going for gold in everything we do...$332 --$250 $500 $750 $1,000 $1,250 $1,500 $1,750 2018a 2019e...

GOING FOR GOLD IN EVERYTHING WE DO

KLGOLD.COM TSX: KL NYSE: KL ASX: KLA

PRECIOUS METALS SUMMIT | BEAVER CREEK, CO | September 2019

FORWARD-LOOKING INFORMATION

Cautionary Note Regarding Forward-Looking Information

The information in this presentation has been prepared as at September 6, 2019. This presentation contains “forward looking statements” and "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Kirkland Lake Gold with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and include information regarding: (i) the amount of future production over any period; (ii) assumptions relating to revenues, operating cash flow and other revenue metrics set out in the Company's disclosure materials; and (iii) future exploration plans.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Kirkland Lake Gold's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Kirkland Lake Gold believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the future development and growth potential of the Canadian and Australian operations; the future exploration activities planned at the Canadian and Australian operations and anticipated effects thereof; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation. Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves. This forward-looking information may be affected by risks and uncertainties in the business of Kirkland Lake Gold and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Kirkland Lake Gold, including its annual information form, financial statements and related MD&A for the quarter ended June 30, 2019 and the financial year ended December 31, 2018, which are 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 information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Kirkland Lake Gold 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. Kirkland Lake Gold does not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

All dollar amounts in this presentation are expressed in U.S. dollars except as otherwise noted. For further details of Kirkland Lake Gold’s Q2 2019 production results, please see the Company’s press releases dated July 10, 2019 and July 30, 2019. For further information on the Company’s three-year production guidance, including the assumptions and qualifications made, please see the Company’s press releases dated December 11, 2018 , February 21, 2019, May 7, 2019.

Use of Non-IFRS Measures

This Presentation refers to average realized price, operating costs, operating costs per ounce sold, all-in sustaining cost (“AISC”) per ounce of gold sold, free cash flow, sustaining capital expenditures and growth capital expenditure because certain readers may use this information to assess the Company’s performance and also to determine the Company’s ability to generate cash flow and meet its expenditure requirements. This data is furnished to provide additional information and are non-IFRS measures and do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”). These measures should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and are not necessarily indicative of operating costs presented under IFRS. Refer to each Company’s most recent MD&A for a reconciliation of these measures. The most comparable IFRS Measure for operating cash costs, operating cash costs per ounce sold and AISC per ounce sold is production costs as presented in the Consolidated Statements of Operations and Comprehensive Income, while total additions and construction in progress are the most comparable measures for sustaining and growth capital expenditures. Operating cash costs, operating cash cost per ounce sold and All-in sustaining costs (“AISC”) per ounce sold in the Company’s 2019 guidance reflect an average US$ to C$ exchange rate of 1.33 and a US$ to A$ exchange rate of 1.41 (as at June 30, 2019). Operating cash costs, operating cash cost per ounce sold and AISC per ounce sold for YTD 2019 reflect an average US$ to C$ exchange rate of 1.33 and a US$ to A$ exchange rate of 1.42.

2

http://www.sedar.com/

KL: DELIVERING SUPERIOR SHAREHOLDER RETURNS

3

2017175% Increase

201885% Increase

2019+62% YTD

TSX:KL

GDXJ

GDX

Factors Driving Outperformance

Growing low-cost productionIndustry leading earnings & cash flowExploration success and reserve growthIncreasing quarterly dividend Repurchasing shares No debt

4

2 Key Drivers of Performance – 82% of 2018 Production

1. See Non-IFRS Measures section in forward looking statements (Slide 2) as well as in the MD&A for the three and six months ended June 30, 2019.

Fosterville Macassa

P&P Mineral Reserves (kozs) 2,720 2,250

P&P Reserve Grade (g/t Au) 31.0 21.9

2019 Production Guidance (kozs) 570 – 610 240 – 250

2019 Op. Cash Costs Guidance ($/Oz Sold)1 130 – 150 400 – 420

HIGH-GRADE GOLD PRODUCTION IN AUSTRALIA AND CANADA

FostervilleMacassa

PRODUCTION: 33% CAGR1 (2016 – 20192)

51. Refers to compound annual growth rate.2. Assumes mid-point of 2019 production guidance.

FOSTERVILLE PRODUCTION GUIDANCE

2019: 570 – 610 kozs2020: 550 – 610 kozs2021: 570 – 610 kozsMACASSA PRODUCTION GUIDANCE

2019: 240 – 250 kozs2020: 230 – 240 kozs2021: 245 – 255 kozs

HOLT COMPLEX PRODUCTION GUIDANCE

2019: 140 – 150 kozs2020: 150 – 160 kozs2021: 180 – 190 kozs

155.2

313.7

596.4

723.7

930 – 1,010

2015(A) 2016(A) 2017(A) 2018(A) 2019(F) 2020(F) 2021(F)

(A) Actual.(F) Forecast.

950 – 1,000995 – 1,055Consolidated Production

(Kozs)

312

411447

503 – 553

H1 2018(A) H2 2018(A) H1 2019(A) H2 2019(F)

TARGETING RECORD HALF-YEAR IN H2 2019


FULL-YEAR 2019 PRODUCTION GUIDANCE

Fosterville: 570 – 610 kozsMacassa: 240 – 250 kozsHolt Complex: 140 – 150 kozs

6

Consolidated Production (Kozs)

$571

$481

$362

$285 – $305

2016(A) 2017(A) 2018(A) 2019(F)

LOW UNIT COSTS DRIVE PROFITABILITY & CASH FLOW

OPERATING CASH COSTS ($/oz) 1

1. See Non-IFRS Measures section in forward-looking statements slide. 7



$930

$812

$685

$520 – $560

2016(A) 2017(A) 2018(A) 2019(F)

AISC ($/oz)1

312.3

446.5

YTD 2018 YTD 2019

$424

$301

YTD 2018 YTD 2019

$793

$597

YTD 2018 YTD 2019

STRONG YTD 2019 RESULTS (TO JUNE 30, 2019)

PRODUCTION (kozs) OPERATING CASH COSTS ($/oz) 1 AISC ($/oz) 1

1. See Non-IFRS Measures section in forward-looking statements slide. 8

43% Increase 29% Improvement 25% Improvement

570

769

918 883930

1,003

Kirkland Lake Gold Newcrest Agnico Eagle Barrick Newmont Kinross

2019 All-In Sustaining Cost/Oz Consensus Analyst Estimate 1,2

SUPERIOR UNIT COST PERFORMANCE

1. See Non-IFRS Measures section in forward-looking statements slide.2. Definitions of AISC may vary (KL has no byproduct credits).

Source: CIBC

9

$111.5$0.53/share

$214.3$1.02/share

YT D 2018 YT D 2019

$61.5$0.29/share

$104.2$0.50/share

Q2 2018 Q2 2019

2019 NET EARNINGSQ2 2019 NET EARNINGS ($ MILLIONS)

10

Key Drivers of 2019 Profitability vs. 2018

Strong revenue growthImproved unit cost

69% growth from Q2 2018

92% growth from YTD 2018

YTD 2019 NET EARNINGS ($ MILLIONS)

KL: INDUSTRY-LEADING PROFITABILITY

1. See Non-IFRS Measures section in forward-looking statements slide.2. Mid-point used in cases where guidance ranges provided. 11

$1.04

$0.42 $0.41

$0.23 $0.19 $0.13

Kirkland Lake Gold Newcrest Newmont Agnico Eagle Barrick Kinross

YTD 2019 Adjusted Earnings Per Share (For Six Months Ended June 30, 2019)

Source: Bloomberg and company reports

257

332

469

416

SEP. 30/18 DEC. 31/18 MAR. 31/19 JUN . 30/19

STRONG GROWTH IN CASH POSITION

CASH POSITION ($ MILLIONS)

$52.2M in Q3 2018$86.4M in Q4 2018$93.1M in Q1 2019$53.0M in Q2 2019

Growing Free Cash Flow

Cash increased $137M or 41% in YTD 2019

12

KL: STRONG FINANCIAL POSITION

13

$450

-$395

-$1,466 -$1,606

-$3,654

-$5,066-$5,500

-$4,500

-$3,500

-$2,500

-$1,500

-$500

$500

Kirkland Lake Gold Newcrest Kinross Agnico Eagle Barrick Newmont

Cash Less Total Debt (At June 30, 2019)

Source: Bloomberg

$332

--

$250

$500

$750

$1,000

$1,250

$1,500

$1,750

2018A 2019E 2020E 2021E

Projected Cash Balance

• ORGANIC GROWTH• EXPLORATION• VALUE FOR SHAREHOLDERS

• Q2 2019 dividend increased to $0.04/share (US dollars)

• Conversion to US dollar dividend increased value of dividend ~34%

CASH OUTLOOK BASED ON IMPROVED GUIDANCE

Note: Assumes gold price of US$1,400/oz, USD:CAD of 1.32, USD:AUD of 1.43

TOP PRIORITIES

14

$469M1

(Jun. 30/19)

1. Cash and cash equivalents at June 30, 2019.

TRACK RECORD OF DIVIDEND GROWTH

KL QUARTERLY DIVIDEND ($ PER SHARE)

15

Background on KL Quarterly Dividend

Dividend policy adopted Mar. 2017First payment C$0.01/share Q2 2017Four dividend increases to dateDividend to be reviewed regularly as cash balance increases

C$0.01 C$0.01

C$0.02 C$0.02C$0.03

C$0.03

C$0.04 C$0.04

US$0.04

Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019

500% increase in dividend since Q2 2017~34% increase with payment in US dollars

C$0.06Equivalent

FOSTERVILLE MINE: BENDIGO, VICTORIA, AUSTRALIA

FOSTERVILLE: AN EMERGING WORLD LEADER IN GOLD PRODUCTION

16

98.4 105.3123.1

151.2

263.8

356.2

570–610 550-610 570-610

2 0 1 3 ( A ) 2 0 1 4 ( A ) 2 0 1 5 ( A ) 2 0 1 6 ( A ) 2 0 1 7 ( A ) 2 0 1 8 ( A ) 2 0 1 9 ( F ) 2 0 2 0 ( F ) 2 0 2 1 ( F )

FOSTERVILLE – GROWING TO 600,000 OZS/YEAR

FOSTERVILLE GOLD PRODUCTION (KOZS)

December 11, 2018 three-year guidance

February 21, 2019 improved three-year guidance

390-430

500-540

17


550 - 610May 7, 2019 revision to 2019 guidance

FOSTERVILLE’S TRANSFORMATION DRIVEN BY GRADE

Change in Mineralization

Quartz veins with visible gold key to increase reserve ounces and grade

Significant Growth in Mineral Reserve

2.7M ozs @ 31.0 g/t (Dec.31/18)1.7M ozs @ 23.1 g/t (Dec. 31/17)

18

5.2 5.67.0

9.8

17.9

23.1

31.0

0

5

10

15

20

25

30

35

0

500

1,000

1,500

2,000

2,500

3,000

Dec. 31/13 Dec. 31/14 Dec. 31/15 Dec. 31/16 Jun. 30/17 Dec. 31/17 Dec. 31/18

Gram

s pe

r ton

ne

Thou

sand

s of O

unce

s

Fosterville Mineral Reserves

Ounces Grade

231

182

244

491

1,030

1,700

2,700

FOSTERVILLE – RECORD PRODUCTION IN Q2 2019Q2 2019 Production

140.7 kozs (82% growth from Q2 2018, 10% higher than 128.4 kozs in Q1 2019)Strong Unit Cost Performance in Q2 2019

Op. cash costs: $1201/oz; AISC: $318/oz1

Q2 2019 Capital Expenditures

Sustaining: $22.9 millionGrowth: $14.1 million2

19

Q2 2019Tonnes: 111,280 Grade: 39.9 g/t Recovery: 98.7%Recovered: 140.7 kozs

Q2 2019 Earnings from Operations

$140.1 million

1. See Non-IFRS Measures section in forward-looking statements slide2. Excludes capitalized exploration expenditures


FOSTERVILLE Q2 2019 MINE PLAN

FOSTERVILLE – ON TRACK TO ACHIEVE GUIDANCE

Production: 570 – 610 kozsOp. cash costs: $130 – $150/oz

Full-Year 2019 Guidance

20

YTD 2019 Production

269.1 kozs (90% growth from YTD 2018)

Strong Unit Cost Performance for YTD 2019

Op. cash costs: $1321/oz; AISC: $316/oz1

Significant production growth planned in Q3 & Q4 2019

1. See Non-IFRS Measures section in forward-looking statements slide

2019 MINE PLAN

FOSTERVILLE – SIGNIFICANT EXPLORATION POTENTIALKey Points:

Extensive commitment to continued growthSignificant growth in Mineral Reserves achieved, more to comeMultiple targets with quartz veining & visible gold detectedLODE program provides camp potential

21

LARGE ORE DEPOSIT EXPLORATION (“LODE”) PROGRAM: POTENTIAL FOR A NEW GOLD CAMP

FOSTERVILLE – IN-MINE TARGETS

22

9 KMSSTRIKE

HARRIER SOUTHHigh-potential target

Drilling commenced Q4 2018

SWANGrowing reserves

Identifying new targets

ROBBIN’S HILLHigh-potential target3 surface drills active

QUARTZ VEINS WITH VISIBLE GOLD



TOTAL RESERVE: 2.7 MILLION OUNCES @ 31.0 G/T (AS AT DECEMBER 31, 2018)

FOSTERVILLE – EXPLORATION MOVING FORWARD

Drilling extending mineralization along strikeVisible-gold intersected in drill core

HARRIER DEEP DRILLING – PLANNED FOR AUGUST TO END OF 2019

Robbin’s Hill

23

Lower Phoenix

Drilling extending mineralization to depthCygnet

Visible gold intersected in drill core

Harrier Deep

200 m exploration drift extension completedDrilling of deep anticline targets commencing

CANADIAN OPERATIONS IN NORTHERN ONTARIOCANADIAN OPERATIONS: THREE OPERATING MINES WITH TOTAL PRODUCTION OF ~8 MOZS OF GOLD

24

MACASSA – 5 MILLION OZS SINCE 1933

World Leader in Use of Battery-Powered Equipment

• Growing to over 400,000 ounces per year

25

• Mineral Reserves of 2.25 mozs @ 21.9 g/t

One of the lowest GHG emitters in the world

122.3155.2

175.2194.2

240.1

230-240

230-240245-255

+/- 400

2 01 4(A) 2015(A) 2016(A) 2017(A) 2018(A) 2019(F) 2020(F) 2021(F) 2022(F)

240-250

December 11, 2018 three-year guidance

May 7, 2019 revision to 2019 guidance

MACASSA – GROWING TO 400,000 OZS/YEAR

MACASSA GOLD PRODUCTION (KOZS)

26


MACASSA – YTD 2019 PRODUCTION OF 122.0 KOZS

27

YTD 2019 Production

49.2 kozs vs. 60.6 kozs in Q2 2018 and record production of 72.8 kozs in Q1 2019

YTD 2019 Unit Cost Performance

YTD 2019 Capital Expenditures

Sustaining: $32.1MGrowth: $58.8M

YTD 2019 Earnings from operations

$85.9M

1. See Non-IFRS Measures section in forward-looking statements slide

YTD production of 122.0 kozs, 6% higher than 114.6 kozs for YTD 2018

YTD: Op. cash costs: $384/oz1; AISC: $686/oz1



MACASSA – #4 SHAFT PROJECTKey Facts:

7,000 ft, 21.5 ft diameter concrete-lined shaftHosting capacity of 4,000 tpdTotal capital $320M:

Phase 1 $240MPhase 2 $80M

YTD 2019 capital expenditures: $42M

28

Benefits

De-risks operationsUnlocks exploration potentialImproved working conditionsDoubles production (well over 400 kozs/year)Lowers unit costs

MACASSA – SIGNIFICANT EXPLORATION POTENTIAL

Key Facts: Main/’04 Break accounts for most of 25M ounces of gold produced in Kirkland LakeAmalgamated Break largely unexplored

29

MACASSA: KEY EXPLORATION TARGETS

30

MACASSA: LONG-TERM EXPLORATION POTENTIAL

31

#4 Shaft completion commences new phase of exploration in Kirkland Lake

Key Points:

KL: SUPERIOR PERFORMANCE – STRONG VALUE CREATION

1. See Non-IFRS Measures section in forward-looking statements slide 32

Growing low-cost production

Industry-leading unit costs, earnings and cash flow

Significant exploration potential to drive future growth

Building cash position while internally funding growth

Increasing dividends, buying-back shares

Share price increased 62% YTD 2019 (TSX)

APPENDIX

33

KL: DELIVERING SUPERIOR SHAREHOLDER RETURNS

34

2017175% Increase

201885% Increase

2019+62% YTD

TSX:KL

GDXJ

GDX

Market Information

Stock Symbols: TSX,NYSE: KL, ASX: KLAMarket Capitalization: $12.4BCommon Shares O/S $210.2MAv. Daily Volume 2.5M sharesQuarterly Dividend $0.04/share

NORTHERN TERRITORYACCELERATING ADVANCED EXPLORATION

Drilling commenced in Q2 2019Pine Creek

35

Lantern and Cosmo

Drilling and development continuingResource model update continuingTest mining planned Union Reefs North/Prospect

Permitting for Prospect decline continuing

Development of Lantern Deposit in support of planned test mining

Lantern Deposit

Union Reefs South/Millars

Drilling in progress

HOLT COMPLEX HOLT, HOLLOWAY & TAYLOR MINES, HOLT MILL – POTENTIAL FOR GROWTH

36

Three mines and milling facility

Holloway mine resumed operations in early 2019 (on care and maintenance since Dec. 2016)

3,000 tpd processing capacity• Conventional CIL milling facility• 3 mill grinding circuit• Mill feed from Holt and Taylor mines

Production to increase• 24.7 Kozs Q2 2019• 55.4 kozs YTD 2019

Unit costs to improve as Holloway ramps up

Holt royalty structure impacts economics, Holloway royalty revised and amended

Attractive growth potential with improved economic structure

Gold Production (kozs)

Dec. 31/18 Dec. 31/17TONNES(000’S)

GRADE(g/t)

OUNCES (kozs)

TONNES(000’S)

GRADE(g/t)

OUNCES(kozs)

Reserves 4,588 4.4 644 4,744 4.3 663Resources1

(M&I)9,664 4.1 1,279 9,710 4.7 1,460

Resources (Inferred)

15,820 4.6 2,329 13,280 4.9 2,110

1. Mineral Resources are reported exclusive of Mineral Reserves. See Mineral Reserve and Mineral Resource disclosures at the end of the presentation.

MINERAL RESERVES AND MINERAL RESOURCES

HOLT MILL

56.4 55.4

YTD 2018 YTD 2019

Q2 2019 – SOLID EARNINGS AND CASH FLOW

1. See Non-IFRS Measures section in forward-looking statements slide2. Before changes in working capital 37

Solid production: 214.6 kozs

Low unit costs: op. cash costs $312/oz1, record AISC $638/oz1

Net earnings of $104.2 million ($0.50/share)• Adjusted net earnings $105.5 million ($0.50/share)1

Strong operating cash flow of $178.4 million ($0.88/share)2

Building financial strength while internally funding growth project• Cash increased $53.3 million or 13% to $469.4 million

YTD 2019 – RECORD HALF-YEAR

1. See Non-IFRS Measures section in forward-looking statements slide 38

Production: 446.5 kozs

Op. cash costs $301/oz1, record AISC $597/oz1

Net earnings of $214.3 million ($1.02/share)• Adjusted net earnings $217.7 million ($1.04/share)

Operating cash flow of $352.7 million ($1.68/share)

Free cash flow1 totalling $146.1 million

Strong growth in cash position• Cash increased $137.2 million or 41%

164.7180.2

231.2 231.9

0

50

100

150

200

250

Q 2 2 0 1 8 Q 3 2 0 1 8 Q 4 2 0 1 8 Q 1 2 0 1 9 Q 2 2 0 1 9

Q2 2019 – PRODUCTION

RECORD PRODUCTION AT FOSTERVILLE IN Q2 2019

FOSTERVILLE

MACASSA

HOLT COMPLEX

214.6

39

Q2 2019: 140.7 kozsQ1 2019: 128.4 kozsQ2 2018: 77.5 kozs



30% production growth from Q2 2018

YTD 2019 – PERFORMANCE AGAINST GUIDANCE

1. See Non-IFRS Measures section in forward-looking statements slide2. Includes general and administrative costs and severance payments. Excludes non-cash share-based payment expense 40

$ million unless otherwise states

2019 Guidance

YTD 2019 Actuals

AISC ($/oz)1 $520 – $560 $597

Operating cash costs1 $290 – $300 $133.7

Royalty expense $25 – $30 $15.0

Sustaining capital1 $150 – $170 $91.7

Growth capital1 $155 – $165 $88.3

Exploration $100 – $120 $72.3

Corporate G & A2 $26 – $28 $18.4

Macassa Holt Complex Fosterville 2019

GuidanceYTD 2019 Actuals

Production – 2019 guidance (kozs) 240 – 250 140 – 150 570 – 610 950 – 1,000

Production – YTD 2019 (ozs) 122.0 55.4 269.1 446.5

Op. cash costs ($/oz)1 $400 – $420 $660 – $680 $130 – $150 $285 – $305

Op. cash costs – YTD 2019 ($/oz) 1 $384 $906 $132 $301

Second-Half 2019 Outlook Production at Fosterville to increase Unit costs to improve Holt Complex production to increase,

costs to improve Macassa on track to achieve guidance

MINERAL RESERVES – DECEMBER 31, 2018

1. See Slide 43 and 44 for disclosures related to Mineral Reserves and Mineral Resources. 41

Mineral Reserves December 31, 2018 December 31, 2017Tonnes (000's)

Grade (g/t)

Gold Ozs(000’s)

Depleted Oz2017 (000’s)

Tonnes (000's)

Grade(g/t)

Gold Ozs (000’s)

Macassa 3,190 21.9 2,250 244 3,010 21.0 2,030Taylor 751 4.9 117 64 1,090 4.8 167Holt 3,580 4.3 491 75 3,600 4.2 486Hislop(1) 176 5.8 33 0 176 5.8 33Holloway(1) 257 4.3 36 1 54 5.8 10Total CDN Operations 7,950 11.4 2,920 384 7,930 10.7 2,730Fosterville 2,720 31.0 2,720 366 2,290 23.1 1,700Northern Territory(1) 666 5.0 107 0 2,800 2.4 215Total AUS Operations 3,390 25.9 2,820 366 5,090 11.7 1,910Total 11,340 15.8 5,750 750 13,020 11.1 4,640

MINERAL RESOURCES – DECEMBER 31, 2018

42

Measured & Indicated December 31, 2018 December 31, 2017Tonnes (000's)

Grade (g/t)

Gold Ozs (000’s)

Tonnes (000's)

Grade(g/t)

Gold Ozs (000’s)

Macassa 1,787 17.1 982 3,800 17.1 2,090Taylor 826 5.0 133 1,830 6.2 370

Holt 6,883 4.0 895 6,510 4.1 860Aquarius 22,300 1.3 926 22,300 1.3 930Holloway 1,955 4.0 251 1,370 5.3 230

Hislop 1,147 3.6 132 1,150 3.6 130Ludgate 522 4.1 68 520 4.1 70Canamax 240 5.1 39 240 5.1 40Total CDN Operations 35,660 3.0 3,426 37,720 3.9 4,720

December 31, 2018 December 31, 2017Fosterville 14,800 4.4 2,110 13,900 4.8 2,150Northern Territory 22,200 2.5 1,750 24,100 2.3 1,810

Total AUS Operations 36,900 3.3 3,860 38,000 3.2 3,960

1. See Slide 43 and 44 for disclosures related to Mineral Reserves and Mineral Resources.

MINERAL RESOURCES – DECEMBER 31, 2018

43

Inferred December 31, 2018 December 31, 2017Tonnes (000's)

Grade (g/t)

Gold Ozs (000’s)

Tonnes (000's)

Grade(g/t)

Gold Ozs (000’s)

Macassa 610 16.7 328 1,920 22.2 1,370Taylor 1,988 5.3 337 2,570 5.2 430Holt 8,523 4.7 1,286 8,000 4.8 1,220Holloway 5,309 4.1 706 2,710 5.2 460Hislop 797 3.7 95 800 3.7 100Ludgate 1,396 3.6 162 1,400 3.6 160Card 238 3.3 25 240 3.3 30Canamax 170 4.3 23 170 4.3 20Runway 213 3.7 25 210 3.7 20Total CDN Operations 19,253 4.8 2,987 18,020 6.6 3,810

Fosterville 10,300 5.5 1,830 8,280 7.1 1,900

Northern Territory 18,100 2.6 1,490 16,300 2.5 1,280

Total AUS Operations 28,400 3.6 3,320 24,580 4.0 3,180

1. See Slide 43 and 44 for disclosures related to Mineral Reserves and Mineral Resources.

FOOTNOTES TO MINERAL RESERVES AND MINERAL RESOURCES

44

Footnotes related to Mineral Reserve Estimates (dated December 31, 2018)

(1) CIM definitions (2014) were followed in the calculation of Mineral Reserves.(2) Mineral Reserves were estimated using a long-term gold price of US$1,230/oz (C$1,635/oz; A$1,710/oz).(3) Cut-off grades for Canadian Assets were calculated for each stope, including the costs of: mining, milling, General and

Administration, royalties and capital expenditures and other modifying factors (e.g. dilution, mining extraction, mill recovery).(4) Cut-off grades for Australian Assets from 0.4 g/t Au to 3.0 g/t Au, depending upon width, mining method and ground

conditions; dilution and mining recovery factors varied by property.(5) Mineral Reserves estimates for the Canadian Assets were prepared under the supervision of Pierre Rocque, P. Eng.(6) Mineral Reserves estimates for the Fosterville property were prepared under the supervision of Ion Hann, FAusIMM.(7) Mineral Reserves estimates for the Northern Territory property were prepared under the supervision of Pierre Rocque, P.Eng.(8) Mineral Reserves for Fosterville relate to Underground Mineral Reserves and do not include 649,000 tonnes at an average of

7.7 g/t for 160,000 ounces of Carbon-In-Leach Residues - 25% recovery is expected based on operating performances.(9) Totals may not add exactly due to rounding.

Footnotes related to Mineral Resource Estimates for Canadian Assets (dated December 31, 2018)

(1) CIM definitions (2014) were followed in the calculation of Mineral Resource.(2) Mineral Resources are reported Exclusive of Mineral Reserves. Mineral Resources were calculated according to KL Gold’s Mineral

Resource Estimation guidelines.(3) Mineral Resource estimates were prepared under the supervision of Eric Kallio, P. Geo. Senior Vice President, Exploration.(4) Mineral Resources are estimated using a long-term gold price of US$1,230/oz (C$1,635/oz).(5) Mineral Resources were estimated using a 8.6 g/t cut-off grade for Macassa, a 2.9 g/t cut-off grade for Holt, and a 2.6 g/t cut-off

grade for Taylor, a 3.9 g/t cut-off grade (Holloway), a 2.5 g/t cut-off grade for Canamax, Card, Runway and Ludgate, a 2.2 g/t cut-off grade for Hislop and 0 g/t cut-off grade for Aquarius.

(6) Totals may not add up due to rounding.

Footnotes related to Mineral Resource Estimates for Australian Assets (dated December 31, 2018)

(1) CIM definitions (2014) were followed in the estimation of Mineral Resource.(2) Mineral Resources are estimated using a long-term gold price of US$1,230/oz (A$1,710/oz)(3) Mineral Resources for the Australian assets are reported exclusive of Mineral Reserves.(4) Mineral Resources at Fosterville were estimated using cut-off grades 0.7 g/t Au for oxide and 1.0 g/t Au for sulfide

mineralization to potentially open-pitable depths of approximately 100m, below which a cut-off grade of 3.0 g/t Au was used.(5) Mineral Resources in the Northern Territory were estimated using a cut-off grade of 0.5 g/t Au for potentially open pit

mineralization and cut-offs of 1.0 to 2.0g/t Au for underground mineralization.(6) Mineral Resource estimates for the Fosterville property were prepared under the supervision of Troy Fuller, MAIG.(7) Mineral Resource estimates for the Northern Territory properties were prepared under the supervision of Owen Greenberger,

MAIG.(8) Totals may not add up due to rounding.

MINERAL RESERVES AND MINERAL RESOURCES

Cautionary Note to U.S. Investors - Mineral Reserve and Resource Estimates

All resource and reserve estimates included in this news release or documents referenced in this news release have been prepared inaccordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Instituteof Mining, Metallurgy and Petroleum (the "CIM") - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIMCouncil, as amended (the "CIM Standards"). NI 43-101 is a rule developed by the Canadian Securities Administrators, which establishedstandards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. The terms "mineralreserve", "proven mineral reserve" and "probable mineral reserve" are Canadian mining terms as defined in accordance with NI 43-101 and theCIM Standards. These definitions differ materially from the definitions in SEC Industry Guide 7 ("SEC Industry Guide 7") under the United StatesSecurities Act of 1933, as amended, and the Exchange Act.

In addition, the terms "Mineral Resource", "measured Mineral Resource", "indicated Mineral Resource" and "Inferred Mineral Resource" aredefined in and required to be disclosed by NI 43-101 and the CIM Standards; however, these terms are not defined terms under SEC IndustryGuide 7 and are normally not permitted to be used in reports and registration statements filed with the U.S. Securities and ExchangeCommission (the "SEC"). Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever beconverted into reserves. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as totheir economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a highercategory. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, exceptin very limited circumstances. Investors are cautioned not to assume that all or any part of a Mineral Resource exists, will ever be convertedinto a Mineral Reserve or is or will ever be economically or legally mineable or recovered.

Qualified Persons

Natasha Vaz, P. Eng., Vice President, Technical Services is a “qualified person” as such term is defined in NI 43-101 and has reviewed and approved the technical information in this presentation.

45

FOOTNOTES TO MINERAL RESERVES AND MINERAL RESOURCES

46

Footnotes related to Mineral Reserve Estimates (dated December 31, 2018)

(1) CIM definitions (2014) were followed in the calculation of Mineral Reserves.(2) Mineral Reserves were estimated using a long-term gold price of US$1,230/oz (C$1,635/oz; A$1,710/oz).(3) Cut-off grades for Canadian Assets were calculated for each stope, including the costs of: mining, milling, General and

Administration, royalties and capital expenditures and other modifying factors (e.g. dilution, mining extraction, mill recovery).(4) Cut-off grades for Australian Assets from 0.4 g/t Au to 3.0 g/t Au, depending upon width, mining method and ground

conditions; dilution and mining recovery factors varied by property.(5) Mineral Reserves estimates for the Canadian Assets were prepared under the supervision of Pierre Rocque, P. Eng.(6) Mineral Reserves estimates for the Fosterville property were prepared under the supervision of Ion Hann, FAusIMM.(7) Mineral Reserves estimates for the Northern Territory property were prepared under the supervision of Pierre Rocque, P.Eng.(8) Mineral Reserves for Fosterville relate to Underground Mineral Reserves and do not include 649,000 tonnes at an average of

7.7 g/t for 160,000 ounces of Carbon-In-Leach Residues - 25% recovery is expected based on operating performances.(9) Totals may not add exactly due to rounding.

Footnotes related to Mineral Resource Estimates for Canadian Assets (dated December 31, 2018)

(1) CIM definitions (2014) were followed in the calculation of Mineral Resource.(2) Mineral Resources are reported Exclusive of Mineral Reserves. Mineral Resources were calculated according to KL Gold’s Mineral

Resource Estimation guidelines.(3) Mineral Resource estimates were prepared under the supervision of Eric Kallio, P. Geo. Senior Vice President, Exploration.(4) Mineral Resources are estimated using a long-term gold price of US$1,230/oz (C$1,635/oz).(5) Mineral Resources were estimated using a 8.6 g/t cut-off grade for Macassa, a 2.9 g/t cut-off grade for Holt, and a 2.6 g/t cut-off

grade for Taylor, a 3.9 g/t cut-off grade (Holloway), a 2.5 g/t cut-off grade for Canamax, Card, Runway and Ludgate, a 2.2 g/t cut-off grade for Hislop and 0 g/t cut-off grade for Aquarius.

(6) Totals may not add up due to rounding.

Footnotes related to Mineral Resource Estimates for Australian Assets (dated December 31, 2018)

(1) CIM definitions (2014) were followed in the estimation of Mineral Resource.(2) Mineral Resources are estimated using a long-term gold price of US$1,230/oz (A$1,710/oz)(3) Mineral Resources for the Australian assets are reported exclusive of Mineral Reserves.(4) Mineral Resources at Fosterville were estimated using cut-off grades 0.7 g/t Au for oxide and 1.0 g/t Au for sulfide

mineralization to potentially open-pitable depths of approximately 100m, below which a cut-off grade of 3.0 g/t Au was used.(5) Mineral Resources in the Northern Territory were estimated using a cut-off grade of 0.5 g/t Au for potentially open pit

mineralization and cut-offs of 1.0 to 2.0g/t Au for underground mineralization.(6) Mineral Resource estimates for the Fosterville property were prepared under the supervision of Troy Fuller, MAIG.(7) Mineral Resource estimates for the Northern Territory properties were prepared under the supervision of Owen Greenberger,

MAIG.(8) Totals may not add up due to rounding.

going for gold in everything we do...$332 --$250 $500 $750 $1,000 $1,250 $1,500 $1,750 2018a 2019e...

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