March 2018

PDAC – Australia Minerals Session

KLGOLD.COMTSX: KL

NYSE: KLASX: KLA

OPERATIONAL EXCELLENCE | ORGANIC GROWTH | SHAREHOLDER RETURNS

KLGOLD.COMTSX:KLNYSE:KLASX:KLA

2

Cautionary Note Regarding Forward-Looking Information

This presentation contains statements which constitute “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) the amount of future production over any period; (ii) assumptions relating to revenues, operating cash flow and other revenue metrics set out in the Company's disclosure materials; and (iii) future exploration plans (iv) the temporary suspension of operations at the Cosmo Mine and the anticipated effects thereof .

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect KL 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 ability of Kirkland Lake Gold to successfully integrate the operations and employees of its Canadian and Australian operations, and realize synergies and cost savings, and to the extent, anticipated; the potential impact on exploration activities; the potential impact on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; the re-rating potential following the consummation of the merger; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation. 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 Kirkland Lake Gold’s annual information form, financial statements and related MD&A for the year ended December 31, 2017 and their interim financial reports and related MD&A for the quarters ended March 31, June 30 and September 30, 2017 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 unless otherwise noted.

Use of Non-GAAP Measures

This Presentation refers to average realized price, operating costs, all-in sustaining costs per ounce of gold sold, free cash flow and cash costs of production because certain readers may use thisinformation to assess the Company’s performance and also to determine the Company’s ability to generate cash flow. This data is furnished to provide additional information and are non-GAAP measuresand 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 ofperformance 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 thesemeasures.

FORWARD LOOKING STATEMENTS

KLGOLD.COMTSX:KLNYSE:KLASX:KLA

2 Key Drivers of Performance – 77% of 2017 Production

Fosterville Macassa Consolidated(1)

P&P Mineral Reserves (kozs) 1,700 2,030 4,640

P&P Reserve Grade (g/t Au) 23.1 21.0 11.1

2017 Production (ounces) 263,845 194,237 596,405

2017 Op. Cash Costs ($/Oz Sold)2,3 264 523 481

1) Consolidated mineral reserves include reserves at Fosterville, Macassa, Taylor, Holt, as well as mines currently not in operation, including Holloway and Hislop in Canada and the Northern Territory in Australia2) See Non-IFRS Measures sections in forward looking statements 3) Operating Cash Costs per ounce reflect an average USD to CAD exchange rate of 1.30 and a USD to AUD exchange rate of 1.30. See Kirkland Lake Gold News release dated February 21, 2018

IN LEADING MINING JURISDICTIONS

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KL: HIGH GRADE, LOW COST GOLD MINES

KLGOLD.COMTSX:KLNYSE:KLASX:KLA

4

Operational Excellence

• Strong performance against guidance

• Generating strong earnings, free cash flow

Discipline Organic Growth

• Growing reserves and resources• Targeting a million ounces/year from existing

mines

Focused on Shareholders Returns• Strong share price performance• Repurchasing shares• Paying dividends

3 PILLARS OF VALUE CREATION

KLGOLD.COMTSX:KLNYSE:KLASX:KLA

▪ Beat 2017 production guidance• Improved guidance three times

• Record quarter in Q4 2017: 166,579 ozs

▪ Achieved improved unit cost guidance• Cash costs $481/oz (initial guidance: $625 – $67)

• AISC1

of $812/oz (initial guidance: $950 – $1,000)

▪ Sound financial management • $157M of earnings from continuing ops in 2017

• $178M in free cash flow in 2017

• $232M in cash2

at Dec. 31/17

• No debt – debentures repaid or converted to equity

▪ Focused on profitable mining• Two high-cost mines on care and maintenance

• Stawell mine sold December

5

$ millions unless otherwise stated Nine-Month 2017 Results (ex. production) Performance Guidance

Production (kozs)1 596.4 580 – 595

Operating cash costs ($/oz)2,3 $481 $475 – $500

AISC ($/oz)2,3 $812 $800 – $825

Operating cash costs2 $285 $270 – $280

Capital expenditures $165 $160 – $180

Exploration $48 $45 – $55

Royalty cost $21 $22 – $25

G & A $22 $20

2017 PERFORMANCE VERSUS GUIDANCE

1) Refers to all-in sustaining costs2) Refers to cash and cash equivalents

1) 2017 production includes: Fosterville 263,845 ozs (FY) & 79,157 ozs (Q4); Macassa 194,237 ozs (FY) & 51,608 ozs (Q4); Holt 66,677 ozs(FY) & 19,263 ozs (Q4), Taylor 50,764 ozs (FY) & 16,538 ozs (Q4); Cosmo 20,595 ozs (FY) & nil (Q4), Holloway 287 ozs (FY) & 13 ozs (Q4)

2) Operating Cash Costs per ounce and AISC per ounce are examples of Non-IFRS measures. Please see the Non-IFRS Measures section in forward looking statements on Slide 2. In addition, please see Kirkland Lake Gold’s News Release dated February 21, 2018 and full-year and Q4 2017 MD&A for additional reporting details related to Operating Cash Costs per ounce and AISC per ounce results

3) Operating Cash Costs per ounce and AISC per ounce guidance for 2018 reflects an average USD to CAD exchange rate of 1.30 and a USD to AUD exchange rate of 1.30. Operating Cash Costs per ounce and AISC per ounce results in 2017 reflect an average USD to CADexchange rate of 1.30 and USD to AUD exchange rate of 1.30. See Kirkland Lake Gold News release dated February 21, 2018

1. OPERATIONAL EXCELLENCE

KLGOLD.COMTSX:KLNYSE:KLASX:KLA

▪ Production growth to approx. 620 koz• Macassa: 215 – 225 kozs

• Taylor: 60 – 70 kozs

• Holt: 65 – 75 kozs

• Fosterville: 260 – 300 kozs

▪ Improved unit costs• Operating cash costs below $500/oz

• AISC to improve below $800/oz

▪ Investing for future growth • Sustaining: Supports production over multiple years

• Growth: Macassa shaft, near-term growth at Fosterville

▪ Increasing commitment to exploration in 2018• Australia: $60M – $75M at Fosterville and Northern Territory

• Canada: Continued growth of SMC at Macassa and expansion of mineralization at Taylor

Fosterville

Macassa

2018 Guidance

$ millions unless otherwise stated

Production (kozs) +620

Operating cash costs ($/oz)1,2 $425 – $450

AISC ($/oz)1,2 $750 – $800

Operating cash costs1 $260 – $270

Sustaining capital expenditures $150 – $170

Growth capital expenditures $85 – $95

Exploration $75 – $90

Royalty cost $22 – $27

G & A $20 – $22

1) Operating Cash Costs, Operating Cash Costs per ounce and AISC per ounce are examples of Non-IFRS measures. Please see the Non-IFRS Measures section in forward looking statements on Slide 2. In addition, please see Kirkland Lake Gold’s News Release dated February 21, 2018 and full-year and Q4 2017 MD&A for additional reporting details related to Operating Cash Costs per ounce and AISC per ounce results (AISC refers to all-in sustaining costs)

2) Operating Cash Costs per ounce and AISC per ounce guidance reflects an average USD to CAD exchange rate of 1.30 and a USD to AUD exchange rate of 1.30.

1) Includes examples of forward-looking statements6

2018: HIGHER PRODUCTION, LOWER UNIT COSTS, INVESTING FOR GROWTH 1

KLGOLD.COMTSX:KLNYSE:KLASX:KLA

▪ Targeting a million ounces/year in 5 – 7 years1

• Fosterville to reach >400 kozs by 2020 with full production at Swan Zone

• Macassa to achieve >400 kozs in 5 to 7 years with new shaft

• Targeting growth at Taylor mine, resumption of operations at Cosmo

▪ Achieving significant exploration success • Fosterville: Swan Zone discovery (1,160 kozs @ 61.2 g/t),

multiple in-mine and district targets

• Cosmo: Significant expansion of Lantern Deposit recently announced

• Macassa SMC extended 259 m to east

• New mineralization discovered 1.8 km east of Taylor

▪ Aggressive investment in exploration• Exploration expenditures targeted at $75 – $90M in 2018

1) Includes examples of forward-looking statements 7

2. DISCIPLINED ORGANIC GROWTH

KLGOLD.COMTSX:KLNYSE:KLASX:KLA

▪ KL top performing stock on S&P/TSX Comp. Index in 2017 with 174.5% share price increase (on full-year basis)

▪ Repurchased 5.4M shares for C$76.5M

▪ Introduced dividend in July, increasing to C$0.02/share in January 2018

▪ Used cash to eliminate debt, reduce royalties, make strategic investments

▪ Global market presence – listed on TSX (symbol: KL), NYSE (symbol: KL) and ASX (symbol: KLA)

Close on Thursday, Feb. 22, 2018TSX: C$20.21NYSE: $15.91ASX: A$21.50

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3. FOCUSED ON SHAREHOLDER RETURNS

KLGOLD.COMTSX:KLNYSE:KLASX:KLA

FOSTERVILLE – CORNERSTONE OPERATION

KLGOLD.COMTSX:KLNYSE:KLASX:KLA

CENTRAL VICTORIA – WORLD CLASS GOLD PROVINCE

+80Moz Historical Production from Region

Stawell: 2.3Moz 1984-2016

Fosterville: 1.4Moz 2005-current

KLGOLD.COMTSX:KL

207,0

00

231,0

00

182,0

00

244,0

00

491,0

00

1,0

30,0

00

1,7

00,0

00

4.75.2 5.6

7.0

9.8

17.9

23.1

0

5

10

15

20

25

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1,600,000

1,800,000

Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Jun 2017 Dec-17

Reserve Ounces Grade (g/t Au)

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Mineral Reserves – UG only

GROWTH OF HIGH GRADE RESERVES

High grade reserve growth driven by discovery in Lower Phoenix and Harrier

South gold systems

Go

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un

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(oz)

Go

ld G

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/t A

u)

KLGOLD.COMTSX:KLNYSE:KLASX:KLA

Go

ld P

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(o

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Go

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The Fosterville Gold Mine is the largest gold producer in the state of Victoria and is scheduled to produce 260k - 300k oz of gold at an operating cost of $270 - $290 per ounce1 sold in 2018.

• 4+ year life based on reserves• Excellent potential to extend life with resource to reserve

conversion and exploration• 11 drill rigs currently in operation

INCREASED PRODUCTION - INCREASED MARGINS

36,967

44,40646,083

77,069

61,500

79,157

6.9

8.5 11.1

17.2

14.1

21.5

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

20.0

22.0

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

High-Grade Production

$765

$641

$571

$388

$574

$471

$471$420

$354

$220$295

$226

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017

Production Costs US$/oz

AISC OCC

Low-Cost, High-Margin Ounces

1) See the Company’s MD&A for the three and twelve months ended December 31, 2017 dated February 21, 2018 for more information on Fosterville’s operating performance. (See Slide 2 for information regarding Non-GAAP measures).

KLGOLD.COMTSX:KL

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Phoenix Decline

Harrier Decline

Harrier South

Lower Phoenix South

Lower Phoenix North

Development increased to 1,000m/month – drill platforms and access to additional production sources

(Harrier South, Lower Phoenix North)

MINING OPERATION – DECEMBER 2017 RESERVES

KLGOLD.COMTSX:KL

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Central Decline

Phoenix Decline

M & I Mineral Resource

Inferred Mineral Resource

2P Mineral Reserve (ex Swan)

Planned / Conceptual Development

As Mined Development and Stopes

Swan Mineral Reserve

Swan Mineral Reserve

1,160Koz at 61.2g/t Au

Not closed off bydrilling – current

programs targetingextensions

SWAN – HIGH GRADE DISCOVERY

KLGOLD.COMTSX:KL

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SWAN – GROWING RAPIDLY!

KLGOLD.COMTSX:KLNYSE:KLASX:KLAPROCESSING – BIOX® REMAINS IMPORTANT

• Record mill recovery of 95.0% in 2017• Gravity circuit installed in 2016 – 15-30% of gold

recovered. Anticipated to increase to ~50% over medium term

• ~30%+ spare capacity – organic growth opportunity

KLGOLD.COMTSX:KLNYSE:KLASX:KLA

FGM Mill

DISTRICT SCALE POTENTIAL – HOW MANY MORE SWANS?

• Mining lease (~17km2) contains~10km strike length of Mineral Resources~7km on Fosterville Fault Line, and~3km on O’Dwyer’s Fault Line

• Surrounding exploration leases encompass~505km2 and~60km potential gold-bearing structures on 7

interpreted fault lines

• 5 of the 7 lines contain known gold occurrences with historic resources and/or historic workings

• Processing plant within 30km of prospective targets

• Accelerated regional exploration program underway utilising leading technologies e.g. seismic

• Recent application for a further 1,394km2 of exploration leases, 2 out of 3 licences granted with the 3rd pending

KLGOLD.COMTSX:KLNYSE:KLASX:KLANORTHERN TERRITORY – GROWTH OPPORTUNITY

To be updated:• Landholding – sole/JV• Current resources

• Large Tenement Package – 406.9km2 100%, 1,547.8km2 JV (49% KLG)

• Resources – 1.8Moz M&I, 1.3Moz Inferred• 2.4Mtpa Mill at Union Reefs

KLGOLD.COMTSX:KLNYSE:KLASX:KLANORTHERN TERRITORY – GROWTH OPPORTUNITY

• Six Rigs Currently Drilling• Strategy – Develop Multiple Production

Centres to Utilise Installed Mill Capacity

KLGOLD.COMTSX:KLNYSE:KLASX:KLA

20

Operational Excellence

• Strong performance against guidance

• Generating Strong earnings, free cash flow

Discipline Organic Growth

• Growing reserves and resources• Targeting a million ounces/year from existing

mines

Focused on Shareholders Returns• Strong share price performance• Repurchasing shares• Paying dividends

3 PILLARS OF VALUE CREATION