Mr. Chris Lichtenheldt reports

KINROSS ANNOUNCES ROUTINE RENEWAL OF NCIB

The Toronto Stock Exchange has accepted the notice filed by Kinross Gold Corp. to renew its normal course issuer bid (NCIB) program. Under the NCIB program, the company is authorized to purchase up to 108,440,227 of its common shares (out of the 1,227,579,280 common shares outstanding as at July 31, 2023), representing up to 10 per cent of the company's public float of 1,084,402,272 common shares, during the period starting on Aug. 9, 2023, and ending on Aug. 8, 2024.

In deciding to establish the NCIB program, the company believes that the market price of the common shares may not, from time to time, fully reflect their value and, accordingly, the purchase of the common shares would be in the best interest of the company and an attractive and appropriate use of available funds.

Kinross may make purchases, from time to time, through the facilities of the TSX, the New York Stock Exchange and/or alternative Canadian trading systems, if eligible, or by such other means as may be permitted by the TSX and/or the NYSE or under applicable law. Daily repurchases on the TSX will be limited to a maximum of 780,692 common shares, representing 25 per cent of the average daily trading volume for the six months ended July 31, 2023 (being 3,122,768 common shares), except where purchases are made in accordance with the block purchase exception of the TSX rules. Subject to certain exceptions for block purchases, the maximum number of common shares which can be purchased per day on the NYSE will be 25 per cent of the average daily trading volume for the four calendar weeks preceding the date of purchase. All shares purchased by the company under the NCIB program will be cancelled. Pursuant to the terms of the previous normal course issuer bid approved by the TSX on July 29, 2022, as amended with such amendment approved by the TSX on Sept. 30, 2022, the company was authorized to repurchase up to 114,047,070 of its common shares and repurchased an aggregate of 78,857,250 common shares, which shares were cancelled. Purchases will be made by the company in accordance with the requirements of the TSX and/or the NYSE, and the price which the company will pay for any such common shares will be the market price of any such common shares at the time of acquisition, or such other price as may be permitted by the TSX and/or the NYSE.

In connection with the NCIB program, the company has entered into an automatic repurchase plan with its designated broker to allow for purchases of its common shares during certain predetermined blackout periods, based on company instructions provided when not in blackout, should the company determine to proceed with purchases under the ASPP. Outside of these predetermined blackout periods, any repurchases of common shares will be repurchased in accordance with management's discretion, subject to applicable law. Although the company has a present intention to acquire its common shares pursuant to the NCIB program, the company will not be obligated to make any purchases under this NCIB.

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.

We seek Safe Harbor.