Kinross Gold Corporation (NYSE: KGC; TSX: K) Delivering Value. Third Quarter 2025 Results November 5th, 2025 Third Quarter 2025 Kinross Gold Corporation (NYSE: KGC; TSX: K) Where we say "we", "us", "our", the "Company", or "Kinross" in this presentation, we mean Kinross Gold Corporation and/or one or more or all of its subsidiaries, as may be applicable. The technical information about the Company's mineral properties contained in presentation has been prepared under the supervision of Mr. Nicos Pfeiffer wh ...

Core Insights - Kinross Gold reported quarterly earnings of $0.44 per share, exceeding the Zacks Consensus Estimate of $0.39 per share, and showing a significant increase from $0.24 per share a year ago, resulting in an earnings surprise of +12.82% [1] - The company achieved revenues of $1.8 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 17.76% and up from $1.43 billion year-over-year [2] - Kinross Gold shares have appreciated approximately 152.4% year-to-date, significantly outperforming the S&P 500's gain of 16.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.32 on revenues of $1.48 billion, while for the current fiscal year, the estimate is $1.57 on revenues of $6.53 billion [7] - The estimate revisions trend for Kinross Gold was favorable prior to the earnings release, leading to a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Mining - Gold industry is currently ranked in the top 7% of over 250 Zacks industries, suggesting a strong outlook for stocks within this sector [8] - Another company in the same industry, Barrick Mining, is expected to report quarterly earnings of $0.57 per share, reflecting a year-over-year increase of +83.9%, with revenues anticipated to be $4.22 billion, up 25.4% from the previous year [9][10]

Market Overview - U.S. equities faced a significant downturn on November 4, 2025, with all three major indexes closing in the red, particularly the tech-heavy Nasdaq Composite, which led the declines [1][2] - The S&P 500 fell 1.2% to 6,771 points, while the Dow Jones Industrial Average decreased by 0.5% or approximately 238 points to 47,085, and the Nasdaq Composite dropped 2% to 23,348 [2] - The Cboe Volatility Index (VIX) surged 10% to 18.9, indicating increased investor apprehension amid concerns over valuations and a potential market correction [2] Economic Data and Events - The ongoing U.S. government shutdown is delaying key economic data releases, increasing focus on private sector data [3] - The ADP employment report is anticipated, which may provide insights into hiring trends following a dip in September [3] - The ISM Manufacturing PMI declined to 48.7 in October from 49.1 in September, marking the eighth consecutive month of contraction [4] Corporate Developments - Palantir Technologies (PLTR) saw a significant decline of 7.9% despite surpassing analysts' forecasts for sales and profit, raising concerns over high valuations [5] - Nvidia (NVDA) fell 4%, and Microsoft (MSFT) dipped 1%, reflecting growing concerns about the sustainability of the AI rally [5] - Uber Technologies (UBER) slumped 6.3% despite reporting better-than-expected financial results [5] - Yum! Brands (YUM) rose 6.1% after announcing strong quarterly results and considering selling its Pizza Hut unit [5] - Kinross Gold Corporation (KGC) reported robust third-quarter results, including record free cash flow and an increase in share buyback target and dividend [6] Earnings Announcements - Advanced Micro Devices, Inc. (AMD) is expected to report a 27.63% year-over-year increase in earnings per share [10] - Arista Networks, Inc. (ANET) is forecasted to see a 14.04% increase in earnings per share [10] - Axon Enterprise, Inc. (AXON) plunged 20% in after-hours trading following a Q3 earnings miss [10] - Digital Turbine (APPS) surged 22% in after-hours trading after reporting its FY 2026 Q2 earnings [10]

Record free cash flow of approximately $700 million and achieved net cash position Increased 2025 share buyback target by 20% to $600 million and dividend by 17%On track to meet annual guidance TORONTO, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX: K, NYSE: KGC) (“Kinross” or the “Company”) today announced its results for the third quarter ended September 30, 2025.This news release contains forward-looking information about expected future events and financial and operating performance of ...

Core Points - Kinross Gold Corporation has announced a 17% increase in its longstanding dividend, now amounting to $0.14 per share on an annualized basis [1] - The quarterly dividend of $0.035 per common share is set to be payable on December 10, 2025, to shareholders of record as of November 26, 2025 [2] - The dividend qualifies as an "eligible dividend" for Canadian income tax purposes, with non-resident investors subject to Canadian non-resident withholding taxes [2] Company Overview - Kinross Gold Corporation is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, and Canada [3] - The company focuses on delivering value through responsible mining, operational excellence, disciplined growth, and maintaining a strong balance sheet [3]

(All dollar amounts are expressed in U.S. dollars, unless otherwise noted.) TORONTO, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX: K; NYSE: KGC) (“Kinross”) announced today it will redeem all of the outstanding 4.50% Senior Notes due July 15, 2027 (the “Notes”), which have an aggregate principal amount of $500 million, on December 4, 2025 (the “Redemption Date”). The Notes will be redeemed at a redemption price determined in accordance with the terms of the Notes and will include accrued ...

Group 1 - Spot gold prices returned to the $4,000 mark, increasing by over 2% during the day [1] - Several U.S. gold stocks experienced a rebound, with Newmont Corporation (NEM.US) rising over 2.8%, Agnico Eagle Mines (AEM.US) increasing by over 3%, and Kinross Gold (KGC.US) and Barrick Gold (B.US) both gaining over 2% [1]

Core Insights - Kinross Gold Corporation (KGC) is expected to report third-quarter 2025 results on Nov. 4, with anticipated benefits from higher gold prices, effective cost management, and strong production [1][6][19] Financial Performance - The Zacks Consensus Estimate for third-quarter earnings is 33 cents per share, reflecting a 37.5% year-over-year increase, while revenue is estimated at $1.53 billion, indicating a 6.9% rise year-over-year [2] - KGC has outperformed the Zacks Consensus Estimate for earnings in three of the last four quarters, with an average earnings surprise of 22.5% [3][4] Market Conditions - Gold prices have significantly increased due to global trade tensions, geopolitical issues, a weak dollar, and central bank purchases, with prices closing nearly 17% higher in the third quarter and approximately 52% higher year-to-date [8][6] - The average realized gold price per ounce for KGC in the third quarter is estimated at $3,230, representing a 30.4% increase from the previous year [8] Production and Cost Management - KGC's strong production profile is supported by key assets Tasiast and Paracatu, which are expected to contribute significantly to cash flow and production [9][10] - The company's cost-control measures, combined with robust gold prices, are anticipated to maintain strong margin performance in the third quarter [10] Stock Performance and Valuation - KGC's shares have increased by 129.2% over the past year, outperforming the Zacks Mining – Gold industry's 71.1% rise and the S&P 500's 23% increase [11] - Kinross Gold is currently trading at a forward 12-month earnings multiple of 13.45, slightly above the peer group average of 13.08 [14] Investment Outlook - KGC has a strong pipeline of exploration and development projects, including Great Bear in Ontario and Round Mountain Phase X in Nevada, which are expected to enhance production and cash flow [17] - The company demonstrates strong financial health, with substantial cash flows that support development projects and shareholder returns [18][19]

Core Insights - Kinross Gold Corporation (KGC) achieved record second-quarter operating margins, with a margin per gold equivalent ounce sold rising to $2,204, a 68% increase year-over-year, driven by a significant rise in average realized gold prices [1][7] - The company generated record free cash flow of $646.6 million in the second quarter, marking an 87% year-over-year increase and a 74% increase from the previous quarter [2][7] - KGC's cost-control measures and strong gold prices are expected to sustain its margin performance in the third quarter, with a focus on improving margins to enhance cash flow and shareholder returns [3][7] Financial Performance - KGC's free cash flow for the first half of 2025 exceeded $1 billion, with key mines like Paracatu and Tasiast contributing significantly to cash flow [2] - The Zacks Consensus Estimate indicates a year-over-year earnings rise of 117.7% for 2025 and 26.9% for 2026, with EPS estimates trending higher over the past 60 days [9] Market Position - KGC's shares have increased by 148.9% year-to-date, outperforming the Zacks Mining – Gold industry's rise of 99.4%, primarily due to the rally in gold prices [6] - The company is currently trading at a forward 12-month earnings multiple of 13.43, which is a 2.4% premium to the industry average of 13.11 [10] Competitive Landscape - Agnico Eagle Mines Limited (AEM) also reported record operating margins in the second quarter, with a 55% year-over-year increase, contributing to higher net income and operating cash flows [4] - Newmont Corporation (NEM) achieved a reduction in all-in sustaining costs (AISC) to $1,566 per ounce, a 2% decrease from the prior quarter, indicating a commitment to cost discipline and margin expansion [5]

Core Insights - Puma Exploration Inc. has announced that Kinross Gold Corporation has committed to the second year of its Option Agreement on the Williams Brook Project, indicating strong potential for the project [1][2] - The second year of the Option Agreement includes a minimum work commitment of $3 million, pending approval from Kinross's board [1][2] - Kinross has the option to earn a 65% interest in the Williams Brook Project by funding at least $16.75 million in exploration expenditures over five years [2] Company Overview - Puma Exploration is focused on identifying and developing precious metals projects in New Brunswick, with a strong history of over 15 years in the region [4] - The company has a portfolio of gold landholdings strategically located near infrastructure, including the Williams Brook Project and the new McKenzie Gold Project [3][4] Exploration Methodology - Puma employs a successful exploration methodology that combines traditional prospecting with advanced technologies, including Artificial Intelligence, to enhance understanding of the region's geology [5] - The company utilizes geophysical surveys and geochemical data to develop cost-effective exploration tools aimed at discovering gold at shallow depths [5]