Investor Presentation 1 Cautionary Statement on Forward Looking - PowerPoint PPT Presentation

Investor Presentation 1

Cautionary Statement on Forward Looking Information This presentation contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward - looking statements”) . Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets”, or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Forward- looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements, including those herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this presentation speak only as of the date of this presentation or as of the date or dates specified in such statements. Inherent in forward- looking statements are risks, uncertainties and other factors beyond the Company’s ability to predict or con trol. These risks, uncertainties and other factors include, but are not limited to, gold price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, support of the Company’s Indigenous communities, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the gold exploration, development and production industry, as well as those risk factors listed in the section entitled "Description of Business - Risk Factors" in Detour Gold's Annual Information Form (“AIF”) for the year ended December 31, 2017 and in the contin uous disclosure documents filed by Detour Gold on and available on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Actual results and developments are likely to differ, and may differ materially or materially and adversely, from those expressed or implied by forward-looking statements, including those contained in this presentation. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about the following: the availability of financing for exploration and development activities; operating and capital costs; results of ope rations; the Company’s available cash resources; the Company's ability to attract and retain skilled staff; the mine development and production schedule and related costs; dilution control; sensitivity to metal prices and other sensitivities; the supply and demand for, and the level and volatility of the price of, gold; timing of the receipt of regulatory and governmental approvals for development projects and other operations; the timing and results of consultations with the Company’s Indigenous partners; the supply and availability of consumables and services; the exchange rates of the Canadian dollar to the U.S. dollar; energy and fuel costs; required capital investments; estimates of net present value and internal rate of returns; the accuracy of mineral reserve and mineral resource estimates, production estimates and capital and operating cost estimates and the assumptions on which such estimates are based; market competition; ongoing relations with employees and impacted communities and general business and economic conditions. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. 2

Visit https://www.detourgold.vote for more information 3

Detour Gold’s Recommended Path Forward 100% Focus on the 2018 LOM Plan execution 2018 LOM Plan is working as demonstrated by operating results the fire sale that is not value-maximizing now of the Board refreshed by May 2019 2/3 new directors nominated or recruited by Paulson 3 NONETHELESS, PAULSON STILL WANTS A WHOLESALE BOARD CHANGE, WITH NO REAL PLAN 4

Continuity Is Critical to Operational Success To ensure a responsible Board construct we have led the process of change: (1) Added three new (2) Interim CEO Michael (3) Recommending the addition of Paulson’s two most qualified directors since August 2018 Kenyon will step down with two long-term directors from the Board on the nominees as two long-tenured (Ingrid Hibbard and Robert earlier of a new CEO being directors (Lisa Colnett and Doyle) stepping down named or the next AGM Jonathan Rubenstein) depart This approach balances shareholders’ desire for further change with the need for continuity It has the support in writing of one of Detour Gold’s largest shareholders and indicative support of many others. Our Recommended Board: We are willing to make these changes today, but Paulson has been unwilling to accept and end this proxy fight. • • James K. Gowans ( New director ) Steven Feldman ( Paulson nominee ) • • Christopher Robison ( Paulson nominee ) J. Michael Kenyon ( Interim CEO ) • • Edward Dowling, Jr. Judy M. Kirk ( New director ) • • Alex Morrison ( Chairman of the Board ) Alan R. Edwards ( New director ) • André Falzon ✓ The Recommended Board has an average tenure of only 2 years ✓ Continuity provided by Michael Kenyon and Alex Morrison is critical  The non-recommended Paulson nominees are inexperienced & unqualified 5

Our Recommended Board Has Sufficient Institutional Knowledge to Provide Continuity ✓ Extensive Public Board Experience • 6 directors have sat on an average of 8 public boards ✓ Extensive Mining Experience • 7 directors have extensive mining experience and 4 have been involved in the development, construction and/or operation of more than three dozen mines ✓ Strong Corporate Governance • Detour Gold scored a 1 for ISS Governance QualityScore and continues to perform well in The Globe and Mail’s Board Games ✓ Extensive M&A Experience • Our Recommended Board has facilitated numerous major M&A transactions at other companies they’ve served ✓ Extensive Shareholder Engagement • Over the last 5 years, Detour Gold’s Board and management have had an average of 260 meetings per year with investors ✓ Path to Qualified New CEO while Maintaining Critical Leadership Continuity in the Interim • Interim CEO Michael Kenyon will step down from the Board upon the earlier of a new CEO being appointed or the next annual meeting of shareholders 6

CHANGE THAT IS WORKING 7

Detour Gold Has Created Significant Shareholder Value Over Time Detour Gold has outperformed the gold price and GDX since Detour Lake’s first full year of production Detour Gold Share Price (C$) GDX (Indexed) Gold Price (Indexed) $36 27-Jun-18 2018 LOM Plan News 21-Oct-15 Release $30 1 Moz Produced Detour Gold Share Price (C$) 30-Jun-17 $24 2 Moz Produced $18 Total Return $12 +159% $6 +0% -10% -- 2014 2015 2016 2017 2018 8 Source: Factset

Strong Q3 2018 Operating Results Demonstrate Progress Towards LOM Plan Mining Rate (000’s tonnes per day - ktpd) Mining Cost (C$/tonne mined) Record mining rate above 300 ktpd since commencement of operations $3.75 304 294 289 $3.25 $2.99 $3.01 250 Q4'17 Q1'18 Q2'18 Q3'18 Q4'17 Q1'18 Q2'18 Q3'18 Milling Rate (tonnes per day - tpd) Milling + G&A Cost (C$/tonne milled) $16.46 $16.21 59,219 $13.94 $13.22 55,825 54,144 50,860 Q4'17 Q1'18 Q2'18 Q3'18 Q4'17 Q1'18 Q2'18 Q3'18 9

Analysts Have Acknowledged The Recent Operational Improvements At Detour Lake “…Detour Gold appears on track with full year “Production outperformed our expectation as production guidance reaffirmed, mining and milling throughput ticked up quarter-on-quarter and grade continued to track above annual guidance” rates trending higher, and unit costs improving quarter-over- quarter.” Raymond James (25-Oct-18) RBC (24-Oct-18) “Overall, management have responded to shareholder concerns, and along with good execution in Q3/18 of the mine plan, have earned credibility. Our fundamental view is that execution of the revised mine plan is the best potential valuation of underlying asset value compared to the existing share price” Laurentian (25-Oct-18) Source: Street Research 10 Note: Permission was neither sought nor denied for the inclusion of the quotes from research reports shown above.