Ms. Victoria Barrington reports

KINROSS ANNOUNCES US$500 MILLION UNSECURED 10-YEAR NOTES OFFERING TO REFINANCE ITS OUTSTANDING NOTES DUE 2024

Kinross Gold Corp. has priced an offering of debt securities consisting of $500-million (U.S.) aggregate principal amount of 6.25 per cent senior notes due 2033. The notes will be senior unsecured obligations of Kinross, and will be unconditionally and irrevocably guaranteed by certain of Kinross's wholly owned subsidiaries that are also guarantors under Kinross's senior unsecured credit agreements. The offering is expected to close on July 5, 2023, subject to customary closing conditions. Kinross intends to use the net proceeds from the offering to redeem all $500-million (U.S.) aggregate principal of its outstanding 5.95 per cent senior notes due 2024.

As of the date of this news release, Kinross has not issued a notice of redemption in respect of the 2024 notes. This news release shall not constitute a notice of redemption with respect to the 2024 notes.

The offering is being made to qualified institutional buyers pursuant to Rule 144A under the United States Securities Act of 1933 and outside the United States pursuant to Regulation S under the act.

About Kinross Gold Corp.

Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Kinross's focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange and the New York Stock Exchange.

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