Kinross Gold Corporation

There will be a question and answer session. If you would like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, again, press star one. Thank you. I would like to hand the call over to David Shaver, Senior Vice President, Investor Relations and Communications. Please go ahead.

Thank you and good morning. In the room with us today on the call, we have Paul Rowlinson, CEO, and from the Kinross Senior Leadership Team, Andrea Freeborough, Claude Schimper, Will Dunford, and Jeff Gold. For a complete discussion of the risks and uncertainties which may lead to actuarial results differing from estimates contained in our forward-looking information, please refer to page three of this presentation, our news release dated May 6, 2025, the MD&A for the period ended March 31st, 2025, and our most recently filed AIF, all of which are available on our website. I will now turn the call over to Paul.

Thanks, David, and thank you all for joining us. This morning, I will discuss our first quarter results, provide high-level updates across our portfolio, comment on sustainability and confirm our outlook. I will then hand the call over to Andrea, Claude, and Will to provide more detail. Following outstanding performance in 2024, we continue to deliver strong results in the first quarter. Our culture of technical excellence and financial discipline complemented by our consistent operating performance continues to drive significant margins in cash flow for our business. Our financial position and cash flow outlook remains excellent. And as a result, we are enhancing capital returns for shareholders. Q1 was a great start to the year with production of 512,000 ounces. As is compared to Q2 had another notable quarter and together accounted for more than half of our production and drove significant cash flow. Tassius saw strong output in Q1, supported by strong grades and recoveries. Claude will elaborate further, but after a brief shutdown due to a fire in April, the mill was recently restarted, and Tassius remains on track to meet its original full-year guidance. Hurricane II delivered another excellent quarter on the back of strong grades and improved mill recoveries. La Coypa and our U.S. assets also delivered production costs as planned. Turning now to updates on our projects. Our in-house technical and project execution teams made notable progress in Q1 across our pipeline of mine life extensions and growth projects that underpinned our long-term production profile. At Curlew, ongoing resource drilling is returning exciting results with recent assays demonstrating substantial grades and widths supporting future high margin production. At Round Mountain, underground development at Phase X is advancing well. And as outlined in our news release, we are continuing to see strong exploration results from infill drilling. At Lobo Marte, Baseline studies to support the project EIA are progressing well. At Great Bear, the advanced exploration program continues with construction and earthworks underway. Regarding the main project, we continue to advance our permitting efforts, working with the Impact Assessment Agency of Canada. And we've also kicked off detailed engineering on the mill and site infrastructure to advance the main project towards construction. Turning now to sustainability, I am pleased to say that our annual sustainability report will be published later this month. This comprehensive report, which is in its 17th edition, provides an update on all the progress we made in 2024 and what we aim to accomplish this year and beyond. It's an impressive document. which I encourage you all to review. Moving to our outlook, following a strong first quarter, we are firmly on track to achieve our production, cost, and capital guidance for the year. As we did last year and in Q1, we will continue to maintain our financial discipline and prioritize cost management in order to deliver strong margins in cash flow. With this positive outlook, I am pleased to say that in addition to our dividend, we have enhanced our return of capital by reactivating our share buyback. This should provide a substantial year-over-year increase in return of capital to our shareholders. With that, I'll now turn the call over to Andrea.