Kinross Gold CorporationKinross Gold CorporationCorporate OverviewCorporate Overview

November 2005November 2005

Driving Value GrowthDriving Value Growth

Legal NoticeLegal Notice

Certain statements set forth in this presentation constitute"forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties andother factors that may cause the actual results, performance or achievements to differ from those expressed or implied by such forward looking statements. Such risks and uncertainties are described in periodic filings made by Kinross Gold Corporation with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities.

All dollar amounts used throughout this presentation are expressed in US dollars, unless otherwise noted.

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Kinross: A Major Gold ProducerKinross: A Major Gold Producer

• 2005 estimated:• Gold production – 1.6 million ounces • Total cash costs – $275 per ounce

• ~4,000 employees in 6 countries

• Straight-forward balance sheet• Simple debt structure• No gold hedging

• Continuing reserve growth• 19.4 million ounces at Dec. 31/04 ($350/oz Au)

• Additional 4.8 million ounces of est. reserves at Paracatu* (at Oct. 31/05; $400/oz Au)

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* The reserve increase at Paracatu includes estimated depletion from January to October, 2005.

Global Reach; Americas FocusGlobal Reach; Americas Focus

Fort Knox (100%)Alaska, USA (Open Pit)

Musselwhite (32%)Ontario, Canada (U/G)

Porcupine (49%)Ontario, Canada (Open Pit, U/G)Kettle River (100%)

Washington, USA (U/G)

Round Mountain (50%)Nevada, USA (Open Pit)

La Coipa (50%)Chile (Open Pit)

Refugio (50%)Chile (Open Pit)

Paracatu (100%)Brazil (Open Pit)

Crixas (50%)Brazil (U/G) Blanket (100%)

Zimbabwe (U/G)

Kubaka (98.1%)Magadan, Russia (Open Pit, U/G)

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Kinross Success FactorsKinross Success Factors

• Exceptional EH&S record

• Experienced and driven management/ops teams

• Excellent spread of geopolitical risk: focus in Americas

• Strong portfolio of assets and JVs to work with

• Modern, high-capacity production base

• Building pipeline of development projects and exploration targets

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Attractive Asset LocationAttractive Asset Location2004 RESERVES

US Canada Brazil Chile Other

19.4 million ounces of gold at Dec. 31, 2004, an increase of 47% over 2002

Reserves located in politically stable countries6

46%17%

23%

11%

3%

2005 PRODUCTION

63% of production is North American based

65% of costs are US dollar based

8%

48%

15% 16%

13%

US Canada Brazil Chile Other

Large U.S. base offers security, lowers foreign exchange risk7

Attractive Asset LocationAttractive Asset Location

MineGold Equivalent

ProductionTotal Cash

Cost(ounces) ($/oz)

Fort Knox 338,334 $254Round Mountain 387,785 $214Porcupine 193,799 $232Musselwhite 76,640 $267Kettle River 96,789 $238New Britannia 23,652 $288Lupin 66,577 $351

Paracatu 92,356 $231La Coipa 150,887 $270Crixas 93,540 $132Refugio 9,809 $222

Kubaka 123,616 $298

Total Kinross 1,653,784 $242

2004 Production and Total Cash Cost2004 Production and Total Cash Cost

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Highlights 2004Highlights 2004

Production: 1.65 mm oz. (gold equiv.)

Cash flow from operating activities: $161.2 mm

Capital expenditures: $169.5 mm

Net loss: $55.9 mm (includes impairment charges of $59.9 mm)

Net reserve additions: 5.3 mm ozs.

Closed acquisition of 51% at Paracatu: $261 mm

Previous goodwill impairment charge of $143 mm in Q3 2004 eliminated as part of 2003 restatement

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2003 Restatement Summary2003 Restatement Summary

unaudited Previous Restated(all amounts are expressed in millions, except per share amounts) 2003 Change 2003Revenue 571.9$ -$ 571.9$ Depreciation, depletion and amortization 140.9$ 31.8$ 172.7$ Impairment charges (9.9)$ (406.8)$ (416.7)$ Net earnings (loss) attributable to common shareholders 19.7$ (425.7)$ (406.0)$ Basic and diluted earnings (loss) per share 0.06$ (1.38)$ (1.32)$

Cash and cash equivalents 245.8$ -$ 245.8$ Goodwill 918.0$ (575.6)$ 342.4$ Total assets 2,142.5$ (352.8)$ 1,789.7$ Total shareholders' equity 1,814.7$ (437.3)$ 1,377.4$

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New Carrying Values New Carrying Values –– Dec. 31/03Dec. 31/03

0

100

200

300

Paraca

tu

Gurup

i

Crixas

La C

oipa

Round

Mou

ntain

Musse

lwhit

e

Aquar

iusKett

le Rive

r

$ m

illio

ns

PP&E Mineral Int. & Exp. Properties Goodwill

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Cash Flow from OperationsCash Flow from Operations11

Growth

0

20

40

60

80

100

120

140

160$

mill

ions

1998 1999 2000 2001 2002 2003 2004

1. Before working capital adjustments

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Production and CostsProduction and Costs

1. Production and costs are for the 11 months of the assets acquired in the TVX/Echo Bay transaction from February to December 2003 only.2. Total Cash Costs are a non-GAAP measurement and should not be used in isolation as a substitute for measurers of performance prepared in accordance with GAAP.

Please see our press release of October 20, 2005 which can be found on our website at www.Kinross.com

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50

100

150

200

250

300

350

400

450

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005e

US$

-

0.3

0.5

0.8

1.0

1.3

1.5

1.8

2.0

Oun

ces

of P

rodu

ctio

n (m

illio

ns

Gold Equivalent Production Average Realized Gold Price Total Cash Costs

1

Avg. Realized Gold Price

Total Cash Costs2.

-

50

100

150

200

250

300

350

400

450

500

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005e

US$

-

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1.6

1.8

Oun

ces

of P

rodu

ctio

n (m

illio

ns)

Gold Equivalent Production Average Realized Gold Price Total Cash Costs

Expanding Cash Margin and Increasing Production Levels14

-

20

40

60

80

100

120

140

160

180

2000 2001 2002 2003 2004 2005e

Increasing cash margin

Growing Cash MarginsGrowing Cash Margins

Cash Margin Cash Margin –– Senior ProducersSenior Producers

50

100

150

200

2000 2001 2002 2003 2004 1H2005

US$

/oun

ce

New mont

Placer

Kinross

Barrick

2000 2001 2002 2003 2004 1H 2005 CAGR*Newmont $111 $87 $124 $163 $181 $182 10%Placer 179 155 161 148 151 125 (3%)Kinross 96 103 105 136 158 160 11%Barrick 191 164 165 191 179 184 (1%)

Source: Company Reports* Does not include 1H 2005

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Cash Margin Per Ounce Produced

Capital Projects Drive New Organic Capital Projects Drive New Organic GrowthGrowth

1. Refugio

2. PJV - Pamour

3. Puren

4. Round Mtn. Layback

5. Buckhorn

6. Paracatu Exp.16

First Full Year

2006

2006

2007

2007

2007

2008

Contributes

Q4 2005

Q4 2005

Q3 2006

Q4 2006

Q4 2006

Q4 2007

Refugio, Chile Refugio, Chile (50%, operator)(50%, operator)

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Restart is complete and contributing in 2005

Paracatu, Brazil Paracatu, Brazil (100%)(100%)

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Expansion study to be completed in 2006, will contribute late 2007 and beyond

Round Mountain, USA Round Mountain, USA (50%, operator)(50%, operator)

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Pit layback has begun, expect additional ore in late 2006

Round Mountain, USA Round Mountain, USA (50%, operator)(50%, operator)

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Deep underground exploration program; drifting has begun

Fort Knox, USA Fort Knox, USA (100%)(100%)

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La Coipa, Chile La Coipa, Chile (50%)(50%)

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Puren deposit pre-strip underway for contribution in 2006

Kettle River, USA Kettle River, USA (100%)(100%)

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Buckhorn Mountain – start-up in late 2006 after closing Crown Resources transaction

• Continue with strong EH&S component

• Growth from Core Operating assets

• Exit non-core assets

• Operational “Building Blocks” optimized

• Focus on quality mines, Kinross as operator

• Continuous cost control and gross margin focus

• Enhanced greenfield exploration

• Metrics: NAV / margin per ounce / CF per share

Kinross Driving ForwardKinross Driving Forward

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High PriorityMedium PriorityLow Priority

Exploration PrioritiesExploration Priorities

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Existing AssetsExploration Targets

Continued Reserve Growth Continued Reserve Growth –– at Oct./05at Oct./05

13.214.1

19.4

(1.9)

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2.9

4.3 (1.4)

4.8

Depletion31-Dec-02@ $300

31-Dec-03@ $325

ReserveAdditions

Acquisitions 31-Dec-04@ $350

Estimated Depletion

to 31-Oct-05

Paracatu Reserve

Additions@ $400

0

5

10

15

20

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Paracatu ExplorationParacatu Exploration

Paracatu Mine

Brazil

Rio de Janeiro

Town Limits

298,000E

8,100,000N

Brasilia210km

$400 Scoping Pit Crest

roads

Mine grade oreLow grade oreOld drill hole2004 drill holePhase A drill holes

Phase B drill holes

Phase C drill holes

Mineral Rights andSurface Access Area

300,000E 302,000E

8,098,000N

8,096,000N

Dec.04 Pit Outline

0 500 1000

metres

RPMPlant

Toe

Section 10200N

Total Drilling - 30,000m, 154 holes

ActiveMining Lease

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Paracatu Mine, Cross Section Paracatu Mine, Cross Section

7,500E 8,000E 8,500E

600m Elev.

400m Elev.

$400 Scoping Pit

Outline

0 100 200

metres

SurfaceWCR-706

0.60g/t Au / 80m100m South

0.59g/t Au / 111m

0.47g/t Au / 99m

0.50g/t Au / 16m

0.48g/t Au / 69m

0.44g/t Au / 144m

open west

Existing drill holePhase B completed drill holePhase C planned drill holeMetasiltstoneLateriteReserve mineralizationPotential mineralizationVisible mineralization

10,200N10,200NWest Rico Creek, Looking NorthWest Rico Creek, Looking North

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• Focus on large core assets

• Focus on the best people

• Focus on selected countries

• Focus on Kinross-operated assets

• Focus on increased exploration spend and JVs

Strategic FocusStrategic Focus

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Bullish On GoldBullish On Gold

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0.60

0.80

1.00

1.20

1.40

1.60

1.80

Jan-

02

Apr

-02

Jul-0

2

Oct

-02

Jan-

03

Apr

-03

Jul-0

3

Oct

-03

Jan-

04

Apr

-04

Jul-0

4

Oct

-04

Jan-

05

Apr

-05

Jul-0

5

Oct

-05

U.S.

India

Europe

Canada

Australia

South Africa

US$ weakness, Supply/Demand Fundamentals

Growth from the core

Location, location…

Management strength

Proven transactionalcapabilities

Disciplined capital and attention for assets that contribute value to Kinross

Asset portfolio in secure countries

Strong management team; excellence in operations and EH&S

Corporate transactions driven by value creation

Kinross Driving ForwardKinross Driving Forward

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Kinross Gold Corporation40 King Street West, 52nd Floor

Scotia PlazaToronto, ON M5H 3Y2

416-365-5123416-363-6622866-561-3636

info@kinross.com

Shares outstanding: 345.3 millionMarket cap.: US$2.6 billion (at Nov. 21, 2005)

KGC: NYSE (Common shares)K: TSX (Common shares)K.U: TSX (US dollar trading symbol)K.WT: TSX (Warrants expiring 05/12/07)

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