CA UTI O N AR Y L AN G U A G E 2 C a u ti o n a r y No te Reg a r d i n g F o r w a r d L oo k i n g I n for m a t i on T he i nf o r m at i o n i n t hi s pr es en t at i o n has been pr epa r e d as at F ebr uar y 1 9 2 0 2 0 T hi s pr es en t at i o n c o nt ai ns f o r w ar d l o o k i n g s ta t e m e n ts a n d fo r w a r d l o o k i ng i nf o r m at i o n w i t hi n t he m eani n g o f appl i c a bl e s ec ur i t i es l aw s i nc l udi n g s t at em en t s r egar di ng t he pl ans i nt ent i o ns bel i ef s and c ur r en t ex pec t at i o ns o f Ki r k l an d L ak e G o l d w i t h r es pe c t t o f ut ur e bus i ne s s ac t i v i t i es and o per at i n g p e r f o r m a n c e F o r w a r d l o o k i n g i n fo r m a ti o n i s o fte n i d e n ti f i e d b y th e w o r d s m a y w o u l d c o u l d sh o u l d w i l l i n te n d p l a n a n ti c i p a te b e l i e v e e sti m a te e x p e c t o r si m i l a r e x p r e ssi o n s and i nc l ude i nf o r m at i o n r egar di ng i t he am o unt o f f ut ur e pr o duc t i o n o v er any per i o d i i as s um p t i o ns r el at i n g t o r ev enues o per a t i ng c as h f l o w and o t her r ev enue m et r i c s s et o ut i n t he C o m pany s di s c l o s u r e m at er i a l s and i i i f ut ur e ex pl o r at i o n pl ans I n v e sto r s a r e c a u ti o n e d th a t fo r w a r d l o o k i ng i nf o r m at i o n i s no t bas ed o n hi s t o r i c al f ac t s but i ns t ead r ef l e c t Ki r k l an d L ak e G o l d s m anage m e n t s ex pec t at i o ns es t i m at es o r pr o j ec t i o n s c o nc er ni ng f ut ur e r es ul t s o r ev ent s bas ed o n t he o pi ni o ns as s um p t i o ns and es t i m at e s o f m anage m e n t c o ns i de r ed r eas o na bl e at t he dat e t he s t at em ent s ar e m ade A l t ho ug h Ki r k l and L ak e G o l d bel i ev es t hat t he ex pec t at i o ns r ef l e c t e d i n s uc h f o r w ar d l o o k i ng i nf o r m a t i o n ar e r eas o na b l e s uc h i nf o r m a t i o n i nv o l v es r i s k s and unc er t a i n t i e s an d undue r el i an c e s ho ul d no t be pl ac ed o n s uc h i nf o r m at i o n as unk no w n o r unpr ed i c t ab l e f ac t o r s c o ul d hav e m at er i al adv er s e ef f e c t s o n f ut ur e r es ul t s per f o r m an c e o r ac hi ev em e n t s o f t he c o m bi n ed c o m p a ny A m o ng t he k ey f ac t o r s t hat c o ul d c aus e ac t ual r es ul t s t o di f f e r m a t e r i a l l y f r om t h os e p r oj e c t e d i n t h e f or w a r d l o o k i n g i nf o r m a t i o n ar e t he f o l l o w i n g t he f ut ur e dev el o pm e n t and gr o w t h po t ent i a l o f t he C anadi an and A us t r a l i an o per a t i o n s t he f ut ur e ex pl o r at i o n ac t i v i t i es pl anned at t he C anadi an and A us t r al i a n o per at i o n s and ant i c i pat e d ef f e c t s t her eo f c hanges i n gener a l ec o no m i c bu s i n es s and po l i t i c al c o ndi t i o n s i nc l udi ng c hange s i n t he f i nanc i a l m ar k e t s c hanges i n appl i c ab l e l aw s and c o m pl i an c e w i t h ex t ens i v e go v er nm en t r egul a t i o n E x pl o r at i o n r es ul t s t hat i nc l ude geo phy s i c s s am pl i n g and dr i l l r es ul t s o n w i de s pac i ngs m ay no t be i ndi c at i v e o f t he o c c ur r e n c e o f a m i ner al depo s i t S uc h r es ul t s do no t pr o v i de as s ur a nc e t hat f ur t he r w o r k w i l l es t abl i s h s uf f i c i e n t gr ade c o n t i n ui t y m et al l ur g i c a l c har ac t e r i s t i c s and ec o no m i c po t ent i al t o be c l as s ed as a c at ego r y o f m i ner a l r es o ur c e A m i ner al r es o u r c e t hat i s c l as s i f i ed as i nf er r e d o r i ndi c at e d has a gr eat am o unt o f unc er t a in t y as t o i t s ex i s t enc e and ec o no m i c and l egal f eas i bi l i t y I t c anno t be as s um e d t hat any o r par t o f an i ndi c a t ed m i ner al r es o ur c e o r i nf er r ed m i ner a l r es o ur c e w i l l ev er be upgr a de d t o a hi gher ca t ego r y o f r es o ur c e I nv es t o r s ar e c aut i o ne d no t t o as s um e t hat al l o r any par t o f m i ner al depo s i t s i n t hes e c at ego r i e s w i l l ev er be c o nv er t ed i nt o pr o v en and pr o bab l e r es er v es Th i s f o rwa r d l o o k i ng i nf o r m at i o n m ay be af f ec t ed by r i s k s and unc er t ai n t i e s i n t he bus i nes s o f Ki r k l and L ak e G o l d and m ar k e t c o ndi t i o n s T hi s i nf o r m a t i o n i s qual i f i e d i n i t s ent i r et y by c aut i o na r y s t at em en t s and r i s k f ac to r di s c l o s u r e c o nt ai ne d i n f i l i ng s m ade by Ki r k l an d L ak e G o l d i nc l udi ng i t s annual i nf o r m a t i o n f o r m f o r t he y ear ended D ec em be r 3 1 2 0 1 8 and t he f i nanc i al s t at em en t s and r el at ed MD A f o r t he f i nanc i al ye a r e n d e d De c e m b e r 31 2019 w h i c h a r e f i l e d w i t h t h e s e c u r i t i e s r egul a t o r y aut ho r i t i e s i n c er t ai n pr o v i nc es o f C anada and av ai l abl e at ww w s e d a r c o m S ho ul d o ne o r m o r e o f t hes e r i s k s o r unc er t ai nt i es m at er i al i z e o r s ho ul d as s um pt i o ns under l y i ng t he f o r w ar d lo o k i n g in f o r m a t i o n pr o v e i nc o r r e c t ac t ual r es ul t s m ay v ar y m at er i al l y f r o m t ho s e des c r i b e d her ei n as i nt ende d pl anne d ant i c i pa t ed bel i ev ed es t i m at ed o r ex pec t ed A l t ho ug h Ki r k l and L ak e G o l d has at t em pt ed t o i dent i fy i m po r t an t r i s k s unc er t ai nt i e s and f ac t o r s w hi c h c o ul d c aus e ac t ual r es ul t s t o di f f er m at er i al l y t her e m ay be o t her s t hat c aus e r es ul t s no t t o be as ant i c i pa t ed es t i m at ed o r i nt ende d Ki r k l an d L ak e G o l d do es no t i nt end and do no t as s um e any o bl i gat i o n t o updat e t hi s f o r w a r d l o o k i ng i nf o r m a t i o n ex c ept as o t her w i s e r equi r e d by appl i c a bl e l aw A l l do l l ar am o unt s i n t hi s pr es e nt a t i o n ar e ex pr es s e d i n U S do l l ar s ex c ept as o t her w i s e no t ed F o r f ur t he r det ai l s o f Ki r k l and L a k e G ol d s Q 4 2019 p r od u c t i o n r e s u l t s p l e a s e s e e t h e C om p a n y s p r e s s r el eas e s dat ed J anuar y 9 2 0 2 0 and F ebr ua r y 1 9 2 0 2 0 F o r f ur t her i nf o r m at i o n o n t he C o m pany s pr o duc t i o n gui danc e i nc l udi n g th e as s um pt i o n s and qual i f i c a t i o ns m ade pl eas e s ee t he C o m pany s p r e s s r e l e a s e s d a t e d De c e m b e r 18 2019 a n d Fe b r u a r y 19 2020 U s e of N on IF R S M ea s u r es T h i s P r e s e n t a t i o n r e f e r s t o a v e r a g e r e a l i z e d p r i c e op e r a t i n g c os t s op e r a t i n g c os t s p e r ou n c e s ol d a l l i n su sta i n i n g c o st A I S C per o unc e o f go l d s o l d f r ee c as h f l o w s us t ai ni n g c api t al ex pendi t ur e s and gr o w t h c api t al ex pendi t u r e bec aus e c er t ai n r eade r s m ay us e t hi s i nf o r m a t i o n t o as s es s t he C o m pany s per f o r m a nc e and al s o t o d e te r m i n e t he C o m pany s abi l i t y t o gener a t e c as h f l o w and m eet i t s ex pendi t ur e r equi r e m e nt s T hi s dat a i s f ur ni s h e d t o pr o v i de addi t i o n al i nf o r m a t i o n and ar e no n I F R S m eas ur e s and do no t hav e any s t andar d i z ed m eani ng pr es c r i be d by I nt er na t i o n a l F i nanc i al R epo r t i n g S t andar ds I F R S T hes e m eas ur e s s ho ul d no t be c o ns i de r e d i n i s o l at i o n as a s ubs t i t ut e f o r m eas ur e s o f per f o r m an c e pr epa r e d in ac c o r dan c e w i t h I F R S and ar e no t nec es s a r i l y i ndi c at i v e o f o per at i n g c os t s p r e s e n t e d u n d e r I FRS Re f e r t o e a c h C om p a n y s m os t r e c e n t M D A f or a r e c on c i l i a t i o n of t h e s e m e a s u r e s T he m o s t c o m par ab l e I F R S Meas u r e f o r o per at i n g c as h c o s t s o per a t i n g c as h c o s t s per o unc e s o l d and A I S C per o unc e s o l d i s pr o duc t i o n c o s t s as pr es e nt e d i n t he C o ns o l i da t e d S t at em en t s o f O per at i o ns and C o m pr ehe ns i v e I nc o m e w hi l e t o t al addi t i o ns and c o ns t r uc t i o n i n pr o gr es s ar e t he m o s t c o m par a b l e m eas u r e s f o r s us t ai ni n g and gr o w t h c api t al ex pendi t u r es