Ms. Samantha Sheffield reports

KINROSS RECOMMENDS SHAREHOLDERS REJECT TRC CAPITAL INVESTMENT'S BELOW-MARKET "MINI-TENDER" OFFER FOR COMMON SHARES

Kinross Gold Corp. has received notification that TRC Capital Investment Corp. made an unsolicited "mini-tender" offer on April 7, 2026, to purchase up to 2.5 million common shares of Kinross, or approximately 0.21 per cent of Kinross's shares outstanding, at a price of $41.75 per share. Kinross strongly recommends that its shareholders reject this offer and cautions its shareholders that the offer made is approximately 4.4 per cent below the closing price of $43.68 per Kinross share on the Toronto Stock Exchange on April 6, 2026, the day before the offer.

Kinross does not endorse TRC's unsolicited mini-tender offer, and is not affiliated or associated in any way with TRC Capital Investment.

TRC has made several similar unsolicited mini-tender offers for shares of other public companies. Mini-tender offers are designed to result in a holding of less than 5 per cent of a company's outstanding shares, thereby avoiding disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. Both the Canadian Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) recommend that investors exercise caution with mini-tender offers and have expressed serious concerns about them, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities.

The SEC has issued "Tips for Investors" regarding mini-tender offers, noting that some bidders, in making the offers at below-market prices, are "hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price." The SEC's advisory can be found on its website.

Information on the CSA's long-standing guidance on mini-tenders can be found on the Ontario Securities Commission website.

Brokers, dealers and other market participants are encouraged to exercise caution and review the letter regarding broker-dealer mini-tender offer dissemination and disclosures on the SEC website at:

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.