May 2017 AGM PRESENTATION. Anthony (Tony) Makuch, President & CEO TIER ONE GOLD PRODUCTION DISTRICT SCALE EXPLORATION VALUATION UPSIDE

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1 TSX: KL OTCQX: KLGDF May 2017 AGM PRESENTATION Anthony (Tony) Makuch, President & CEO TIER ONE GOLD PRODUCTION DISTRICT SCALE EXPLORATION VALUATION UPSIDE 1

2 FORWARD LOOKING STATEMENTS 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 first quarter ended March 31, 2017 and their interim financial reports and related MD&A for the period ended March 31, 2017 filed with the securities regulatory authorities in certain provinces of Canada and available at 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. Use of Non-GAAP Measures Operating cash cost per ounce sold, all-in sustaining costs per ounce sold, average realized gold price per ounce and working capital are Non-GAAP measures. In the gold mining industry, these are common performance measures but do not have any standardized meaning, and are considered Non-GAAP measures. The Company believes that, in addition to conventional measures prepared in accordance with International Financial Reporting Standards ("IFRS" or "GAAP"), certain investors use such Non-GAAP measures to evaluate the Company's performance and ability to generate cash flow. Accordingly, they are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. A reconciliation of operating costs per ounce and AISC per ounce to total operating costs for the most recent reporting period, the three months ended March 31, 2017 and the three months ended March 31, 2016, is set out on the Company's MD&A for the period ended March 31, 2017 filed on SEDAR at and available on the Company s website at

3 2016 FULL YEAR HIGHLIGHTS Transformational Year Completed Acquisition of St Andrew Goldfields Ltd. and Business Combination with Newmarket Gold Inc. resulting in the creation of a mid-tier gold producer Strong Balance Sheet Increased cash and Financial Flexibility: US$234 million 1,2 as at December 31, 2016 providing financial flexibility to manage low debt Decreased Royalties: Royalty rate to Franco-Nevada on gold revenue from Macassa down from 2.5% to 1.5% 1 District Scale Exploratio n Potential Significantly expanded district scale land packages in established gold camps +20 drill rigs in operation across Canada & Australia Strong Value Proposition $4, Price to Cash flow 5.6 Enterprise value to ounce of 2017 production $2,536 KL Gold Peer Average KL Gold Peer Average 1.Refer to Slide 2 Forward Looking Information. 2. See Kirkland Lake Gold News Release dated April 12, 2017 for additional details. 3 Source: Company filings, FactSet and available equity research at April 28, Production and Cash Flow are broker consensus averages exclude Kirkland Lake 3

4 2016 OPERATIONAL HIGHLIGHTS 1 Record Gold Production: Consolidated operations achieved attributable gold production of 314,495 ounces, including 18,657 ounces from operations in Australia for the one month ended December 31, 2016, surpassing previously announced 2016 production guidance. Low Operating Costs and AISC: Total production costs of $198.4 million resulted in operating cost per ounce 2 and AISC per ounce 2 of $571 and $923 respectively; below the lower range of 2016 operating cost guidance of $600 - $650 per ounce and AISC guidance of $1,000 - $1,050 per ounce Consolidated Costs 2016 Pro -forma Production by Mine $1,000 $900 $800 $700 $600 $500 $400 $300 $200 $100 $0 Below guidance of $600 - $650 $571 Operating Cost Per Ounce (US$) Below guidance of $1,000 - $1,050 $923 AISC per Ounce (US$) (1) Full Year 2016 results include the results of Kirkland Lake Gold Inc. ( former Kirkland Lake ) operations for the full year; the results of the Newmarket operations for December 2016, being the period following the completion of the business combination between the former Kirkland Lake and Newmarket; and the results of the St Andrew operations for the period starting on January 26, 2016, being the period following the completion of the acquisition of St Andrew by former Kirkland Lake. (2) Non GAAP Measures Operating cash cost per ounce sold, all-in sustaining costs per ounce sold, average realized gold price per ounce, working capital and free cash flow are Non-GAAP measures. In the gold mining industry, these are common performance measures but do not have any standardized meaning, and are considered Non-GAAP measures. The Company believes that, in addition to conventional measures prepared in accordance with International Financial Reporting Standards ( IFRS or GAAP ), certain investors use such Non-GAAP measures to evaluate the Company s performance and ability to generate cash flow. Accordingly, they are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. 4 A reconciliation of operating cost per ounce and AISC per ounce to total operating costs for the most recent reporting period, the three and twelve months ended December 31, 2016 and the eight months ended December 31, 2015, is set out on the Company s MD&A for the period ended December 31, 2016 filed on SEDAR at and at Please refer to the Forward Looking Statements on page 61.

5 2016 FINANCIAL HIGHLIGHTS 1 Strong Earnings Record Revenue $80.00 $70.00 $60.00 $50.00 $40.00 $30.00 $20.00 $10.00 $0.00 $ $ $ $ $ $ $80.00 $60.00 $40.00 $20.00 $0.00 $42.10 $0.35 per basic share Net Earnings (US millions) Significant Cash F low $ $1.49 per basic share Operating Cash Flow (US millions). $75.30 $0.62 per adjusted basic share Adjusted Net Earnings (US millions) $ $0.88 per basic share Free Cash Flow (US millions) 2 2, 3 $ $ $ $ $ $ $ $ $50.00 $0.00 $ $ $ $ $50.00 $0.00 $ Revenue (US millions) Strong F inancial Position $ Cash Balance (US millions). $92.30 Working Capital (US millions) Based on: Gold sales of 329,489 oz & Average realized price of gold $1,234/ oz 2 Q1/17 Cash Balance Increased by $45 million to $280 million (1) Full Year 2016 results include the results of Kirkland Lake Gold Inc. ( former Kirkland Lake ) operations for the full year; the results of the Newmarket operations for December 2016, being the period following the completion of the business combination between the former Kirkland Lake and Newmarket; and the results of the St Andrew operations for the period starting on January 26, 2016, being the period following the completion of the acquisition of St Andrew by former Kirkland Lake. (2) Non GAAP Measures Operating cash cost per ounce sold, all-in sustaining costs per ounce sold, average realized gold price per ounce, working capital and free cash flow are Non-GAAP measures. In the gold mining industry, these are common performance measures but do not have any standardized meaning, and are considered Non-GAAP measures. The Company believes that, in addition to conventional measures prepared in accordance with International Financial Reporting Standards ( IFRS or GAAP ), certain investors use such Non-GAAP measures to evaluate the Company s performance and ability to generate cash flow. Accordingly, they are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. A reconciliation of operating cost per ounce and AISC per ounce to total operating costs for the most recent reporting period, the three and twelve months ended December 31, 2016 and the eight months ended December 31, 2015, is set out on the Company s MD&A for the period ended 5 December 31, 2016 filed on SEDAR at and at Please refer to the Forward Looking Statements on page 61. (3) Adjusted net earnings (and adjusted basic share) excludes the items that do not reflect the underlying operations of the Company, including the transaction costs associated with the acquisition of Newmarket and the business combination with St Andrew, as well as one time severance costs associated with the transition of Stawell to care and maintenance.

6 NEW KIRKLAND LAKE GOLD INVESTMENT THESIS Operating Platform in Tier 1 Mining Jurisdictions Revised 2017 consolidated production guidance of 530, ,000 1 ounces from five gold mines in Canada & Australia Consolidated Q1/17 production of 130k oz (Macassa 48,723 oz & Fosterville 46,083 oz) 2 Both flagship mines, Fosterville & Macassa continue to benefit from an increasing grade profile at depth 1 Strong Balance Sheet & Low Cost Production Increasing Cash Position US$280 million 4 as at March 31, 2017 New quarterly dividend recently announced C$0.01 per share 5 Revised Consolidated 2017 operating cost guidance US$475/oz US$525/oz and AISC US$850/oz US$900/oz 3 District Scale Exploratio n Potential Significant discovery and expansion potential in established gold camps with +20 drill rigs in operation across Canada & Australia 2017 growth exploration budget of US$45 - $55 million 1.Refer to Slide 2 Forward Looking Information revised 2017 estimated production guidance 530, ,000 ounces. 2. See Kirkland Lake Gold News Release dated May 4, 2017 for additional details. 3. Refer to appendix for NI Disclosure and News Release dated March 28, 2017 for additional year-end 2016 Mineral Reserve and Resource details 3. See Non-GAAP Measures sections in forward looking statements; Operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.35 and a USD to AUD exchange rate of 1.325, for additional detail see Kirkland Lake Gold Press release dated March 29, 2017 for additional detail.4.cash position as at March 31, Payable on July 14, 2017 to shareholders of record on June 30,

7 IMPROVED 2017 GUIDANCE Improved revision to 2017 consolidated outlook results in improved unit costs, reflecting positive performance at the Fosterville Mine and the impact of a production suspension at the Cosmo Mine, effective June 30, CANADIAN OPERATIONS AUSTRALIAN OPERATIONS (U.S.)$ Macassa Mine Holt Mine Taylor Mine Fosterville Mine Cosmo Mine Consolidated Outlook Revised Gold Production (oz) 190, ,000 Revised Operating Costs per Ounce 1,2 $520 $550 65,000 70,000 $670 $725 55,000 60,000 $450 $ , ,000 $310 $330 20,000 $1,500 $1, , ,000 $475 - $525 Revised AISC per Ounce 1,2 $850 - $900 Revised Operating Costs ($ million) $270 - $280 Sustaining Capital & Growth Capital ($ million) $180 - $200 Exploration Expenditure ($ million) $45 - $55 Revised Royalty cost ($ million) $20 - $25 Revised G & A ($ million) $17 1) See Non-GAAP Measures sections in forward looking statements; 2) Operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.35 and a USD to AUD exchange rate of See Kirkland Lake Gold News release dated May

8 OPERATING PLATFORM IN TIER 1 MINING JURISDICTIONS 600, Outlook 550, , , , , , , , , ,000 50,000 On track to meet 2017 guidance of 530, ,000 oz 130,425 oz 350, , , , , Pro Forma G old Production 295,838 oz (Guidance of 270k 290k oz) 239,724 oz (Guidance of 225k 235k oz) Consolidated operating cost per ounce 2 of $571, below the the guidance of US$600- $650 Consolidated AISC per ounce 2 of $923 in 2016 below the guidance of US$1,000-1,050 0 Consolidated Q1/17 Production 100,000 Canadian Operations Australian Operations Pro forma information operating results from: (i) the former Newmarket Gold Inc. ( Newmarket ) assets for the entire 12-month period ended December 31, 2016 including the period from January 1, 2016 to November 29, 2016 prior to the merger with Kirkland Lake Gold Inc. ( KLG ) on November 30, 2016 (See Newmarket Press Release dated November 3, 2016); and (ii) the Holt Mine Complex for the entire 12-month period ended December 31, 2016, including the period of January 1, 2016 to January 25, 2016 prior to the acquisition of St Andrew Goldfields Ltd. ( SAS ) by KLG on January 26, 2016 (See KLG press release dated May 12, 2016). See Press Releases dated January 9, 2017 and February 27, 2017 filed on the SEDAR profile of the Company 8

9 STRONG FINANCIAL POSITION STRONG BALANCE SHEET 1, 2 Cash Convertible Debentures (at Dec 31/16) US$280 million US$89 million KGI.DB: 6% C$15.00 Conv. Price C$56.8M mature June 2017 KGI.DB.A: 7.5% C$13.70 Conv. Price C$62.0M mature Dec 2017 Net Cash INITIATION OF DIVIDEND POLICY Quarterly dividend of C$0.01 per common share US$191 million Payable on July 14, 2017 to shareholders of record on June 30, 2017 CAPITAL STRUCTURE & OWNERSHIP Issued & Outstanding (at Mar 31/17) Market Capitalization (TSX) (April 17, 2017) Daily Avg. Volume 30 day (April 17, 2017) 206 million +CAD$ 2.1 billion 1.2 million shares Insider Ownership ~10% Change in reporting currently to US$ for December 31, 2016 year end financial results No gold hedging in place Fosterville Gold Mine, Australia Macassa Gold Mine, Canada 1 Cash position as at March 31, 2017, see News Release dated April 12, Non-GAAP measures, refer to slide 2 Cautionary Language, Canadian: US Dollar exchange $

10 HIGH GRADE, LOW COST CORNERSTONE ASSETS CORNERSTONE CORNERSTONE ASSETS ASSETS Macassa Mine, Fosterville Mine & Taylor Mine ~ 84% of 2017E production Growth potential with avaliable milling capacity at each mill LOW COST OUNCES LOW COST OUNCES <US$525 Operating Costs and <US$850 AISC 2 (Full Year 2016) DISTRICT SCALE GROWTH DISTRICT SCALE GROWTH Fosterville exploration lease +500 km 2 Macassa exploration lease +40 km km land package along prolific Porcupine Destor Fault Macassa Mine Fosterville Mine Taylor Mine Consolidated P&P Reserve Grade (g/t Au) FY Production (oz) 175, ,755 42,639 > 369,000 Operating Costs (US$/Oz Sold) FY US$527 US$420 3 US$438 < US$525 AISC (US$/Oz Sold) FY US$907 US$641 3 US$711 < US$ Refer to slide 41 for break down by category. 2. Kirkland Lake Gold guidance provided on January 9, 2017, refers to high end range of guidance 3. See Non-GAAP Measures sections in forward looking statements; Operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.35 and a USD to AUD exchange rate of 1.325, Full Year 2016 Operating Costs and All-In Sustaining Costs as reported March 29,

11 Gold Grade (g/t) Gold Production (oz) MACASSA: KEY VALUATION DRIVER ,318 55, ,723 50, , ,866 45, , ,000 35,000 The Macassa Mine is a high-grade gold mine, with grade improving at depth, located in Kirkland Lake, Ontario 10 Q1-16 Q2-16 Q3-16 Q4-16 Q ,000 Production Costs US$/oz 2,3 AISC OCC MINERAL RESOURCE & RESERVES (Dec 31, 2016) 1 Proven and Probable Mineral Reserves increased by 37% to 2.01 million ounces of gold at an average grade of 20.8 g/t gold (3.0 Mt). Measured and Indicated Mineral Resources are exclusive of Mineral Reserves contain 1.32 million ounces grading 16.6 g/t gold (2.24 Mt). Extensive surface and underground drilling underway. $1,003 $959 $834 $782 $644 $546 $514 $421 Q Q Q Q Refer to appendix for NI disclosure 2. SY refers to Stub Year 2015 referencing April 30, 2015 to December months 3. See Kirkland Lake News Release dated May 4, 2017 and Q MD&A for additional detail reporting Q operating and AISC results 11

12 PLAN VIEW OF PROJECT AREA KIRKLAND LAKE GOLD CAMP SMC South Mine Complex Gold Deposit The Kirkland Lake gold camp has been in production for years One of the highest grade gold camps in the world Almost 25 Moz s has been produced to date, from seven mines Kirkland Lake Gold owns five former producing high grade mines with historical production of ~22 Moz s of gold Average head grade of 15.1 g/t 12

13 REGIONAL EXPLORATION ACROSS A PROLIFIC TREND Significant expansion potential down dip, along strike Previously released surface exploration results to the east returned values of 29.5 g/t gold over 0.3m (AB-15-92) and 28.1 g/t gold over 0.6m (AB ) Recent Highlight results along the easterly strike of the SMC include: g/t gold over 3.8 metres, g/t gold over 3.2 metres and g/t gold over 1.6 metres See News Releases dated January 19, 2016 and November 7, 2016 filed on the sedar profile of Kirkland Lake Gold Ltd on 13

14 Gold Grade (g/t) Gold Production (oz) FOSTERVILLE GOLD MINE: LOW COST PRODUCER , ,406 46, , , ,245 36, ,000 35,000 30, ,000 The Fosterville Gold Mine is the largest gold producer in the state of Victoria, Australia 4.0 Q1-16 Q2-16 Q3-16 Q4-16 Q ,000 Production Costs US$/oz 2 AISC OCC MINERAL RESOURCE & RESERVES (Dec 31, 2016) 1 Total Proven and Probable Mineral Reserves increased 66% to 643,000 ounces of gold at an average grade of 9.2 g/t Au (2.17 Mt). Measured & Indicated Mineral Resource 3 grade increased 23% grading 5.7 g/t Au to 2,790,000 ounces of gold (15.3 Mt). Resources are inclusive of Reserves The Lower Phoenix gold system has been traced by development and drilling for over 2 km and remains open for further expansion. $741 $765 $641 $571 $440 $471 $420 $354 Q2 16 Q3 16 Q4 16 Q Refer to appendix for NI disclosure. 2.See Kirkland Lake Press release dated May 4, 2017 and Q MD&A for additional detail, costs presented for Q4 16 only represent the one month since the transaction with Newmarket Gold ending December 31, 2016 reporting Q operating and AISC see slide 2 forward looking information regarding non gap measures. 3. Resources are inclusive of Reserves refer to slide

15 FOSTERVILLE GOLD MINE: DRILLING SUCCESS 22.1 g/t Au over 3.3m First recorded visible gold from Harrier Harrier Harrier Decline 12.5 g/t Au over 2.4m 16.6 g/t Au over 3.05m g/t Au over 3.4m g/t Au over 3.6m 46.2 g/t Au over 6.6m (VG) 129 g/t Au over 6.2m (VG) Drill Targets g/t Au over 4.3m (VG) 6.2 g/t Au over 1.9m 4.4 g/t Au over 6.1m g/t Au over 4.5m Harrier Drill Drive 73.2 g/t Au over 7.8m 386 g/t Au over 3.4m 16.4 g/t Au over 16.5m 75.7 g/t Au over 5.4m 194 g/t Au over 3.1m 550 g/t Au over 3.5m 13.4 g/t Au over 3.8m 645 g/t Au over 3.4m Lower Phoenix 11.1 g/t Au over 4.9m 12.8 g/t Au over 8.5m 501 g/t Au over 4.5m 283 g/t Au over 2.8m 112 g/t Au over 11.9m 1,429 g/t Au over 4.97m 7.3 g/t Au over 13.9m 9.2 g/t Au over 11.8m 6.5 g/t Au over 25m 9.3 g/t Au over 3.3m Consistently intersecting high-grade gold in multiple zones: Harrier, Lower Phoenix, Lower Phoenix South and Lower Phoenix North with grade increasing at depth on all zones Key intercepts Lower Phoenix South & North: g/t gold over 4.5m, 13.4g/t gold over 3.8m, 12.5 g/t gold over 2.4m, & 7.3 g/t gold over 13.9m High-Grade Visible Gold (VG) intercepts at Harrier Gold Zone; 64.8 g/t gold over 4.3m, 46.2 g/t gold over 6.6m Record high-grade drill intercept on the Lower Phoenix foot wall announced Jan 17, 2017 including 1,429 g/t gold over 4.97m Mineral Resources, Reserves and mining as at December 31, 2016 All intercepts presented are estimated true width 15

16 FOSTERVILLE GOLD MINE: DISTRICT SCALE POTENTIAL BLOCK A Current Mining Front Phoenix BLOCK D Harrier Drill Drive BLOCK C Lower Phoenix = Visible gold elevation depth, increasing with depth BLOCK B Fosterville underground Reserve of 490,000 ounces at 9.8 g/t Au (1,560,000 tonnes) with Measured and Indicated resources from the high grade Phoenix and Lower Phoenix where Fosterville is currently being mined of of 1.08 million ounces grading 10.1 g/t Au (3,310,000 tonnes) as of Dec With additional drilling success blocks A,B,C and D are targeted to add +5 years of additional mine life on top of current reserves and resources (Block B drilling underway testing 1000 metres down plunge from current resources/reserves) Mill Capacity +850k tpa, currently at ~700k tpa. opportunity to open additional mining fronts (three total) in Block A and Block D Additionally there are over 20 kilometers of potential gold bearing structures on the 505km 2 Fosterville property highlighting the exceptional potential of this district 1. Refer to slide 2 forward looking Cautionary Language 2. Refer to the appendix NI Disclosure 16

17 FOSTERVILLE REGIONAL POTENTIAL Mining lease (MIN5404:~17km 2 ) contains ~10km strike length of Mineral Resources with ~7km on Fosterville Fault Line and ~3km on the O Dwyer s Fault Line million ounces M&I resources at 10.1 g/t gold 1, current mining zones of Phoenix, Lower Phoenix * Fosterville mill Surrounding exploration leases encompass ~505km 2 and contain ~20km of potential gold-bearing structures along 7 interpreted fault lines. 5 of the 7 lines contain known gold occurrences with historic resources and/or historic workings. The processing plant is located within 30km of prospective targets. Limited exploration work on surrounding exploration lease The 2017 exploration program includes planned drilling for the Sugarloaf Line (SW of operation), soil sampling in northern part of exploration lease and 2D seismic lines over northern and southern ends of mining lease. District scale potential within a well known camp of multimillion ounce gold deposits * Refer to appendix NI technical disclosure, technical reports filed on sedar March 30, 2017 and Year-end 2016 Resource and Reserve News release filed March 28,

18 FOCUSED ON INCREASING SHAREHOLDER VALUE Since January 2017 Increased consolidated gold production guidance range to 530, ,000 oz Decreased consolidated operating cash cost per ounce sold 1,2 to US$475 - $525 and All-In Sustaining Cost per ounce sold to US$850 - $900 1,2 Added US$45 million cash to the balance sheet (US$37 million in free cash flow) 3 Announced a dividend policy Rationalized the business with a focus on high-quality gold production ensuring sustainable gold production with meaningful profit margins 1) See Non-GAAP Measures sections in forward looking statements; 2) Operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.35 and a USD to AUD exchange rate of Prior Foreign exchange guidance on Operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of See Non-GAAP Measures sections in forward looking statements 18

19 FOCUSED EXECUTION & VALUE CREATION Kirkland Lake Gold is focused on maintaining positive and growing free cash flow margins while keeping a disciplined approach to capital allocation to ensure profitable sustainable gold production Low cost, Robust Margins Strong free cash flow generation and committed leadership team to deliver targets Diversified Production Revised 2017E Guiadance of 530, ,000 oz in Tier 1 Mining Jurisdictions DELIVER SUPERIOR SHAREHOLDER VALUE Strong Balance Sheet Cash balance of US$280 million at March 31, 2017 District Scale Exploration Potential High quality projects with significant exploration upside 19

20 TSX: KL APPENDIX Notes, additional disclosure and other information

21 VALUE PROPOSTION P / NAV 1 EV / 2017E Production 1 Price / 2017E Cash Flow 1 Regis 1.23x Guyana $4,876 Alamos 13.0x OceanaGold 1.22x Alamos $4,802 Guyana 10.4x Northern Star 1.04x Torex $4,628 Richmont 9.0x Kirkland Lake 1.02x Detour $4,271 Detour 8.6x New Gold 1.01x Richmont $3,943 Klondex 8.3x Klondex 0.98x Regis $3,557 Regis 7.7x Guyana 0.97x New Gold $3,506 Torex 7.6x Richmont 0.93x OceanaGold $3,462 Northern Star 6.9x Torex 0.90x Northern Star $3,416 New Gold 5.8x Alamos 0.89x Klondex $2,997 Kirkland Lake 5.6x Detour 0.83x Kirkland Lake $2,536 OceanaGold 5.0x Peer Avg. 1.00x Peer Avg. US$3,946/oz Peer Avg. 8.2x Source: Company filings, FactSet, Bloomberg, and available equity research, market data as of April 28, NAV, Production, and Cash Flow based on broker consensus; Averages exclude Kirkland Lake 21

22 ANALYST COVERAGE (Jan 2017) Broker Initiation Date Target Price (C$) Target Rating FY17E Production Oz (000 s) FY17E Cash Costs (US$) FY17E AISC (US$) CIBC Dec 16 $12.50 outperform 505 $570 $920 NAV (C$M) Scotia - $11.50 outperform 509 $625 $895 $1,323 GMP Oct 15 $14.50 buy 509 $637 $960 - Macquarie Dec 16 $14.00 outperform 454 $ $US836 RBC Capital Dec 16 $13.00 outperform 561 $597 $934 $1,169 PI Financial Jan 16 $12.50 buy 515 $585 $892 National Bank Dec 16 $12.50 Outperform 510 $741 1,087 M Partners Dec 16 $12.50 buy 500 $680 S1,001 BMO - $12.75 market Perform 502 $580 $926 Average $ Day Avg Volume 1,200,000 (as of April 18, 2017) Firm Anonymous GMP Barclays CIBC Merrill TD RBC ITG Instinet Shares Traded 9.6 million 4.9 million 4.6 million 4.5 million 2.7 million 2.4 million 2.2 million 1.6 million 1.3 million Opinions estimates or forecasts regarding Kirkland Lake Gold performance made by these analysts are theirs alone and do not represent the opinions estimates or forecasts of the Company or its management. 22

23 BOARD AND SENIOR MANAGEMENT Board of Directors Eric Sprott Anthony Makuch Barry Olson Pamela Klessig Jeffrey Parr Raymond Threlkeld Jonathan Gill Arnold Klassen Chairman of the Board President & CEO Independent Independent Independent Independent Independent Independent Senior Management Team Anthony Makuch Darren Hall Philip Yee Alasdair Federico President & Chief Executive Officer Chief Operating Officer Chief Financial Officer EVP Corporate Affairs and CSR 23

24 CANADIAN OPERATIONS QUARTERLY OPERATING RESULTS Q1/17 Canadian Operating Results Tonnes Milled Grade (g/t Au) Recovery (%) Production (oz) MACASSA MINE 91, ,723 HOLT MINE 105, ,318 TAYLOR MINE 63, ,942 HOLLOWAY MINE 2 2, CONSOLIDATED PRODUCTION 75,250 Q4/16 Canadian Operating Results Tonnes Milled Grade (g/t Au) Recovery (%) Production (oz) MACASSA MINE COMPLEX 1 102, ,318 HOLT MINE 113, ,761 HOLLOWAY MINE 65, ,825 TAYLOR MINE 48, ,048 CONSOLIDATED PRODUCTION 87,952 1.Pro forma information operating results from: (i) the former Newmarket Gold Inc. ( Newmarket ) assets for the entire 12-month period ended December 31, 2016 including the period from January 1, 2016 to November 29, 2016 prior to the merger with Kirkland Lake Gold Inc. ( KLG ) on November 30, 2016KLG (See Newmarket Press Release dated November 3, 2016); and (ii) the Holt Mine Complex for the entire 12-month period ended December 31, 2016, including the period of January 1, 2016 to January 25, 2016 prior to the acquisition of St Andrew Goldfields Ltd. ( SAS ) by KLG on January 26, 2016 (See News Release dated May 12, 2016). See News Release dated January 9, 2017 filed on the SEDAR profile of the Company at 2. In December 2016, Kirkland Lake Gold announced the transitioning of the Holloway Gold Mine to a temporary suspension of operations. The Holloway Mine will be maintained in a production ready state with the intent of restarting the operation in the future with meaningful and enhanced economics and pending successful exploration programs being completed (See News Release dated December 12, 2016). 24

25 AUSTRALIAN OPERATIONS QUARTERLY OPERATING RESULTS Q1/17 Australian Operating Results Tonnes Milled Grade (g/t Au) Recovery (%) Production (ozs) FOSTERVILLE GOLD MINE 137, ,083 COSMO GOLD MINE 120, ,092 CONSOLIDATED PRODUCTION 55,175 Q4/16 Australian Operating Results Tonnes Milled Grade (g/t Au) Recovery (%) Production (ozs) FOSTERVILLE GOLD MINE 176, ,406 COSMO GOLD MINE 157, ,307 STAWELL GOLD MINE 2 172, ,971 CONSOLIDATED PRODUCTION 64,684 1.Pro forma information operating results from: (i) the former Newmarket Gold Inc. ( Newmarket ) assets for the entire 12-month period ended December 31, 2016 including the period from January 1, 2016 to November 29, 2016 prior to the merger with Kirkland Lake Gold Inc. ( KLG ) on November 30, 2016 (See Newmarket Press Release dated November 3, 2016); and (ii) the Holt Mine Complex for the entire 12-month period ended December 31, 2016, including the period of January 1, 2016 to January 25, 2016 prior to the acquisition of St Andrew Goldfields Ltd. ( SAS ) by KLG on January 26, 2016 (See News release dated May 12, 2016). 2. The Company officially transitioned the Stawell Gold Mines into care and maintenance and in a state of operational readiness to possibly recommence operations with activities focused on exploration programs within the Aurora B discovery (See News Release dated December 12, 2016). 25

26 CONSOLIDATED FINANCIAL HIGHLIGHTS FOR 2016 Q4 & YEAR END 1 (In thousands of dollars, except per share amounts) THREE MONTHS ENDED DECEMBER 31, 2016 TWO MONTHS ENDED DECEMBER 31, 2015 YEAR ENDED DECEMBER 31, 2016 EIGHT MONTHS ENDED DECEMBER 2015 Revenue $134,225 $27,860 $406,664 $115,796 Production costs $66,152 $15,399 $198,369 $64,730 Net earnings before taxes $11,194 $1,888 $73,263 $12,802 Net earnings $3,076 $609 $42,107 $5,731 Earnings per share basic $0.02 $0.01 $0.35 $0.07 Earnings per share diluted $0.02 $0.01 $0.34 $0.07 Cash flow from operations $65,014 $11,388 $180,928 $39,358 Cash investment on mine development & PPE $23,885 $5,178 $73,694 $26,258 Adjusted net earnings $27,909 $609 $75,282 $5,731 Adjusted net earnings per share $0.19 $0.01 $0.62 $0.07 CONSOLIDATED KEY PERFORMANCE MEASURES THREE MONTHS ENDED DECEMBER 31, 2016 TWO MONTHS ENDED DECEMBER 31, 2015 YEAR ENDED DECEMBER 31, 2016 EIGHT MONTHS ENDED DECEMBER 2015 Tonnes milled 469,968 62,158 1,304, ,729 Grade (g/t Au) Recovery (%) Gold produced (oz) 106,609 27, , ,597 Gold sold (oz) 111,690 25, , ,094 Average realized price ($/ oz sold) $1,202 $1,102 $1,234 $1,145 Operating cash cost per ounce ($/ oz sold) $533 $604 $571 $638 AISC ($/ oz sold) $883 $1,006 $923 $ Refer to slide 2 forward looking and Non IFRS Disclosure, operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28 and the Management Discussion & Analysis and Financial Statements as at December 31, 2016 available on the companies website and on under the companies profile 26

27 DIVERSE ASSET PORTFOLIO Macassa: Cornerstone, high-grade operation (reserve grade of 20.8 g/t) Fosterville: Flagship operation continuing to demonstrate record production and record grades Taylor: Exciting newly-built mine with exploration upside to drive future growth Holt: Sustainable and profitable production Cosmo: New near mine discoveries support improved operations Strong Pipeline of Growth Projects Holt Mine Complex (Zone 7): Planned production in 2018 will provide >25kozs per year to the Holt Mine production profile Hislop Mine: Potential development asset (shallow open pit opportunity proximal to mill) Maud Creek: PEA-stage project planned to produce an average of ~50koz Au/year leveraging excess capacity at the 100% owned Union Reefs mill Big Hill: Low-cost, shallow oxide open pit opportunity within existing Stawell mining lease Significant Exploration Potential Kirkland Lake Camp: Drilling to test the extension of the SMC and the historic 04/Main break at depth Porcupine-Destor Fault : Focus to increase mine-life, as well as drill testing a 120km strike length of prospective ground for new discoveries Victoria: New high-grade discovery at Fosterville, active drilling on Aurora B discovery at Stawell Northern Territory: New discoveries at Cosmo including Redbelly & Taipan Lode, with continued exploration success at Sliver Lode Refer to Reserve and Resource Statements in Appendix of this presentation. Refer to Slide 31 NI Disclosure. 27

28 MACASSA MINE OVERVIEW 1,000tpd underground operation 70% of ore tonnes derived from the higher grade South Mine Complex, and 30% from the 04 Break mineralization Mining to depths of 5400 feet below surface 2,000tpd processing capacity (50% unused) Conventional CIP milling facility with 4 available mills grinding to 40 to 45 micron Recoveries averaging over 95% Opportunities being reviewed to increase production and reduce costs. Gold Production (oz) 175, , ,226 1 CY , , ,000 80,000 30,000 Prior to 2016 the Company s year end was May 1 to April 30 #3 Shaft #2 Shaft F2014A F2015A 2016A Cash Costs (US$/oz) $812 $625 $527 AISC (US$/oz) $1,141 $803 $902 Updated Mineral Reserves & Resources (Dec. 31, 2016) Proven and Probable Mineral Reserves increased by 37% to 2.01 million ounces of gold at an average grade of 20.8 g/t gold. Measured and Indicated Mineral Resources are exclusive of Mineral Reserves contain 1.32 million ounces grading 16.6 g/t gold. Resources are exclusive of Reserves. Refer to Reserve and Resource Statements Slide 31 NI Disclosure. Refer to Slide 2 Use of Non-GAAP Measures. 1 Adjusted to reflect calendar-year production and grade. 28

29 MACASSA CROSS SECTION LOOKING EAST SELECTED HIGHLIGHTS AB gpt/ 0.3 metres 0.34 opt/ 1.0 feet AB ,241.4 gpt/ 0.7 metres opt/ 2.3 feet 11.7 gpt/ 0.3 metres 0.34 opt/ 1.0 feet AB gpt/ 0.5 metres 0.36 opt/ 1.7 feet AB gpt/ 0.9 metres opt/ 2.8 feet including 1,783.2 gpt/ 0.3 metres opt/ 1.0 feet And 89.5 gpt/ 0.3 metres 2.61 opt/ 1.0 feet See press release dated November 3, 2015, as filed on SEDAR 29

30 SOUTH MINE COMPLEX (SMC) UNDERGROUND DRILLING Plan View showing 5300 Level infrastructure testing the easterly strike extension of the SMC 30

31 SMC DRILLING ON THE HM CLAIM 31

32 04 MAIN BREAK UNDERGROUND DRILLING Long Section View Looking North 3000 Level 32

33 Holt-Holloway Exploration Targets Holloway West (Harker) Holloway Property Holt Property Lightval 33

34 HOLT MINE COMPLEX Gold Production (oz) 90, , , A 2015A 2016A Two producing mines contribute ~1,900 tpd Holt ~1,300tpd Taylor ~ 550tpd 3,000tpd processing capacity (30% unused) Conventional CIL milling facility 3 mill grinding circuit 2017 exploration is focused on increasing the level of resources and reserves to boost mine life Mine Overview Stats A 2015A 2016A Gold Production (oz) 90, , ,671 Gold Grade (g/t) Cash Costs (US$/oz) $851 $698 $527 AISC (US$/oz) $1,072 $942 $ Refer to appendix for NI Disclosure, 2. See Non-GAAP Measures sections in forward looking statements; Operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of

35 HOLT EXPLORATION TARGETS Tousignant Deposit TOUSIGNANT TARGET Cascade Deposit Longsection looking North at Holt Mine Surface Mattawasaga Pits ZONE 4 TARGET Zone 7 Target 435m Level Zone 7 2 surface drills targeting Tousignant West and Cascade Deposit Zone 4 West Extension Zone 4 925m Level 1075m Level Zone 6 Current drift development 3 km 2 km 1 km 500 m 0 1 km 1.5 km Surface Longsection looking North at Holloway Mine HOLLOWAY NORTH TARGET BLACKTOP TARGET (west extension) Shaft Bottom (867m) LIGHTNING DEEP TARGET (down plunge) DEEP THUNDER TARGET (along strike) 1. Refer to appendix for NI Disclosure 500 m 1 km 3 km 35

36 COSMO GOLD MINE OVERVIEW To be placed on temporary care and maintenance June 30, 2017 Located in the Northern Territory which also hosts additional camps including Union Reefs, Maud Creek, and Howley ~800ktpa underground operation with decline access employing primarily Avoca mining method Mill located at Union Reefs, 67km away from Cosmo, has 2.0Mtpa processing capacity (60% unused) and conventional circuit 3 stage crush, 2 stage ball, gravity and CIL, with regional toll milling opportunities Highlights and Key Drill Intercepts from the Newly Discovered Lantern Gold Deposit near existing underground infrastructure: 119 g/t Au (1) over 4.5m (ETW 4.0m), including 521 g/t Au (1) over 1.0m (ETW 0.9m) in hole CW g/t Au (1) over 11.1m (ETW 7.0m), including 29.7 g/t Au (1) over 5.2m (ETW 3.1m),and g/t Au over 5.4m (ETW 2.9m), including 125 g/t Au (1) (2) over 0.8m (ETW 0.4m) in hole CW g/t Au (1) over 22.75m (ETW 11.3m) in hole CW (2) 4.23 g/t Au over 16.6m (ETW 9.8m) in hole CW ,740 Gold Production (oz) Gold Production (oz) 63,255 55, A 2015A 2016A Mine Overview Stats 2014A (3) 2015A (3) 2016A 77,740 63,255 55,765 Gold Grade (g/t) Recovery (%) Cash Costs (US$/oz) (4) $1,000 $917 $1,048 AISC (US$/oz) (4) $1,263 $1,154 1,173 ETW - Estimated True Width 9.64 g/t Au (1) over 6.0m (ETW 3.85m) in hole CW (1) Visible gold present in drill intercept (2) Previously reported intercept - See News Release dated July 22, 2015 (3) Operating results from previous owners (4) 2016 operating costs and AISC refer to the one month ended December 31, 2016 following the completion of the business combination with Newmarket Gold. 36

37 COSMO MINE: NEW LANTERN DEPOSIT Note: For further information on drill results see News Release dated March 6, 2017 at 37

38 MAUD CREEK PROJECT OVERVIEW Base Case Highlights Utilizing Union Reefs Mill Based on May 2016 Amended PEA using US$1,200/oz (AUD$1,550) gold price and AUD:USD 0.77 Pre-Tax NPV5% US$155 million Union Reefs Mill has 1.2Mt of excess capacity to treat additional ore and is located 67km from Cosmo and 144km from Maud Creek IRR (Pre-tax) 116% After-Tax NPV5% US$105 million Internal Rate of Return (After-tax) 80% Pay Back Pre-Production Capital Cost Mine Life Diluted Gold Grade 1.25 years US$32 million 9.5 years 4.2 g/t gold Gold Recovery (Oxide/Transitional) 85% Gold Recovery (sulphide) 95% LOM Recovered Gold Average Annual Production LOM Cash Operating Cost 496,000 ounces 52,000 ounces US$632 The PEA is preliminary in nature and is based on a number of assumptions that may be changed in the future as additional information becomes available. The PEA includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. The Maud Creek Gold Project PEA Technical Report is available on Sedar and and was compiled by Peter Fairfield, Principal Consultant (Project Evaluation), BEng (Mining), FAusIMM CP (Mining) of SRK Consulting (Australasia) Pty Ltd. By virtue of his education, membership to a recognized professional association and relevant work experience, Peter Fairfield is an independent "Qualified Person" as such term is defined in NI Mineral resources that are not mineral reserves do not have demonstrated economic viability. For full details please see press release dated May 16, Refer to Slide 2 Forward Looking Information. 38

39 STAWELL GOLD MINE Gold Production (oz) Q Stawell Gold Mines put on Care and Maintenance Underground operation with decline access employing open stoping with either CRF or combinations of CRF and rock fill or all rock fill with pillars 1.0 Mtpa processing capacity; conventional crush-grind followed by sulphide flotation and CIL Open Pit, Big Hill P&P Reserves of 132 koz at 1.59 g/t Au, M&I of 166 koz at 1.52 g/t and Inferred Resources of 2 koz at 1.15 g/t 2016 Drill Campaign has 2 drills active on the East Flank (mining traditionally focused on West Flank with 2.3 Moz of past production): Aurora B discovery on East Flank with maiden resource of 30,400oz at 3.5 g/t Intercepts include 13.7 g/t over 5.4m Big Hill Gold Project is a low cost, shallow oxide open pit opportunity adjacent to Stawell Currently awaiting permitting process Gold Production (oz) Gold Grade (g/t) Recovery (%) Cash Costs (US$/oz) AISC (US$/oz) 39,230 36,321 32, A 2015A YTD2016A Mine Overview Stats 2014A 2015A YTD2016A Q FY ,230 36,321 25,233 6,971 32, $1,151 $917 $1,222 $1,973 $1,973 $1,193 $1,063 $1,345 $2,025 $2, operating costs and AISC refer to the one month ended December 31, 2016 following the completion of the business combination with Newmarket Gold. 39

40 STAWELL GOLD MINE AURORA B GOLD ZONE Maiden Inferred Mineral Resource of 30,400 ounces grading 3.5g/t gold. Traditionally mined West Flank total production to date 2.3 million ounces Magdala Aurora B located approximately 500m above Aurora A Two diamond drill rigs active on the east flank East Flank Target Aurora A 13.7 g/t gold over 5.4 m 40

41 APPENDIX: CONSOLIDATED MINERAL RESERVES BY ASSET AS OF DEC 31, 2016 Tonnes (000 s) PROVEN PROBABLE PROVEN & PROBABLE Gold Grade (g/t ) Gold Ounces Tonnes (000 s) Gold Grade (g/t ) Gold Ounces Tonnes (000 s) Gold Grade (g/t ) Macassa , ,670 3, ,010 Taylor Holt 1, , , Holloway Hislop Total Canadian Assets 2, , ,220 7, ,750 Gold Ounces Fosterville , , Northern Territory , , Stawell , , Total Australian Assets , , Total Reserves 3, , ,940 15, ,700 Notes CIM definitions (2014) were followed in the calculation of Mineral Reserves Mineral Reserves were estimated using a long-term gold price of US$1,200/oz (C$1,500/oz; A$1,500/oz) 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. Cut-off grades for Australian Assets from 0.4 g/t Au to 3.1 g/t Au, depending upon width, mining method and ground conditions; Dilution and mining recovery factors varied by property Mineral Reserves estimates for the Canadian Assets were prepared under the supervision of P. Rocque, P. Eng. Mineral Reserves estimates for the Fosterville property were prepared under the supervision of Ion Hann, FAusIMM. Fosterville CIL Residues are stated as Proven contained ounces. Mill recovery of 25% are planned, based on operating performance. Mineral Reserves estimates for the Northern Territory property were prepared under the supervision of Jason Keily, FAusIMM (CP). Mineral Reserves estimates for the Stawell property were prepared under the supervision of Ian Holland, FAusIMM. Totals may not add exactly due to rounding 41

42 APPENDIX: CANADIAN ASSETS MINERAL RESOURCES AS OF DEC 31, 2016 Tonnes (000 s) MEASURED INDICATED MEASURED & INDICATED INFERRED Gold Grade (g/t) Gold Ounces Tonnes (000 s) Gold Grade (g/t) Gold Ounces Tonnes (000 s) Gold Grade (g/t) Gold Ounces Tonnes (000 s) Gold Grade (g/t) Gold Ounces Macassa , , ,320 1, Taylor , , , Holt 3, , , , ,320 Holloway , , , Hislop , , Aquarius , , Canamax Ludgate , Totals 5, ,120 32, ,040 37, ,160 17, ,300 Notes 1) CIMM definitions (2014) were followed in the calculation of Mineral Resource 2) Mineral Resources are reported Exclusive of Mineral Reserves 3) Mineral Resource estimates were prepared under the supervision of D. Cater, P. Geo. Vice President Exploration Canada 4) Canadian Assets consist of Macassa, Holt, Taylor, Holloway, Canamax, Ludgate, Hislop, Aquarius 5) Mineral Resources are estimated using a long-term gold price of US$1,200/oz (C$1,500/oz) 6) Mineral Resources were estimated using a 8.57 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 and Ludgate, a 2.2 g/t cut-off grade for Hislop and 0 g/t cut-off grade for Aquarius 7) Totals may not add up due to rounding 42

43 APPENDIX: AUSTRALIAN ASSETS MINERAL RESOURCES AS OF DEC 31, 2016 Tonnes (000 s) MEASURED INDICATED MEASURED & INDICATED INFERRED Gold Grade (g/t) Gold Ounces Tonnes (000 s) Gold Grade (g/t) Gold Ounces Tonnes (000 s) Gold Grade (g/t) Gold Ounces Tonnes (000 s) Fosterville 2, , ,360 15, ,790 5, Northern Territory 2, , ,840 30, ,180 15, ,110 Stawell , , , Gold Grade (g/t) Gold Ounces Totals 5, , ,440 49, ,220 21, ,000 Notes 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$1,200/oz (A$1,500/oz) 3) Mineral Resources for the Australian assets are reported Inclusive of Mineral Reserves. 4) Mineral Resources at Fosterville were estimated using cut-off grades of 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) Carbon-In-Leach Residues at Fosterville is stated as contained ounces 25% recovery is expected based on operating performances. 6) Mineral Resources in the Northern Territory were estimated using a cut-off grade of 0.5 g/t Au for potentially open-pitable mineralization and cut-offs of 1.5 to 2.0g/t Au for underground mineralization. 7) Mineral Resources at the Stawell property were estimated using a 0.35g/t Au cut-off grade for potentially open-pitable mineralization and a range of cut-offs (2.0 to 2.3 g/t Au) for underground mineralization. 8) Mineral Resource estimates for the Fosterville property were prepared under the supervision of Troy Fuller, MAIG. 9) Mineral Resource estimates for the Northern Territory properties, excluding the Maud Creek Deposit, were prepared under the supervision of Mark Edwards, FAusIMM (CP). 10) Mineral Resource estimates for the Maud Creek property in the Northern Territory, was prepared by Danny Kentwell, FAusIMM. 11) Mineral Resource estimates for the Stawell property were prepared under the supervision of John Winterbottom, MAIG. 12) Totals may not add up due to rounding. 43

44 APPENDIX: NON-IFRS AND ADDITIONAL INFORMATION Non GAAP Measures Operating cash cost per ounce sold, all-in sustaining costs per ounce sold, average realized gold price per ounce and working capital are Non-GAAP measures. In the gold mining industry, these are common performance measures but do not have any standardized meaning, and are considered Non-GAAP measures. The Company believes that, in addition to conventional measures prepared in accordance with International Financial Reporting Standards ("IFRS" or "GAAP"), certain investors use such Non-GAAP measures to evaluate the Company's performance and ability to generate cash flow. Accordingly, they are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. A reconciliation of operating cost per ounce and AISC per ounce to total operating costs for the most recent reporting period, the three and twelve months ended December 31, 2016 and the eight months ended December 31, 2015, is set out on the Company's MD&A for the period ended December 31, 2016 filed on SEDAR at and at Operating Cash Cost per Ounce Sold ( OCC ) Operating cash costs include mine site operating costs such as mining, processing and administration, but exclude royalty expenses, depreciation and depletion, share based payment expenses and reclamation costs. Operating cost per ounce is based on ounces sold and is calculated by dividing operating cash costs by gold ounces sold. All-In Sustaining Costs per Ounce Sold ( AISC ) While there is no standardized meaning across the industry for this measure, the Company's definition conforms to the definition of all-in sustaining costs as set out by the World Gold Council in its guidance note dated June 27, The Company defines AISC as the sum of operating cash costs, royalty expenses, sustaining capital, corporate expenses, sustaining exploration expenses, and reclamation cost accretion related to current operations. Corporate expenses include general and administrative expenses, net of transaction related costs, severance expenses for management changes and interest income and certain other income. AISC excludes growth capital, reclamation cost accretion not related to current operations, interest expense, debt repayment and taxes. The costs included in the calculation of all-in sustaining costs are divided by gold ounces sold. Average Realized Price per Ounce Sold Average realized price per ounce sold is a Non-GAAP measure. In the gold mining industry, average realized price per ounce sold is a common performance measures but does not have any standardized meaning. The most directly comparable measure prepared in accordance with GAAP is revenue from gold sales. Average realized price per ounce sold should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. The measure is intended to assist readers in evaluating the total revenues realized in a period from current operations. Free Cash Flow and Free Cash Flow per share In the gold mining industry, free cash flow and free cash per share are common performance measures with no standardized meaning. Free cash flow is calculated by deducting capital cash spending (capital expenditures for the period, net of expenditures paid through finance leases) from cash flows from operations; free cash flow per share is calculated by dividing free cash flow for the period by the weighted average number of outstanding shares for that period. The Company discloses free cash flow and free cash flow per share as it believes the measures provide valuable assistance to investors and analysts in evaluating the Company s ability to generate cash flow. The most directly comparable measure prepared in accordance with GAAP is cash flows generated from operations. Adjusted Net Earnings (Loss) and Adjusted Net Earnings (Loss) per Share Adjusted net earnings (loss) and adjusted net earnings (loss) per share are used by management and investors to measure the underlying operating performance of the Company. Presenting these measures from period to period helps management and investors evaluate earnings trends more readily in comparison with results from prior periods. Adjusted net earnings (loss) is defined as net earnings (loss) adjusted to exclude specific items that are significant, but not reflective of the underlying operations of the Company, including transaction costs, executive severance payments, and severance costs associated with transitioning the Stawell Gold Mine and Holloway Mine to care and maintenance. Adjusted basic net earnings (loss) per share is calculated using the weighted average number of shares outstanding under the basic method of loss per share as determined under IFRS. Working Capital In the gold mining industry, working capital is a common performance measures but does not have any standardized meaning. The most directly comparable measure prepared in accordance with GAAP is current assets and current liabilities. Working capital is calculated by deducting current liabilities from current assets. Working capital should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. The measure is intended to assist readers in evaluating Company s liquidity. EBITDA As a performance measure, EBITDA is an indicator of the Company s ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations and fund capital expenditures. EBITDA is calculated as Earnings Before Tax plus interest expense plus depreciation and amortization expense. EBITDA gauges a Company s operating profitability, meaning earnings it generates in the normal course of doing business, without capital expenditures and financing costs. Qualified Persons Pierre Rocque, P.Eng., Vice President, Technical Services is a qualified person as defined in National Instrument and has reviewed and approved the scientific and technical information in this Presentation. 44

45 NI DISCLOSURE 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 of Mining, Metallurgy and Petroleum and National Instrument Standards of Disclosure for Mineral Projects ( NI ) and were prepared, reviewed, verified and compiled by Kirkland Lake Gold s mining staff under the supervision of, Pierre Rocque P. Eng., Kirkland Lake Gold s Vice President, Technical Services. 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., the Company s Vice President of Exploration, Canadian Operations. All reserve and resource estimates for the Kirkland Lake Properties as at December 31, 2014 have been audited and verified, and the technical disclosure has been approved, by Kirkland Lake Gold s independent reserve and resource engineer, Glenn R. Clark, P. Eng., of Glenn R. Clark & Associates Limited. Mr. Clark is a qualified person under NI 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 Vice President 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 certified assay labs. REFER TO KIRKLAND LAKE GOLD ANNUAL INFORMATION FORM DATED MARCH 30, 2017, AVAILABLE ON SEDAR ( FOR COMPLETE NI NOTES AND DISCLOSURE PERTAINING TO THE RESOURCE AND RESERVE STATEMENTS QUOTED HEREIN. All updated NI TECHNICAL REPORTS IN SUPPORT OF THE COMPANY S NEWS RELEASES ISSUED ON MARCH 30, 2017, ENTITLED KIRKLAND LAKE GOLD INCREASES MINERAL RESERVES AT FLAGSHIP MACASSA MINE BY 37% AND FOSTERVILLE MINE BY 66% WILL BE FILED ON MARCH 30, 2017 ON SEDAR AT Qualified Persons Pierre Rocque, P.Eng., Vice President, Technical Services is a "qualified person" as defined in National Instrument 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, is a qualified person as such term is defined in National Instrument and has reviewed and approved the Mineral Resources 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 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 Standards of Disclosure for Mineral Projects ("NI ") 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 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 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 and the CIM Standards; however, these terms 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 cautioned not 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 their economic 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 the basis 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 ever be economically or legally mineable or recovered. 45

46 TSX: KL 200 Bay Street, Suite 3120 RBC Plaza - South Tower Toronto ON M5J 2J1 Main Telephone: Ryan King, Vice President Investor Relations E:rking@klgold.com D: April 2017 TONY MAKUCH President & Chief Executive Officer 46