KLGOLD.COMTSX: KL

NYSE: KLASX: KLA

OPERATIONAL EXCELLENCE | ORGANIC GROWTH | SHAREHOLDER RETURNS

On the Road to a Million Ounces of Gold Per Year

SPROTT NATURAL RESOURCE SYMPOSIUM

July 17, 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

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

H1 2018 Production (ounces) 141,305 114,609 56,415 312,329

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

3

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

▪ Ahead of plan entering 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 Guidance1 Actual

Production (kozs) H1 2018 +620 312.32

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

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) H1 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

Macassa Taylor Holt Fosterville2018

Guidance2018

Actuals

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

Production – Q2 2018 (ozs) 60,571 12,940 13,712 77,462 164,685

Production – H1 2018 (ozs) 114,609 25,995 30,387 141,305 312,3292

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 H1 2018 PRODUCTION PERFORMANCE

(1) Represents the Company’s 2018 guidance for which the six-month period ended June 30, 2018 was measured against.(2) Q1 2018 and H1 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 is production costs as presented in the Consolidated Statements of Operations and Comprehensive Income. 2018 Guidance

for operating cash costs per ounce sold reflects an average US$ to C$ exchange rate of 1.2648 and a US$ to A$ exchange rate of 1.2719. Q1 2018 operating cash cost per ounce sold reflects 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

$20

$40

$60

$80

$100

$120

$140

$160

2016 2017

2017 Earnings from ContinuingOperations ($ Millions)

1) See Non-IFRS Measures sections in forward looking statements

$113.9

$178.0

$40

$60

$80

$100

$120

$140

$160

$180

$200

2016 2017

2017 Free Cash Flow ($ Millions)1

237%

$157.3$0.76/share

$46.7$0.39/share

56%

▪ Substantially higher earnings and free cash flow: 2017 vs 2016, Q1 2018 vs Q1 2017

6

STRONG EARNINGS AND CASH FLOW

$10

$20

$30

$40

$50

$60

Q1 2017 Q1 2018

Q1 2018 Net Earnings Quadruple ($ Millions)1

311%

$13.1$0.06/share

$53.8$0.25/share

$38.5

$50.2

$10

$30

$50

Q1 2017 Q1 2018

Q1 2018 Strong Free Cash Flow ($ Millions)1

30%

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

TARGETING A MILLION OUNCES PER YEAR1

1) Includes examples of forward-looking statements 7

▪ 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)

118.0 122.3155.2 175.2

194.2215 - 225

>400

050

100150200250300350400

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

T AR GET

MACASSA GOLD PRODUCTION(KOZS)

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

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 Fosterville’s operating performance. (See Slide 2 for information regarding Non-IFRS measures)2) Operating cash costs per ounce guidance reflects an average USD to AUD exchange rate of 1.27193) See slides entitled Footnotes to Mineral Reserve and Mineral Resource Estimates and NI 43-101 Disclosures provided in the Appendix of this presentation

▪ Record production in 2017, ahead of plan in 2018

• 547.5 kt @ 15.8 g/t for 263,845 ozs in 2017

• 245.0 kt @ 18.7 g/t for 141,305 ozs in H1 2018

• 121.3 kt @ 20.6 g/t for 77,462 ozs in Q2 2018

FOSTERVILLE: TARGETING >400 KOZS/YEAR BY 2020

▪ Low-cost producer1

• Cash costs $264/oz, AISC $491/oz in 2017

• Cash costs $287/oz, AISC $576/oz in Q1 2018

▪ Growing mineral reserves3

• One-year growth in Mineral Reserves of 247%, to 1.70M ozs @ 23.1 g/t

• Swan Zone Mineral Reserves more than double to 1.16M ozs @ 61.2 g/t

▪ 2018 guidance:

• Production: 260 – 300 kozs

• Cash costs: $270 – $290/oz2

8

* Forecast (2018 Guidance)

KLGOLD.COMTSX:KL

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▪ Focus on conversion and extension drilling at Lower Phoenix (Swan/Eagle), Harrier, Lower Phoenix North and Robbin’s Hill

▪ 2018 program consists of approx. 85,000 metres of in-mine drilling

FOSTERVILLE: EXTENSIVE NEAR-MINE DRILLING PLANNED IN 2018

9

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

▪ Swan Zone: Mineral Reserves 1.16 mozs @ 61.2 g/t1; M&I Mineral Resources 171 kozs @ 116 g/t; Inferred Mineral Resources 671 kozs @ 36.6 g/t

10

SWAN ZONE: HIGH-GRADE, VISIBLE-GOLD BEARING QUARTZ VEINS

1) All drill results presented in grams per tonne2) See press release dated November 7, 2017 for more detailed drill results

2

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

▪ Approx. 76,000 metres of drilling planned in 2018

▪ Exploration to also include surface soil sampling, gravity geophysical surveys, 3-D seismic surveys & reconnaissance

▪ Mining lease (MIN5404:~17km2) contains

• ~10km strike length of Mineral Resources

• ~7km on Fosterville Trend, and

• ~3km on the O’Dwyer’s Trend

▪ Surrounding exploration leases encompass

• ~1900km2 and

• ~60km potential gold-structures on 7 interpreted fault lines

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

▪ FGM processing plant within 30km of prospective targets

➢ LODE program proposed in aggressive 2-year exploration of EL3539

FOSTERVILLE: LARGE ORE DEPOSIT EXPLORATION (“LODE”)

11

GOORNONG

ROBBIN’S HILL

FOSTERVILLE MINE

RUSSELL’S REEF

ACCOTTS

AXEDALE

NORTH

SOUTH

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

CurieFranklin

▪ Robbin’s Hill Drilling• Visible gold occurrences on

Curie structure

• Potential for mineralization at depth

• O’Dwyer’s Trend parallel structure to Fosterville Trend

Long Projection

ROBBIN’S HILL: VISIBLE-GOLD BEARING MINERALIZATION SIMILAR TO FOSTERVILLE

ROBBIN’S HILL MINED OPEN PIT

12

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

MACASSA: ACHIEVING RECORD RESULTS

▪ Achieving record production

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

• 176.4 kt @ 20.5 g/t for 114,609 ozs in H1 2018

• 89.8 kt @ 21.5 g/t for 60,571 ozs in Q2 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 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

13

* Forecast (2018 Guidance)

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NYSE:KLASX:KLA

MACASSA: LARGE RESERVE AND RESOURCE BASE CLOSE TO #4 SHAFT LOCATION

14

December 31, 2017 December 31, 2016

Macassa1 Tonnes(000's)

Grade (g/t)

Ounces (000’s)

Tonnes (000's)

Grade (g/t)

Gold Ounces (000’s)

P&P Reserves 3,010 21.0 2,030 3,000 20.8 2,010

M&I Resources 3,800 17.1 2,090 2,480 16.6 1,320

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

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

MACASSA: KEY EXPLORATION TARGETS

15

‘04 East Zone

SMC5300 Level SMC Exploration

Near-Mine Exploration Potential

4500 L ‘05 BreakExploration

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NYSE:KLASX:KLA

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

16

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

▪ Intersections outside current resources demonstrate potential for resource growth

▪ April 2018 press release included high-grade intersection within Inferred resource shapes, supports future resource conversion

High-grade intersections outside existing resources highlight potential for future resource growth

NEW SOUTH ZONE

High-potential area within SMC includes high grades and greater than normal widths

1) Includes examples of forward-looking statements

SOUTH MINE COMPLEX

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

FOCUSED ON CREATING VALUE FOR SHAREHOLDERS

17

▪ Share price on TSX: +157% (1 year), +57% (YTD 2018)1

▪ #1 on S&P/TSX Composite Index in 2017 with 174.5% share price increase2

▪ Strong earnings and cash flow

▪ Deploying cash to drive growth, reduce debt and reward shareholders

▪ Shares repurchase program

▪ Quarterly dividend introduced in July 2017, increased twice

KL outperforming peers

TSX:KL

S&P/TSX Global Gold Index

KL (TSX)1: 157% one-year share price increase57% YTD share price increase in 2018

1) As at July 11, 20182) Ranked first on S&P/TSX Composite Index for companies on the Index for the entire year.

Notes, additional disclosure and other information

KLGOLD.COMTSX: KL

NYSE: KLASX: KLA

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

TAYLOR: EXTENDING MINERALIZATION TO DEPTH AND ALONG STRIKE

19

▪ New gold zone below WP Deposit extended 150 metres to depth

▪ High-grade mineralization intersected 1.1 km, 1.3 km and 2.9 km east of Shaft Deposit

▪ Growing production1

• 292.0 kt @ 5.6 g/t for 50.8 kozs in 2017

• 84.5 kt @ 5.0 g/t for 13.1 kozs in Q1 2018

▪ Unit costs to improve• Cash costs $610/oz, AISC $972/oz in 2017

• Cash costs $681/oz, AISC $1,103/oz in Q1 2018

▪ 2018 guidance:• Production: 60 – 70 kozs

• Cash costs: $575 – $625/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 guidance for 2018 reflects an average USD to CAD exchange rate of 1.2648

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HOLT MINE COMPLEX

20

53.2

66.7

2016 2017

Gold Production (kozs)

Holt Mine Overview Stats1

2016 2017

Gold Production (kozs) 53.2 66.7

Gold Grade (g/t) 4.5 4.7

Cash Costs (US$/oz)2 $623 $685

AISC (US$/oz) $1,044 $1,043

▪ Two mines and milling facility• Holt: 463.0 kt @ 4.7 g/t for 66.7 kozs in 2017

122.3 kt @ 4.5 g/t for 16.7 kozs in Q1 2018• Holloway: on care and maintenance since Dec. 2016

▪ 3,000tpd processing capacity (30% unused)• Conventional CIL milling facility• 3 mill grinding circuit• Mill feed from Holt and Taylor mines

▪ Royalty structure impacts economic attractiveness of both Holt and Holloway

▪ No exploration drilling ongoing or planned

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 guidance for 2018 reflects an average USD to CAD exchange rate of 1.2648

KLGOLD.COMTSX:KL

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▪ Two exploration drifts being developed from Cosmo ramp into Lantern Deposit

▪ Substantial depth extension at Union Reefs suggests potential for additional economic deposits

▪ Targeting 100 kozs/year, AISC below $950/oz in Northern Territory1

UNION REEFS MILL

CROSSCOURSE

PROSPECT

LADY ALICE

Union Reefs key intersections (April 30, 2018):

• 95.0 g/t Au over 1.1 m (ETW 1.0 m) (Crosscourse)• 22.2 g/t Au over 1.0 m (ETW 0.7 m) (Crosscourse)• 25.6 g/t Au over 0.85 m (ETW 0.5 m) (Crosscourse)• 10.8 g/t Au over 3.0 m (ETW 1.9 m) (Prospect)• 20.5 g/t Au over 0.95 m (ETW 0.7 m) (Prospect)• 15.6 g/t Au over 0.90 m (ETW 0.5 m) (Prospect)• 7.3 g/t Au over 1.7 m (ETW 1.2 m) (Lady Alice)

NORTHERN TERRITORY: POTENTIAL NEW SOURCE OF PRODUCTION

COSMO MINE

UNION REEFS

1) Includes examples of forward-looking statements21

KLGOLD.COMTSX:KL

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Board of Directors

Eric Sprott Chairman of the Board

Anthony Makuch President & CEO

Barry Olson Independent

Pamela Klessig Independent

Jeffrey Parr Independent

Raymond Threlkeld Independent

Jonathan Gill Independent

Arnold Klassen Independent

BOARD OF DIRECTORS

22

KLGOLD.COMTSX:KL

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Q1 2018 FINANCIAL AND OPERATING OVERVIEW

Three Months Ended March 31, 2018

Three Months Ended March 31, 2017 (Restated)(1)

Tonnes milled 417,356 520,888

Grade (g/t Au) 11.5 8.2

Recovery (%) 96.3 % 95.2 %

Gold produced (oz) 147,644 130,425

Gold Sold (oz) 147,763 137,841

Averaged realized price ($/oz sold)(2) 1,333 1,225

Operating cash costs per ounce ($/oz sold)(2) 447 564

AISC ($/oz sold)(2) 833 873

Adjusted net earnings from continuing operations(2) $52,561 $17,474

Adjusted net earning per share from continuing operations(2) $0.25 $0.09

(in thousands of dollars, except per share amounts)Three Months Ended

March 31, 2018Three Months Ended March

31, 2017 (Restated)(1)

Revenue $198,237 $168,528

Production costs 66,097 80,609

Earnings before income taxes 77,274 28,153

Loss from discontinued operations — (2,235)

Net earnings $53,807 $13,133

Basic earnings per share from continuing operations $0.25 $0.08

Diluted earnings per share from continuing operations $0.25 $0.07

Total basic earnings per share $0.25 $0.06

Total diluted earnings per share $0.25 $0.06

Cash flow provided by operating activities of continuing operations $89,637 $67,874

Cash investment in mine development and PPE $39,428 $29,326

23(1) These figures are restated due to the sale of Stawell in December 2017.

(2) Non-IFRS - the definition and reconciliation of these Non-IFRS measures are included on pages 27-31 of the Q1 2018 MD&A.

KLGOLD.COMTSX:KL

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BALANCE SHEET – MARCH 31, 2018 ($ Thousands)

24

As at March 31, 2018 December 31, 2017

Assets

Current assets

Cash $275,344 $231,596

Accounts receivable 11,724 15,668

Inventories 43,790 41,432

Prepaid expenses 12,660 10,922

$343,518 $299,618

Non-current assets

Other long-term assets 123,546 114,680

Restricted cash 21,765 22,193

Mining interests and plant and equipment 1,041,238 1,049,309

$1,530,067 $1,485,800

Liabilities

Current liabilities

Accounts payable and accrued liabilities $81,523 $84,746

Share based liabilities 2,569 1,898

Finance leases 16,857 16,358

Income tax payable 9,563 8,337

Provisions 16,211 19,133

$126,723 $130,472

Non-current liabilities

Share based liabilities 448 218

Provisions 40,633 41,652

Finance leases 22,236 22,217

Deferred tax liabilities 149,336 133,645

$339,376 $328,204

Shareholders' equity

Share capital 953,270 951,184

Reserves 33,774 33,122

Accumulated other comprehensive income 15,971 36,078

Retained earnings 187,676 137,212

1,190,691 1,157,596

$1,530,067 $1,485,800

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

MINERAL RESERVE ESTIMATES – DECEMBER 31, 2017

December 31, 2017 December 31, 2016

Tonnes (000's)

Grade (g/t)

Gold Ozs (000’s)

Depleted Oz2017 (000’s)

Tonnes (000's)

Grade(g/t)

Gold Ozs (000’s)

Macassa 3,010 21.0 2,030 190 3,000 20.8 2,010

Taylor 1,090 4.8 167 55 743 5.4 129

Holt 3,600 4.2 486 74 3,950 4.5 570

Hislop(1) 176 5.8 33 - 176 5.8 33

Holloway(1) 54 5.8 10 - 58 5.7 10

Total CDN Operations 7,930 10.7 2,730 319 7,930 10.8 2,750

Fosterville 2,290 23.1 1,700 278 1,560 9.8 490

Northern Territory(1) 2,800 2.4 215 21 2,400 2.3 177

Total AUS Operations 5,090 11.7 1,910 299 3,960 5.3 667

Total 13,020 11.1 4,640 618 11,890 9.0 3,420

December 31, 2017 June 30, 2017

Tonnes (000's)

Grade (g/t)

Gold Ozs (000’s)

Depleted OzH2 2017 (000’s)

Tonnes (000's)

Grade(g/t)

Gold Ozs (000’s)

Fosterville 2,290 23.1 1,700 142 1,790 17.9 1,030

The following table compares the Mineral Reserve estimate for Fosterville mine as at December 31, 2017 to the June 30, 2017 mid-year estimate (see Company News Release dated July 27, 2017).

25

KLGOLD.COMTSX:KL

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MEASURED & INDICATED MINERAL RESOURCES – DECEMBER 31, 2017

Measured & Indicated1 December 31, 2017 December 31, 2016

Tonnes (000's) Grade (g/t)Gold Ozs (000’s)

Tonnes (000's)

Grade(g/t)

Gold Ozs (000’s)

Macassa 3,800 17.1 2,090 2,480 16.6 1,320

Taylor 1,830 6.2 370 2,760 5.6 493

Holt 6,510 4.1 860 6,970 4.2 947

Aquarius 22,300 1.3 930 22,300 1.3 930

Holloway 1,370 5.3 230 1,370 5.3 230

Hislop 1,150 3.6 130 1,150 3.6 130

Ludgate 520 4.1 70 522 4.1 68

Canamax 240 5.1 40 240 5.1 39

Total CDN Operations 37,720 3.9 4,720 37,790 3.4 4,160

December 31, 2017 December 31, 2016

Inclusive of Reserves

Fosterville 15,500 8.4 4,190 14,700 5.6 2,640

Northern Territory 26,900 2.3 1,940 30,700 2.2 2,180

42,400 4.5 6,140 45,400 3.3 4,820

December 31, 2017 June 30, 2017

Exclusive of Reserves

Fosterville 13,900 4.8 2,150 13,700 4.4 1,940

Northern Territory 24,100 2.3 1,810 Unavailable38,000 3.2 3,960 Unavailable

1) Measured & Indicated Mineral Resources are presented exclusive of Mineral Reserves unless otherwise specified. 26

KLGOLD.COMTSX:KL

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INFERRED MINERAL RESOURCES – DECEMBER 31, 2017

1) Inferred Mineral Resources at Fosterville as at June 30, 2017 included 5,560,000 tonnes at an average grade of 5.8 g/t for 1,040,000 ounces.

Inferred December 31, 2017 December 31, 2016

Tonnes (000's)

Grade (g/t)

Gold Ozs (000’s)

Tonnes (000's)

Grade(g/t)

Gold Ozs

(000’s)

Macassa 1,920 22.2 1,370 1,420 20.2 924

Taylor 2,570 5.2 430 1,810 5.4 313

Holt 8,000 4.8 1,220 8,690 4.7 1,320

Holloway 2,710 5.2 460 2,710 5.2 456

Hislop 800 3.7 100 797 3.7 95

Ludgate 1,400 3.6 160 1,400 3.6 162

Card 240 3.3 30 - - -

Canamax 170 4.3 20 170 4.3 23

Runway 210 3.7 20 - - -

Total CDN Operations 18,020 6.6 3,810 17,000 6.0 3,290

Fosterville(1) 8,280 7.1 1,900 5,400 4.6 792

Northern Territory 16,300 2.5 1,280 15,100 2.3 1,110

Total AUS Operations 24,580 4.0 3,180 20,500 2.9 1,900

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FOOTNOTES RELATED TO MINERAL RESERVE & MINERAL RESOURCE ESTIMATES

Detailed footnotes related to Mineral Reserve Estimates (dated December 31, 2017)

(1) CIM definitions (2014) were followed in the calculation of Mineral Reserves.(2) Mineral Reserves were estimated using a long-term gold price of US$1,280/oz (C$1,600/oz; A$1,600/oz).(3) Cut-off grades for Canadian Assets 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.(4) Cut-off grades for Australian Assets from 0.4 g/t Au to 3.0 g/t Au, depending upon width, mining method and ground conditions; dilution and mining recovery factors

varied by property.(5) Mineral Reserves estimates for the Canadian Assets were prepared under the supervision of P. Rocque, P. Eng.(6) Mineral Reserves estimates for the Fosterville property were prepared under the supervision of Ion Hann, FAusIMM.(7) Mineral Reserves estimates for the Northern Territory property were prepared under the supervision of Russell Cole, FAusIMM.(8) Mineral Reserves for Fosterville relate to Underground Mineral Reserves and do not include 649,000 tonnes at an average of 7.7 g/t for 160,000 ounces of Carbon-In-

Leach Residues – 25% recovery is expected based on operating performances.(9) Totals may not add exactly due to rounding.

Detailed footnotes related to Mineral Resource Estimates for Canadian Assets (dated December 31, 2017)

(1) CIM definitions (2014) 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 D. Cater, P. Geo. Vice President Exploration Canada.(4) Mineral Resources are estimated using a long-term gold price of US$1,280/oz (C$1,600/oz).(5) Mineral Resources were estimated using a 8.6 g/t cut-off grade for Macassa, a 2.9 g/t cut-off grade for Holt, and a 2.6 g/t cut-off grade for Taylor, a 3.9 g/t cut-off

grade (Holloway), a 2.5 g/t cut-off grade for Canamax, Card, Runway and Ludgate, a 2.2 g/t cut-off grade for Hislop and 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, 2017)

(1) CIM definitions (2014) were followed in the estimation of Mineral Resource.(2) Mineral Resources are estimated using a long-term gold price of US$1,280/oz (A$1,600/oz)(3) Mineral Resources for the Australian assets are reported exclusive and inclusive of Mineral Reserves to allow for meaningful comparison to prior periods.(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 g/t Au for potentially open pit mineralization and cut-offs of 1.0 to 2.0g/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 Mark Edwards, FAusIMM (CP).(8) Totals may not add up due to rounding.

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Kirkland Lake Gold Qualified Person and QA/QC

All production information and other scientific and technical information in this presentation with respect to Kirkland Lake Gold and its assets were prepared in accordance with the standards of the Canadian Institute ofMining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and were prepared, reviewed, verified and compiled by Kirkland Lake Gold’s mining staff underthe supervision of, Pierre Rocque P. Eng., Kirkland Lake Gold’s Vice President, Canadian Operations or Ian Holland, Vice President, FAusIMM, Australian Operations.

The exploration programs across Kirkland Lake Gold’s land holdings in Kirkland Lake were prepared, reviewed, verified and compiled by Kirkland Lake Gold’s geological staff under the supervision of Doug Cater, P.Geo., theCompany’s Vice President of Exploration, Canadian Operations or John Landmark, Vice President, Exploration, Australian. All reserve and resource estimates for the Kirkland Lake Gold Properties as at December 31, 2017 havebeen audited and verified, and the technical disclosure has been approved. The QP’s for the mineral reserves and resources outlined under the PDFZ Properties are Doug Cater, P. Geo, and, Pierre Rocque P. Eng., the VicePresident of Technical Services respectively.

Sample preparation, analytical techniques, laboratories used and quality assurance-quality control protocols used during the exploration drilling programs are done consistent with industry standards and independent certifiedassay labs.

REFER TO KIRKLAND LAKE GOLD ANNUAL INFORMATION FORM DATED APRIL 2, 2018, AVAILABLE ON SEDAR (www.sedar.com) FOR COMPLETE NI 43-101 NOTES AND DISCLOSURE PERTAINING TO THE RESOURCE AND RESERVE STATEMENTS QUOTED HEREIN. All updated NI 43-101 TECHNICAL REPORTS IN SUPPORT OF THE COMPANY’S NEWS RELEASE ISSUED ON FEBRUARY 20, 2018, ENTITLED “KIRKLAND LAKEK GOLD REPORTS STRONG GROWTH IN MINERAL RESERVES AND MINERAL RESOURCES,” WHICH WAS FILED ON SEDAR AT WWW.SEDAR.COM AND IS AVAILABLE ON THE COMPANY’S WEBSITE.

Qualified Persons

Pierre Rocque, P.Eng., Vice President, Canadian Operations is a "qualified person" as defined in National Instrument 43-101 and has reviewed and approved disclosure of the Mineral Reserves technical information and data for all Kirkland Lake Gold assets in this News Release.

Simon Hitchman, FAusIMM (CP), MAIG, Principal Geologist, Troy Fuller, MAIG, Geology Manger and Ion Hann, FAusIM, Mining Manager, are “qualified person” as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data from the Australian Assets included in this News Release.

Doug Cater, P. Geo Vice President, Exploration, Canada is a "qualified person" as defined in National Instrument 43-101 and has reviewed and approved disclosure of the Mineral Resources technical information and data for the Canadian Assets included in this News Release.

Cautionary Note to U.S. Investors - Mineral Reserve and Resource Estimates

All resource and reserve estimates included in this news release or documents referenced in this news release have been prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the "CIM Standards"). NI 43-101 is a rule developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. The terms "mineral reserve", "proven mineral reserve" and "probable mineral reserve" are Canadian mining terms as defined in accordance with NI 43-101 and the CIM Standards. These definitions differ materially from the definitions in SEC Industry Guide 7 ("SEC Industry Guide 7") under the United States Securities Act of 1933, as amended, and the Exchange Act.

In addition, the terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101 and the CIM Standards; however, theseterms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the U.S. Securities and Exchange Commission (the "SEC"). Investors are cautionednot to assume that all or any part of mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to theireconomic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form thebasis of feasibility or pre-feasibility studies, except in very limited circumstances. Investors are cautioned not to assume that all or any part of a mineral resource exists, will ever be converted into a mineral reserve or is or will everbe economically or legally mineable or recovered.

NI 43-101 DISCLOSURES

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