A Leading Senior Gold Producer - LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS WITH EXPLORATION UPSIDE

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A Leading Senior Gold Producer - LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS WITH EXPLORATION UPSIDE
A Leading Senior Gold Producer
LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS …
WITH EXPLORATION UPSIDE

                                     TD Mining Conference
                                     January 27-28, 2021
A Leading Senior Gold Producer - LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS WITH EXPLORATION UPSIDE
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
A Leading Senior Gold Producer - LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS WITH EXPLORATION UPSIDE
Fosterville            Macassa

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

                                                                     3
A Leading Senior Gold Producer - LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS WITH EXPLORATION UPSIDE
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
A Leading Senior Gold Producer - LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS WITH EXPLORATION UPSIDE
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
A Leading Senior Gold Producer - LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS WITH EXPLORATION UPSIDE
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
A Leading Senior Gold Producer - LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS WITH EXPLORATION UPSIDE
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                                                                                                                                                                 Consolidated Guidance
Reserves: 2.1 Mozs @ 21.8 g/t                                                                                                                                               2021: 1,300 – 1,400 kozs
Robbin’s Hill: 218 kozs @ 5.5 g/t                                                                                           Macassa1                                        2022: 1,300 – 1,445 kozs
Production: 640.5 kozs FY 2020                                                                                              Reserves: 2.4 Mozs @ 22.1 g/t                   2023: 1,405 – 1,545 kozs
Guidance: 400 – 425 kozs in 2021, 325 – 400 kozs                                                                            Production: 183.0 kozs FY 20203
2022 and 20234                                                                                                              Guidance: 220 – 255 kozs 2021, 295 – 325
                                                                                                                            kozs 2022, 400 – 425 kozs 20234
Exploration: Large mineralized systems at Lower                                                                             Key project: New #4 Shaft to be
Phoenix, Cygnet, Robbin’s Hill and Harrier;                                                                                 completed in late 2022
Significant potential for additional high-grade zones
                                                                                                                            Exploration: SMC continues to grow, high-
                                                                                                                            grade mineralization intersected along
                                                                                                                            both Amalgamated and Main Breaks
1)   See information on Mineral Reserve and Mineral Resource estimates at end of full presentation.
2)   For period from January 31, 2020 to December 31, 2020.
3)   Transitioned to reduced operations due to COVID-19 near end of March 2020, workers recalled beginning in May 2020.                                                                                      7
4)   See press release dated December 10, 2020 for more information on the Company’s 2021 and 3-year production guidance.
A Leading Senior Gold Producer - LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS WITH EXPLORATION UPSIDE
STRONG PRODUCTION GROWTH, LOW UNIT COSTS

                                     STRONG PRODUCTION GROWTH                                                                                 LOW AISC/OUNCE SOLD1
                                               (KOZS)                                                                                                (US$/oz)
                                                                                                                             1,369.7
                                                                                                                                       $930

                                                                                                                                              $812                             $804
                                                                                                   974.6
                                                                                                                                                        $685

                                                                       723.7                                                                                         $564
                                            596.4

                313.7

                2016                        2017                        2018                        2019                      2020     2016   2017      2018         2019   2 0 2 0 (9 M)

1)   Refers to All-In Sustaining Costs per ounce sold (See Non-IFRS Measures section in forward-looking statements slide).                                                                  8
A Leading Senior Gold Producer - LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS WITH EXPLORATION UPSIDE
KL: LEADER IN LOW-COST PRODUCTION
                                                                                             CONSENSUS ESTIMATES: 2021 AISC/OUNCE SOLD1
                                                                                                             (US$/oz)
                                                                                                                                                                 $988         $991
                                                                                                                                                  $953
                                                                                                                                  $926
                                           KL Guidance                                      $911
                                           $790 – $810

                                                     $792

                                            K i r k l an d Lake                       N ewc rest                             A gn i c o Eagl e   Bar r i c k   N ew mo nt   K i n ro s s
                                                     Gold
                                       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
A Leading Senior Gold Producer - LOW COSTS, FINANCIAL PERFORMANCE & STRENGTH, SHAREHOLDER RETURNS WITH EXPLORATION UPSIDE
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
                          2019
                                                                                                                                                        $2.67/share
                                                                                                       $273.9
                          2018
                                                                                                     $1.30/share
                                                                             $132.4
                          2017
                                                                           $0.64/share
                                                         $42.1
                          2016
                                                      $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

                          2019                                                                                                                                $463.0

                          2018                                                                              $255.2

                          2017                                                             $178.0

                          2016                                             $113.9

                                    $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

                      YTD 2020
                                                                                                                                                              $555.1
                                                                                                                                                            $2.06/share

                      YTD 2019
                                                                                                                             $390.9                YTD 2020 adjusted net earnings
                                                                                                                           $1.86/share               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

                      YTD 2020                                                                                                                                  $500.6

                      YTD 2019                                                                                                                YTD 2020 FCF totalled $693.7M
                                                                                                      $330.2                                  excluding $60.5 million of transaction
                                                                                                                                              costs and $132.6M non-recurring
                                                                                                                                              income tax payment in Australia
                                                                                                                                              related to 2019 income.

1)   See Non-IFRS Measures section in forward-looking statements slide                                                                                                                 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                                                                          $0.1875
   o 50% increase effective Q4 2020 payment, to US$0.1875/share

                                                                                                                   US$0.125 US$0.125 US$0.125
                                                        50% Increase effective Q4 2020

                                                                                                         US$0.06
                                                                                     US$0.04 US$0.04
                                                                 C$0.04    C$0.04
                                   C$0.02     C$0.03   C$0.03
      C$0.01 C$0.01       C$0.02
     Q2 2017   Q3 2017   Q4 2017   Q1 2018   Q2 2018   Q3 2018   Q4 2018   Q1 2019   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                                                                                       Ontario     Detour Lake
       o Inferred Mineral Resources of 0.6M ozs @ 16.7 g/t, Near Surface: 0.1M ozs @ 11.5 g/t
 One of the lowest GHG emitters in the world                                                                                                                               Holt Complex
                                                                                                                                                                 Macassa
       •     World leader in the use of battery-powered equipment
 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 $915/oz
       •     Reduced operations due to COVID-19, returned to normal workforce level by end of Q2 2020
                         Gold Production (koz)                                  400 – 425                           Op. Cash Costs ($/oz)3
                                                                                                                                 $573

                                                             295 – 325                                                                       $450 – $470
                                                                                                             $426    $414
       241                                220 – 255
                          183

     2019                2020            2 0 2 1 (F )        2 0 2 2 (F )       2 0 2 3 (F )                 2018   2019     2 0 2 0 (9 M)    2 0 2 1 (F )
   Refer to Slide 2 “Cautionary Language” regarding forward-looking information
                                                                                                                                               (F): Forecast
    (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
                                                                                                                                                                                           14
MACASSA – #4 SHAFT
 4,000 tpd hoisting capacity
                                                     FOSTERVILLE Q2 2019 MINE PLAN
 To be completed in one phase to 6400’ by late
  2022
 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                                                  Ontario
              o Inferred Mineral Resources of 1.1M ozs @ 0.82 g/t, Underground: 0.1M ozs @ 4.35g/t                                                             Detour Lake
 Annual production increasing to 680 – 720 kozs in 2021, with current Mineral Reserve life of well                                                             Holt Complex
  over 20 years
 Targeting significant growth in Mineral Reserves through extensive drilling                                                                        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

          602                                                                                                                AISC3,4/oz Sold
                            517                                                                                          9M 2020: $1,156
                                                                                                                         2021 Guidance:
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
 YTD 2020, op. cash costs2 of $132/oz and AISC2,3 of $311/oz                                                                                                                                  Fosterville

 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)                                                                       Op. Cash Costs ($/oz)2
         619               640
                                                                                                                                                 $230 – $250

                                                                                                              $200
                                          400 – 425          325 – 400            325 – 400
                                                                                                                                    $132
                                                                                                                         $119

    2019                 2020             2 0 2 1 (F )       2 0 2 2 (F )         2 0 2 3 (F )                2018      2019     2 0 2 0 (9 M)    2 0 2 1 (F )
   Refer to Slide 2 “Cautionary Language” regarding forward-looking information
                                                                                                                                                  (F): Forecast
   (1)   As at December 31, 2019. Refer to Reserve and Resource Statements in Appendix of this presentation
   (2)
   (3)
         Example of Non-IFRS measures, see Slide 2 for more information about Non-IFRS measures
         Refers to all-in sustaining costs
                                                                                                                                                                                                             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);                 Infill drilling in
933 g/t Au over 6.4 m (ETW 5.8 m);                   Swan Zone
416 g/t Au over 6.8 m (ETW 5.6 m); and             returns higher
222 g/t Au over 8.1 m (ETW 7.3 m)                  than expected
                                                        grades

Extension drilling at Cygnet                950 M
Key intercepts:                          extension of
                                                                        Significant potential
13.6 g/t Au over 6.6 m (ETW 5.9 m);        Phoenix
12.7g/t Au over 2.1 m (ETW 2.1 m); and    structure                     at Cygnet
5.4 g/t Au over 9.7 m (ETW 8.0 m)

                                                                                                28
FOSTERVILLE – RECENT DRILLING

                                29
FOSTERVILLE – ROBBIN’S HILL

 Demonstrated
  substantial scale of
  mineralized system
 Intersected high-
  grades with VG 950 m         Cygnet zone
  down-plunge of               650 m strike
  Mineral Resources           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.                               Compliance & Reporting
   Developed Human Rights Policy outlining compliance with international         Sustainability Report
    statutes and commitments to preventing or benefitting from human rights       ESTMA
    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   Membership
    labor screening, segmentation and due-diligence.
                                                                                  Ontario Mining Association
   Developed Communities & Stakeholder Standard to structure community and
    indigenous engagement approaches.                                             Minerals Council of Australia
   Developed Community Feedback Standard for processing of grievances, now       World Gold Council
    implemented at Macassa.
   Developing an auditable greenhouse gas accounting tool to track greenhouse
    gases on a monthly basis
                                                                                                                   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.    Includes operating costs, capital expenditures and exploration spending.
2.    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 re-
        assigned 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
                                                                                                                                                          2021
                                                                                           Macassa                 Detour Lake        Fosterville
                                                                                                                                                        Guidance
                  Production – 2021 guidance (kozs)                                        220 – 255                   680 – 720       400 – 425      1,300 – 1,400
                  Op. cash costs ($/oz)1                                                 $450 – $470               $580 – $600        $230 – $250      $450 – $475

                                                                                                                       Three-Year Production Guidance
                       $ million unless                                           2021
                       otherwise states                                         Guidance
                                                                                                                        Kozs                            2021              2022            2023
                       AISC     ($/oz)1                                       $790 – $810
                                                                                                                        Macassa                      220 – 255         295 – 325       400 – 425
                       Operating cash costs1                                  $600 – $630
                                                                                                                        Detour Lake                  680 – 720         680 – 720       680 – 720
                       Royalty expense                                          $82 – $88
                       Sustaining capital1                                    $280 – $310                               Fosterville                  400 – 425         325 – 400       325 – 400

                       Growth capital1                                        $250 – $275                               Consolidated                1,300 – 1,400     1,300 – 1,445   1,405 – 1,545
                       Exploration                                            $170 – $190
                       Corporate G&A2                                           $50 – $55

1.   See Non-IFRS Measures section in forward-looking statements slide
2.   Includes general and administrative costs and severance payments. Excludes non-cash share-based payment expense                                                                                  36
Q4 & FY 2020 – PRODUCTION RESULTS
              Production Results                                                          Q4 2020              Q4 2019              Q3 2020      FY 2020    FY 2019
              Fosterville
               Ore Milled (tonnes)                                                        183,635               121,998             167,533      593,343    492,874
               Grade (g/t Au)                                                                28.1                  49.3                30.3         33.9       39.6
               Recovery (%)                                                                  98.9                  99.2                99.0         98.9       98.8
               Gold Production (ozs)                                                      164,008               191,893             161,489      640,467    619,366
              Macassa
               Ore Milled (tonnes)                                                          74,353                87,573              78,526     312,758    324,077
               Grade (g/t Au)                                                                 22.4                  20.5                15.4        18.6       23.6
               Recovery (%)                                                                   97.7                  97.8                97.8        97.7       97.9
               Gold Production (ozs)                                                        52,283                56,379              38,028     183,038    241,297
              Detour Lake1
               Ore Milled (tonnes)                                                     5,829,230                           -     5,898,694     21,091,938         -
               Grade (g/t Au)                                                               0.89                           -          0.81           0.83         -
               Recovery (%)                                                                 91.8                           -          90.7           91.3         -
               Gold Production (ozs)                                                     153,143                           -       140,067        516,757         -
              Holt Complex2
               Ore Milled (tonnes)                                                              -               252,801                   -       215,318   853,528
               Grade (g/t Au)                                                                   -                    4.1                  -           4.5       4.4
               Recovery (%)                                                                     -                  94.1                   -          93.6      94.7
               Gold Production (ozs)                                                            -                31,469                   -        29,391   113,952
              Total Consolidated Production (ozs)3                                        369,434               279,742             339,584     1,369,652   974,615
              Total Consolidated Gold Sales (ozs)                                         371,009               278,438             331,959     1,388,944   979,733
 1)   The Detour Lake Mine was acquired on January 31, 2020. FY 2020 production represents output from that date to December 31, 2020.
 2)   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
 3)   Production numbers may not add to totals due to rounding.
                                                                                                                                                                      37
Q3 & FIRST NINE MONTHS 2020 PERFORMANCE
                                    (in thousands of dollars, except per              Three Months Ended           Three Months Ended           Three Months Ended    Nine Months Ended    Nine Months Ended
                                    share amounts)                                     September 30, 2020           September 30, 2019                June 30, 2020   September 30, 2020   September 30, 2019
                                    Revenue                                                   $632,843                     $381,430                      $580,975           $1,768,556            $967,609
                                    Production costs                                           136,023                        73,664                      141,415              439,030              209,865
                                    Earnings before income taxes                               295,316                       254,119                      225,282              815,123              566,140
                                    Net earnings                                              $202,022                     $176,604                      $150,232             $555,132            $390,945
                                    Basic earnings per share                                      $0.73                        $0.84                        $0.54                $2.06                $1.86
                                    Diluted earnings per share                                    $0.73                        $0.83                        $0.54                $2.05                $1.85
                                    Cash flow from operating activities                       $431,119                     $316,753                      $222,234             $894,859            $672,290
                                    Cash investment on mine development
                                    and PPE                                                        $155,428                    $135,449                  $128,155             $394,220             $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
                                    Tonnes milled                                               6,144,753            419,787          5,863,282         16,126,140          1,208,106
                                    Average Grade (g/t Au)                                             1.8               18.8                1.8                2.0                18.3
                                    Recovery (%)                                                     95.3 %            97.9 %             95.8 %             95.6 %             98.0 %
                                    Gold produced (oz)                                            339,584            248,400            329,770          1,000,218            694,873
                                    Gold Sold (oz)                                                331,959            256,276            341,390          1,017,935            701,296
                                    Average realized price ($/oz sold)(1)                           $1,907            $1,482             $1,716             $1,734             $1,375
                                    Operating cash costs per ounce ($/oz
                                    sold)(1)                                                              $406                        $287                     $374                $407                 $296
                                    AISC ($/oz sold)(1)                                                   $886                        $562                     $751                $804                 $584
                                    Adjusted net earnings(1)                                          $249,251                    $167,532                 $219,345            $647,765             $391,109
                                    Adjusted net earnings per share(1)                                   $0.91                       $0.80                    $0.79               $2.40                $1.86
                                    Free cash flow(1)                                                 $275,691                    $181,304                  $94,079            $500,639             $330,186

1.   See Non-IFRS Measures section in forward-looking statements slide general and administrative costs and severance payments. Excludes non-cash
                                                                                                                                                                                                                38
YTD 2020 – PERFORMANCE AGAINST GUIDANCE
                                                                                                                                                                    2020         YTD 2020
                                                                                           Macassa                 Detour Lake      Holt Complex   Fosterville
                                                                                                                                                                  Guidance        Actuals
                  Production – 2020 guidance (kozs)                                        210 – 220                   520 – 540        29          590 – 610    1,350 – 1,400
                  Production – FY 2020 (ozs) (Full-Year)                                    183,038                    516,757         29,391       640,467                      1,369,652
                  Op. cash costs ($/oz)1                                                 $490 – $510               $610 – $630         $955        $130 – $150   $410 – $430
                  Op. cash costs – YTD (9M) 2020 ($/oz) 1                                      $573                      $630          $1,000         $132                         $407

                 $ million unless                                            2020                    YTD (9M) 2020
                 otherwise states                                          Guidance                     Actuals                    YTD (9 Months) 2020 Performance
                 AISC ($/oz)1                                           $790 – $810                           $804                  On track to achieve all 2020 consolidated guidance
                 Operating cash costs1                                  $560 – $580                         $414.1                  Unit costs in line with guidance after 9 months
                 Royalty expense                                          $80 – $85                          $62.0                  Capital expenditures to increase based on new
                 Sustaining capital1                                    $390 – $400                         $286.5                   projects/initiatives at Detour Lake
                 Growth capital1                                         $95 – $105                          $59.4                  Exploration to ramp up in Q4 2020
                 Exploration                                            $130 – $150                          $87.0
                 Corporate G&A2                                           $50 – $55                          $38.7

1.   See Non-IFRS Measures section in forward-looking statements slide
2.   Includes general and administrative costs and severance payments. Excludes non-cash share-based payment expense                                                                         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)                                               180-190   Ontario      Detour Lake
                                                                                       150-160
                   121                   117                   127             114                                         Holt Complex
                                                                                                              Macassa      • Holt
                                                                                                                           • Taylor
                                                                                                                           • Holloway

                  2016                  2017                  2018             2019E   2020E     2021E

Refer to Slide 2 “Cautionary Language” regarding forward-looking information
                                                                                                                                          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                                                Owned by Kirkland Lake Gold     Northern Territory
                                                          Years of                      Grade   Production Production
                          Goldfield                                            Tonnes
                                                         Operation                      (g/t)   (koz Gold) (tonnes)
                   Union Reefs                           1994-2017         30,360,000   1.69      1,532       47.7
                    Pine Creek                           1986-1996         12,280,000   2.37       774        24.1
                 Cosmo/Howley
                     Goodall
                                                         1987-1995
                                                         1988-1993
                                                                           10,910,000
                                                                            4,100,000
                                                                                        2.17
                                                                                        1.99
                                                                                                   670
                                                                                                   228
                                                                                                              20.9
                                                                                                              7.1
                                                                                                                                         Australia
                      Moline                             1988-1992          1,600,000   2.14       100        3.1
                  Brocks Creek                           1996-2000          5,570,000   1.64       270        8.4
             Mt. Bundy/Toms Gully                        1988-2011          1,640,000   5.14       240        7.5                                    Fosterville
                     Mt. Todd                            1993-2000         12,010,000   0.90       347        10.8
                    Mt. Bonnie                           1983-1986           670,000    3.50        75        2.3
           Rustlers Roost (Heap Leach)                   1994-1998          4,580,000   0.75       110        3.4
                       Total                                               83,720,000   1.79      4,346      135.3
Refer to Slide 2 “Cautionary Language” regarding forward-looking information
                                                                                                                                                                   41
KIRKLAND LAKE GOLD MINERAL RESERVE ESTIMATE

                                                                                                                 December 31, 2019                                                                       December 31, 2018
                                                                                                       Tonnes               Grade            Gold Ozs              Depleted Oz                  Tonnes        Grade    Gold Ozs
                                               Proven and Probable
                                                                                                       (000's)              (g/t)             (000’s)              2019 (000’s)                 (000's)        (g/t)    (000’s)
                                               Macassa                                                  3,320                22.1               2,360                     246                    3,190         21.9     2,250
                                               Macassa Near Surface                                       273                10.7                 93                         -                       -           -           -
                                               Holt Complex(1)                                          5,432                 4.0                702                      120                    4,588          4.4      644
                                               Hislop(1)                                                  176                 5.8                 33                        -                      176          5.8          33
                                               Total CDN Underground                                    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                         -                       -           -           -
                                               Northern Territory(1)                                      988                 4.0                128                       10                      666          5.0      107
                                               Total AUS Operations                                     5,220                14.6               2,450                     637                    3,390         25.9     2,820
                                               Total                                                  491,900                1.29              20,470                    1,004                  11,340         15.7     5,740
                                       (1)       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    Grade    Gold Ozs     Tonnes     Grade    Gold Ozs
                                                                                                                (000's)   (g/t)     (000’s)     (000's)    (g/t)     (000’s)
                                                     Canada Ops – Underground
                                                           Macassa                                               1,616     13.8         717     1,621       17.0         886
                                                          Macassa Near Surface                                    47       7.8       12          167        17.9        96
                                                          Holt Complex                                           7,752     4.2      1,047       9,664        4.1      1,279

                                                           Hislop                                                1,147     3.6          132     1,147       3.6          132
                                                        Detour Zone 58N                                         2,900      5.8       534           -         -           -
                                                        Ludgate                                                    -        -          -         522        4.1        68
                                                        Canamax                                                  240       5.1        39         240        5.1         39
                                                     Total Canada Underground                                   13,702     5.7      2,482       13,360      5.8       2,500
                                                     Canada Ops – Open Pit
                                                        Detour Lake                                             81,400     1.15     3,003
                                                        West Detour                                             31,000     0.88      878
                                                           Aquarius                                             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
                                                                                                                    December 31, 2019                December 31, 2018
                                                     Fosterville                                                12,300      5.3       2,080     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

Note: See disclosures on Kirkland Lake Gold Mineral Reserves and Mineral Resources later in this presentation                                                                  43
KIRKLAND LAKE GOLD MINERAL RESOURCE ESTIMATE
                                                                      Inferred                                        December 31, 2019                December 31, 2018

                                                                                                                Tonnes       Grade    Gold Ozs    Tonnes     Grade    Gold Ozs
                                                                                                                (000's)      (g/t)     (000’s)    (000's)    (g/t)     (000’s)
                                                    Canada Ops – Underground
                                                       Macassa                                                  1,039         16.7         557      580       16.8      313
                                                       Macassa Near Surface                                      146          11.5          54       30       15.5       15
                                                       Holt Complex                                             9,097         4.4         1,294   15,820      4.6      2,329
                                                       Hislop                                                    797          3.7           95      797       3.7        95
                                                       Detour Zone 58N                                          1,000         4.4          136        -        -          -
                                                       Ludgate                                                     -           -             -     1,396      3.6       162
                                                       Canamax                                                   170          4.3           23      170       4.3        23
                                                    Total Canada Underground                                    12,248        5.5         2,160   18,792      4.9      2,937
                                                    Canada Ops – Open Pit
                                                       Detour Lake                                              33,600      0.79           855
                                                       West Detour                                              9,300       0.95           282
                                                    Total Canada Open Pit                                       42,900      0.82          1,137
                                                    Total CDN Operations                                        55,148       1.9          3,297   18,792     4.9        2,937
                                                                                                                     December 31, 2019                 December 31, 2018
                                                    Fosterville                                                 8,450        6.4          1,740    6,930     6.0        1,330
                                                    Robbin’s Hill                                               2,670        4.5           383     3,390     4.6         504
                                                    Northern Territory                                          15,200       2.6          1,270   18,100     2.6        1,490
                                                    Total AUS Operations                                        26,400       4.0          3,390   28,400     3.6        3,320

Note: See disclosures on Kirkland Lake Gold Mineral Reserves and Mineral Resources later in this presentation                                                                    44
SWAN MINERAL RESERVE & RESOURCE ESTIMATE

                                                                                   December 31, 2019                                December 31, 2018                                 % Change
                                                                           Tonnes       Grade      Gold Ounces             Tonnes      Grade      Gold Ounces                    Gold        Gold
                                                Swan(1)
                                                                           (000's)      (g/t)        (000’s)                (000's)     (g/t)       (000’s)                      Grade      Ounces
                                            Mineral
                                          Reserves
                                                  Proven                      493                   40.5        641           62            27.6                55                 47       1,065
                                                Probable                      764                   37.4        919         1,410           50.6              2,290               -26        -60
                                                Proven +
                                                                            1,260                   38.6        1,560       1,470           49.6              2,340               -22        -33
                                                Probable
                                            Mineral
                                                                                 Exclusive of Mineral Reserves                  Exclusive of Mineral Reserves
                                          Resources
                                               Measured                        30                   46.4         45           2             59.6               4                  -22       1,051
                                               Indicated                       59                   18.2         34           32            15.7               16                 16         110
                                             Measured +
                                                                               89                   27.7         79           34            18.3               20                 51         293
                                               Indicated
                                                 Inferred                      93                   19.3         57          249            13.4               107                44         -47
                                                 1.     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)    CIM definitions (2019) were followed in the estimation of Mineral Reserves.
 (2)    Mineral Reserves were estimated using a long-term gold price of US$1,300/oz (C$1,700/oz; A$1,765/oz).
 (3)    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).
 (4)    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).
 (5)    Dilution estimates vary by mining methods and ranges from 5% to 50%.
 (6)    Extraction estimates vary by mining methods and range from 50% to 100%.
 (7)    Mineral Reserves estimates for Canadian Operations were prepared under the supervision of N.Vaz, P. En
 (8)    Mineral Reserves estimates for Australian Operations were prepared under the supervision of I.Holland, FAusIM
 (9)    Mineral Reserves are stated at a mill feed reference point.
 (10)   Totals may not add up due to rounding.

 Detailed footnotes related to Detour’s Mineral Reserve and Resource Estimates (dated December 31, 2019):
 (1)    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.
 (2)    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.
 (3)    Mineral reserves and resources were based on a cut-off grade of 0.50 g/t Au.
 (4)    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.
 (5)    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.
 (6)    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%.
 (7)    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.
 (8)    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.
 (9)    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)   CIM definitions (2019) were followed in the calculation of Mineral Resource.
 (2)   Mineral Resources are reported Exclusive of Mineral Reserves. Mineral Resources were calculated according to KL Gold’s Mineral Resource Estimation guidelines.
 (3)   Mineral Resource estimates were prepared under the supervision of Eric Kallio, P. Geo. Senior Vice President, Exploration.
 (4)   Mineral Resources are estimated using a long-term gold price of US $1,300/oz (C$1,700/oz).
 (5)   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.
 (6)   Totals may not add up due to rounding.

 Detailed footnotes related to Mineral Resource Estimates for Australian Assets (dated December 31, 2019)
 (1)   CIM definitions (2019) were followed in the estimation of Mineral Resource.
 (2)   Mineral Resources are estimated using a long-term gold price of US$1,300/oz (A$1,765/oz)
 (3)   Mineral Resources for the Australian assets are reported exclusive of Mineral Reserves.
 (4)   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.
 (5)   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.
 (6)   Mineral Resource estimates for the Fosterville property were prepared under the supervision of Troy Fuller, MAIG.
 (7)   Mineral Resource estimates for the Northern Territory properties were prepared under the supervision of Owen Greenberger, MAIG.
 (8)   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
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