Kinross announces renewal of NCIB

Core Viewpoint - Kinross Gold Corporation has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB) program, allowing the company to repurchase up to 110,350,160 common shares over the next year, which represents 10% of its public float [1][2][3] Summary by Sections NCIB Program Details - The NCIB program permits Kinross to buy back up to 110,350,160 common shares from March 24, 2025, to March 23, 2026, out of a total of 1,229,635,757 shares outstanding as of February 28, 2025 [2] - Daily repurchases on the TSX will be limited to a maximum of 853,989 shares, which is 25% of the average daily trading volume for the six months ended February 28, 2025 [4] Rationale for Share Buyback - The company believes that the market price of its common shares may not fully reflect their intrinsic value, making the buyback an attractive use of available funds [3] - Kinross aims to enhance shareholder returns through share buybacks and quarterly dividends, supported by a strong balance sheet and free cash flow generation [3] Purchase Mechanism - Purchases will be conducted through the TSX, NYSE, and other permitted means, with the price based on the market value at the time of acquisition [5] - An automatic repurchase plan has been established to facilitate share purchases during predetermined blackout periods [6] Company Overview - Kinross Gold Corporation is a Canadian-based senior gold mining company with operations in the United States, Brazil, Mauritania, Chile, and Canada, focusing on responsible mining and operational excellence [7]