Click to edit Master title style TSX/AIM:KGI • Click to edit Master • Click to edit Master text styles text styles – Second level – Second level • Third level • Third level A RICH HISTORY – Fourth level – Fourth level » Fifth level » Fifth level A Long and Profitable Future George Ogilvie, P.Eng President & CEO Bank of America 21 st Annual Canada Mining Conference | 09.10.2015 1 klgold.com TSX:KGI
Forward Looking Statements Click to edit Master title style Cautionary Note Regarding Forward Looking Statements. This presentation contains statements which constitute ”forward -looking statements”, including statements regarding the • Click to edit Master plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and • Click to edit Master operating performance of the Company. The words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such text styles text styles forward-looking statements. Forward-looking statements used in this Presentation include, but may not be limited to; statements regarding the Company’s production guidance for Stub Year 2015, 2016, 2017 and 2018; the ability to bring more higher grade stopes online from the 5400 level and access to the 5600 level and the timing thereof; – Second level – Second level the exploration programs and the results and timing thereof. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements • Third level • Third level are made such as, without limitation, opinion, assumptions and estimates of management regarding the Company’s business, its ability to increase its production capacity and decrease its production cost. Such opinions, assumptions and – Fourth level – Fourth level estimates, are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors are » Fifth level » Fifth level discussed in length in the Company's annual Management's Discussion and Analysis and Annual Information Form for the year ended April 30, 2015. and the Company’s Management's Discussion and Analysis for the interim period ended April 30, 2015 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 statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company 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. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law. 2 2 klgold.com TSX:KGI TSX:KGI klgold.com
Investment Highlights Click to edit Master title style Experienced and proven board of directors • Click to edit Master • Click to edit Master Management team with a wealth of experience and technical expertise text styles text styles High grade gold producer with a 14 year mine life – Second level – Second level • Third level • Third level Potential to find new discoveries in an underexplored camp – Fourth level – Fourth level » Fifth level » Fifth level Increasing production profile with declining costs Canadian operator benefiting from the Canadian dollar gold price environment Profitable with strong cash flow generation 3 3 klgold.com TSX:KGI TSX:KGI klgold.com
Experienced and Proven Team Click to edit Master title style Board of Directors *Eric Sprott, Chairman of the Board (Non-executive Director) • Click to edit Master • Click to edit Master *Barry Cooper, B.Sc., MBA (Non-executive Director) Pamela Klessig, P.Geo (Non-executive Director) text styles text styles *Barry Olson, M.Sc. (Non-executive Director) – Second level – Second level *Jeffrey Parr, CA, BA, MBA (Non-executive Director) • Third level • Third level Dawn Whittaker, LLB (Non-executive Director) – Fourth level – Fourth level * New Appointments » Fifth level » Fifth level Senior Management George Ogilvie, P.Eng. (Director, President & CEO) John Thomson, CA (Director, Executive VP & CFO) Chris Stewart, P.Eng. – VP Operations Jennifer Wagner, LL.B. – Corporate Legal Counsel Suzette N Ramcharan, CPIR – Director, Investor Relations 4 klgold.com TSX:KGI
Financial Position Click to edit Master title style CAPITAL STRUCTURE 1 C$81.1 million 1 CASH ISSUED SHARES 80,376,617 • Click to edit Master • Click to edit Master Stock Options 4,055,300 C$115 million DEBT FULLY DILUTED 84,431,917 text styles convertible debentures text styles ~428 Million 1 MARKET CAP – Second level – Second level KGI.DB : 6% coupon/ $15.00 strike 52 Week Performance 2 C$54.5MM mature Jun/2017 • Third level • Third level C$6.88 HIGH KGI.DB.A : 7.5% coupon/ $13.70 strike – Fourth level – Fourth level C$60.5MM* mature Dec/2017 C$2.79 LOW » Fifth level » Fifth level *In F2015, KGI purchased C$5MM of the 7.5% 3 C$5.11 (Sept 9) Current Share Price Major Shareholders (~50%) 1 Resolute Funds (~10%) 2.5% NSR ROYALTY Eric Sprott (~9%) Franco Nevada Corporation Columbia Wanger Asset Management LLC (~8%) Equinox Partners (~7%) Van Eck Associates Corporation (~5%) Option to buyback 1% by October 31, 2016, at a cost of Harry Dobson (~4%) US$36MM less any money paid against the 1% ABC Funds (~4%) 1 As at July 31, 2015; 2 As at September 1, 2015 3 See press release dated April 1, 2015 for details on the NCIB 5 klgold.com TSX:KGI
Share Price Performance Since January 2014 Click to edit Master title style 250% Kirkland Lake (TSX:KGI) Gold Price (C$/oz) GDXJ Index (C$) 230% 210% • Click to edit Master • Click to edit Master 190% text styles text styles 77% 170% – Second level – Second level 150% • Third level • Third level 130% – Fourth level – Fourth level 110% » Fifth level » Fifth level 8% 90% -26% 70% 50% Jan-14 Mar-14 May-14 Jul-14 Sep-14 Nov-14 Jan-15 Mar-15 May-15 Jul-15 KGI Share Price Vs Gold Price (C$) and GDXJ (Jan 2014 – Aug 2015) • KGI share price has outperformed the POG by 77%. • GDXJ dropped 26% over this time period. 6 klgold.com TSX:KGI
Kirkland Lake Camp Click to edit Master title style The Kirkland Lake gold camp has been in production for over 100 years • Click to edit Master • Click to edit Master One of the highest grade text styles text styles gold camps in the world – Second level – Second level Almost 25 Moz’s has been produced to date, from • Third level • Third level seven mines – Fourth level – Fourth level KGI owns five former » Fifth level » Fifth level producing high grade mines with historical production of ~22 Moz’s of gold at historical average head grades of of 0.44 opt or 15.1 g/t Currently only mining and exploration on one of these past producers 7 klgold.com TSX:KGI
One of the Highest Grade Gold Mines In The World Click to edit Master title style Select Group of Producing Assets with +1Moz’s in Reserves Reserve Grades 25.0 19.2 20.0 16.9 • Click to edit Master • Click to edit Master Grade g/t 15.0 12.0 text styles 10.0 text styles 9.9 8.5 8.0 9.6 10.0 – Second level – Second level 5.0 • Third level • Third level 0.0 Macassa Mine Turquoise Ridge Gosowong Red Lake Moab Khotsong Mponeng Kupol/Dvoinoye Tau Tona Complex – Fourth level – Fourth level Gold Grade Reserves Reserve Update » Fifth level » Fifth level Mine Operator Location g/t Au Date Macassa Mine Complex Kirkland Lake Gold Canada (Ontario) 19.2 1.5 Moz Dec/2014 Turquoise Ridge Barrick USA (Nevada) 16.9 4.5 Moz Dec/2014 Gosowong Newcrest Indonesia 12.0 1.2 Moz Dec/2014 Moab Khotsong AngloGold Ashanti South Africa 10.0 6.1 Moz Dec/2014 Mponeng AngloGold Ashanti South Africa 10.0 14.6 Moz Dec/2014 Red Lake Goldcorp Canada 10.0 2.1 Moz Dec/2014 Kupol/Dvoinoye Kinross Russia 8.5 2.1 Moz Dec/2014 TauTona AngloGold Ashanti South Africa 8.0 1.4 Moz Dec/2014 Company Source – This is a select group of Companies that illustrate producing mines only with mineral reserves in excess of 1Moz’s (gold only, no equivalent Au ounces shown) 8 klgold.com TSX:KGI
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