Moscow, Russia EFFECTIVE INVESTMENTS IN RUSSIAS GOLD MINING INDUSTRY - PowerPoint PPT Presentation

Kinross Gold Corporation: February 5 Moscow, Russia EFFECTIVE INVESTMENTS IN RUSSIA’S GOLD MINING INDUSTRY 2013 Lou Naumovski, VP and General Director, Moscow Representative Office Kinross Gold Corporation 1 1 February 5, 2013 www.kinross.com www.kinrossgold.ru

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION  Kinross Gold Corporation 2 2 February 5, 2013 www.kinross.com www.kinrossgold.ru

AGENDA: • KINROSS PORTFOLIO & 2012 PRELIMINARY RESULTS • KINROSS OPERATIONS IN RUSSIA • FACTORS CONTRIBUTING TO KINROSS’ SUCCESS IN THE RUSSIAN FEDERATION Kinross Gold Corporation 3 3 February 5, 2013 www.kinross.com www.kinrossgold.ru

OPERATING MINES AND DEVELOPMENT PROJECTS IN 4 CORE REGIONS • Diversified portfolio of assets located in some of the world’s best gold districts RUSSIA Dvoinoye Kupol Fort Knox Kettle River - Buckhorn Round Mountain NORTH AMERICA Tasiast Chirano WEST AFRICA Fruta del Norte Paracatu 2012E La Coipa Lobo-Marte Maricunga 2.5 – 2.6 million ounces GLOBAL PORTFOLIO SOUTH AMERICA Operating mine of gold equivalent production (1,2) Development project (1) Please refer to endnote #1. Kinross Gold Corporation 4 4 (2) Please refer to endnote #2. February 5, 2013 www.kinross.com www.kinrossgold.ru

STAKING DISTRICTS, ADDING RESOURCES, IMPROVING GRADE GOLD RESOURCES (1) 2P GOLD RESERVE EXPLORATION SPEND (mm oz.) GRADE (2) ($ mm) (g/t) Proven & Probable Gold Reserves Measured & Indicated Gold Resources Inferred Gold Resources +221% +43% $220 0.73 +13x 20.1 0.51 25.4 2.9 62.6 6.1 $17 24.7 2005 2011 2005 2011 2005 2012e (3) (1) Please refer to endnote #4. (2) Please refer to endnote #4. Kinross Gold Corporation 5 5 (3) Please refer to endnote #1. February 5, 2013 www.kinross.com www.kinrossgold.ru

2012 PRODUCTION & COST OUTLOOK (1) • Identified $200 million in cost savings, reducing expected 2012 capital expenditures to $2.0 billion from $2.2 billion • Expect to be toward the high end of both production and cost guidance ranges: Gold Production (2) % of Total Production cost of Sales (3) Region (000 oz. Au eq.) Production ($/oz. Au eq.) South America 890 – 930 36% $830– $870 North America 640 – 660 25% $620 – $660 West Africa (2) 430 – 460 17% $780 – $820 (attributable) Russia 535 – 565 22% $470 – $495 Gold equivalent: $690 - $725/oz Total Kinross (2) : 2.5 – 2.6 million 100% By-product: $605- $655/oz Key Sensitivities: Taking into account existing currency and oil hedges, 10% change in foreign exchange could result in an approximate $5 impact on production cost of sales per ounce. A $10 change in the price of oil could result in an approximate $2 impact on production cost of sales per ounce. The impact on royalties of a $100 change in the gold price could result in an approximate $4 impact on production cost of sales per ounce. (1) Please refer to endnote #1. Kinross Gold Corporation 6 (2) Please refer to endnote #2. 6 February 5, 2013 (3) Please refer to endnote # 3 . www.kinross.com www.kinrossgold.ru

THE WAY FORWARD • Process to ensure we are applying disciplined and rigorous analysis to all aspects of our business decisions in today’s global industry environment Company- Capital & wide cost project The Way reduction optimization Forward initiative process Launched January Launched August Launched September 2012 2012 2012 Kinross Gold Corporation 7 7 February 5, 2013 www.kinross.com www.kinrossgold.ru

RENEWED FOCUS ON OPTIMIZING OUR ASSETS • 7 key areas form the basis of The Kinross Way Forward: • Prioritizing cash flow 1. MINE PLAN OPTIMIZATION • Optimizing pushback widths, mine sequencing • Exploiting zero / low-capex productivity improvements 2. CONTINUOUS IMPROVEMENT • Reducing unit consumption • Implement better cost controls 3. COST MANAGEMENT & LABOUR • Right-sizing workforce PRODUCTIVITY • Reevaluating capital requirements 4. CAPITAL EFFICIENCY • Managing potential deferral risks • Identified $200 mm in capex reductions for 2012 • Improving procurement planning processes 5. SUPPLY CHAIN MANAGEMENT • Planning with greater accuracy • Establishing lower cost power purchase agreements 6. ENERGY MANAGEMENT • Reducing energy consumption • Enhancing inventory management 7. WORKING CAPITAL MANAGEMENT • Reducing working capital requirements Kinross Gold Corporation 8 8 February 5, 2013 www.kinross.com www.kinrossgold.ru

MAINTAINING A STRONG BALANCE SHEET STRONG LIQUIDITY POSITION • Investment grade credit ratings from all three major rating agencies • Recently arranged a new US$1.0 billion 3-year term loan • Increased existing US$1.2 billion credit facility to US$1.5 billion DISCIPLINED APPROACH TO CAPITAL ALLOCATION • Limit for total annual capital spending will be based on a conservative estimate of existing liquidity, cash flow availability and gold price • Based on current forecasts, expected annual growth capital would be $1.0 - $1.5 billion annually for the next 2 – 3 years Cash and cash equivalents* $2.4 billion *Includes cash and cash equivalents and restricted cash as at June 30, 2012 and the US$1.0 bn term loan completed August 17, 2012 Kinross Gold Corporation 9 9 February 5, 2013 www.kinross.com www.kinrossgold.ru

• KINROSS OPERATIONS IN RUSSIA: • - KUPOL • - DVOINOYE • - VODORAZDELNAYA Kinross Gold Corporation 10 10 February 5, 2013 www.kinross.com www.kinrossgold.ru

KINROSS IN RUSSIA DVO KUP 2007 – Kinross completes the acquisition of Bema Gold Corporation, acquiring a 75% interest (less one share) in Kupol 2010 – Kinross acquires the high-grade Dvoinoye deposit and the Vodorazdelnaya property. 2011 – Kinross increases its ownership in the strategic Kupol deposit and the Kupol East-West exploration licenses to 100%. Kinross Gold Corporation 11 11 February 5, 2013 www.kinross.com www.kinrossgold.ru

KUPOL (100%) • Completed transaction increasing ownership to 100% from 75% on April 27, 2011 • High-grade underground mine with > 3,000 tpd mill • Produced over 3 million gold eq ounces • 1st mine in Russia to obtain Cyanide Code Certificate OPERATING RESULTS PRODUCTION PRODUCTION COST (Au eq. oz.) OF SALES ($/oz.) YTD Q3 2012 431,717 $471 FY 2011 587,048 $378 Kinross increased its ownership in the Kupol mine to 100% on April 27, 2011. As a result, the results up to April 27, 2011 reflect 75% ownership, and results thereafter reflect 100% ownership. 2011 GOLD RESERVES AND RESOURCES (1) TONNES GRADE OUNCES (thousands) (g/t) (thousands) 2P Reserves 9,561 9.73 2,992 M&I Resources - - - Inferred Resources 425 15.50 212 (1) Please refer to endnote #4. Kinross Gold Corporation 12 12 February 5, 2013 www.kinross.com www.kinrossgold.ru

KUPOL: DRILLING AND EXPLORATION Mining License - Meters drilled 60000 50000 40000 30000 20000 10000 0 1998 1999 2000 2001 2003 2004 2005 2006 2007 2008 2009 2010 2011 • Life of Project Exploration Drilling KML: 270,000m. • Exploration added 260Koz Au eq. reserve in 2011 • 2012 Drilling Plan for Kupol ML: ~ 20,000m and Kupol East and West – >15,000m. • Exploration potential at depth and to north at main Kupol vein. • Currently 4500m of resource drilling at Moroshka. Kinross Gold Corporation 13 13 February 5, 2013 www.kinross.com www.kinrossgold.ru

DVOINOYE CONTINUES ON SCHEDULE • Underground development continues ahead of plan: > 50% complete § > 3,700 m completed since development began • Surface infrastructure construction: > 45% complete • Permanent camp near completion / All-season road progressing well • All necessary permits for current scope of underground development and construction activities are in place • On schedule for expected delivery of first ore to the Kupol mill in H2 2013 Kinross Gold Corporation 14 14 February 5, 2013 www.kinross.com www.kinrossgold.ru

DVOINOYE AND VODORAZDELNAYA: DRILLING AND EXPLORATION Dvoinoye – 16,000m of drilling completed YTD 2012 - Zone 1 – 6,000m recently completed for potential Zone 1, plan estimation; 2012 drilling - Zone 37 – 8,500m YTD & continuing at SW and NE extensions - (10,000m are planned by the end of 2012 ). Vodorazdelnaya PL Dvoinoye ML NE extension potential SW extension potential Zone 37, long section Kinross Gold Corporation 15 15 February 5, 2013 www.kinross.com www.kinrossgold.ru

DVOINOYE AND VODORAZDELNAYA: DRILLING AND EXPLORATION Vodorazdelnaya property YTD 2012: – 110,000m 3 trenching is completed – Over 24,000m drilling completed & continuing – A newly identified occurrence ‘September’ has been preliminarily explored, results are pending “September ” Kinross Gold Corporation 16 16 February 5, 2013 www.kinross.com www.kinrossgold.ru

Factors Contributing to Kinross’ Success in Russia • Durability and persistence • Shareholder and management alignment • Good partnerships in-country • Stakeholder engagement • Effective project management and operational excellence • Corporate responsibility and economic and social benefits Kinross Gold Corporation 17 17 February 5, 2013 www.kinross.com www.kinrossgold.ru