Description of Kinross Gold's Business Segments

The registrant's reportable operating segments consist of individual mining properties, each managed by a single general manager and management team. Segments are identified based on operations with revenues, earnings or losses, or assets exceeding 10% of the total consolidated amounts. The reportable segments include Round Mountain, Bald Mountain, Tasiast, Paracatu, La Coipa, Fort Knox, Mountain Mountain, Great Bear, and other segments. Finance income, finance expense, and other net expenses are managed on a consolidated basis and are not allocated to operating segments. The report presents detailed financial results for these segments for the years ended December 31, 2025 and 2024, covering metal sales, cost of sales (production cost and depreciation, depletion, and amortization), impairment reversal, gross profit, other operating expenses, exploration and business development, general and administrative expenses, operating earnings, and capital expenditures.

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Annual Report on Kinross Gold Corp Divisions, Sales by Country


Tasiast	17.73 %	of total Revenue
Paracatu	21.9 %	of total Revenue
La Coipa	8.78 %	of total Revenue
Fort Knox	14.99 %	of total Revenue
Round Mountain	5.21 %	of total Revenue
Bald Mountain	6.43 %	of total Revenue
United States	26.63 %	of total Revenue
Mauritania	21.9 %	of total Revenue
Brazil	17.73 %	of total Revenue
Chile	8.78 %	of total Revenue
Customers exceeding 10 of annual metal sales	37.86 %	of total Revenue
Customer 1	7.07 %	of total Revenue
Customer 2	6.54 %	of total Revenue
Customer 3	6.26 %	of total Revenue
Customer 4	6.12 %	of total Revenue
Customer 5	6.01 %	of total Revenue
Customer 6	5.86 %	of total Revenue
Tasiast segments	17.73 %	of total Revenue
Tasiast Customer 2	4.29 %	of total Revenue
Tasiast Customer 3	3.73 %	of total Revenue
Tasiast Customer 4	3.07 %	of total Revenue
Tasiast Customer 6	3.33 %	of total Revenue
Paracatu segments	21.9 %	of total Revenue
Paracatu Customer 1	2.6 %	of total Revenue
Paracatu Customer 2	0.61 %	of total Revenue
Paracatu Customer 3	0.6 %	of total Revenue
Paracatu Customer 4	0.84 %	of total Revenue
Paracatu Customer 5	2.48 %	of total Revenue
Paracatu Customer 6	1.21 %	of total Revenue
La Coipa segments	8.78 %	of total Revenue
La Coipa Customer 1	1.35 %	of total Revenue
La Coipa Customer 2	0.18 %	of total Revenue
La Coipa Customer 3	0.53 %	of total Revenue
La Coipa Customer 4	0.52 %	of total Revenue
La Coipa Customer 5	0.68 %	of total Revenue
La Coipa Customer 6	0.25 %	of total Revenue
Fort Knox segments	14.99 %	of total Revenue
Fort Knox Customer 1	1.53 %	of total Revenue
Fort Knox Customer 2	0.21 %	of total Revenue
Fort Knox Customer 3	0.67 %	of total Revenue
Fort Knox Customer 4	0.76 %	of total Revenue
Fort Knox Customer 5	1.16 %	of total Revenue
Fort Knox Customer 6	0.57 %	of total Revenue
Round Mountain segments	5.21 %	of total Revenue
Round Mountain Customer 1	0.78 %	of total Revenue
Round Mountain Customer 2	0.64 %	of total Revenue
Round Mountain Customer 3	0.33 %	of total Revenue
Round Mountain Customer 4	0.75 %	of total Revenue
Round Mountain Customer 5	0.98 %	of total Revenue
Round Mountain Customer 6	0.25 %	of total Revenue
Bald Mountain segments	6.43 %	of total Revenue
Bald Mountain Customer 1	0.81 %	of total Revenue
Bald Mountain Customer 2	0.6 %	of total Revenue
Bald Mountain Customer 3	0.4 %	of total Revenue
Bald Mountain Customer 4	0.18 %	of total Revenue
Bald Mountain Customer 5	0.7 %	of total Revenue
Bald Mountain Customer 6	0.24 %	of total Revenue
Corporate and other Non-Customer 1	0.01 %	of total Revenue
Corporate and other Non-Customer 2	0 %	of total Revenue
Corporate and other Non-Customer 6	0 %	of total Revenue

Twelve months ended 2025
KGC s Annual Revenue by Geography and Business Segments	Sales (in millions $)	% (of total Sales)
Tasiast	1,665.90	17.73 %
Paracatu	2,058.10	21.9 %
La Coipa	824.90	8.78 %
Fort Knox	1,408.60	14.99 %
Round Mountain	489.60	5.21 %
Bald Mountain	604.00	6.43 %
United States	2,502.20	26.63 %
Mauritania	2,058.10	21.9 %
Brazil	1,665.90	17.73 %
Chile	824.90	8.78 %
Customers exceeding 10 of annual metal sales	3,558.00	37.86 %
Customer 1	664.80	7.07 %
Customer 2	614.80	6.54 %
Customer 3	588.10	6.26 %
Customer 4	575.20	6.12 %
Customer 5	564.60	6.01 %
Customer 6	550.50	5.86 %
Tasiast segments	1,665.90	17.73 %
Tasiast Customer 2	403.60	4.29 %
Tasiast Customer 3	350.50	3.73 %
Tasiast Customer 4	288.50	3.07 %
Tasiast Customer 6	313.20	3.33 %
Paracatu segments	2,058.10	21.9 %
Paracatu Customer 1	244.70	2.6 %
Paracatu Customer 2	57.00	0.61 %
Paracatu Customer 3	56.20	0.6 %
Paracatu Customer 4	78.70	0.84 %
Paracatu Customer 5	233.50	2.48 %
Paracatu Customer 6	113.30	1.21 %
La Coipa segments	824.90	8.78 %
La Coipa Customer 1	126.60	1.35 %
La Coipa Customer 2	17.30	0.18 %
La Coipa Customer 3	50.20	0.53 %
La Coipa Customer 4	48.70	0.52 %
La Coipa Customer 5	64.00	0.68 %
La Coipa Customer 6	23.70	0.25 %
Fort Knox segments	1,408.60	14.99 %
Fort Knox Customer 1	143.40	1.53 %
Fort Knox Customer 2	19.80	0.21 %
Fort Knox Customer 3	62.70	0.67 %
Fort Knox Customer 4	71.80	0.76 %
Fort Knox Customer 5	109.20	1.16 %
Fort Knox Customer 6	53.90	0.57 %
Round Mountain segments	489.60	5.21 %
Round Mountain Customer 1	73.00	0.78 %
Round Mountain Customer 2	60.10	0.64 %
Round Mountain Customer 3	30.70	0.33 %
Round Mountain Customer 4	70.70	0.75 %
Round Mountain Customer 5	92.50	0.98 %
Round Mountain Customer 6	23.80	0.25 %
Bald Mountain segments	604.00	6.43 %
Bald Mountain Customer 1	76.30	0.81 %
Bald Mountain Customer 2	56.70	0.6 %
Bald Mountain Customer 3	37.80	0.4 %
Bald Mountain Customer 4	16.80	0.18 %
Bald Mountain Customer 5	65.40	0.7 %
Bald Mountain Customer 6	22.20	0.24 %
Corporate and other Non-Customer 1	0.80	0.01 %
Corporate and other Non-Customer 2	0.30	0 %
Corporate and other Non-Customer 6	0.40	0 %
Total	9,397.50	100 %

Twelve months ended 2025
KGC s Annual Income by Country and Business Segments	Income (in millions $)	% (Profit Margin)
Total	2,470.00	26.28 %

Twelve months ended 2025
Annual Revenue and Income Growth by Country and Business Segments	% Y/Y Sales Growth	% Y/Y Income Growth
Tasiast	14.38 %	-
Paracatu	63.48 %	-
La Coipa	43.89 %	-
Fort Knox	54.37 %	-
Round Mountain	-3.39 %	-
Bald Mountain	37.84 %	-
United States	34.71 %	-
Mauritania	63.48 %	-
Brazil	14.38 %	-
Chile	43.24 %	-
Customers exceeding 10 of annual metal sales	-30.86 %	-
Customer 1	-31.51 %	-
Customer 2	-28.77 %	-
Customer 3	-30.15 %	-
Customer 4	-30.92 %	-
Customer 5	-31.45 %	-
Customer 6	-32.37 %	-
Tasiast segments	14.38 %	-
Tasiast Customer 2	48.38 %	-
Tasiast Customer 3	-5.09 %	-
Tasiast Customer 4	-30.87 %	-
Tasiast Customer 6	-22.36 %	-
Paracatu segments	63.48 %	-
Paracatu Customer 1	-43.2 %	-
Paracatu Customer 2	-73.45 %	-
Paracatu Customer 3	-61.72 %	-
Paracatu Customer 4	-59.22 %	-
Paracatu Customer 5	-33.7 %	-
Paracatu Customer 6	-20.88 %	-
La Coipa segments	43.89 %	-
La Coipa Customer 1	-27.2 %	-
La Coipa Customer 2	-78.75 %	-
La Coipa Customer 3	-15.35 %	-
La Coipa Customer 4	-38.97 %	-
La Coipa Customer 5	-41.55 %	-
La Coipa Customer 6	-54.07 %	-
Fort Knox segments	54.37 %	-
Fort Knox Customer 1	-45.54 %	-
Fort Knox Customer 2	-88.63 %	-
Fort Knox Customer 3	-56.28 %	-
Fort Knox Customer 4	53.42 %	-
Fort Knox Customer 5	-33.98 %	-
Fort Knox Customer 6	-29.17 %	-
Round Mountain segments	-3.39 %	-
Round Mountain Customer 1	14.42 %	-
Round Mountain Customer 2	-15.23 %	-
Round Mountain Customer 3	-32.68 %	-
Round Mountain Customer 4	79.44 %	-
Round Mountain Customer 5	6.69 %	-
Round Mountain Customer 6	-60.92 %	-
Bald Mountain segments	37.84 %	-
Bald Mountain Customer 1	96.65 %	-
Bald Mountain Customer 2	13.4 %	-
Bald Mountain Customer 3	-51.23 %	-
Bald Mountain Customer 4	-70.16 %	-
Bald Mountain Customer 5	-40.44 %	-
Bald Mountain Customer 6	-71.83 %	-
Corporate and other	-	-
Maricunga	-	-
Corporate and other Customer 1	-	-
Corporate and other Customer 2	-	-
Corporate and other Customer 6	-	-
Total	27.93 %	148.49 %
Non-Corporate and other	-	-
Non-Corporate and other Maricunga	-	-
Corporate and other Non-segments	-	-

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