This document provides an overview of Kirkland Lake Gold's Macassa mine in Ontario, Canada. Some key points: - Macassa is a high-grade, low-cost gold mine that achieved record production of 194,237 ounces in 2017 at a cash cost of $523/ounce. Production in Q1 2018 was 54,038 ounces at a cash cost of $499/ounce. - Mineral reserves increased 1% in 2017 to over 2 million ounces despite depletion, and mineral resources grew significantly with a 58% increase in measured and indicated resources. - The majority of reserves are concentrated in the high-grade South Mine Complex below the 5600 level, with grades generally increasing at depth.

1. KLGOLD.COM
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OPERATIONAL EXCELLENCE | ORGANIC GROWTH | SHAREHOLDER RETURNS
On the Road to a Million Ounces of Gold Per Year
Macassa Site Visit
May 29, 2018

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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 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-IFRS measures and 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 of performance 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 these measures.

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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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 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 – $22 6.9
KL: ACHIEVING OPERATIONAL EXCELLENCE
1) Includes examples of forward-looking statements
4
Q1 2018 PERFORMANCE VERSUS GUIDANCE
(1) Represents the Company’s 2018 guidance for which the three-month period ended March 31, 2018 was measured against.
(2) Q1 2018 consolidated production includes 33 ounces from the Holloway Mine.
(3) See “Non-IFRS Measures” set out starting on page 27 of the Q1 2018 MD&A for further details. The most comparable IFRS
Measure for operating cash costs, operating cash costs per ounce sold and AISC per ounce sold is production costs and total
additions and construction in progress for sustaining and growth capital, as presented in the Consolidated Statements of
Operations and Comprehensive Income. 2018 Guidance for operating cash costs, operating cash cost per ounce sold and AISC
per ounce sold reflect an average US$ to C$ exchange rate of 1.2648 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.
(4) Includes general and administrative costs and severance payments. Excludes non-cash share-based payment expense.

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CANADA AUSTRALIA
$ million unless otherwise states Macassa Taylor Holt Fosterville
2018
Guidance
Q1 2018
Actual
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 of
1.2648 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

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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
98.4 105.3 123.1
151.2
263.8
260 - 300
>400
0
50
100
150
200
250
300
350
400
2013 2014 2015 2016 2017 2018(F) 2020
FOSTERVILLE GOLD PRODUCTION
(KOZS)
118.0 122.3
155.2
175.2
194.2
215 - 225
>400
0
50
100
150
200
250
300
350
400
2013 2014 2015 2016 2017 2018(F) 5-7
YEARS
MACASSA GOLD PRODUCTION
(KOZS)

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KIRKLAND LAKE, ONTARIO - LOCATION
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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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MACASSA MINERALIZED ZONES
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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/oz
2
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 1.2648
3) 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 Q4PLANNED 2018 STOPE PRODUCTION

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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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MACASSA: CONCENTRATION OF RESERVES IN SOUTH MINE COMPLEX
Notes
CIM 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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MACASSA – SOUTH MINE COMPLEX BY LEVEL
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5025 Level
P+P 129,096 Tonnes @ 12.99 g/t Au
M+I 436,000 Tonnes @ 16.6 g/t Au
5300 Level
P+P 180,894 Tonnes @ 18.15 g/t Au
M+I 219,000 Tonnes @ 22.0 g/t Au
5400 Level
P+P 170,968 Tonnes @ 13.85 g/t Au
M+I 202,000 Tonnes @ 20.2 g/t Au
5600 Level
P+P 845,422 Tonnes @ 22.38 g/t Au
M+I 216,000 Tonnes @ 17.7 g/t Au
5700 Level
P+P 546,266 Tonnes @ 30.53 g/t Au
M+I 125,000 Tonnes @ 23.6 g/t Au
*Drawing not to scale
5800 Level
P+P 224,580 Tonnes @ 28.13 g/t Au
M+I 105,000 Tonnes @ 18.8 g/t Au
6100 Level and Below
P+P 230,696 Tonnes @ 28.11 g/t Au
M+I 107,000 Tonnes @ 17.3 g/t Au
Small reserve/resource base below 6100 Level – remains open to depth and
along strike

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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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#4 SHAFT: MULTIPLE BENEFITS
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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

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#4 SHAFT: SCOPE OF WORK
Shaft – Three Key Components Concrete Headframe & Hoist House
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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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EXPLORATION: FOCUSED ON CONTINUED GROWTH IN RESERVES AND RESOURCES
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KEY EXPLORATION TARGETS
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‘04 East
Zone
SMC
5300 Level SMC Exploration
Near-Mine Exploration
Potential
4500 L ‘05 Break
Exploration

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5300 L EXPLORATION DRIFT KEY TO CONTINUED RESOURCE GROWTH AND CONVERSION
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MACASSA: RECENT DRILL RESULTS SUPPORT FUTURE RESERVE/RESOURCE GROWTH1
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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

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MACASSA: RECENT DRILL RESULTS SUPPORT FUTURE RESERVE/RESOURCE GROWTH1
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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

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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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