.1$0.35/share

$132.4$0.64/share

$273.9$1.30/share

560.1$2.67/share

$787.7$2.91/share

2016 2017 2018 2019 2020

STRONG EARNINGS GROWTH ($ MILLIONS)

$114

$178

$255

$463

$733

2016 2017 2018 2019 2020

FREE CASH FLOW(1)

($ MILLIONS)

1) See Non-IFRS Measures section in forward-looking statements slide.

STRONG GROWTH IN EARNINGS AND CASH FLOWS

12

13

Street NAVPS (US$ / share)(1)

LTM CFPS (US$ / share)(2)

LTM Production (oz / 000 shares)(2)

Reserves (oz / 000 shares)

Track Record of Consistent Value Added for Shareholders

--

$10

$20

$30

$40

2016 2017 2018 2019 2020 2021

NA

VP

S (U

S$ /

sh

are

)

Sources: Company filings, street researchNote: Weighted average basic shares outstanding from financial statements for each respective quarter.1) Median of street estimates as compiled by BMO Capital Markets.2) LTM cash flow per share (based on Cash Flow from Operating Activities) and production per share calculated as the sum of previous four quarters of per share figures using weighted average shares outstanding for each respective quarter.

--

1

2

3

4

5

2016 2017 2018 2019 2020 2021

LTM

Pro

du

ctio

n

(oz

/ 00

0 sh

are

s)

--

15

30

45

60

75

90

2016 2017 2018 2019 2020 2021

Re

serv

es

(oz

/ 00

0 sh

are

s)

--

$1.00

$2.00

$3.00

$4.00

$5.00

2016 2017 2018 2019 2020 2021

LTM

CFP

S (U

S$ /

sh

are

)

BUILDING PER SHARE VALUE

13

14

2021E Gold Production Guidance

2021E AISC Guidance(3)

% of Gold Production in USA, Canada and Australia(4)

Mine Life Index(5)

6,500

4,550

2,800

2,400

2,325

2,050

2,048

1,600

1,350

703

Newmont

Barrick

AngloGold

Kinross

Gold Fields

Newcrest

Agnico Eagle

Northern Star

Kirkland Lake

Evolution

$800

$915

$918

$970

$975

$995

$1,025

$1,040

$1,135

$1,180

Kirkland Lake

Newcrest

Evolution

Newmont

Agnico Eagle

Barrick

Kinross

Gold Fields

Northern Star

AngloGold

21.6

20.6

14.9

12.9

12.3

11.9

11.6

9.9

9.5

9.1

Newcrest

Gold Fields

Kirkland Lake

Evolution

Barrick

Newmont

Northern Star

Agnico Eagle

Kinross

AngloGold

Sources: Company filingsNote: 2021E Production and AISC taken as mid point of guidance, when available.1) Based on gold equivalent.2) FY21 guidance.3) Shown on a by-product basis.

100%

100%

100%

74%

59%

58%

49%

47%

32%

20%

Kirkland Lake

Northern Star

Evolution

Agnico Eagle

Newcrest

Newmont

Barrick

Gold Fields

Kinross

AngloGold

(2)

(2)

(1)

(2)

(2)

4) Based on geographical split of 2020 production.5) Mine life index defined as 2020 year end producing gold reserves divided by 2021E gold production guidance.

(2)

(2) (1)

POSITIONING VERSUS PEER GROUP

14

15

Valuation Versus Peer Group

15

P / NAV (ratio)

EV / 2021E EBITDA (ratio)

EV / 2021E Production(1)

(US$ 000 / oz)EV / Gold Reserves

(US$ / oz)

1.6x

1.5x

1.4x

1.3x

1.2x

1.2x

1.1x

1.0x

1.0x

0.9x

Newmont

Agnico Eagle

Barrick

Kirkland Lake

Evolution

Gold Fields

AngloGold

Northern Star

Newcrest

Kinross

9.3x

8.5x

8.3x

8.1x

7.7x

7.4x

6.2x

5.4x

4.8x

4.7x

Agnico Eagle

Evolution

Newmont

Northern Star

Newcrest

Barrick

Kirkland Lake

Kinross

AngloGold

Gold Fields

Sources: Company filings, FactSet as at May 14, 2021Note: P / NAV and EV / EBITDA multiples based on street consensus estimates as compiled by BMO Capital Markets.1) Mid-point of 2021E guidance where available.2) Based on FY21 guidance.3) Based on gold equivalent.

$9.3

$9.3

$9.1

$9.0

$8.7

$7.7

$6.0

$4.8

$4.5

$3.8

Evolution

Barrick

Agnico Eagle

Newmont

Newcrest

Kirkland Lake

Northern Star

Gold Fields

Kinross

AngloGold

$671

$624

$622

$622

$513

$495

$360

$359

$358

$223

Agnico Eagle

Barrick

Newmont

Evolution

Kirkland Lake

Northern Star

Kinross

AngloGold

Newcrest

Gold Fields

(2)

(2)

(2)

(3)

15

▪ Returned $944.9M to shareholders since beginning of 2020 through share repurchases and dividends

o Equates to $3.54 per share and $565 per ounce of production(1)

▪ Repurchased 20,000,000 shares since beginning of 2020 for $778.7 million

o 18,925,900 shares in 2020 for $732.4 million

o 1,074,100 shares repurchased in Q1 2021 for $46.3 million

▪ $166.2 million paid in dividends since beginning of 2020

o Dividend tripled in 2020 through two increases ($115.9 million paid in 2020)

o $50.3 million paid in Q1 2021 for Q4 2020 dividend of $0.1875/share

o Q1 2021 dividend of $0.1875/share paid on April 14, 2021

50% Increase effective Q4 2020

16

TRACK RECORD RETURNING CAPITAL TO SHAREHOLDERS

1) Based on production of 1,672,499 ounces (1,369,652 ounces in FY 2020 plus 302,847 ounces in Q1 2021)

C$0.01 C$0.01 C$0.02C$0.02 C$0.03 C$0.03

C$0.04 C$0.04

US$0.04 US$0.04

US$0.06

US$0.125 US$0.125 US$0.125

$0.1875 $0.1875

Q 2 2 0 1 7 Q 3 2 0 1 7 Q 4 2 0 1 7 Q 1 2 0 1 8 Q 2 2 0 1 8 Q 3 2 0 1 8 Q 4 2 0 1 8 Q 1 2 0 1 9 Q 2 2 0 1 9 Q 3 2 0 1 9 Q 4 2 0 1 9 Q 1 2 0 2 0 Q 2 2 0 2 0 Q 3 2 0 2 0 Q 4 2 0 2 0 Q 1 2 0 2 1

KL: DISCIPLINED CAPITAL ALLOCATION

Strategic Principles and Track Record

▪ Maintain strong balance sheet ($792M in cash, no debt)

▪ Drill aggressively where exploration potential exists

▪ Commit capital to projects capable of generating attractive returns

▪ Track record of returning capital to shareholders

▪ Continuous M&A evaluation in search of value creation opportunities

o Strong track record for acquiring assets with substantial value upside

1) Assumes mid-point of full-year 2021 production guidance (1,300,000 – 1,400,000 ounces)..2) Example of Non-IFRS Measure”, See Slide 2 for disclosures related to Non-IFRS Measures

17

▪ Large base of Mineral Reserves supports 22-year production life (Reserves & Resource estimates as at Dec. 31, 2020)1)

o Mineral Reserves of 13.8M ozs @ 0.96 g/t, 2.M ozs of low-grade at 0.41 g/t to be mined at end of mine lifeo M&I Mineral Resources of 4.7M ozs @ 1.10 g/t, Underground: 0.5M ozs @ 5.80 g/to Inferred Mineral Resources of 1.5M ozs @ 0.87 g/t, Underground: 0.1M ozs @ 4.35g/t

▪ New NI 43-101 technical report (including 2021 LOMP) issued in March 2021 o Interim report – to be superseded by new plan in 2022 incorporating drilling success, full impact of business improvement

initiatives

▪ Annual production increasing to 680 – 720 kozs 2021 – 2024, 800 kozs 2025 and 900 kozs by 2032

▪ AISC(4)(5) to average $775/oz in first five years (2021 – 2025)

▪ Targeting significant growth in Mineral Reserves through extensive drilling

•

Detour Lake

Holt Complex

Macassa

Ontario

1) As at December 31, 2020. Refer to Reserve and Resource Statements in Appendix of this presentation2) Pro forma for the twelve months ended December 31, 2020.3) Included in the Company’s production guidance for 2021 (see press release dated December 10, 2020).4) Example of Non-IFRS measures, see Slide 2 for more information about Non-IFRS measures 5) Refers to all-in sustaining costs.

DETOUR LAKE: RIGHT DEAL AT THE RIGHT TIME

18

Exploration Success to be Included in 2022 Technical Report, LOM Plan

21.1

24.5 25.527.0 27.8 28.0

2020 2021(F) 2022(F) 2023(F) 2024(F) 2025(F)

ESTIMATED ANNUAL PROCESSING TONNES

KEY PROJECTS

SECONDARY CRUSHER SCREENS

GRAVITY FEED SYSTEM

610 REFEED

LEACH TANK EXPANSION

DETOX TANK

CIP DEBOTTLENECKING ▪ Previous permit was for max. 75,000 per day

▪ Daily limit reached 70 times in 2020

▪ New 32.8M per year permit provides greater flexibility and throughput volume upside

(F) - Forecast

PERMIT RECEIVED FOR 32.8M TPA

19

20

▪ Production schedule plan targets maximum discounted cash-flow

▪ 2027/2028: includes reclaiming of stockpiles

706 706 691 715

800

735

675

518

596

701

808

916 915 902 890 896

517549

326354

379

204

0.97 0.93 0.87 0.870.96

0.890.82

0.630.73

0.850.97

1.10 1.09 1.08 1.07 1.07

0.63 0.67

0.400.47 0.44 0.44

0.0

0.5

1.0

1.5

2.0

2.5

3.0

0

100

200

300

400

500

600

700

800

900

1000

2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043

Hea

d G

rad

e d

(g/t

)

Rec

ove

red

Ou

nce

s (T

ho

usa

nd

s) 2021 LOMP GOLD PRODUCTION

Recovered Ounces Recovered Ounces - LG Stock Head Grade Mill Cut-Off Grade

2021 LOMP PRODUCTION SCHEDULE

CAPTURE SYNERGIES ▪ Centralizing functions

(Timmins Hub opened in Q3 2020)

▪ Renegotiate contracts to capture global pricing advantages

▪ Enhancing finance and procurement systems and procedures

▪ Invest in technology and innovation to reduce carbon emissions

▪ Build mine of the future with digitization and automation

▪ Support communities and strengthen relationships

DRIVE FOR SUSTAINABILITY OPTIMIZE PROCESSES

▪ Optimize pit design, expand drilling and blasting capacity

▪ Improve ore fragmentation▪ Maximize plant throughput

and recoveries ▪ Expand fleet maintenance

capacity and effectiveness

▪ Invest to achieve 28M tonnes per year by 2025 (permitted to 32.8M tonnes)

▪ Employ greater selectivity to optimize grade

▪ Complete 272,000 drill program in 2021 to realize full exploration upside

ACHIEVE FULL POTENTIAL

21

VALUE ENHANCEMENT – CURRENT PRIORITIES

DETOUR LAKE

OUR VISION: TO TRANSFORM DETOUR LAKE MINE INTO ONE OF THE WORLD’S LARGEST AND MOST PROFITABLE GOLD MINES

22

DETOUR LAKE: A STORY OF TRANSFORMATION

$426 $414

$573

$450 – $470

2018 2019 2020(9M) 2021(F)

241

183

220 – 255

295 – 325

400 – 425

2019 2020 2021(F) 2022(F) 2023(F)

▪ Macassa is a high-grade underground mine located in Ontario, Canada

▪ High-grade Mineral Reserve base (Reserves & Resource estimates as at Dec. 31, 2020)(1)

o Mineral Reserves of 2.3M ozs @ 20.1 g/t, Near Surface: 0.1M ozs @ 8.7 g/t

o M&I Mineral Resources of 0.7M ozs @ 13.3 g/t, Near Surface: N/A

o Inferred Mineral Resources of 0.7M ozs @ 17.0 g/t, Near Surface: N/A

▪ One of the lowest GHG emitters in the world• World leader in the use of battery-powered equipment

▪ Sinking new #4 Shaft – Target completion late 2022• Expected to grow gold production to over 400 koz per year at lower unit costs by 2023

▪ Significant exploration success being achieved • Extending South Mine Complex to east and west, identifying high-grade mineralization along the

Amalgamated Break, identified new, high-grade corridor along Main Break near new shaft location

▪ FY 2020 production and unit costs significantly impacted by COVID-19 and extreme heat

(1) As at December 31, 2020 Refer to Reserve and Resource Statements in Appendix of this presentation(2) Example of Non-IFRS measures, see Slide 2 for more information about Non-IFRS measures

Refer to Slide 2 “Cautionary Language” regarding forward-looking information

Gold Production (koz) Op. Cash Costs (US$/oz)(2)

Detour Lake

Holt ComplexMacassa

Ontario

Building a new, modern mine with exceptional upside

(F): Forecast

MACASSA: GROWING TO OVER 400 KOZS PER YEAR

23

Shaft #4 Work Completed to Q1 2021:

▪ Sinking advanced 760’ to 5,000’ (as at March 31, 2021)

▪ On target for completion in late 2022

▪ Currently over one month ahead of schedule

Underground Infrastructure

• Ventilation Upgrades

• New Shop

Mill Enhancements

Near-Surface Ramp

24

EXCELLENT PROGRESS WITH MAJOR PROJECTS

FOSTERVILLE Q2 2019 MINE PLAN

MACASSA MINERALIZED ZONES

MACASSA: KEY TARGETS INCLUDE SMC, AMALGAMATED BREAK AND MAIN BREAK

• 2021 Budget: Drilling – 209km UG (SMCE, LWSMC, AMG, MB), 24 km Surface ramp, 19km surface: Development - 2.3km ( 5305E, 5807E, 5305W, 5705W, 5150W and 3410 Inc)

• Progress in Q1: 47k m of drilling and 443m of development

SMCE: D: 73km, Q1:21k

MB/SMCE 5807: D: 12k m

MB/AMG (34Lv): D: 24km, Q1: 2k

Surface Ramp: 24k m, Q1: 4k

51 Lv

61 Lv

Targeting ~100-150k ozsReserve Replacement

AMG: D: 35k m, Q1: 8k

Surface Targets: 19km

MB West:

SMCW: D: 65km, Q1: 11k

Targeting ~100-150k ozsReserve Replacement

25

MACASSA – SIGNIFICANT EXPLORATION POTENTIAL

Main/’04 Break

Amalgamated Break

#4 SHAFT PROJECT

SMC

Significant Exploration Potential Along Main/’04 and Amalgamated Breaks Across the KL Camp

#3 SHAFT

#4 SHAFT

26

EXCEPTIONAL GRADES NEAR CONTACT OF SMC & AMALGAMATED BREAK

27

Amalgamated Break

57-992253.7 gpt/14.5m

57-90048.2 gpt/2.0m

53-4033210.4 gpt/8.2m

53-404152.9 gpt/2.0m

NEW HIGH-GRADE CORRIDOR ALONG MAIN BREAK

28

#4 Shaft Location

5700 L Exploration Drift

Main Break Corridor6800’ Below Surface

53-4052141.1/2.4

▪ 700m long, 300m high high-grade corridor close to location of #4 Shaft (currently under development)

$200

$119$132

$230 – $250

2018 2019 2020 2021(F)

619 640

400–425 325–400 325–400

2019 2020 2021(F) 2022(F) 2023(F)

▪ Fosterville is a high-grade, low cost-underground mine located in Victoria State, Australia

▪ High-grade Mineral Reserve base (Reserves & Resource estimates as at Dec. 31, 2020)(1)

o Mineral Reserves of 1.8M ozs at 15.4 g/t, Robbin’s Hill: 0.2M ozs @ 5.3 g/to M&I Mineral Resources of 1.4M ozs @ 5.6 g/t, Robbin’s Hill: 0.3M ozs @ 4.8 g/to Inferred Mineral Resources of 1.3M ozs @ 6.5 g/t, Robbin’s Hill: 0.5M ozs @ 6.0 g/t

▪ Record FY 2020 production of 640.5 kozs, 3% increase from 619.4 kozs in 2019

▪ FY 2020, op. cash costs(2) of $139/oz and AISC(2)(3) of $312/oz

▪ Reducing production to increase sustainability of operations while exploration continues

▪ Substantial exploration potential – Lower Phoenix (including Swan Zone), Robbin’s Hill, Cygnet and Harrier

▪ Robbin’s Hill provides potential for second mining operation to feed Fosterville Mill

Fosterville

Northern Territory

Australia

(1) As at December 31, 2020. Refer to Reserve and Resource Statements in Appendix of this presentation(2) Example of Non-IFRS measures, see Slide 2 for more information about Non-IFRS measures (3) Refers to all-in sustaining costs

Gold Production (koz)

Refer to Slide 2 “Cautionary Language” regarding forward-looking information

Op. Cash Costs ($/oz)(2)

Low-cost operations – Highly leveraged to continued exploration success

(F): Forecast

FOSTERVILLE: HIGHLY PROFITABLE PRODUCTION

29

Sustainable, low-cost operations – Highly leveraged to exploration success

FOSTERVILLE: $85 – $95M EXPLORATION PROGRAM

Key 2021 Drilling Targets

Growth Development Q1 2021 – 1,802m vs 1,873 m BudgetGrowth Development Budget FY 2021 – 5,683 m

Growth Drilling Q1 2021 – 38,391 m vs 47,504 m BudgetGrowth Drilling Budget FY 2021 – 231,861 m

2021 Priorities

▪ Targeting 950m down-plunge extension of Lower Phoenix

▪ Continued drilling of Curie and Herschel Faults at Robbin’s Hill

▪ Underground drilling at Robbin’s Hill from new exploration drive to commence late 2021

▪ Additional targets at Cygnet, Harrier and Daley’s Hill

30

KL: HIGH QUALITY SENIOR GOLD PRODUCER

Highly-quality assets with growth

▪ Detour Lake, Macassa, Fosterville

▪ Assets located in Canada and Australia

▪ Highly profitable, FCF generating operations

▪ Value enhancing growth projects

▪ Significant exploration upside

Effective Strategy

▪ Portfolio of high-quality assets with growth

▪ Acquisitions with transformational potential

▪ Value creation with the drill bit

▪ Continuous improvement

Financial Strength

▪ $792M of cash (March 31, 2021)

▪ Zero Debt

▪ Track record of disciplined capital allocation

▪ Committed to returning capital to shareholders

Strong ESG Focus


▪ Industry leader in limited carbon emissions

▪ Significant community investment

▪ Improving governance practices

31

APPENDIX

FOSTERVILLE MACASSA DETOUR LAKE

32

Goal: Invest $75M for 5 Years

Kirkland Lake Gold realizes that future success in gold mining means a commitment to technology, innovation and investing in new areas

Focus Areas:

Reduce Carbon Footprint (Alternative Fuels & Energy)

Building Smart Mines (Communications & Connectivity)

Invest in our communities (Mental Health, Addiction, Homelessness, senior care, youth training & development

INVESTING IN THE MINES OF THE FUTURE

33

FY 2020:RECORD OPERATING AND FINANCIAL RESULTS

1. See Non-IFRS Measures section in forward-looking statements slide2. Refers to earnings before Interest, Taxes, Depreciation, and Amortization.3. Refers to all-in sustaining costs.

▪ Adjusted net earnings1 of $922.9M or $3.41 per share (Net earnings: $787.7M or $2.91 per share)

• Adjusted net earnings exclude increase in environmental provision, F/X losses, COVID-19 response and restructuring costs

▪ Op. cash flow of $1,315.8M, free cash flow1 $733.1M

▪ EBITDA1,2 of $1,543.6M

▪ Production: 1,369,652 ozs; Sales: 1,388,944 ozs

▪ Op. cash costs1 of $404/oz (excluding Detour Lake: $264/oz)

▪ AISC1,3 of $800/oz (excluding Detour Lake: $566/oz)

34

Q1 2021: SOLID RESULTS ▪ Production of 302,847 oz beat guidance

▪ Unit costs better than planned

o Op. cash costs(1): $542/oz

o AISC(1): $846/oz

▪ Solid earnings and cash flow

o Adj. net earnings(1): $167.8M or $0.63/share

o Op. cash flow $208.2M, FCF(1) $42.7M

▪ Returned $96.6M to shareholders

o $50.3M for $0.1875/share dividend

o $46.3M to repurchase 1.1M shares


35

Q4 2020:RECORD RESULTS AND BEST QUARTER OF 2020

1. See Non-IFRS Measures section in forward-looking statements slide2. Refers to earnings before Interest, Taxes, Depreciation, and Amortization.3. Refers to all-in sustaining costs.

▪ Production: 369,434 ozs; Sales: 371,009 ozs

▪ Op. cash costs1 of $396/oz (excluding Detour Lake: $245/oz)

▪ AISC1,3 of $790/oz (excluding Detour Lake: $496/oz)

▪ Adjusted net earnings1 of $265.8M or $0.98 per share (Net earnings: $232.6M or $0.86 per share)

• Adjusted net earnings exclude increase in environmental provision, F/X losses and restructuring costs

▪ Op. cash flow of $420.9M, free cash flow1 $232.4M

▪ EBITDA1,2 of $458.1M

36

FY 2020: ACHIEVED ALL FULL-YEAR GUIDANCE

1. See Non-IFRS Measures section in forward-looking statements slide2. Includes general and administrative costs and severance payments. Excludes non-cash share-based payment expense

$ million unless otherwise states

2020 Guidance

FY 2020 Actuals

AISC ($/oz)1 $790 – $810 $800

Operating cash costs1 $560 – $580 $561.1

Royalty expense $80 – $85 $85.5

Sustaining capital1 $390 – $400 $396.2

Growth capital1 $95 – $105 $92.5

Exploration $130 – $150 $122.7

Corporate G&A2 $50 – $55 $50.3

Macassa Detour Lake Holt Complex Fosterville2020

GuidanceFY 2020 Actuals

Production – 2020 guidance (kozs) 210 – 220 520 – 540 29 590 – 610 1,350 – 1,400

Production – FY 2020 (ozs) 183,037 516,757 29,391 640,467 1,369,652

Op. cash costs ($/oz)1 $490 – $510 $610 – $630 $955 $130 – $150 $410 – $430

Op. cash costs – YTD 2020 ($/oz) 1 562 625 981 139 $404

37

1. See Non-IFRS Measures section in forward-looking statements slide2. Includes general and administrative costs and severance payments. Excludes non-cash share-based payment expense

$ million unless otherwise states

2021 Guidance

Q1 2021

AISC ($/oz)1 $790 – $810 $846

Operating cash costs1 $600 – $630 $167.0

Royalty expense $82 – $88 $18.4

Sustaining capital1 $280 – $310 $60.5

Growth capital1 $250 – $275 $46.3

Exploration $170 – $190 $42.4

Corporate G&A2 $50 – $55 $13.5

Macassa Detour Lake Fosterville2021

Guidance

Production – 2021 guidance (kozs) 220 – 255 680 – 720 400 – 425 1,300 – 1,400

Q1 2021 Production (ozs) 47,437 146,731 108,679 302,847

Op. cash costs ($/oz)1 $450 – $470 $580 – $600 $230 – $250 $450 – $475

Q1 2021 Op. cash costs ($/oz) $699 $748 $228 $542

Kozs 2021 2022 2023

Macassa 220 – 255 295 – 325 400 – 425

Detour Lake 680 – 720 680 – 720 680 – 720

Fosterville 400 – 425 325 – 400 325 – 400

Consolidated 1,300 – 1,400 1,300 – 1,445 1,405 – 1,545

Three-Year Production Guidance

ON TRACK TO ACHIEVE FY 2021 GUIDANCE

38

$179.2$0.70/share

$265.8$0.98/share

$167.8$0.63/share

Q 1 2 0 2 0 Q 4 2 0 2 0 Q 1 2 0 2 1

$202.9$0.79/share

$232.6$0.88/share

$161.2$0.60/share

Q 1 2 0 2 0 Q 4 2 0 2 0 Q 1 2 0 2 1

Q1 2021EARNINGS

Q1 2021 ADJUSTED NET EARNINGS1 ($ MILLIONS)

Q1 2021 NET EARNINGS ($ MILLIONS)

Difference Between Net Earnings and Adjusted Net Earnings In Q1 2021

1. See Non-IFRS Measures section in forward-looking statements slide

Q1 2021 EPS $0.60

Exclude:

Asset Impairment $0.02

Non-cash F/X gain ($0.01)

Non-operating sites costs $0.01

COVID-19 related costs $0.01

Q1 2021 Adjusted EPS $0.63

39

Q1 2021 REVENUE

Q1 2020 Q4 2020 Q1 2021

Gold sales (kozs) 344.6 371.0 308.0

Gold price ($/oz) 1,586 1,875 1,788

CONSOLIDATED REVENUE ($ MILLIONSs)

Factors Driving Revenue Growth vs Q1 2020

Rate impact: +$55M

Volume impact: -$58M

Factors Driving Revenue Growth vs Q4 2020

Volume impact: -118M

Rate impact: -22M

$554.7

$691.5

$551.8

Q1 2 0 2 0 Q4 2 0 2 0 Q1 2 0 2 1

40

$391.5

$458.1

$340.9

Q1 2020 Q4 2020 Q1 2021

Q1 2021EBITDA

1

Q1 2021 EBITDA vs Q1 2020

Change in EBITDA is mainly reflected $73M of FX gains in Q1 2020, higher production cost, partially offset by lower transaction costs.

EBITDA1 ($ MILLIONS)

1. See Non-IFRS Measures section in forward-looking statements slide.

Q1 2020 Q4 2020 Q1 2021

Net earnings $202.9 $232.6 $161.2

Finance costs 4.1 (0.4) 0.8

Depletion & Depreciation 92.8 120.9 104.1

Current income taxes 70.1 81.7 43.0

Deferred income taxes 21.5 23.3 31.8

EBITDA $391.5 $458.1 $340.9

* Numbers may not add due to rounding

Q1 2021 EBITDA vs Q4 2020

Change in EBITDA is a result of lower revenue and higher production costs.

41


DETOUR LAKE:SOLID Q1 2021 RESULTS

w

Q1 2021: $1,064 vs $1,108 in Q1 2020, $1,207 in Q4 2020

Q1 2021 Production

146.7 kozs vs 91.5 kozs in Q1 2020, 153.1 kozs in Q4 2020

Operating Cash Costs Per Ounce Sold1

2021 Guidance

AISC Per Ounce Sold1

Production: 680 – 720 kozs

Op. cash costs: $580 – $600/oz

Q1 2021: $748 vs $696 in Q1 2020, $612 in Q4 2020

42

Q1 2021 Tonnes: 5,701,704Grade: 0.87 g/t Recovery: 92.2%Recovered: 146.7 kozs

Q1 2020(1)

Tonnes: 5,612,618Grade: 0.84 g/t Recovery: 91.1%Recovered: 138.1 kozs

Q4 2020Tonnes: 5,829,230Grade: 0.94 g/t Recovery: 91.8%Recovered: 153.1 kozs

(1) Adjusted to reflect full three months of Q1 2020

42

DETOUR LAKE: MAJOR PROGRESS ON CAPITAL PROJECTS

• Major Projects:

• Mill Enhancements

• Tailings Expansion (Cell 2)

• Air Strip

• Cell Tower Construction

• Assay Lab

• Welding Shop

• Surface Infrastructure

• Mobile Equipment Procurement

DETOUR GOLD: THE RIGHT ACQUISITION AT THE RIGHT TIME

43


MACASSA:Q1 2021 RESULTS

Q1 2021 Production47.4 kozs vs 50.8 kozs in Q1 2020, 52.3 kozs in Q4 2020

Operating Cash Costs Per Ounce Sold(1)

2021 Guidance

AISC Per Ounce Sold(1)

Q1 2021: $947 vs $850 in Q1 2020, $941 in Q4 2020



Q1 2021: $699 vs $536 in Q1 2020, $534 in Q4 2020

Q1 2020Tonnes: 82,256 Grade: 19.7 g/t Recovery: 97.7%Recovered: 50.8 kozs

Q1 2021Tonnes: 76,231Grade: 19.8 g/t Recovery: 97.9%Recovered: 47.4kozs

Q4 2020Tonnes: 74,353 Grade: 22.4 g/t Recovery: 97.7%Recovered: 52.3 kozs

(1) Example of Non-IFRS measures, see Slide 2 for more information about Non-IFRS measures.45


FOSTERVILLE:Q1 2021 RESULTS

Q1 2021: $423 vs $313 in Q1 2020, $314 in Q4 2020

Q1 2021 Production

108.6 kozs vs 159.8 kozs in Q1 2020, 164.0 kozs in Q4 2020

Operating Cash Costs Per Ounce Sold(1)

2021 Guidance

AISC Per Ounce Sold(1)



Q1 2021: $228 vs $126 in Q1 2020, $156 in Q4 2020

46

Q1 2021 Tonnes: 174,206Grade: 19.8 g/t Recovery: 98.2%Recovered: 108.6 kozs

Q1 2020Tonnes: 118,701Grade: 42.4 g/t Recovery: 98.8%Recovered: 159.8 kozs

Q4 2020Tonnes: 183,635Grade: 28.1 g/t Recovery: 98.9%Recovered: 164.0 kozs


46

Footnotes Related to Mineral Reserve Calculations1.CIM definitions (2019) were followed in the estimation of Mineral Reserves and all Mineral Reserves have been reported in accordance with NI 43-101. 2.Mineral Reserves were estimated using a long-term gold price of US$1,300/oz (C$1,700/oz; A$1,765/oz). 3.Cut-off grades for Canadian Assets were calculated for each stope, including the costs of: mining, milling, General and Administration, royalties and capital expenditures and other modifying factors (e.g. dilution, mining extraction, mill recovery). 4.Cut-off grades for Australian Assets were calculated for each mining block, including the costs of: mining, milling, General and Administration, royalties and capital expenditures and other modifying factors (e.g. dilution, mining extraction, mill recovery). 5. Mineral Reserves amenable to open pit mining methods at Detour Lake were estimated using a gold price assumption of US$1,300/oz, an exchange rate of 1.31 C$/US$, a 2% net smelter return royalty, refining charge of 0.05%, variable metallurgical recoveries based on a formula, inter-ramp pit slope angles that range from 25.1–56.3º, mining cost of C$3.42/t mined, incremental haulage costs of C$0.019/7.25 m bench at Detour Lake and C$0.15/5 m bench at West Detour and North Pit, process costs of C$9.75/t milled, general and administrative costs of C$3.59/t milled, non-mining sustaining capital costs of C$3.42/t milled, and mining sustaining capital costs of C$0.35/t mined. The estimate is reported above variable optimized cut-off and a minimum cut-off grade of 0.35 g/t Au.6.Dilution estimates vary by mining methods and ranges from 5% to 50%. 7Extraction estimates vary by mining methods and range from 60% to 90%. 8.Mineral Reserves estimates for Canadian Operations (excluding Detour Lake) were prepared under the supervision of Natasha Vaz, P.Eng.9.Mineral Reserve estimates for Detour Lake were prepared under the supervision of Andre Leite, P.Eng , AUSIMM CP (MIN), MEng., Technical Services Manager. 10.Mineral Reserves estimates for Australian Operations were prepared under the supervision of I.Hann, FAusIMM11.Totals may not add up due to rounding.12.Please refer to the Company's Press Release dated February 25, 2021.

Footnotes Related to Mineral Resource Calculations1.Mineral Resources classified in accordance with CIM Definition Standards (2019).2.Mineral Resources for Detour Lake and West Detour project are based on a cut-off grade of 0.50 g/t Au.3.Mineral Resources for Zone 58N are based on a cut-off grade of 2.2 g/t with an assumed mining dilution of 12%.4.Mineral Resources for Macassa and Holt Complex were estimated at the following cut-off grades:• Macassa '04/Main Break: 8.6 g/t• Macassa Near Surface: 3.4 g/t • Macassa SMC: 5.1 g/t• Holt Mine: 2.8 g/t, with the exceptions noted below• Holt Near-Surface Zones: 2.5 g/t (Tousignant, Cascade, North Mattawasaga Pit)• Holloway Mine: 2.8 g/t, with the exception of the Deep Thunder (2.7g/t) and Canamax (2.5 g/t)• Taylor Mine: 2.6 g/t• Hislop Property: 2.2 g/t• Aquarius: 0 g/t cutoff grade.5Fosterville Open Pit Mineral Resources were estimated using cut-off grades ranging between 0.8 g/t Au and 1.0 g/t Au.6.Fosterville Underground Mineral Resources were estimated using cut-off grades ranging between 2.3 g/t Au and 3.1 g/t Au.7.Northern Territory Open Pit Mineral Resources were estimated using a cut-off grade of 0.5 g/t Au.8.Northern Territory Underground Mineral Resources were estimated using a cut-off grades ranging between 1.5 g/t Au and 2.0 g/t Au.9.Mineral Resources were estimated using a gold price of US$1,500/oz and a CAD/USD exchange rate of 1.31 for Detour Lake and West Detour project.10.Mineral Resources were estimated using a gold price of US$1,300/oz and a CAD/USD exchange rate of 1.25 for Zone 58N deposit.11.Mineral Resources were estimated using a gold price of US$1,500/oz and a CAD/USD exchange rate of 1.28 for Macassa and Holt Complex.12.Mineral Resources were estimated using a gold price of US$1,425/oz and an AUD/USD exchange rate of 1.36 for the Australian assets, with the exception of Maud Creek, which was estimated using a gold price of US$1,200 and AUD/USD exchange rate of 1.30.13.Mineral Resources are Exclusive of Mineral Reserves.14.Mineral Resource estimates for the Fosterville Property were prepared under the supervision of Troy Fuller, MAIG.15.Mineral Resource estimates for the Northern Territory properties were prepared under the supervision of Mark Edwards, FAusIMM, MAIG.16.Mineral Resource estimates for the Canadian assets (excluding Detour Lake) were prepared under the supervision of Eric Kallio, P. Geo. (Senior Vice-President, Exploration)17.Mineral Resource estimates for Detour Lake were prepared under the supervision of Andre Leite, P.Eng , AUSIMM CP (MIN), MEng., Technical Services Manager.18Tonnes and gold ounce information is rounded to the nearest thousand; As a result, rows and columns may not add exactly due to rounding.19Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.20.Please refer to the Company’s Press Release dated February 25, 2021. 47

a leading senior gold producer · 2021. 5. 17. · andre leite, p.eng , ausimm cp (min), meng, vice...

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