Kinross Gold Corp

Maintaining robust governance and transparent reporting is a key part of Kinross' climate change strategy. Kinross has a strong governance framework regarding climate change. The Board has overall responsibility for sustainability matters, which includes oversight of climate change risks and opportunities. The Board receives regular updates related to climate change and the Company's progress towards our climate goals. The Board's Corporate Responsibility and Technical Committee (CRTC) is responsible for sustainability oversight at the operational level. The CRTC reviews key policies, management systems, work plans, goals, policies and programs with a particular focus on assessment and mitigation of sustainability risks, including climate change. The Audit and Risk Committee (ARC) of the Board has responsibility for Kinross' overall risk process. All Board committees are fully comprised of independent directors. Read the CRTC Charter and the ARC Charter. In 2023, Kinross' Chief Operating Officer (COO), a member of Kinross' Senior Leadership Team (SLT), assumed management responsibility for climate change and energy. Functional responsibility resides with the Vice-President, Global Maintenance and Continuous Improvement, who reports directly to the COO. Our Environmental, Social and Governance (ESG) Executive Committee also plays an important role in Kinross' ESG strategy and specifically, governance of climate change. The ESG Executive Committee provides regular updates to the Board of Directors. Kinross' cross-functional ESG Steering Committee also brings together internal functions contributing specific perspectives relating to their responsibilities and areas of expertise to our understanding and strategy pertaining to broad sustainability risks and opportunities generally, and climate strategy and climate-related risks and opportunities more specifically. At the site level, mine general managers are responsible for climate change risk and opportunity. Climate targets are included in the ESG component of the Company's annual plan and are directly linked to 5% of scoring at the site and corporate levels for remuneration purposes. Management considers the trade-offs between climate-related risks and opportunities through technical and financial analysis of projects. For example, the Tasiast solar plant constructed in 2023 had been under consideration for several years but was only approved once there was a viable business case for doing so.

###### Task Force on Climate-related Financial Disclosures

Aspect Recommendation 2022 Alignment Description

Governance Describe the board oversight of climate-related risks and opportunities.||Kinross has a strong governance framework regarding climate change. Oversight of this critical area resides with Kinross' Board of Directors through the Corporate Responsibility and Technical Committee (CRTC). In keeping with the CRTC's mandate, updated in 2022, the Committee has primary oversight of the assessment and mitigation of ESG risks, including climate change. The Audit and Risk Committee (ARC) of the Board has responsibility for Kinross' overall risk process. > Read the CRTC Charter and the ARC Charter.||Describe management's role in assessing and managing climate-related risks and opportunities.||The ESG Executive Committee continues to enhance and broaden management's role in the governance of ESG. Comprised of the senior leaders responsible for sustainability, government relations and human resources across the Company, the ESG Committee reports to the Senior Leadership Team monthly and provides quarterly updates to the CRTC. As required, the ESG Committee also provides updates to the Corporate Governance and Nominating Committee, the Audit and Risk Committee, and the Human Resources and Compensation Committee on progress related to ESG mandates of the respective Board committees. The ESG Executive Committee's mandate is to lead the development of a holistic ESG strategy, which builds upon our strong ESG record and extends beyond our First Priorities. The Vice- President, ESG Strategy, a role centred exclusively on ESG strategy, is sharply focused on climate-related strategy and reports directly to the Senior Vice-President, Human Resources, a member of Kinross' Senior Leadership Team (SLT) and the SLT representative on the ESG Committee. Kinross' cross-functional ESG Steering Committee also supports the development of ESG and climate strategy by contributing specifci perspectives relating to their function and areas of expertise (Figure 10).

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…] At the corporate level, stakeholder engagement involves many functions including our Senior Leadership Team, investor relations, safety and sustainability, finance and treasury, human resources, government relations, corporate communications, and supply chain.

Engagement with corporate stakeholders provides important feedback on our sustainability strategy and performance, which we consider in updates to our strategy as well as action plans across all functional areas. With the rising focus on ESG among our key stakeholders, particularly among our institutional investors, we established a new ESG Executive Committee in 2021 to enhance and broaden the governance of ESG (Figure 5). Kinross' ESG Executive Committee, is composed of senior executives responsible for government relations, safety and sustainability, and global human resources at the corporate level. The committee and its members, along with the Vice-President, ESG are responsible for the ensuring alignment of our engagement activities and our climate change strategy. A newly created cross-functional Steering Committee is also contributing to the generation of ideas, knowledge of stakeholder perspectives, strategic goals, and performance indicators.

At the Board level, we updated the Charter of the Corporate Responsibility and Technical Committee (CRTC) to strengthen Board-level review and oversight of sustainability strategy, management systems and management's performance against objectives. The updated Charter includes the review and recommendation to the Board for approval of Kinross' voluntary ESG disclosures,
including sustainability reporting and ESG performance. Among 2021 highlights, the CRTC fulfilled its oversight role of management's decision to be a net-zero GHG emissions company by 2050 and the establishment of a GHG intensity reduction target of 30% by 2030.

Together, this governance framework helps to ensure that engagement activities are consistent with Kinross' overall climate change strategy.

To learn more about our engagement in this area, see the 2021 Sustainability Report, Leading ESG Governance (p. 23) and Stakeholder Engagement (pp. 28-31).

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes

## Climate Policy and Industry Associations

### Table 3: Degree of alignment between Kinross climate change position and organizations in which it participates

| Organization | Kinross Role/Influence | Kinross Position | Comment |
|--------------|-------------------------|------------------|---------|
| Canadian Association of Petroleum Producers (CAPP) | Kinross is not a member. | - | - |
| Mining Association of Canada (MAC) | Member of the MAC's Towards Sustainable Mining (TSM) initiative. | Kinross aligns with MAC's position to enhance the mining industry's ability to contribute to the achievement of sustainable development goals. | MAC requires members to adopt rigorous standards on tailings management, stakeholder engagement, and climate change. Kinross supports these standards and is guided by its principles. |
| World Gold Council (WGC) | Kinross is a founding signatory of the Responsible Gold Mining Principles (RGMPs), which defines a new framework that complements existing standards for responsible gold mining. | Kinross believes that transparency and accountability are crucial for gaining and maintaining the trust of stakeholders, including shareholders, employees, and communities. | RGMPs integrate and reflect the intention of international standards and guidelines and seek to address the key environmental, social, and governance issues faced by the gold mining sector. Kinross actively supports the implementation of the Principles. |
| Mining Industry Association of Southern Africa (MIASA) | Kinross is not an active member. | - | - |

Sources indicate that Kin
**Organisation: Church Investors Group**

**Organisation position:**

The Church Investors Group (CIG) is focused on the activities of individual businesses (e.g., fossil fuel companies). CIG has encouraged businesses to take practical measures to reduce greenhouse gas emissions, improve tracking of their product end-use emissions, support shareholder resolutions to improve disclosure of environmental issues, and seek assurance on emissions disclosures. CIG has produced a guide with the Transition Pathway Initiative to support investors in engaging with management of the largest, listed greenhouse gas emitters, and has issued a 2020 AGM resource identifying potential climate change-related resolutions to support and oppose.

**Kinross's role of influence: Stewardship position - Monitoring; Engagement position - Comment; Business role of influence - Monitoring**

Secular Commitment to the green transition broadly aligns with the goals of reducing organisational emissions and products' end use and reducing energy intensity of operations.

**Organisation: Canada Mining Innovation Council**

**Organisation position:**

CIMC is an industry-funded group that focuses on technical and economic strategies for mine efficiency, innovation, production efficiencies, energy use reduction, productivity improvement, and policies supporting the competitiveness of the mining industry. A significant focus area for the Council over the past decade has been incorporating improved water use and management practices among other technologies towards improving efficiency. This includes the selection of new management strategies and integration of innovative technology within the budgets of member companies. CIMC participates in joint public-private ventures that are aimed increasing the value of extended mine supply chains