Kinross announces renewal of NCIB

(All dollar amounts are expressed in U.S. dollars, unless otherwise noted.)

TORONTO, March 19, 2025 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (“Kinross” or the “Company”) (TSX: K, NYSE: KGC) is pleased to announce that the Toronto Stock Exchange (the “TSX”) has accepted the notice filed by the Company to renew its normal course issuer bid (“NCIB”) program.

Under the NCIB program, the Company is authorized to purchase up to 110,350,160 of its common shares (out of the 1,229,635,757 common shares outstanding as at February 28, 2025) representing up to 10% of the Company’s public float of 1,103,501,601 common shares, during the period starting on March 24, 2025 and ending on March 23, 2026.

The Company believes that the market price of the common shares may not, from time to time, fully reflect their value and accordingly the purchase of the common shares would be in the best interest of the Company and an attractive and appropriate use of available funds. Kinross is committed to enhancing shareholder returns through programs such as a share buyback and its quarterly dividend, which are underpinned by the Company’s investment grade balance sheet and strong free cash flow generation from its global portfolio.

Kinross may make purchases, from time to time, through the facilities of the TSX, the New York Stock Exchange (the “NYSE”) and/or alternative Canadian trading systems, if eligible, or by such other means as may be permitted by the TSX and/or NYSE or under applicable law. Daily repurchases on the TSX will be limited to a maximum of 853,989 common shares, representing 25% of the average daily trading volume for the six months ended February 28, 2025 (being 3,415,916 common shares), except where purchases are made in accordance with the “block purchase exception” of the TSX rules. Subject to certain exceptions for block purchases, the maximum number of common shares which can be purchased per day on the NYSE will be 25% of the average daily trading volume for the four calendar weeks preceding the date of purchase. All shares purchased by the Company under the NCIB program will be cancelled. Pursuant to the terms of the previous normal course issuer bid approved by the TSX on August 12, 2023, the Company was authorized to repurchase up to 108,440,227 of its common shares and repurchased no common shares.