KLGOLD.COMTSX: KL

NYSE: KLASX: KLA

OPERATIONAL EXCELLENCE | ORGANIC GROWTH | SHAREHOLDER RETURNS

On the Road to a Million Ounces of Gold Per Year

Macassa Site Visit

June 20, 2018

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

FORWARD LOOKING STATEMENTS

2

Macassa

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, 2018 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-IFRS 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 this information toassess 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-IFRS measures and do not have anystandardized 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 accordancewith 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.

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

KL: HIGH-GRADE, LOW-COST GOLD MINES

2 Key Drivers of Performance – 77% of 2017 Production

Fosterville Macassa Other Mines1 Consolidated

P&P Mineral Reserves (kozs) 1,700 2,030 910 4,640

P&P Reserve Grade (g/t Au) 23.1 21.0 4.6 11.1

2017 Production (ounces) 263,845 194,237 138,323 596,405

2017 Op. Cash Costs ($/Oz Sold)2,3 264 523 653 481

1) Includes the Holt/Holloway and Taylor mines (excludes Northern Territory, which is on care and maintenance)2) See Non-IFRS Measures sections in forward looking statements 3) Operating Cash Costs per ounce reflect an average USD to CAD exchange rate of 1.2965 and a USD to AUD exchange rate of 1.3041. See Kirkland Lake Gold News release dated February 21, 2018

IN LEADING MINING JURISDICTIONS

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KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

▪ Ahead of plan entering Q2 2018

▪ Production to increase in H2 2018

▪ Unit costs to improve from Q1 2018 as sales volumes increase

▪ Growth capital expenditures to increase from Q1 levels as projects at Macassa and Fosterville ramp up

▪ Exploration program generating favourable results

Fosterville

Macassa

$ millions unless otherwise stated Guidance Actual

Production (kozs)1 +620 147.62

Operating cash costs ($/oz)3 $425 – $450 $447

AISC ($/oz)3 $750 – $800 $833

Operating cash costs3 $260 – $270 $66.0

Sustaining capital expenditures $150 – $170 $42.1

Growth capital expenditures $85 – $95 $6.7

Exploration $75 – $90 $16.7

Royalty cost $22 – $27 $6.0

G & A4 $20 – $22 6.9

KL: ACHIEVING OPERATIONAL EXCELLENCE

1) Includes examples of forward-looking statements4

Q1 2018 PERFORMANCE VERSUS GUIDANCE

(1) Represents the Company’s 2018 guidance for which the three-month period ended March 31, 2018 was measured against.(2) Q1 2018 consolidated production includes 33 ounces from the Holloway Mine.(3) See “Non-IFRS Measures” set out starting on page 27 of the Q1 2018 MD&A for further details. The most comparable IFRS

Measure for operating cash costs, operating cash costs per ounce sold and AISC per ounce sold is production costs and totaladditions and construction in progress for sustaining and growth capital, as presented in the Consolidated Statements ofOperations and Comprehensive Income. 2018 Guidance for operating cash costs, operating cash cost per ounce sold and AISCper ounce sold reflect an average US$ to C$ exchange rate of 1.2648 and a US$ to A$ exchange rate of 1.2719. Q1 2018operating cash costs, operating cash cost per ounce sold and AISC per ounce sold reflect an average US$ to C$ exchange rate of1.2648 and a US$ to A$ exchange rate of 1.2719.

(4) Includes general and administrative costs and severance payments. Excludes non-cash share-based payment expense.

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

CANADA AUSTRALIA

$ million unless otherwise states Macassa Taylor Holt Fosterville2018

GuidanceQ1 2018Actual

Production – 2018 guidance (kozs) 1 215 – 225 60 – 70 65 – 75 260 – 300 +620

Production – Q1 2018 (ozs) 54,038 13,055 16,675 63,843 147,6442

Op. cash costs ($/oz)1,2 $475 – $500 $625 – $650 $625 – $650 $270 – $290 $425 – $450

Q1 2018 Op. cash costs ($/oz) 1,2 $499 $681 $645 $287 $447

STRONG Q1 2018 PERFORMANCE

(1) Represents the Company’s 2018 guidance for which the three-month period ended March 31, 2018 was measured against.(2) Q1 2018 consolidated production includes 33 ounces from the Holloway Mine.(3) See “Non-IFRS Measures” set out starting on page 27 of the Q1 2018 MD&A for further details. The most comparable IFRS Measure for operating cash costs, operating cash costs per ounce sold and AISC per ounce sold is production costs and total additions and construction in

progress for sustaining and growth capital, as presented in the Consolidated Statements of Operations and Comprehensive Income. 2018 Guidance for operating cash costs, operating cash cost per ounce sold and AISC per ounce sold reflect an average US$ to C$ exchange rate of1.2648 and a US$ to A$ exchange rate of 1.2719. Q1 2018 operating cash costs, operating cash cost per ounce sold and AISC per ounce sold reflect an average US$ to C$ exchange rate of 1.2648 and a US$ to A$ exchange rate of 1.2719. 5

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

KL: TARGETING A MILLION OUNCES PER YEAR1

1) Includes examples of forward-looking statements 6

▪ Fosterville to reach >400 kozs by 2020

▪ Macassa to double production to >400 kozs with completion of #4 Shaft

▪ Targeting growth at Taylor from 60 – 70 kozs in 2018

▪ Holt produces 65 – 75 kozs/year

Additional Opportunities

▪ Resume operations in Northern Territory: targeting ~100 kozs per year

▪ Potential to grow production at Holt/Holloway

98.4 105.3 123.1151.2

263.8

260 - 300

>400

0

50

100

150

200

250

300

350

400

2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 (F) 2 0 2 0

FOSTERVILLE GOLD PRODUCTION (KOZS)

118.0 122.3155.2

175.2194.2

215 - 225

>400

0

50

100

150

200

250

300

350

400

2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 (F) 5 - 7 Y EAR S

MACASSA GOLD PRODUCTION(KOZS)

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

KIRKLAND LAKE, ONTARIO - LOCATION

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KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

PLAN VIEW OF PROJECT AREA – KIRKLAND LAKE GOLD CAMP

South Mine Complex Gold DepositSMC

• The Kirkland Lake gold camp has been in production for 100 years (as of 2019)

• One of the highest grade gold camps in the world

• Almost 25 Moz has been produced to date, from seven mines

• Kirkland Lake Gold owns five former producing high grade mines with historical production of ~22 Moz of gold

• Average head grade of @15 g/t

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KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

MACASSA MINERALIZED ZONES

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KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

MACASSA: STRONG OPERATING PERFORMANCE

▪ Achieving record production

• 409.1 kt @ 15.2 g/t for 194,237 ozs in 2017

• 86.7 kt @ 19.9 g/t for 54,038 ozs in Q1 2018

▪ Low-cost producer1

• Cash costs $523/oz, AISC $845/oz in 2017

• Cash costs $499/oz, AISC $818/oz in Q1 2018

▪ Large base of mineral reserves/mineral resources(as at Dec. 31, 2016)3

• Replaced Mineral Reserves after depletion of @190 kozs in 2017

• 58% increase in M&I Resources and 48% increase in Inferred

▪ 2018 guidance:

• Production: 215 – 225 kozs

• Cash costs: $475 – $500/oz2

1) See the Company’s MD&A for the three months ended March 31, 2018 and the three and twelve months ended December 31, 2017 for more information on Macassa’s operating performance. (See Slide 2 for information regarding Non-IFRS measures)2) Operating Cash Costs per ounce 2018 guidance reflects an average USD to CAD exchange rate of 1.26483) See slides entitled Footnotes to Mineral Reserve and Mineral Resource Estimates and NI 43-101 Disclosures provided in the Appendix of this presentation

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Q1 Q2 Q3 Q4 PLANNED 2018 STOPE PRODUCTION

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

2017 YEAR-END UPDATED RESERVES AND RESOURCES

2017 2016

Tonnes (000’s)

Gold Grade (g/t)

Gold Ounces (000’s)

Tonnes (000’s)

Gold Grade (g/t)

Gold Ounces (000’s)

Mineral Reserves

Proven 386 16.7 207 610 16.9 332

Probable 2,620 21.7 1,830 2,390 21.8 1,670

Proven and Probable

3,010 21.0 2,030 3,000 20.8 2,010 +1%

Mineral Resources

Measured 1,570 17.8 900 907 16.2 474

Indicated 2,230 16.6 1,190 1,570 16.8 849

Measured and Indicated

3,800 17.1 2,090 2,480 16.6 1,320 58%

Inferred Resources 1,920 22.2 1,370 1,421 20.2 924 48%

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KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

MACASSA: CONCENTRATION OF RESERVES IN SOUTH MINE COMPLEX

NotesCIM Definition Standards (2014) were followed in the estimation of Mineral Reserves.Mineral Reserves were estimated using a long term gold price of US$1,280/oz(CDN$1,600/oz).Cut-off grades were calculated for each stope, including the costs of: mining, milling, General and Administration, royalties and capital expenditures and other modifying factors (e.g. dilution, mining extraction, mill recovery).Mineral Reserves estimates were prepared under the supervision of Pierre Rocque, P. Eng.Totals may not add exactly due to rounding.

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KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

MACASSA MINE: TECHNICAL DESCRIPTION

UNDERGROUND MINE INFORMATION

Daily Ore Mining Rate 1,050 tpd

Mining Method(s) Mechanized Over & Underhand C&F,Longhole

Underground Haulage Battery Operated Mainly

Backfill Type(s) Pastefill and Rockfill

Haulage to Surface 10.2 Tonne Skip

Shaft/Ramp Depth 5800’ Shaft / 5700’ Ramp

Shaft Capacity 2,250 tpd

Operating Faces 30 to 40 active ore headings

MILL INFORMATION

Nameplate Capacity 2,000 tpd

Current Utilization 1,050 tpd

Circuit Description Leach, CIP

Recovery ~97%

Tailings Type Upstream Casting

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KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

#4 SHAFT: MULTIPLE BENEFITS

14

Macassa #4 Shaft

▪ 21.5-foot diameter concrete-lined shaft with 4,000 tonne-per-day hoisting capacity

▪ 5,450-foot depth (Phase 1)

▪ Phase 1 completion Q2 2022, production commences

▪ Phase 1 capital estimate: $240M

▪ Extension to approx. 7,000 foot depth contemplated (Phase 2)

▪ Phase 2 capital estimate: $80M

Benefits: 1. De-risks operation 2. Supports more effective exploration 3. Improves working conditions 4. Doubles production (>400 kozs/year) 5. Lowers unit costs

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

#4 SHAFT: SCOPE OF WORK

Shaft – Three Key Components Concrete Headframe & Hoist House

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KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

PLANNED WORK IN 2018

#4 Shaft Location – Surface Work ▪ Planned work in 2018:

• Q1 2018: Permitting and engineering

• Q2 2018: Hoist procurement, site grading and excavation

• Q3 2018: Headframe construction, other surface construction, shaft collar development

• Q4 2018: Headframe construction, building construction, hoist installation

▪ Q2 2019: Full-face shaft sinking commences

▪ Q2/2022: 5450L loading pocket available for use

▪ Q4/2023: 6900L loading pocket available for use

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KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

EXPLORATION: FOCUSED ON CONTINUED GROWTH IN RESERVES AND RESOURCES

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KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

KEY EXPLORATION TARGETS

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‘04 East Zone

SMC5300 Level SMC Exploration

Near-Mine Exploration Potential

4500 L ‘05 BreakExploration

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

5300 L EXPLORATION DRIFT KEY TO CONTINUED RESOURCE GROWTH AND CONVERSION

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KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

MACASSA: RECENT DRILL RESULTS SUPPORT FUTURE RESERVE/RESOURCE GROWTH 1

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▪ High-grade intersections in close proximity to #4 Shaft location

▪ Intersections within Inferred resource shapes to support future resource conversion

▪ Intersections outside current resources demonstrate potential for resource growth

Multiple high-grade intersection within & outside existing

resource blocks

1) Includes examples of forward-looking statements

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

MACASSA: RECENT DRILL RESULTS SUPPORT FUTURE RESERVE/RESOURCE GROWTH 1

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▪ High-grade intersections in close proximity to #4 Shaft location

▪ Intersections within Inferred resource shapes to support future resource conversion

▪ Intersections outside current resources demonstrate potential for resource growth

1) Includes examples of forward-looking statements

Footwall vein intersected 134 m east of New South

Zone

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

Operational Excellence▪ On track to achieve 2018 production & cost guidance

▪ Record quarterly production in Q1 2018

▪ Operating cash costs $499/oz

Attractive Organic Growth▪ Doubling production to >400 kozs (5 – 7 years)

▪ #4 shaft to de-risk the mine, improve working conditions, support future exploration, grow production & lower unit costs

Supporting Shareholders Returns▪ Low-cost, high-margin operation

▪ Large base of reserves & resources, with substantial growth potential

▪ Achieving continued exploration success

MACASSA: A FLAGSHIP ASSET GENERATING VALUE

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