DETOUR LAKE MINEJA MODEL FOR RESPONSIBLE, VALUE-CREATING GOLD MINING IN ONTARIO

Detour Lake Technical Report, Dec. 31, 2020

Investor Presentation |

March 31, 2021

FORWARD-LOOKING INFORMATION Cautionary Note Regarding Forward-Looking Information

The information in this presentation has been prepared as at March 30, 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; (iv) statements made with respect to our guidance for production, cash flow, free cash flow, all-in sustaining costs, and capital expenditures; (iv) future exploration plans; (v) the declaration payment and sustainability of the Company's dividends;(vi) optimization of mine plans; (vii) the schedules and budgets for the Company's projects; and (viii) the Company's continuous improvement initiatives and the potential impacts thereof.

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 material ly 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; potential impacts of COVID 19; 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 December 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 result s 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.

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 tota l additions and construction in progress are the most comparable measures for sustaining and growth capital expenditures. 2

All dollar amounts in this presentation are expressed in U.S. dollars except as otherwise noted. In cases where amounts have been converted to US$ from C$ as disclosed in the technical report entitled, Detour Lake Operation, Ontario, Canada, NI 43-101 Technical Report” they have been converted at a C$/US$ exchange rate of 1.31.

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 Guide7 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., Senior Vice President, Technical Services and Innovation is a "qualified person" as defined in NI 43-101 and has reviewedand approved disclosure ofthe Mineral Reserves technical information anddata 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 Mineral Resourcetechnical information and data for the Canadian Assets (excluding Detour) included in this presentation.

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

Readers are referred tothe Appendix for the detailed footnotes with respect tomineral reserves and resources.

3

Mine General Manager

Larry Lazeski

Mine Operation and MaintenanceBarry Kellar

Mine Technical Services

Andre Leite

Plant Operation and Maintenance

Mark Melanson

Health & SafetyDennis Sobey

Human ResourceLindsay Anderson

CampBrett Bottyan

Capital & InfrastructureNeil Gauthier

TailingsColin Ashton

Chief Operating Officer

Natasha Vaz

President & CEOTony Makuch

Participants on the conference call:

Tony Makuch – President & CEO

Natasha Vaz – Chief Operating Officer

Jennifer Wagner – Executive Vice-President, Corporate Affairs & Sustainability

Mohammed Ali – Vice President, Environment

Larry Lazeski – General Manager

Andre Leite – Technical Service Manager

Eric Kallio – Senior Vice President, Exploration

DETOUR LAKE MINE LEADERSHIP

4

SVP ExplorationEric Kallio

▪ Acquisition of Detour Gold announced November 25, 2019 at equity value of US$3.7Bn and then gold price of US$1,457/oz

▪ Acquisition closed January 31, 2020

▪ 77,217,129 KL shares issued, exchange ratio of 0.4343

▪ Common shares of 267.0M, 27% higher than pre-transaction level

▪ Shares O/S reduced ~20.0M or 7% since transaction completed on January 31, 2020

Acquisition Rationale

▪ Adds high-quality, low-risk asset in low-risk jurisdiction (excellent geographic fit)

▪ Solidified KL’s position as senior gold producer with industry-leading cash flow

▪ Greatly expanded KL’s Mineral Reserve base

▪ Value creation opportunity through continued optimization and expansion of Detour Lake Mine

▪ Significant exploration upside

▪ Supportive of KL’s commitment to responsible mining and strong community relationships

Kirkland Lake M&A track record – acquiring assets where we can add value in both operating excellence and aggressive exploration

DETOUR GOLD ACQUISTION: RIGHT DEAL AT THE RIGHT TIME

5

DETOUR LAKE: A MODEL FOR RESPONSIBLE, VALUE-CREATING GOLD MINING IN ONTARIO

Quality People

▪ Improving safety performance

▪85% of workforce from Northern Ontario

▪21% of workforce identifies themselves as being indigenous

Responsible Mining

▪ Zero Process water discharge

▪Greenhouse gas emissions well below industry average

▪Award-winning mine reclamation program

Valued Member of Local Communities

•$105M in annual wages (majority remains in regions)

•$760M in annual procurement ($600M remains in Ontario)

•$263M in spending with Indigenous businesses

6

DETOUR LAKE: A MODEL FOR RESPONSIBLE, VALUE-CREATING MINING IN ONTARIO

Large-Reserve, Long-Life Operation

•13.8M oz @ 0.96 g/t Mineral Reserve (above 0.50 g/t cut-off grade)*

•2.0m oz @ 0.41 g/t Mineral Reserve to be processed at end of mine life (<0.50 g/t cut-off grade)

Profitable, Cash Flow Generating Operations (2020)

•Revenue of $961M and operating earnings of $370M (11 months)

•$308 million of free cash flow in 2020 (11 months)

Synergies and Value Enhancement Initiatives

•Optimizing mine design & ore fragmentation

• Improving mobile equipment maintenance

•Maximizing plant throughput and recoveries

7* Detour Lake Mineral reserves includes material below 0.5 g/t cut-off grade mainly reclaimed at end of the mine life. See detai led footnotes in the Appendix.

DETOUR LAKE: VALUE ENHANCEMENT – CURRENT PRIORITIES

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

8

9

DETOUR LAKE: TARGETING HIGHER PRODUCTION LEVELS

22.023.0

24.525.5

27.027.8 28.0

10

15

20

25

30

2 0 1 9 2 0 2 0 ( 1 ) 2 0 2 1 ( 2 ) 2 0 2 2 ( 2 ) 2 0 2 3 ( 2 ) 2 0 2 4 ( 2 ) 2 0 2 5 ( 2 )

ESTIMATED ANNUAL PROCESSING TONNES(Millions of Tonnes)

602 563

680 – 720 680 – 720 680 – 720 680 – 720800

0

200

400

600

800

1,000

2 0 1 9 2 0 2 0 ( 1 ) 2 0 2 1 ( 2 ) 2 0 2 2 ( 2 ) 2 0 2 3 ( 2 ) 2 0 2 4 ( 2 ) 2 0 2 5 ( 2 )

ESTIMATED ANNUAL PRODUCTION(Thousands of Ounces)

(1) For twelve months ended December 31, 2020.(2) Included in Company’s production guidance (see press release dated December 10, 2020)

DETOUR LAKE: A STORY OF TRANSFORMATION

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

Investment ThesisThere is a much larger deposit at Detour Lake than is currently reflected in Mineral Reserves. This will support:

1. Substantial growth in Mineral Reserves

2. Transition to larger design

3. Increased production

4. Improved unit costs

5. Significant value creation

Drilling Results to Date Demonstrate:

▪ Continuous corridor of mineralization extends through Saddle Zone to beyond West Pit

▪ High-grade intersections near surface and at depth support potential for substantial growth in Mineral Reserves

▪ Mineralization extends at least 300 m west of West Pit and remains open 10

DETOUR LAKE: ACCOMPLISHMENTS TO DATE

11

Received Key Permits

▪ Received permit to increase throughput to 32.8M tonnes/year

▪ Received environmental permit authorizing layout of the West Detour Project (“WDP”)

Finance/Administration improvements

▪ Eliminated debt, closed out hedge positions

▪ Realized synergies, re-negotiated large-dollar contracts

▪ Opened Timmins Hub in Q3 2020 (54 positions centralized)

Process Improvements

▪ Expanded drilling and blasting capacity

▪ Improved shovel productivity

▪ Optimized pit bench heights

▪ Increased throughput and processing efficiency

▪ Commenced construction of assay lab, air strip, expanded shops and other site infrastructure

▪ Arrangements made for private area communications network at site

DETOUR LAKE: ACCOMPLISHMENTS TO DATE

12

Mineral Reserves and Mineral Resources

▪ New Mineral Reserve and Mineral Resource estimates reflect increased selectivity, improved grade control and creation of low-grade reserves to be processed at end of mine life (0.35 – 0.5 g/t material mined regardless, but previously classified as waste)

Completed 2021 Life-of-Mine Plan (“LOMP”)

▪ Based on Mineral Reserve and Mineral Resource estimates as at December 31, 2020

▪ Reduced strip ratio (1.90:1)

▪ Increased mill throughput and higher production levels

▪ Improved unit costs

▪ Improved overall site footprint (reduced environmental impact)

DETOUR LAKE: 2021 NI 43-101 TECHNICAL REPORT

13

What it is . . .

▪ Required regulatory filing to replace outdated 2018 NI 43-101 Technical Report

▪ Incorporates operating and capital costs based on 2018-2020 costs and expenditures

▪ Includes higher throughput levels, based in ongoing investments to increase process plant capacity and receipt of new permit to process 32.8M tonnes/year without daily limits

▪ Establishes low-grade Mineral Reserve to be processed at end of operating life (ounces previously assumed to be mined as waste)

What it isn’t . . .

▪ DOES NOT incorporate any benefit for exploration drilling in 2020 and 2021

▪ DOES NOT incorporate full impact of business improvement initiatives

▪ DOES NOT incorporate productivity and grade control benefits from new assay lab (currently under development)

SUSTAINABILITY AND RESPONSIBLE MINING

1414

DETOUR LAKE MINE:LARGEST MINE IN OPERATION IN NORTHERN ONTARIO

~40% of the total mineral reserves in the region are at DetourLake

>25 M oz produced since 1985>40 M oz in mineral reserves

15

DETOUR LAKE:CURRENT & FUTURE INFRASTRUCTURE

16

COVID-19 RESPONSE

▪ Extensive Health & Safety Protocols

o Reduced operations in Q2 2020

o Remote work where possible

o Suspended non-essential work (exploration & projects)

o Mandatory rapid testing introduced in early 2021

o Increased cleaning and sanitizing

o Mandatory social distancing and face masks

o Extensive measures to ensure food safety

o Job protection for impacted workers

▪ No transmission of COVID-19 at Detour Lake operation

o Enhanced health and safety protocols in place

o Mandatory rapid testing introduced

RESPONSIBLE GOLD MINING:

1717

RESPONSIBLE GOLD MINING:IMPROVING HEALTH & SAFETY

1. TMIFR: Total recordable injuries x 200,000 hours divided by total man hours worked.

18

Total Recordable Injury Frequency Rate (TMIFR)1

(Annual Average)

1.681.78

2.05

1.44 1.42

0.0

0.3

0.6

0.9

1.2

1.5

1.8

2.1

2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0

31.%Improvement

18

RESPONSIBLE GOLD MINING:PROVIDING EMPLOYMENT TO NORTHERN ONTARIO

▪ Increased Cochrane & Northern Ontario employee representation

▪ (86% of total workforce)

▪ 73% of workforce are hourly employees (operators)

▪ 21% of workforce identifies themselves as Indigenous

Cochrane

Cochrane & Nearby Districts565 positions (49% of total)

Northern Ontario992 positions (86% of total)

Ontario1063 positions (92% of total)

Total: 1,153 FTE(1) (100%)

WORKFORCE ORIGIN: 86% from Northern Ontario

191) Full-time equivalent as at December 31, 2020.

RESPONSIBLE GOLD MINING:INDIGENOUS PARTNERS

20

▪ Moose Cree First Nation (MCFN) ▪ Taykwa Tagamou Nation (TTN)▪ Wahgoshig First Nation (WFN)▪ Metis Nation of Ontario (MNO)▪ Quebec Cree

▪ Grand Council of the Crees▪ Cree Nation of Waskaganish▪ Local land users

20

RESPONSIBLE GOLD MINING:TRAINING & DEVELOPMENT

▪ In-house Learning and Development program, SkillMine, fosters employee growth and development

• Team completed more than 22,000 training courses in 2020 with a focus on health and safety, employee and leadership development

▪ Indigenous Supervisor Training Program• 5-year training program with 2 graduates

▪ Partnerships with Keepers of the Circle -Aboriginal Women in Mining and Aboriginal Young Men in Mining

▪ Every employee receives Indigenous Awareness training as part of the onboarding process

▪ New Resiliency in Indigenous Society program for supervisors, superintendents and mangers

▪ Indigenous Peoples Advisory Committee 21

DETOUR LAKE MINE

A LEADER IN ENVIRONMENTAL MANAGMENT

22

Clean Water

Clean Air

Community Partnerships

Closure Planning

• Zero discharge of process water• Over 95% recycle rate in the mill

• 60% lower greenhouse gases than global Industry average

• Established partnerships with Indigenous groups

• 2020 recipient of Tom Peters Rehabilitation Industry Award

RESPONSIBLE GOLD MINING:

2020

2021

2022

Through a collaborative process that involves Indigenous Partners and a One-Window regulatory process, the WDP is geared up for success. All permits are on schedule.

Ongoing Baseline Studies and Fieldwork

Environmental Assessment Process: Permit for WDP received

Caribou Management Plan

Discharge Location Authorization

Closure Plan Amendment

Permit to Take Water

Air and Noise Amendment

Mill Throughput Expansion: Permit for 32.8M tonnes/year received

PERMITTING WEST DETOUR PROJECT (“WDP”)

23

Fisheries Management Plan

REVIEW OF OPERATIONS

24

25

MINING OPERATIONS

Main Pit1

1 Pit dimensions reported include the previous Campbell pit. Ni43101 pit dimensions reported based on future mining areas only

26

DETOUR LAKE MINING FLEET IN USE

36 x CAT 795F AC

02 x CAT 7495 Rope Shovel

05 x CAT 6060 Shovel Front

07 x Epiroc Pit Viper 271

05 x Epiroc SmartROC D65

HAULING

LOADING

DRILLING

MAIN MINE FLEET

Mining Method▪ Conventional truck-shovel open-

pit mining

▪ Drilling & blasting required

▪ Management of old underground workings

▪ Similar mining methods planned for West Detour – initially to use smaller equipment

▪ 1,725 Mt to be moved over 18 years (2021 – 2038)

▪ 596 Mt of material processed over 22 years (2021 – 2042)

27

TOTAL EXPIT PRODUCTION (ORE & WASTE)

▪ 2020 impacted by COVID-19

▪ Lower total tonnes mined expected in 2021 compared to 2019

▪ Targeting record production in 2021 due to:

o Reduced strip ratio

o Higher average grade

87.4

101.1104.8 106.2

94.7101.0

538571

621602

563

680 – 720

300

400

500

600

700

800

900

20

40

60

80

100

120

2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 ( 1 ) 2 0 2 1 ( 2 )

Tho

usan

ds o

f Oun

ces

Mill

ions

of

Tonn

es

TOTAL EXPIT TONNES & GOLD PRODUCTION

(1) For twelve months ended December 31, 2020. (2) As disclosed in the 2021 LOMP. (3) Gold production as included in Company’s 2021 guidance.

Impact of COVID-19

BUSINESS IMPROVEMENT INITIATIVES

Area Main actions Expected Value

Drill & Blast

Geotechnical

Optimization of drilling and blasting for wall control and higher Plant throughput

1 PitViper delivered in Q2 2021

Higher plant throughput

Reduced stripping ratio

Improve wall monitoring and structure

mapping for wall control blasting aiming pit

slope optimization

Radar Monitoring system Installed in

October – Improved site coverage

Reduced stripping ratio

Mine Operation &

Maintenance

Transition to 14.5 m bench height

Dyno/KL transition completed

Improved Data Analytics – site driven dashboards developed

Tire Pressures monitoring system (Q4/2020)

Higher plant throughput

Lower Mining costs

Dilution control whilst achieving fragmentation

Ongoing review of grade control and

reconciliation processes

Higher plant throughput delivering

forecasted head grades Geology

28

29

DRILLING AND BLASTING (“D&B”) IMPROVEMENTS

▪ D&B capacity expanded (one D65 in 2020 and one PV271 in 2021), with continuous monitoring introduced

▪ Higher energy blasting introduced to increase % of fines in defined ore types

Benefits:

▪ Haulage with higher payload per trip

▪ Wear on gear including truck boxes

▪ Bench floor conditions and impact on tire life

▪ Throughput in process plant

▪ Crusher & mill liner life

▪ Reduction in energy consumption for crushing and grinding

30

INCREASING ROPE SHOVEL PRODUCTION

▪ Higher rope shovels production aims to reduce mining costs

▪ Mine has transitioned to 14.5m bench height in 2020 to better match rope shovel optimum operating conditions

▪ Flitch mining in areas mined by the hydraulic shovels is also expected to improve selectivity

31

IMPROVING RELIABILITY

▪ 7495 Rope shovel reliability has increased over the past 3 years

▪ Focus on improving equipment reliability by analyzing downtime drivers and completing root cause analysis for equipment breakdown events

▪ Update shovel maintenance strategies to ensure components are replaced at optimal time and prevent unnecessary work/over-maintaining

▪ Trialing different rebuild facilities and vendors/supplies for components to ensure competitive pricing

▪ Collection of validated data and optimizing downtime events with Maintenance Dispatchers

▪ Developing management plan for welding projects to maximize use of internal resources and reduce contractor requirements for rebuilds

0.0

5.0

10.0

15.0

20.0

25.0

30.0

ROPE SHOVEL RELIABILITYMedium time between shuts (hours) 7495

0%

20%

40%

60%

80%

100%ROPE SHOVEL RELIABILITY

% Scheduled Work

7495

32

MOBILE MAINTENANCE

Key Improvement Initiatives:

▪ Ending maintenance and repair contract and assuming this work internally

▪ Constructing four new service bays

▪ Constructing new welding shop

▪ Internal rebuilds of large components

▪ New equipment lifecycle policy (equipment replaced once lifetime has been achieved

o Increased reliability

o Reduced downtime

o Lower maintenance costs

33

PROCESSING OPERATIONS

34

▪ Two independent milling circuits involving gravity separation, concentrate leach, agitated tank leaching, carbon-in-pulp (“CIP”), solvent extraction and electrowinning, cyanide

▪ Initially designed for 20.0M tonnes/year (55,000 tpd)

▪ Processing rates consistently exceed design capacity, with 23.0M tonnes (62,857 tpd) processed in 2020

▪ Multiple initiatives aimed at increasing capacity to 28.0M tonne/year by 2025 (permit received to go to 32.8M tonnes/year)

o Improved fragmentation

o Improved primary crusher choke feeding

o Secondary crusher screens

o Curved pulp lifters

o SAG mill speed increase

o Re-feed system after the secondary crushers

o Ore blending based on grindability

o Increase plant operating time to 93% (from 92%)

PROCESSING OPERATIONS

Conventional Milling Flowsheet

35

PROCESS PLANT PERFORMANCE

Throughput 3% higher YoY –improved ore fragmentation and choke feeding strategy

Operating time 2% higher YoY –improved maintenance strategy

23.0M tonnes milled in 2020 –

4% increase from 2019

20.821.4

20.7

22.0

23.0

15

20

25

2016 2017 2018 2019 2020(1)

MILL PRODUCTION(Millions of Tonnes/Year)

11%

4%↑7.39

7.657.79

5

6

7

8

2018 2019 2020(1)

MILL OPERATING TIME (Hours per Line/Year)

4%↑2%↑

2.80 2.882.95

0

1

2

3

4

2018 2019 2020(1)

MILL THROUGHPUT (Tonnes per Hour/Year)

3%↑ 3%↑

Operating Hours

(1) For twelve months ended December 31, 2020.

36

PROCESS PLANT PERFORMANCE

563k ounces recovered in 2020 - 6% lower YoY – Largely reflects impact of COVID-19 measures

Planned increase in 2021 reflects both higher tonnes processed and improved grade

Recovery in 2020 is 1% lower and head grade 10% lower YoY

Recovery rate in 2021 expected to increase 11% from 2020 and exceed 2019 level

538 571621

602563

680 – 720

0

200

400

600

800

2016 2017 2018 2019 2020(1) 2021(2)

GOLD PRODUCTION (Thousands of Ounces Recovered)

89.2 89.5 90.092.1 91.3 92.3

0.900.93

1.04

0.92

0.83

0.97

0.2

0.3

0.4

0.5

0.6

0.7

0.8

0.9

1.0

1.1

1.2

1.3

1.4

40

50

60

70

80

90

100

2016 2017 2018 2019 2020(1) 2021(2)

Head grade (g/t)Recoveries (%)

(1) For twelve months ended December 31, 2020.(2) Included in Company’s production guidance for 2021 (see press release dated

December 10, 2020).

(1) For twelve months ended December 31, 2020.(2) As disclosed in the 2021 LOMP.

37

PROCESS PLANT CAPACITY GROWTH

5-year investment plan to bring Detour Lake Mine to its 28M tpy mill capacity

22.023.0

24.525.5

27.027.8 28.0

10

20

30

2 0 1 9 2 0 2 0 ( 1 ) 2 0 2 1 ( 2 ) 2 0 2 2 ( 2 ) 2 0 2 3 ( 2 ) 2 0 2 4 ( 2 ) 2 0 2 5 ( 2 )

GROWTH PLAN FOR MILLING CAPACITY(Millions of Tonnes)

22%

(1) For twelve months ended December 31, 2020. (2) As disclosed in the 2021 LOMP.

38

1.06

23.00

1.50

1.44

0.700.30

20

21

22

23

24

25

26

27

28

29

2020 2021 2022 2023 2024 2025

PLANT CAPACITY BREAKDOWN(Millions of Tonnes/Year)

▪ Secondary crusher screens to be installed in end 2021 represent 2.25M tonnes additional in capacity▪ 610 Conveyor refeed adds an additional 750K tonnes of capacity

PROCESS PLANT CAPACITY GROWTH

Actual Capacity

D&B Fragmentation

Pulp lifter

Removal of mill limit

610 Conveyor Refeed

Secondary Crusher Screens

Runtime improvements

28.00 MT/Year

Total capital expenditures to achieve 28MT/Year estimated at $65 – $75 million

39

WATER MANAGEMENT

Cell #2

▪ Downstream method

▪ Construction started in 2018 (completed in 2020)

▪ Tailings deposition commenced in Q4 2020

▪ Total containment estimated at 246M tonnes

Cell #3

▪ Downstream method

▪ Construction starting in 2027

▪ Total containment of 208M tonnes

Cell #1

▪ Centerline method

▪ Construction started in 2013

▪ Cell #1 is at a final elevation of 322 masl and total volume of 153.1M tonnes

40

THE WAY FORWARD

Maximize the business for free cash flow

▪ Plant growth strategy to bring milling capacity to 28M tonnes per year by 2025

▪ 2021 LOMP o Includes capital to execute KL’s growth strategy for Detour Lake Mine

o Captures upside observed in production reconciliation

o Updated and realistic cost assumptions for mine, plant, tailings and G&A

o Objective to maximize risk-adjusted NPV

o Required for regulatory purposes

o Does not include any new drilling

▪ Complete exploration program in Saddle Zone and West Detour area by late 2021

▪ 2022 life of mine plan to incorporate exploration success being achieved and further progress on business improvement initiatives

▪ Continue to drive for world class performance and value creation

▪ Evaluate technology solutions to improve business competitiveness and sustainability

2021 LOMP

41

42

2021 LOMP GOLD PRODUCTION SCHEDULE

▪ 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

He

ad G

rad

e d

(g/t

)

Re

cove

red

Ou

nce

s (T

ho

usa

nds)

2021 LOMP GOLD PRODUCTION

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

43

2021 LOMP MINE PRODUCTION SCHEDULE

101109

113120

131 130 120 133127

111107

96

7970

6355

30

2.99

1.72

1.631.62

3.02

3.72

4.53 4.43

2.94

2.16

1.47

1.14

0.85 0.86 0.74 0.68 0.8620

0.79

0

1

2

3

4

5

6

-

20

40

60

80

100

120

140

2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038

Stri

pp

ing

Rat

io

Mill

ion

s o

f To

nn

es

MINED TONNES (ORE & WASTE)

Ore Waste SR

▪ Average total material moved in first five years (2021 – 2025): 114.8 MT

▪ Average strip ratio in first five years (2021 – 2025): 2.20 (LOM 1.90)

44

2021 LOMP – UNIT COSTS FOR NEXT FIVE YEARS

▪ Operating cash cost decreasing over next 5 years with increasing gold production

▪ Cash AISC decreasing over next 5 years with significant sustaining CAPEX in first years

▪ Cash AISC decreasing with significant growth CAPEX to achieve 28Mt/y milled and transition to thickened tailings

$556

$499

$542$528

$500

$524

400

450

500

550

600

2021 2022 2023 2024 2025 2021-2025

OPERATING CASH COSTS (US$/oz)

1. See Non-IFRS Measures section in forward-looking statements slide2. Refers to all-in sustaining costs.

$844

$780$792

$741$726

$775

650

700

750

800

850

2021 2022 2023 2024 2025 2021-2025

AISC (US$/oz)

45

2021 LOMP CAPEX ANALYSIS – FIVE YEARS

▪ TMA includes construction of Cell 2 and Mine Water Pond for transition to thickened tailings

▪ Process Plant includes Growth capital to increase production to 28Mt/y by 2025

▪ Mining includes equipment replacement, planned component replacements, and capitalized maintenance of 795 haul trucks

▪ G&A is mostly related to West Detour environmental permitting

344 347

254 256

309

-

50

100

150

200

250

300

350

400

2021 2022 2023 2024 2025

CAPEX - SUSTAINING & GROWTH (2021-2025)(US$ Millions)

Mining Deferred Stripping Processing Tailings Management West Detour Site Admin

2021 2022 2023 2024 2025 Total

Mining 62 98 85 69 90 404

Deferred Stripping 101 82 46 68 165 463

Processing 64 50 54 50 12 230

TMA 68 40 45 50 32 235

West Detour 2 40 18 3 3 66

Site Admin. 48 36 7 15 7 113

Total 344 347 254 256 309 1,510

46

2021 LOMP CASH FLOW MODEL Economic Assumptions

Gold Price US$/oz 1,500

Exchange Rate CAD:USD 1.31

Discount Rate % 5

Diesel US$/L 0.61

Electricity US$/MWh2021-24: 192025-LOM: 56

Project Start Date(1) Jan. 1, 2021

1. Discounting is to this date.

-344-347

-254 -256-309

-350 -346

-270-183 -183

-159-106 -133 -94

-85 -51 -35 -32 -26 -20 -21 -16

625 615536 581

755670

587

303370

534

673

820 836 814 830885

396 443

190262

245 173

-16

-600

-400

-200

0

200

400

600

800

1,000

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

Pre-Tax Annual Cash Flow Before Capital Expenditures (US$ Millions)

Capital Expenditures Pre-Tax Annual Cash Flow Before Capital Expenditures (US$ Millions)

47

2021 LOMP KEY RESULTS

Mining

Ore Mined (Mt) 593.9

Waste Mined (Mt) 1,131.4

Ex-Pit Mined (Mt) 1,725.3

Strip Ratio (waste/ore) 1.90

Ex-Pit Ore Grade (g/t) 0.82

Processing

Milled (Mt)* 596.1

Head Grade (g/t) 0.82

Recovery 91.9%

Gold Recovered (koz) 14,499

Gold Poured (koz) 14,518

Sales

Gold Sold (koz) 14,519

Gross Revenues 21,778 Refining & Transport Costs (25)Net Revenues 21,754

Operating Costs - Mining (3,526)Operating Costs - Processing (3,976)Operating Costs - Site Admin (1,458)

Operating Costs (8,960)Royalties and First Nations Payments (584)Changes in Inventory (27)Operating Margin 12,182 Capital Expenditures (3,621)Reclamation (79)Lease Payments (9)Less: Changes in Working Capital 32 Free Cash Flow Before Taxes 8,505

Taxes (2,127)Free Cash Flow After Taxes 6,377 Net Present Value Before Tax (5%) 5,049 Net Present Value After Tax (5%) 3,792

Physicals(1) Financials (US$ Millions)

Average Unit Costs (US$/Oz)(2)

Operating Cash Costs 619

AISC(3) 821 1. Tonnes and ounces are based on Mineral Reserves and Mineral Resources as at December 31, 2020.2. See Non-IFRS Measures section in forward-looking statements slide.3. Refers to all-in sustaining costs.* Mineral Reserves accounts for actual 2020 end of year mine surface and stockpile balances.

48

SIGNIFICANT SENSITIVITY TO GOLD PRICE

After-Tax NPV @ 5% (C$M)

Exchange Rate (CAD/USD)

-0.10 -0.05 Base +0.05 +0.10

1.21 1.26 1.31 1.36 1.41

Go

ld P

rice

(U

SD/o

z)

-200 1,300 1,893 2,180 2,479 2,784 3,071

-100 1,400 2,504 2,833 3,143 3,452 3,768

Base 1,500 3,119 3,452 3,792 4,116 4,440

+100 1,600 3,718 4,069 4,417 4,762 5,106

+200 1,700 4,298 4,667 5,035 5,402 5,761

1. Assumes base case exchange rate of (C$/US$) 1.31.

1. Assumes base case gold price of $1,300/oz.

2,479 3,143

3,792 4,417

5,035

-

1,000

2,000

3,000

4,000

5,000

6,000

1300 1400 1500 1600 1700

$ M

illi

on

s

Gold Price (US$/oz)

SENSITIVITY OF AFTER-TAX NPV TO GOLD PRICE(1)

3,119 3,452

3,792 4,116

4,440

0

1,000

2,000

3,000

4,000

5,000

1.21 1.26 1.31 1.36 1.41

$ M

illi

on

s

Exchange Rate

SENSITIVITY OF AFTER-TAX NPV TO EXCHANGE RATE(1)

4,323

6,377

8,332

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

Cumulative Undiscounted After-Tax Cash Flow (US$M)

US$ 1,300/oz Gold US$ 1,500/oz Gold US$ 1,700/oz Gold

49

EXPLORATION OVERVIEW

50

EXPLORATION OVERVIEW

Strong FCF & Profitability

Quality People

DETOUR LAKE: A MODEL FOR RESPONSIBLE, VALUE-CREATING GOLD MINING IN ONTARIO

Responsible Mining

Community Focused

Large-Reserve, Long-Life Mining

Substantial Value Creation Upside

OUR VISIONTO TRANSFORM DETOUR LAKE MINE INTO ONE OF THE

WORLD’S LARGEST AND MOST PROFITABLE GOLD MINES 51

APPENDIX

Readers are referred to the Technical Report entitled "Detour Lake Operation, Ontario, Canada, NI 43 -101 Technical Report" that has an effective date of December 31, 2020, and prepared by Mr. Andre Leite, P.Eng., Mr. Jean-Francois Dupont, P.Eng., Dr. Veronika Raizman, P.Geo., and Mr. Paul Andrew Fournier, P.Eng., each of whom is a “qualified person” pursuant to NI 43-101. For full technical details of the report, reference should be made to the complete text of the Detour Technical Report, which has been filed with the applicable regulatory authorities and is available under the Company’s SEDAR profile at www.sedar.com and on EDGAR at www.sec.gov.

Mineral Reserves Notes:1. The Mineral Reserves have an effective date of December 31, 2020. The Qualified Person for the estimate is Mr. Andre Leite2. Mineral Reserves amenable to open pit mining methods 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.

3. Estimates were rounded in accordance with reporting guidelines. Totals may not sum due to rounding.4. Totals may not add up due to rounding.

Mineral Resources Notes:1. The Mineral Resources have an effective date of December 31, 2020. The Qualified Person for the estimate is Mr. Andre Leite, P.Eng., a Kirkland Lake employee.2. Mineral Resources are reported exclusive of those Mineral Resources converted to Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic

viability. Mineral Resources are reported using the 2014 CIM Definition Standards.3. Mineral Resources considered amenable to open pit mining methods were estimated using a gold price of US1,500/oz, an exchange rate of 1.31 C$/US$, variable metallurgical recovery

assumptions based on formulae, refining and transport costs of C$5/oz Au, mining costs of C$3.42/t mined, process costs of C$ 9.75/t milled, tail ings management costs of C$1.50/t milled, general and administrative costs of C$3.59/t milled, non-mining sustaining capital costs of $2.44/t milled, mining sustaining capital costs of C$0.35/t mined, incremental bench cost of $0.019/t/bench, and variable pit slope angles that range from 25–56º. The estimate is reported above a cut-off grade of 0.5 g/t Au.

4. Mineral Resources considered amenable to underground pit mining methods were estimated assuming long-hole and transverse stoping methods. The estimates used a gold price of US1,300/oz, metallurgical recovery assumption of 97%, refining and transport costs of C$5/oz Au, average mining cost of C$75/t mined, pro cess and tail ings costs of C$9/t milled, general and administrative costs of C$11.50/t, assumed dilution average of 12%. The estimate is reported above a cut-off grade of 2.2 g/t Au.

5. Estimates have been rounded in accordance with reporting guidelines. Totals may not sum due to rounding.6. Totals may not add up due to rounding.

52