TD Mining Conference January 27-28, 2021

A Leading Senior Gold Producer

LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS …

WITH EXPLORATION UPSIDE

TD Mining Conference January 27-28, 2021

FORWARD-LOOKING INFORMATION

Cautionary Note Regarding Forward-Looking Information The information in this presentation has been prepared as at January 26, 2021. This presentation contains “forward-looking statements” and "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Kirkland Lake Gold with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and include information regarding: (i) changes in Mineral Resource estimates, potential growth in Mineral Resources, conversion of Mineral Resources to proven and probable Mineral Reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management; (ii) the amount of future production over any period; (iii) assumptions relating to revenues, operating cash flow and other revenue metrics set out in the Company's disclosure materials; and (iv) future exploration plans.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Kirkland Lake Gold's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made.

Although Kirkland Lake Gold believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the future development and growth potential of the Canadian and Australian operations; the future exploration activities planned at the Canadian and Australian operations and anticipated effects thereof; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation. Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves. This forward-looking information may be affected by risks and uncertainties in the business of Kirkland Lake Gold and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Kirkland Lake Gold, including its annual information form for the year ended December 31, 2019, and the financial statements and related MD&A for the financial year ended December 31, 2019 and for the interim period ended September 30, 2020, which are filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Kirkland Lake Gold has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended.

Kirkland Lake Gold does not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

All dollar amounts in this presentation are expressed in U.S. dollars except as otherwise noted.

Use of Non-IFRS Measures This Presentation refers to average realized price, operating costs, operating costs per ounce sold, all-in sustaining cost (“AISC”) per ounce of gold sold, free cash flow, sustaining capital expenditures and growth capital expenditure because certain readers may use this information to assess the Company’s performance and also to determine the Company’s ability to generate cash flow and meet its expenditure requirements. This data is furnished to provide additional information and are non-IFRS measures and do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”). These measures should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and are not necessarily indicative of operating costs presented under IFRS. Refer to each Company’s most recent MD&A for a reconciliation of these measures. The most comparable IFRS Measure for operating cash costs, operating cash costs per ounce sold and AISC per ounce sold is production costs as presented in the Consolidated Statements of Operations and Comprehensive Income, while total additions and construction in progress are the most comparable measures for sustaining and growth capital expenditures.

2

Fosterville

Macassa

 Three high-quality producers in low-risk jurisdictions  Highly profitable, generate substantial FCF  Significant value creation potential through continued exploration success

Detour Lake

3

RESPONSIBLE GOLD MINING AT KIRKLAND LAKE GOLD Environment  Environmental Stewardship; Biodiversity, Land Use, Mine Closure; Water, Energy, Climate Change Social  Health and Safety; Human and Labour Rights; Enhancing our Communities Governance  Ethical conduct; Understanding our Impacts; Managing our Supply Chain

4

ESG MILESTONES IN 2020 

Adopted World Gold Council’s Responsible Gold Mining Principles; Completed Year One External Assurance



Finalized policies and standards on Human Rights, Supplier Code of Conduct and Grievance Resolution



Verified that all active tailings facilities meet or exceed all MAC/CDA and ANCOLD guidelines



Received Tom Peters Memorial Mine Reclamation Award in recognition of Detour Lake Mine’s Progressive Reclamation Program aimed at reclaiming 10 hectares of land per year commencing in 2019



Achieved greenhouse gas (“GHG”) emissions well below industry averages, with Macassa continuing to have among the lowest GHG intensity rates in the industry



Macassa purchased industry’s first 50-tonne battery-powered underground haul truck in 2020, with delivery scheduled for Q1 2021



Launched $20 million donation program to support local health care agencies and community support groups in areas where the Company operates; A$1.0 million donated to support Australian bush fire relief and prevention.

5

STRONG PERFORMANCE IN ENVIRONMENTAL MANAGEMENT GHG SUMMARY – AN INDUSTRY LEADER All of Kirkland Lake Gold’s operations are considerably lower than the S&P Global’s average for gold mines and significantly lower than the World Gold Council’s average 1tonne of CO2/oz Au

6

HIGH-QUALITY ASSETS IN CANADA AND AUSTRALIA Highly profitable operations, three of the most compelling exploration stories Detour1 Reserves: 14.8 Mozs @ 0.97 g/t Production: 516.8 kozs FY 20202,3 Guidance: 680 – 720 kozs in 2021 – 23, 800 kozs in 20254 Exploration: Increasing evidence that much larger and higher-grade deposit exists than is currently in Mineral Reserves Fosterville1 Reserves: 2.1 Mozs @ 21.8 g/t Robbin’s Hill: 218 kozs @ 5.5 g/t Production: 640.5 kozs FY 2020 Guidance: 400 – 425 kozs in 2021, 325 – 400 kozs 2022 and 20234 Exploration: Large mineralized systems at Lower Phoenix, Cygnet, Robbin’s Hill and Harrier; Significant potential for additional high-grade zones

1) 2) 3) 4)

See information on Mineral Reserve and Mineral Resource estimates at end of full presentation.

For period from January 31, 2020 to December 31, 2020.

Transitioned to reduced operations due to COVID-19 near end of March 2020, workers recalled beginning in May 2020.

See press release dated December 10, 2020 for more information on the Company’s 2021 and 3-year production guidance.

Macassa1 Reserves: 2.4 Mozs @ 22.1 g/t Production: 183.0 kozs FY 20203 Guidance: 220 – 255 kozs 2021, 295 – 325 kozs 2022, 400 – 425 kozs 20234 Key project: New #4 Shaft to be completed in late 2022 Exploration: SMC continues to grow, highgrade mineralization intersected along both Amalgamated and Main Breaks

Consolidated Guidance 2021: 1,300 – 1,400 kozs 2022: 1,300 – 1,445 kozs 2023: 1,405 – 1,545 kozs

7

STRONG PRODUCTION GROWTH, LOW UNIT COSTS

STRONG PRODUCTION GROWTH (KOZS)

1,369.7

LOW AISC/OUNCE SOLD1 (US$/oz) $930 $812

974.6

$804 $685

723.7

$564

596.4 313.7 2016

1)

2017

2018

2019

Refers to All-In Sustaining Costs per ounce sold (See Non-IFRS Measures section in forward-looking statements slide).

2020

2016

2017

2018

2019

2 0 2 0 (9 M)

8

KL: LEADER IN LOW-COST PRODUCTION CONSENSUS ESTIMATES: 2021 AISC/OUNCE SOLD1 (US$/oz)

KL Guidance $790 – $810

$911

$926

$953

$988

$991

N ew mo nt

K i n ro s s

$792

K i r k l an d Lake Gold

N ewc rest

A gn i c o Eagl e

Bar r i c k

Source: CIBC Global Mining Group – Gold Comps (Jan. 4, 2021)

1)

Refers to All-In Sustaining Costs per ounce sold (See Non-IFRS Measures section in forward-looking statements slide).

9

STRONG GROWTH IN EARNINGS AND CASH FLOW All dollar amounts in US dollars unless otherwise indicated NET EARNINGS ($ MILLIONS)

104% increase in 2019

$560.1 $2.67/share

2019

$273.9 $1.30/share

2018

$132.4 $0.64/share

2017 2016

$42.1 $0.35/share $10 $30 $50 $70 $90$110$130$150$170$190$210$230$250$270$290$310$330$350$370$390$410$430$450$470$490$510$530$550$570$590

FREE CASH FLOW1 ($ MILLIONS)

81% growth in 2019

$463.0

2019

$255.2

2018

$178.0

2017

$113.9

2016

$10 $30 $50 $70 $90 $110 $130 $150 $170 $190 $210 $230 $250 $270 $290 $310 $330 $350 $370 $390 $410 $430 $450 $470 $490 1)

See Non-IFRS Measures section in forward-looking statements slide.

10

YTD 2020: CONTINUED STRONG PERFORMANCE YTD 2020 Refers to Period from January 1, 2020 to September 30, 2020 YTD NET EARNINGS ($ MILLIONS)

42% increase from first nine months of 2019

$555.1 $2.06/share

YTD 2020

$390.9 $1.86/share

YTD 2019

YTD 2020 adjusted net earnings of $647.8M or $2.40/share

$0 $20 $40 $60 $80$100$120$140$160$180$200$220$240$260$280$300$320$340$360$380$400$420$440$460$480$500$520$540$560

YTD FREE CASH FLOW1 ($ MILLIONS)

52% growth from first nine months of 2019

$500.6

YTD 2020

YTD 2019

1)

See Non-IFRS Measures section in forward-looking statements slide

$330.2

YTD 2020 FCF totalled $693.7M excluding $60.5 million of transaction costs and $132.6M non-recurring income tax payment in Australia related to 2019 income.

11

UNSURPASSED FINANCIAL STRENGTH  Cash at December 31, 2020: $848 million with no debt  Cash increased $141M or 20% in 2020  $731.6 million used for share purchases in 2020  $116.0 million used for dividends in 2020  $174.4 million received from sale of investments in Osisko Mining Inc., Novo Resources Corp. and De Grey Mining Ltd.  Impact of Detour Gold acquisition: o Added $173.9 million of cash

o Repaid Detour Gold’s $98.6 million of debt

o Used $30.3 million to close our hedge positions

o $60.5 million in transaction and restructuring costs

12

RETURNING CAPITAL TO SHAREHOLDERS  Returned $847.6M to shareholders in 2020 through share repurchases and dividends o Equates to $3.16 per share and $619 per ounce of FY 2020 production  Repurchased 18,925,900 shares in 2020 for $731.6 million o 1,074,100 shared repurchased in first week of January 2021 for $46.3 million o Company achieved goal of repurchasing 20 million shares as of January 8, 2021  Quarterly dividend tripled during 2020 reflecting two dividend increases o Doubled dividend in Q1 2020, from US$0.06/share to US$0.125/share o 50% increase effective Q4 2020 payment, to US$0.1875/share

$0.1875

US$0.125 US$0.125 US$0.125

50% Increase effective Q4 2020 US$0.06

C$0.01 C$0.01

Q2 2017

Q3 2017

C$0.02 Q4 2017

C$0.02 Q1 2018

C$0.03 Q2 2018

C$0.03 Q3 2018

C$0.04

C$0.04

Q4 2018

Q1 2019

US$0.04 US$0.04

Q2 2019

Q3 2019

Q4 2019

Q1 2020

Q2 2020

Q3 2020 Q4 2020

13

MACASSA – GROWING TO OVER 400,000 OZ/YEAR

Building a new, modern mine with exceptional upside

 Macassa is a high-grade underground mine located in Ontario, Canada  High-grade Mineral Reserve base (Reserves & Resource estimates as at Dec. 31 2019)1 o Mineral Reserves of 2.4M ozs @ 22.1 g/t, Near Surface: 0.1M ozs @ 10.7 g/t o M&I Mineral Resources of 0.7M ozs @ 13.8 g/t, Near Surface: N/M o Inferred Mineral Resources of 0.6M ozs @ 16.7 g/t, Near Surface: 0.1M ozs @ 11.5 g/t

Ontario

 One of the lowest GHG emitters in the world •

Macassa

World leader in the use of battery-powered equipment

Detour Lake Holt Complex

 Sinking new #4 Shaft – Target completion late 2022 •

Expected to grow gold production to over 400 koz per year at lower unit costs by 2023

 Significant exploration success being achieved •

Extending South Mine Complex to east and west, identifying high-grade mineralization along the Amalgamated Break, identified new, high-grade corridor along Main Break near new shaft location

 FY 2020 production of 183.0 kozs; 9M 2020 op. cash costs3 of $573/oz, AISC2,3 of $915/oz •

Reduced operations due to COVID-19, returned to normal workforce level by end of Q2 2020

Gold Production (koz)

Op. Cash Costs ($/oz)3

400 – 425

295 – 325

$573

$426

$414

2018

2019

220 – 255

241

$450 – $470

183

2019

2020

2 0 2 1 (F )

2 0 2 2 (F )

2 0 2 3 (F )

Refer to Slide 2 “Cautionary Language” regarding forward-looking information (1) As at December 31, 2019. Refer to Reserve and Resource Statements in Appendix of this presentation (2) Refers to all-in sustaining costs (3) Example of Non-IFRS measures, see Slide 2 for more information about Non-IFRS measures

2 0 2 0 (9 M)

2 0 2 1 (F ) (F): Forecast

14

MACASSA – #4 SHAFT  4,000 tpd hoisting capacity  To be completed in one phase to 6400’ by late 2022

FOSTERVILLE Q2 2019 MINE PLAN

 Benefits include production growth, lower unit costs, improved ventilation and working conditions and support L/T exploration across KL camp  Production to reach 400,000 – 425,000 in 2023  Unit costs to improve substantially  Sinking advanced to 4,240 feet as at Dec. 31/20  Project ahead of schedule

15

MACASSA: KEY EXPLORATION TARGETS

16

MACASSA – SIGNIFICANT EXPLORATION POTENTIAL  New high-grade corridor identified along Main Break, below historic mining  Areas of high-grade mineralization identified along Amalgamated Break  Significant potential at depth as Main/’04 and Amalgamated Breaks plunge together

17

MACASSA – ENCOURAGING DRILL RESULTS Exceptional Grades Intersected Near Contact of SMC & Amalgamated Break

FOSTERVILLE Q2 2019 MINE PLAN

18

EXPANDING LOWER SMC FOSTERVILLE Q2 2019 MINE PLAN

19

ENCOURAGING RESULTS ALONG AMALGAMATED BREAK FOSTERVILLE Q2 2019 MINE PLAN

20

NEW HIGH-GRADE CORRIDOR

21

DETOUR LAKE – RIGHT ACQUISITION AT RIGHT TIME A Large-scale open pit with transformational potential  Large base of Mineral Reserve base (Reserves & Resource estimates as at Dec. 31 2019)1 o Mineral Reserves of 14.8M ozs @ 0.97 g/t o M&I Mineral Resources of 3.9M ozs @ 1.08 g/t, Underground: 0.5M ozs @ 5.80 g/t o Inferred Mineral Resources of 1.1M ozs @ 0.82 g/t, Underground: 0.1M ozs @ 4.35g/t

 Annual production increasing to 680 – 720 kozs in 2021, with current Mineral Reserve life of well over 20 years  Targeting significant growth in Mineral Reserves through extensive drilling

Ontario

Detour Lake Holt Complex

Macassa

o Growth in reserves to support strong production growth, improved unit costs o Achieving exploration success: Saddle Zone (Main and West Pits), 58 N, North Pit, regional exploration upside

 Generated 40% of KL’s total FCF from in first nine months of 2020 ($231 million2)

 FY 2020 production of 516.8 kozs, YTD 2020 op. cash costs3 of $630/oz, AISC3,4 of $1,156/oz o

Reduced operations due to COVID-19 starting from mid-March

Gold Production (koz)

•

680 – 720

680 – 720

680 – 720

AISC3,4/oz Sold 9M 2020: $1,156 2021 Guidance: <$900

602 517

2019

2020

2 0 2 1 (F )

2 0 2 2 (F )

Refer to Slide 2 “Cautionary Language” regarding forward-looking information (1) (2) (3) (4)

2 0 2 3 (F )

(F): Forecast

As at December 31, 2019. Refer to Reserve and Resource Statements in Appendix of this presentation.

Free cash flow from January 31, 2020 to September 30, 2020, excludes non-recurring transaction and restructuring costs.

Example of Non-IFRS measures, see Slide 2 for more information about Non-IFRS measures .

Refers to all-ins sustaining costs.

22

DETOUR LAKE – GEOLOGICAL VIEW

23

CONTINUED EXPLORATION SUCCESS IN SADDLE ZONE FOSTERVILLE Q2 2019 MINE PLAN

24

CONTINUED EXPLORATION SUCCESS IN SADDLE ZONE FOSTERVILLE Q2 2019 MINE PLAN

• Growing evidence of large, continuous deposit between & around Main and West pit locations • Intersections to depth of 820 m in eastern portion of Saddle Zone • Intersections up to 550 m below reserve shell in west portion of Saddle Zone • High-grade intersections at depth support potential for underground mining operations • Mineralization intersected 200 m west of west pit location

25

FOSTERVILLE – HIGHLY-PROFITABLE PRODUCTION Low-cost operations – Highly leveraged to continued exploration success  Fosterville is a high-grade, low cost-underground mine located in Victoria State, Australia

Northern Territory

 High-grade Mineral Reserve base (Reserves & Resource estimates as at Dec. 31, 2019)1 o Mineral Reserves of 2.1M ounces at 21.8 g/t, Robbin’s Hill: 0.2M ozs @ 5.5 g/t o M&I Mineral Resources of 2.1M ozs @ 5.3 g/t, Robbin’s Hill: 0.4M ozs @ 3.5 g/t o Inferred Mineral Resources of 1.7M ozs @ 6.4 g/t, Robbin’s Hill: 0.4M ozs @ 4.5 g/t

Australia

 Record FY 2020 production of 640.5 kozs, 3% increase from 619.4 kozs in 2019

Fosterville

 YTD 2020, op. cash costs2 of $132/oz and AISC2,3 of $311/oz  Reducing production to increase sustainability of operations while exploration continues  Substantial exploration potential – Lower Phoenix (including Swan Zone), Robbin’s Hill, Cygnet and Harrier  Robbin’s Hill provides potential for second mining operation to feed Fosterville Mill Gold Production (koz) 619

Op. Cash Costs ($/oz)2

640

$230 – $250 400 – 425

325 – 400

325 – 400

$200 $119

2019

2020

2 0 2 1 (F )

2 0 2 2 (F )

Refer to Slide 2 “Cautionary Language” regarding forward-looking information (1) (2) (3)

2 0 2 3 (F )

As at December 31, 2019. Refer to Reserve and Resource Statements in Appendix of this presentation Example of Non-IFRS measures, see Slide 2 for more information about Non-IFRS measures Refers to all-in sustaining costs

2018

2019

$132

2 0 2 0 (9 M)

2 0 2 1 (F ) (F): Forecast

26

FOSTERVILLE – ENCOURAGING DRILL RESULTS

27

FOSTERVILLE – SWAN AND CYGNET Infill Drilling at Swan Key intercepts: 976 g/t Au over 7.4 m (ETW 7.0 m); 933 g/t Au over 6.4 m (ETW 5.8 m); 416 g/t Au over 6.8 m (ETW 5.6 m); and 222 g/t Au over 8.1 m (ETW 7.3 m)

Extension drilling at Cygnet Key intercepts: 13.6 g/t Au over 6.6 m (ETW 5.9 m); 12.7g/t Au over 2.1 m (ETW 2.1 m); and 5.4 g/t Au over 9.7 m (ETW 8.0 m)

Infill drilling in Swan Zone returns higher than expected grades 950 M extension of Phoenix structure

Significant potential at Cygnet

28

FOSTERVILLE – RECENT DRILLING

29

FOSTERVILLE – ROBBIN’S HILL  Demonstrated substantial scale of mineralized system  Intersected highgrades with VG 950 m down-plunge of Mineral Resources

Cygnet zone 650 m strike length, 300 m vertical depth

30

KL: QUALITY ASSETS – POISED FOR VALUE CREATION  Macassa, Detour Lake, Fosterville – highly profitable, cash flow generating assets with growth  Strong earnings and cash flow performance  Unsurpassed financial strength – substantial liquidity, no debt  Committed to returning capital to shareholders  Projects advancing well in support of long-term performance of key assets  Achieving substantial exploration success  Detour Lake – Right acquisition at the right time

KL: DELIVERING PERFORMANCE WITH VALUE CREATION UPSIDE 31

FOSTERVILLE

MACASSA

DETOUR LAKE

Appendix 32

ESG IMPLEMENTATION PROCESS Summary  

Introduced needs-based approach in response to emerging legislation and immediate needs Became member of the World Gold Council, and initiative membership to Mining Association of Canada

Key Initiatives       

Initiated corporate and site-level WGC RGMPs and MAC TSM gap-assessment and engaged consultant for third-party review.

Developed Human Rights Policy outlining compliance with international statutes and commitments to preventing or benefitting from human rights abuses within the company or its supply chain.

Implemented Supplier Code of Conduct for responsible sourcing, which includes ability to do internal audits against Company standards.

Researched software for supply chain risk management, including for forced labor screening, segmentation and due-diligence.

Developed Communities & Stakeholder Standard to structure community and indigenous engagement approaches.

Developed Community Feedback Standard for processing of grievances, now implemented at Macassa.

Developing an auditable greenhouse gas accounting tool to track greenhouse gases on a monthly basis

Compliance & Reporting  Sustainability Report  ESTMA

Membership

 Ontario Mining Association  Minerals Council of Australia  World Gold Council

33

KIRKLAND LAKE GOLD A COMMITTED AND VALUED MEMBER OF THE COMMUNITY Significant employer in Northern Ontario and Victoria

~3,000 (hourly, staff, contractors) $270M in labour costs (CDN Ops in 20192) Annual total investments & expenditures

~$1.5 Billion

Total goods & services expenditures2 (CDN Ops.)

~$400M in goods & services (38% in N. Ontario, 74% in Ontario, 97% in Canada) Total goods & services expenditures2 (Aus Ops.)

~$110M in goods & services (7% in Bendigo, 53% in Victoria, 98% Australia) Donations and other Community Support

Committed to donating $20 million in support of local health care and community groups

1.

2.

Includes operating costs, capital expenditures and exploration spending.

Pro forma to include Detour Lake.

34

KEY DEVELOPMENTS – NON-CORE ASSETS  Holt Complex and Northern Territory assets designated non-core in February 2020  Holloway Mine transitioned to care and maintenance  Discontinued all test mining and milling in Northern Territory – ceased all exploration o

$60 – $65m rehabilitation program commenced Q3 2020

 Suspended operations at remainder of Holt Complex effective April 2, 2020 o

July 2020 – Announced suspension of operations would be extended indefinitely; over 200 workers reassigned and/or offered new roles within Canadian Operations, remainder of workforce given severance

o

Strategic alliance agreement signed with Newmont Canada related to exploration opportunities around each company’s land positions in Northern Ontario •

Agreement provides Newmont with option on claims at Holt Mine

35

FY 2021 – GUIDANCE Production – 2021 guidance (kozs) Op. cash costs ($/oz)1

Detour Lake

Fosterville

2021 Guidance

220 – 255

680 – 720

400 – 425

1,300 – 1,400

$450 – $470

$580 – $600

$230 – $250

$450 – $475

$ million unless otherwise states

2021 Guidance

($/oz)1

$790 – $810

AISC

Operating cash costs1 Royalty expense

$600 – $630 $82 – $88

Three-Year Production Guidance Kozs

2021

2022

2023

Macassa

220 – 255

295 – 325

400 – 425

Detour Lake

680 – 720

680 – 720

680 – 720

400 – 425

325 – 400

325 – 400

1,300 – 1,400

1,300 – 1,445

1,405 – 1,545

Sustaining capital1

$280 – $310

Fosterville

Growth capital1

$250 – $275

Consolidated

Exploration

$170 – $190

Corporate G&A2

1.

2.

Macassa

$50 – $55

See Non-IFRS Measures section in forward-looking statements slide Includes general and administrative costs and severance payments. Excludes non-cash share-based payment expense

36

Q4 & FY 2020 – PRODUCTION RESULTS Production Results Fosterville Ore Milled (tonnes) Grade (g/t Au) Recovery (%) Gold Production (ozs) Macassa Ore Milled (tonnes) Grade (g/t Au) Recovery (%) Gold Production (ozs) Detour Lake1 Ore Milled (tonnes) Grade (g/t Au) Recovery (%) Gold Production (ozs) Holt Complex2 Ore Milled (tonnes) Grade (g/t Au) Recovery (%) Gold Production (ozs) Total Consolidated Production (ozs)3 Total Consolidated Gold Sales (ozs) 1) 2)

3)

Q4 2020

Q4 2019

Q3 2020

FY 2020

FY 2019

183,635 28.1 98.9 164,008

121,998 49.3 99.2 191,893

167,533 30.3 99.0 161,489

593,343 33.9 98.9 640,467

492,874 39.6 98.8 619,366

74,353 22.4 97.7 52,283

87,573 20.5 97.8 56,379

78,526 15.4 97.8 38,028

312,758 18.6 97.7 183,038

324,077 23.6 97.9 241,297

5,829,230 0.89 91.8 153,143

-

5,898,694 0.81 90.7 140,067

21,091,938 0.83 91.3 516,757

-

369,434 371,009

252,801 4.1 94.1 31,469 279,742 278,438

339,584 331,959

215,318 4.5 93.6 29,391 1,369,652 1,388,944

853,528 4.4 94.7 113,952 974,615 979,733

The Detour Lake Mine was acquired on January 31, 2020. FY 2020 production represents output from that date to December 31, 2020.

The Holloway Mine, a component of Holt Complex, was placed on care and maintenance in March 2020 with no plans for a resumption of operations. The remainder of the Holt Complex was placed on temporary suspension effective April 2, 2020 as part of the Company’s COVID-19 response. In July 2020, the Company announced that operations at the Holt Complex would remain suspended until further notice Production numbers may not add to totals due to rounding.

37

Q3 & FIRST NINE MONTHS 2020 PERFORMANCE (in thousands of dollars, except per share amounts) Revenue Production costs Earnings before income taxes Net earnings Basic earnings per share Diluted earnings per share Cash flow from operating activities Cash investment on mine development and PPE

Tonnes milled Average Grade (g/t Au) Recovery (%) Gold produced (oz) Gold Sold (oz) Average realized price ($/oz sold)(1) Operating cash costs per ounce ($/oz sold)(1) AISC ($/oz sold)(1) Adjusted net earnings(1) Adjusted net earnings per share(1) Free cash flow(1)

1.

Three Months Ended September 30, 2020 $632,843 136,023 295,316 $202,022 $0.73 $0.73 $431,119 $155,428

Three Months Ended September 30, 2019 $381,430 73,664 254,119 $176,604 $0.84 $0.83 $316,753

Three Months Ended June 30, 2020 $580,975 141,415 225,282 $150,232 $0.54 $0.54 $222,234

$135,449

$128,155

Nine Months Ended September 30, 2020 $1,768,556 439,030 815,123 $555,132 $2.06 $2.05 $894,859 $394,220

Nine Months Ended September 30, 2019 $967,609 209,865 566,140 $390,945 $1.86 $1.85 $672,290 $342,104

Three Months Ended Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended September 30, 2020 September 30, 2019 June 30, 2020 September 30, 2020 September 30, 2019 6,144,753 419,787 5,863,282 16,126,140 1,208,106 1.8 18.8 1.8 2.0 18.3 95.3 % 97.9 % 95.8 % 95.6 % 98.0 % 339,584 248,400 329,770 1,000,218 694,873 331,959 256,276 341,390 1,017,935 701,296 $1,907 $1,482 $1,716 $1,734 $1,375 $406 $886 $249,251 $0.91 $275,691

$287 $562 $167,532 $0.80 $181,304

See Non-IFRS Measures section in forward-looking statements slide general and administrative costs and severance payments. Excludes non-cash

$374 $751 $219,345 $0.79 $94,079

$407 $804 $647,765 $2.40 $500,639

$296 $584 $391,109 $1.86 $330,186

38

YTD 2020 – PERFORMANCE AGAINST GUIDANCE Production – 2020 guidance (kozs) Production – FY 2020 (ozs) (Full-Year) Op. cash costs ($/oz)1

Macassa

Detour Lake

Holt Complex

Fosterville

2020 Guidance

210 – 220

520 – 540

29

590 – 610

1,350 – 1,400

183,038

516,757

29,391

640,467

$490 – $510

$610 – $630

$955

$130 – $150

$573

$630

$1,000

$132

Op. cash costs – YTD (9M) 2020 ($/oz) 1

$ million unless otherwise states

1,369,652 $410 – $430 $407

2020 Guidance

YTD (9M) 2020 Actuals

AISC ($/oz)1

$790 – $810

$804

Operating cash costs1

$560 – $580

$414.1

 Unit costs in line with guidance after 9 months

$80 – $85

$62.0

Sustaining capital1

$390 – $400

$286.5

 Capital expenditures to increase based on new projects/initiatives at Detour Lake

Growth capital1

$95 – $105

$59.4

Exploration

$130 – $150

$87.0

$50 – $55

$38.7

Royalty expense

Corporate G&A2

1.

2.

YTD 2020 Actuals

See Non-IFRS Measures section in forward-looking statements slide Includes general and administrative costs and severance payments. Excludes non-cash share-based payment expense

YTD (9 Months) 2020 Performance  On track to achieve all 2020 consolidated guidance

 Exploration to ramp up in Q4 2020

39

HOLT COMPLEX Three underground mines feeding a central mill facility in Ontario, Canada  The Holt Complex comprises three mines (Holt, Holloway, and Taylor), all feeding the Holt Mill in Ontario, Canada  Resumed operations at Holloway in early 2019 after the Holloway royalty agreement was revised and amended o Had been on care and maintenance since December 2016

 Holloway Mine returned to care and maintenance in March 2020  Operations designated as non-core on February 19, 2020, Company reviewing strategic options for maximizing value.  Holt Complex operations temporarily suspended effective April 2, 2020

 Suspension of operations extended until further notice in July 2020  Produced 29,391 ounces, mostly in Q1 2020

Gold Production (koz) 121

117

127

2016

2017

2018

Refer to Slide 2 “Cautionary Language” regarding forward-looking information

180-190 150-160 114

2019E

Ontario Macassa

2020E

Detour Lake Holt Complex • Holt • Taylor • Holloway

2021E 40

NORTHERN TERRITORY Group of mineral tenements which include the Cosmo Mine and Union Reefs Mill •

Northern Territory is comprised of a group of mineral tenements totaling over 2,000 km2 in the Northern Territory of Australia •

•

Operations placed on care and maintenance in 2017

Exploration programs continued, advanced exploration commenced in 2018 •

Commenced test processing of Lantern Deposit material at the Union Reefs mill in October 2019

•

Operations designated as non-core on February 19, 2020, Company reviewing strategic options for maximizing value.

•

Test mining/processing and exploration work discontinued in March 2020; extensive rehabilitation program underway

Regional Production History Goldfield Union Reefs Pine Creek Cosmo/Howley Goodall Moline Brocks Creek Mt. Bundy/Toms Gully Mt. Todd Mt. Bonnie Rustlers Roost (Heap Leach) Total

Years of Operation 1994-2017 1986-1996 1987-1995 1988-1993 1988-1992 1996-2000 1988-2011 1993-2000 1983-1986 1994-1998

Owned by Kirkland Lake Gold Tonnes

Grade (g/t)

30,360,000 12,280,000 10,910,000 4,100,000 1,600,000 5,570,000 1,640,000 12,010,000 670,000 4,580,000 83,720,000

1.69 2.37 2.17 1.99 2.14 1.64 5.14 0.90 3.50 0.75 1.79

Refer to Slide 2 “Cautionary Language” regarding forward-looking information

Northern Territory

Production Production (koz Gold) (tonnes) 1,532 774 670 228 100 270 240 347 75 110 4,346

47.7 24.1 20.9 7.1 3.1 8.4 7.5 10.8 2.3 3.4 135.3

Australia Fosterville

41

KIRKLAND LAKE GOLD MINERAL RESERVE ESTIMATE December 31, 2019

Grade

2019 (000’s)

Tonnes (000's)

(g/t)

Gold Ozs (000’s)

2,360

246

3,190

21.9

2,250

10.7

93

-

-

-

-

5,432

4.0

702

120

4,588

4.4

644

176

5.8

33

-

176

5.8

33

9,200

10.8

3,190

367

7,950

11.4

2,920

Detour Lake Pit

397,680

0.99

12,640

West Detour Pit

54,920

0.94

1,660

North Pit

5,950

0.98

187

Detour Low Grade Fines

18,900

0.59

360

Total CDN Open Pit

477,450

0.97

14,846

0

0

0.00

0

Total CDN Operations

486,650

1.15

18,030

367

7,950

11.4

2,920

Fosterville

3,000

21.8

2,100

627

2,720

31.0

2,720

Robbins Hill

1,240

5.5

218

-

-

-

-

988

4.0

128

10

666

5.0

107

5,220

14.6

2,450

637

3,390

25.9

2,820

491,900

1.29

20,470

1,004

11,340

15.7

5,740

Proven and Probable Macassa Macassa Near Surface Holt Complex(1) Hislop(1) Total CDN Underground

Northern Territory(1) Total AUS Operations Total (1)

December 31, 2018

Tonnes (000's)

Grade (g/t)

Gold Ozs (000’s)

Depleted Oz

3,320

22.1

273

The Hislop mine is a former producer acquired as part of the St Andrew Goldfields acquisition in January 2016. Hislop has not been operated since the acquisition. The Holloway mine was placed on care and maintenance effective December 31, 2016 and resumed operation in the first quarter 2019. The Cosmo mine and Union Reefs mill were placed on care and maintenance effective June 30, 2017.

Note: See disclosures on Kirkland Lake Gold Mineral Reserves and Mineral Resources later in this presentation

42

KIRKLAND LAKE GOLD MINERAL RESOURCE ESTIMATE Measured & Indicated

December 31, 2019

December 31, 2018

Tonnes (000's)

Grade (g/t)

Gold Ozs (000’s)

Tonnes (000's)

Grade (g/t)

Gold Ozs (000’s)

Macassa

1,616

13.8

717

1,621

17.0

886

Macassa Near Surface Holt Complex

47 7,752

7.8 4.2

12 1,047

167 9,664

17.9 4.1

96 1,279

Hislop

1,147

3.6

132

1,147

3.6

132

2,900 240 13,702

5.8 5.1 5.7

534 39 2,482

522 240 13,360

4.1 5.1 5.8

68 39 2,500

81,400 31,000

1.15 0.88

3,003 878

22,300

1.29

926

22,300

1.29

926

Total Canada Open Pit

134,700

1.1

4,807

22,300

1.3

926

Total CDN Operations

148,402

1.5

7,290

35,660

3.0

3,426

Fosterville

December 31, 2019 12,300 5.3 2,080

December 31, 2018 11,600 5.0 1,850

Robbin’s Hill

3,460

3.5

386

3,210

2.5

256

Northern Territory

17,200

2.5

1,410

22,200

2.5

1,750

Total AUS Operations

32,900

3.7

3,870

36,900

3.3

3,860

Canada Ops – Underground

Detour Zone 58N Ludgate Canamax Total Canada Underground Canada Ops – Open Pit Detour Lake West Detour Aquarius

Note: See disclosures on Kirkland Lake Gold Mineral Reserves and Mineral Resources later in this presentation

43

KIRKLAND LAKE GOLD MINERAL RESOURCE ESTIMATE Inferred

Canada Ops – Underground Macassa Macassa Near Surface Holt Complex Hislop Detour Zone 58N Ludgate Canamax Total Canada Underground Canada Ops – Open Pit Detour Lake West Detour Total Canada Open Pit Total CDN Operations Fosterville Robbin’s Hill Northern Territory Total AUS Operations

Note: See disclosures on Kirkland Lake Gold Mineral Reserves and Mineral Resources later in this presentation

December 31, 2019

December 31, 2018

Tonnes (000's)

Grade (g/t)

Gold Ozs (000’s)

Tonnes (000's)

Grade (g/t)

Gold Ozs (000’s)

1,039 146 9,097 797 1,000 170 12,248

16.7 11.5 4.4 3.7 4.4 4.3 5.5

557 54 1,294 95 136 23 2,160

580 30 15,820 797 1,396 170 18,792

16.8 15.5 4.6 3.7 3.6 4.3 4.9

313 15 2,329 95 162 23 2,937

33,600 0.79 9,300 0.95 42,900 0.82 55,148 1.9 December 31, 2019 8,450 6.4 2,670 4.5 15,200 2.6 26,400 4.0

855 282 1,137 3,297 1,740 383 1,270 3,390

18,792 4.9 2,937 December 31, 2018 6,930 6.0 1,330 3,390 4.6 504 18,100 2.6 1,490 28,400 3.6 3,320

44

SWAN MINERAL RESERVE & RESOURCE ESTIMATE

Swan(1) Mineral Reserves Proven Probable Proven + Probable Mineral Resources Measured Indicated Measured + Indicated Inferred 1.

December 31, 2019 Tonnes Grade Gold Ounces (000's) (g/t) (000’s)

December 31, 2018 Tonnes Grade Gold Ounces (000's) (g/t) (000’s)

% Change Gold Gold Grade Ounces

493 764

40.5 37.4

641 919

62 1,410

27.6 50.6

55 2,290

47 -26

1,065 -60

1,260

38.6

1,560

1,470

49.6

2,340

-22

-33

Exclusive of Mineral Reserves

Exclusive of Mineral Reserves

30 59

46.4 18.2

45 34

2 32

59.6 15.7

4 16

-22 16

1,051 110

89

27.7

79

34

18.3

20

51

293

93

19.3

57

249

13.4

107

44

-47

The Swan Zone Mineral Reserve and Mineral Resource estimates are components of the estimates for the Fosterville mine.

Note: See disclosures on Kirkland Lake Gold Mineral Reserves and Mineral Resources later in this presentation

45

NOTES TO KIRKLAND LAKE GOLD MINERAL RESERVES & MINERAL RESOURCES Detailed footnotes related to Mineral Reserve Estimates (dated December 31, 2019) - with the exception of Detour: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

CIM definitions (2019) were followed in the estimation of Mineral Reserves.

Mineral Reserves were estimated using a long-term gold price of US$1,300/oz (C$1,700/oz; A$1,765/oz).

Cut-off grades for Canadian Assets were calculated for each stope and included the costs of: mining, milling, General and Administration, royalties and capital expenditures and other modifying factors (e.g. dilution, mining extraction, mill recovery).

Cut-off grades for Australian Assets were calculated for each mining block and included the costs of: mining, milling, General and Administration, royalties and capital expenditures and other modifying factors (e.g. dilution, mining extraction, mill recovery).

Dilution estimates vary by mining methods and ranges from 5% to 50%.

Extraction estimates vary by mining methods and range from 50% to 100%.

Mineral Reserves estimates for Canadian Operations were prepared under the supervision of N.Vaz, P. En Mineral Reserves estimates for Australian Operations were prepared under the supervision of I.Holland, FAusIM Mineral Reserves are stated at a mill feed reference point.

Totals may not add up due to rounding.

Detailed footnotes related to Detour’s Mineral Reserve and Resource Estimates (dated December 31, 2019): (1)

(2) (3) (4) (5) (6) (7) (8) (9)

The Company’s mineral reserve and mineral resource statement is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) “CIM Definition Standards - For Mineral Resources and Mineral Reserves" adopted by the CIM Council (as amended, the “CIM Definition Standards”) in accordance with the requirements of National Instrument 43-101 “Standards of Disclosure for Mineral Projects" (“NI 43-101”). Mineral reserve and mineral resource estimates reflect the Company's reasonable expectation that all necessary permits and approvals will be obtained and maintained.

Mineral reserves were estimated using a gold price of US$1,000/oz and mineral resources were estimated using a gold price of US$1,200/oz at a $US/$CDN exchange rate of 1.10.

Mineral reserves and resources were based on a cut-off grade of 0.50 g/t Au. LG fines (sourced from material grading 0.40 – 0.50 g/t Au) classified as Measured or Indicated were reported as Probable mineral reserves and included in the mine plan. Reported tonnage is defined as material scheduled to be fed from 2021 to the end of the mine as per 2018 life of mine plan.

Further information, including key assumptions, parameters, and methods used to estimate mineral resources and mineral reserves are described in the Technical Report on the Detour Lake operation, dated Nov 26th, 2018.

Mineral underground resources for 58N are reported at a cut-off grade of 2.2 g/t Au, using a gold price of US$1,300 per ounce and a $US/$CDN exchange rate of 1.25 with an assumed mining dilution of 12%.

Mineral resources are reported exclusive of mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resources are constrained within an economic pit shell.

Mineral Reserves and Mineral Resource estimates for the Detour Operation was prepared under the supervision of A. Leite, PEng , AUSIMM CP (MIN), MEng, P. Eng. Totals may not add due to rounding.

46

NOTES TO KIRKLAND LAKE GOLD MINERAL RESERVES & MINERAL RESOURCES Detailed footnotes related to Mineral Resource Estimates for Canadian Assets (dated December 31, 2019) – with the exception of Detour

(1) (2) (3) (4) (5) (6)

CIM definitions (2019) were followed in the calculation of Mineral Resource.

Mineral Resources are reported Exclusive of Mineral Reserves. Mineral Resources were calculated according to KL Gold’s Mineral Resource Estimation guidelines.

Mineral Resource estimates were prepared under the supervision of Eric Kallio, P. Geo. Senior Vice President, Exploration.

Mineral Resources are estimated using a long-term gold price of US $1,300/oz (C$1,700/oz).

Mineral Resources were estimated using a range of 3.4g/t to 8.6 g/t cut-off grades for Macassa Mine, a 2.8 g/t cut-off grade for Holt Mine and Holloway Mine, a 2.5 g/t cut-off grade for Holt Near Surface, a 2.6 g/t cut-off grade for Taylor, a 2.5 g/t cut-off grade for Canamax, a 2.2 g/t cut-off grade for Hislop and a 0 g/t cut-off grade for Aquarius.

Totals may not add up due to rounding.

Detailed footnotes related to Mineral Resource Estimates for Australian Assets (dated December 31, 2019) (1) (2) (3) (4) (5) (6) (7) (8)

CIM definitions (2019) were followed in the estimation of Mineral Resource.

Mineral Resources are estimated using a long-term gold price of US$1,300/oz (A$1,765/oz) Mineral Resources for the Australian assets are reported exclusive of Mineral Reserves.

Mineral Resources at Fosterville were estimated using cut-off grades 0.7 g/t Au for oxide and 1.0 g/t Au for sulfide mineralization to potentially open-pitable depths of approximately 100m, below which a cut-off grade of 3.0 g/t Au was used.

Mineral Resources in the Northern Territory were estimated using a cut-off grade of 0.5 – 0.7 g/t Au for potentially open pit mineralization and cut-offs of 1.5 to 2.0 g/t Au for underground mineralization.

Mineral Resource estimates for the Fosterville property were prepared under the supervision of Troy Fuller, MAIG. Mineral Resource estimates for the Northern Territory properties were prepared under the supervision of Owen Greenberger, MAIG. Totals may not add up due to rounding.

Qualified Persons Natasha Vaz, P.Eng., Senior Vice President, Technical Services and Innovation is a "qualified person" as defined in NI 43-101 and has reviewed and approved the scientific and technical information, including information and data related to Mineral Reserves, that is included in this presentation.

Eric Kallio, P. Geo., Senior Vice President, Exploration is a “qualified person” as defined in NI 43-101 and has reviewed and approved the scientific and technical information relating to Mineral Resources and other exploration disclosures included in this presentation.

Andre Leite, P.Eng , AUSIMM CP (MIN), MEng, Mine Technical Services Manager is a "qualified person" as defined in NI 43-101 and has reviewed and approved disclosure of the Mineral Reserves and Mineral Resources technical information and data for Detour Lake included in this presentation.

47