KLGOLD.COMTSX: KL

NYSE: KLASX: KLA

OPERATIONAL EXCELLENCE | ORGANIC GROWTH | SHAREHOLDER RETURNS

January 24 – 26, 2018

CIBC 21st Annual Whistler Institutional Investor Conference

On the Road to a Million Ounces of Gold Per Year

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

FORWARD LOOKING STATEMENTS

Macassa

2

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, June 30 and September 30, 2017 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 inaccordance 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.

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

3

2 Key Drivers of Performance – 77% of 2017 Production

Fosterville Macassa Other Mines1 Consolidated

P&P Reserve Grade (g/t Au) 17.9 20.8 4.6

2017 Production (ounces) 263,845 194,237 138,323 596,405

9M 2017 Op. Cash Costs ($/Oz Sold)2,3 281 516 672 508

1) Includes the Holt and Taylor mines (excludes mines 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 1.31 and a USD to AUD exchange rate of 1.31. See Kirkland Lake Gold News release dated November 2, 2017

IN LEADING MINING JURISDICTIONS

HIGH-GRADE, LOW-COST GOLD MINES

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

1. OPERATIONAL EXCELLENCE

2. DISCIPLINED ORGANIC GROWTH

3. FOCUS ON SHAREHOLDER RETURNS

3 PILLARS OF VALUE CREATION

Macassa

4

Fosterville

Macassa

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

▪ Beat 2017 production guidanceo Produced record 596,405 ounces FY 2017

o Record quarterly production of 166,579 in Q4/17

o Production guidance increased three times in 2017

o 2017 Guidance 580 – 595 kozs; cash operating costs $475 –$500/oz and AISC

1$800 – $825/oz

▪ Increasing mineral reserveso Macassa reserves up 37% to 2.0M ozs @ 20.8 g/t

o Fosterville reserves grow 110%, grade increased 83% (1.03M ozs @ 17.9 g/t)

▪ Sound financial management o $113.5M in free cash flow in 9M 2017

o Approx. $230M in cash2

at Dec. 31/17

o No debt – 7.5% debentures matured Dec. 31/17

▪ Focused on profitable miningo Two high-cost mines on care and maintenance

o Stawell mine sold Dec. 21/17

1. OPERATIONAL EXCELLENCE

5

$ millions unless otherwise stated Nine-Month 2017 Results (excluding production) Performance Guidance

Production (kozs) (Full Year)1 596.4 580 – 595

Operating cash costs ($/oz)2,3 $508 $475 – $500

AISC ($/oz)2,3 $811 $800 – $825

Operating cash costs2 217 $270 – $280

Capital expenditures 106 $160 – $180

Exploration 38 $45 – $55

Royalty cost 15 $22 – $25

G & A 16 $20

2017 PERFORMANCE VERSUS GUIDANCE

1) Refers to all-in sustaining costs2) Refers to cash and cash equivalents

1) 2017 production includes: Fosterville 263,845 ozs (FY) & 79,157 ozs (Q4); Macassa 194,237 ozs (FY) & 51,608 ozs (Q4); Holt 66,677 ozs (FY) & 19,263 ozs (Q4), Taylor 50,764 ozs (FY) & 16,538 ozs (Q4); Cosmo 20,595 ozs (FY) & nil (Q4), Holloway 287 ozs (FY) & 13 ozs (Q4)

2) Operating Cash Costs per ounce and AISC per ounce are examples of Non-IFRS measures. Please see the Non-IFRS Measures section in forward looking statements on Slide 2. In addition, please see Kirkland Lake Gold’s News Release dated November 2, 2017 and Q3 2017 MD&A for additional reporting details related to Operating Cash Costs per ounce and AISC per ounce results

3) Operating Cash Costs per ounce and AISC per ounce guidance reflects an average USD to CAD exchange rate of 1.35 and a USD to AUD exchange rate of 1.33. Operating Cash Costs per ounce and AISC per ounce results in 9M 2017 reflect an average USD to CAD exchange rate of 1.31 and USD to AUD exchange rate of 1.31. See Kirkland Lake Gold News release dated November 2, 2017

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

▪ Targeting a million ounces/year in 5 – 7 years1

o Fosterville to reach >400 kozs by 2020 with full production at Swan Zone

o Macassa to achieve >400 kozs in 5 to 7 years with new shaft

o Targeting growth at Taylor mine, resumption of operations at Cosmo

▪ Achieving significant exploration success o Fosterville: Swan Zone discovery (532 kozs @ 58.8 g/t),

multiple in-mine and district targets

o Cosmo: Significant expansion of Lantern Deposit recently announced

o Macassa SMC extended 259 m to east

o New mineralization discovered 1.8 km east of Taylor

▪ Aggressive investment in exploration

2. DISCIPLINED ORGANIC GROWTH

61) Includes examples of forward-looking statements

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

▪ KL top performing stock on S&P/TSX Comp. Index in 2017 with 174.5% share price increase (on full-year basis)

▪ Repurchased 5.4M shares for C$76.5M

▪ Introduced dividend in July, increasing to C$0.02/share in January 2018

▪ Used cash to eliminate debt, reduce royalties, make strategic investments

▪ Global market presence – listed on TSX (symbol: KL), NYSE (symbol: KL) and ASX (symbol: KLA)

3. FOCUSED ON SHAREHOLDER RETURNS

7

KL outperforming peers (share price increased 174.5% in 2017)

TSX:KL

S&P/TSX Global Gold Index

Close on Friday, Jan. 19, 2018TSX: C$19.89NYSE: $15.93ASX: A$23.10

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

▪ Production growth to approx. 620 kozo Growth at Macassa (215 – 225 kozs) & Taylor (60 – 70

kozs)

o Holt production similar to 2017 (65 – 75 kozs)

o Fosterville targeting 260 – 300 kozs

▪ Improved unit costso Op. cash costs to improve from 2017 guidance of $475 –

$500/oz

o AISC to improve from 2017 guidance of $800 – $825/oz

▪ Investing for future growth o Sustaining capex supports production over multiple years

o Growth capex reflects Macassa shaft project, bulk of growth capital needed to reach >400 kozs at Fosterville

▪ Increasing commitment to exploration in 2018o $60M – $75M targeted for Australia: Multiple targets at

both Fosterville and in Northern Territory

o Exploration in Canada to focus on continued growth of SMC at Macassa and expansion of mineralization at Taylor

Fosterville

Macassa

2018 Guidance

$ millions unless otherwise stated

Production (kozs) +620

Operating cash costs ($/oz)1,2 $425 – $450

AISC ($/oz)1,2 $750 – $800

Operating cash costs1 $260 – $270

Sustaining capital expenditures $150 – $170

Growth capital expenditures $85 – $95

Exploration $75 – $90

Royalty cost $22 – $27

G & A $20 – $22

1) Operating Cash Costs, Operating Cash Costs per ounce and AISC per ounce are examples of Non-IFRS measures. Please see the Non-IFRS Measures section in forward looking statements on Slide 2. In addition, please see Kirkland Lake Gold’s News Release dated November 2, 2017 and Q3 2017 MD&A for additional reporting details related to Operating Cash Costs per ounce and AISC per ounce results (AISC refers to all-in sustaining costs)

2) Operating Cash Costs per ounce and AISC per ounce guidance reflects an average USD to CAD exchange rate of 1.25 and a USD to AUD exchange rate of 1.25.

2018: HIGHER PRODUCTION, LOWER UNIT COSTS, INVESTING FOR GROWTH

1

81) Includes examples of forward-looking statements

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

1) See the Company’s MD&A for the three and nine months ended September 30, 2017 dated November 2, 2017 for more information on Fosterville’s operating performance. (See Slide 2 for information regarding Non-IFRS measures)2) Refer to Appendix for NI 43-101 disclosure3) Operating Cash Costs per ounce guidance reflects an average USD to AUD exchange rate of 1.25.

▪ Record production in 2017

o 547.5 kt @ 15.8 g/t for 263,845 ozs

o Record quarterly production of 79,157 ozsin Q4/17 (118.9 kt @ 21.5 g/t)

FOSTERVILLE: TARGETING >400 KOZS/YEAR BY 2020

9

98.4 105.3 123.1151.2

263.8260 - 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) 3 Y EAR T AR GET

FOSTERVILLE GOLD PRODUCTION (KOZS)

▪ Low-cost producer1

o Cash costs $281/oz, AISC $501/oz in 9M 2017

▪ Growing mineral reserves2

o More than doubled reserve ounces, increased average grade 83%

o P&P reserves 1.03M ozs @ 17.9 g/t gold (1.79 Mt) as at June 30, 2017

▪ 2018 guidance:

o Production: 260 – 300 kozs

o Cash costs: $270 – $290/oz3

* Forecast (2018 Guidance)

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

▪ Focus on accelerating conversion in three production horizons – Lower Phoenix (Swan), Lower Phoenix North and Harrier South

▪ Significant step-out drilling along plunge at Swan Zone (mineral reserve of 532,000 ozs @ 58.8 g/t)

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

Contact of Eagle and Swan

FOSTERVILLE: EXTENSIVE NEAR-MINE DRILLING PLANNED IN 2018

10

Harrier South Lower Phoenix

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

o ~10km strike length of Mineral Resources

o ~7km on Fosterville Fault Line, and

o ~3km on the O’Dwyer’s Fault Line.

▪ Surrounding exploration leases encompass

o ~1400km2 and

o ~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 Mine

FOSTERVILLE: LARGE ORE DEPOSIT EXPLORATION (“LODE”)

11

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

MACASSA: TARGETING >400 KOZS/YEAR IN 5 TO 7 YEARS

12

* Forecast (2018 Guidance)

▪ Record production in 2017

o 409.1 kt @ 15.2 g/t for 194,237 ozs

o Q4/17 production of 51,608 ozs, 2nd best quarter ever (119.1 kt @ 13.9 g/t)

▪ Low-cost producer1

o Cash costs $516/oz, AISC $804/oz in 9M 2017

▪ Large base of mineral reserves/mineral resources2

(as at Dec. 31, 2016)

o P&P reserves 2.01M ozs @ 20.8 g/t gold (3.0 Mt)

o M&I resources 1.32M ozs @ 16.6 g/t gold (2.24 Mt)

▪ 2018 guidance:

o Production: 215 – 225 kozs

o Cash costs: $475 – $500/oz3

1) See the Company’s MD&A for the three and nine months ended September 30, 2017 dated November 2, 2017 for more information on Macassa’s operating performance. (See Slide 2 for information regarding Non-IFRS measures)2) Refer to Appendix for NI 43-101 disclosure3) Operating Cash Costs per ounce guidance reflects an average USD to CAD exchange rate of 1.25.

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MACASSA: NEW SHAFT TO PROVIDE MULTIPLE BENEFITS

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

13

Benefits: 1. De-risks operation. 2. Supports more effective exploration. 3. improves working conditions. 4. leads to increased production & lower unit costs

KLGOLD.COMTSX:KL

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14

1

2

3

3

Macassa #4 Shaft – Four Compartments

1. Men and material cage – 52 person capacity, 3.5-yard scoops

2. Auxiliary cage – two decks, 6 people

3. Two production skips – 22-tonne capacity to support 4,000 tonnes per day (total haulage)

MACASSA: NEW SHAFT TO PROVIDE MULTIPLE BENEFITS

KLGOLD.COMTSX: KL

NYSE: KLASX: KLA

OPERATIONAL EXCELLENCE | ORGANIC GROWTH | SHAREHOLDER RETURNS

January 24 – 26, 2018

CIBC 21st Annual Whistler Institutional Investor Conference

On the Road to a Million Ounces of Gold Per Year

KLGOLD.COMTSX:KL

NYSE:KLASX:KLA

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, 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 Properties as at December 31, 2014 have beenaudited 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 ‘qualifiedperson’ under NI 43-101. 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 certifiedassay labs.

REFER TO KIRKLAND LAKE GOLD ANNUAL INFORMATION FORM DATED MARCH 30, 2017, 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 RELEASES ISSUED ON MARCH 30, 2017, ENTITLED “KIRKLAND LAKE GOLD INCREASES MINERAL RESERVES AT FLAGSHIP MACASSA MINE BY 37% AND FOSTERVILLE MINE BY 66%” WHICH WAS FILED ON MARCH 30, 2017 ON SEDAR AT WWW.SEDAR.COM

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 theCanadian 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 mineralreserve" 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, these terms are notdefined 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 partof 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 assumedthat 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 limitedcircumstances. 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.

NI 43-101 DISCLOSURE

16

KLGOLD.COMTSX:KL

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RECORD FULL-YEAR & QUARTERLY PRODUCTION IN 2017

1) The Company’s Cosmo Mine in Australia was placed on care and maintenanceeffective June 30, 2017 (see News Release dated May 4, 2017). The Company’sHolloway Mine in Canada was transitioned to care and maintenance effectiveDecember 31, 2016 (see News Release dated December 12, 2016). TheCompany’s Stawell Mine in Australia was put on care and maintenanceeffective December 13, 2016 (see News Release dated December 12, 2016) andwas subsequently sold on December 21, 2017 (see News Release datedDecember 11, 2017).

2) Production numbers may not add to total due to rounding.

Q4 2017 Q4 2016 Q3 2017 FY 2017 FY 2016

Fosterville

Ore Milled (tonnes) 118,877 176,242 143,326 547,476 693,066

Grade (g/t Au) 21.5 8.5 14.1 15.8 7.6

Recovery (%) 96.3 92.4 94.7 95.0 90.1

Gold Production (ozs) 79,157 44,406 61,535 263,845 151,755

Macassa

Ore Milled (tonnes) 119,130 102,288 93,391 409,065 396,633

Run-of-Mine 119,130 74,745 92,377 387,054 331,353

Low-Grade n/a 27,543 1,014 22,011 65,280

Grade (g/t Au) 13.9 16.3 16.5 15.2 14.1

Run-of-Mine 13.9 21.6 16.6 16.0 16.5

Low-Grade n/a 2.3 2.0 1.6 2.0

Recovery (%) 96.8 97.6 97.4 97.1 97.1

Gold Production (ozs) 51,608 52,318 48,206 194,237 175,167

Holt

Ore Milled (tonnes) 127,493 113,499 124,394 462,987 416,048

Grade (g/t Au) 5.0 4.6 4.5 4.7 4.5

Recovery (%) 94.9 94.5 94.5 94.8 94.5

Gold Production (ozs) 19,263 15,761 16,995 66,677 57,086

Taylor

Ore Milled (tonnes) 89,297 48,254 71,897 292,003 199,231

Grade (g/t Au) 6.0 6.7 5.0 5.6 6.9

Recovery (%) 96.2 96.1 95.5 96.2 96.5

Gold Production (ozs) 16,538 10,048 11,066 50,764 42,639

Operations on Care & Maintenance1

Cosmo – Gold Production (ozs) n/a 13,307 1,290 20,595 55,765

Holloway – Gold Production (ozs) 13 9,825 n/a 287 28,135

Stawell – Gold Production (ozs) n/a 6,971 n/a n/a 32,204

Gold Production (excluding operations on care and maintenance or sold in 2017)

166,566

122,533

137,801

575,523

426,647

Total Consolidated Production (ozs)2 166,579 152,636 139,091 596,405 542,751 17