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Notice of Annual Meeting of Shareholders of Kirkland Lake Gold Ltd

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Notice of Annual Meeting of Shareholders of Kirkland Lake Gold Ltd PMS: 662 C PMS: Cool Gray 7 C PMS: 7407 C PMS: 135 C C:100 M:87 Y:0 K:20 C:20 M:14 Y:12 K:40 C:6 M:36 Y:79 K:12 C:0 M:21 Y:76 K:0 R:24 G:54 B:131 R:135 G:138 B:143 R:210 G:152 B:71 R:255 G:203 B:88 HEX: #163683 HEX: #878a8f HEX: #d29847 HEX: #ffcb58 2021 Notice of Annual Meeting of Shareholders of Kirkland Lake Gold Ltd. TO BE HELD ON MAY 6, 2021 MANAGEMENT INFORMATION CIRCULAR DATED APRIL 9, 2021 MANAGEMENT INFORMATION CIRCULAR | DATED APRIL 9, 2021 KIRKLAND LAKE GOLD LTD. NOTICE OF ANNUAL MEETING OF SHAREHOLDERS NOTICE IS HEREBY GIVEN that an annual meeting (the “Meeting”) of the shareholders (the “Shareholders”) of Kirkland Lake Gold Ltd. (the “Company”) will be held in a virtual-only format, which will be conducted via live audio webcast available online at https://virtual-meetings.tsxtrust.com/1086 on Thursday, May 6, 2021 at 4:30 p.m. (Toronto time) for the following purposes: 1. to receive and consider the audited consolidated financial statements of the Company as at and for the years ended December 31, 2020 and 2019, together with the report of the auditors thereon; 2. to appoint KPMG LLP, Chartered Professional Accountants as auditor of the Company and authorize the board of directors to fix their remuneration; 3. to elect the directors of the Company for the ensuing year; 4. to consider and, if deemed appropriate, pass, with or without variation, a non-binding advisory resolution on the Company’s approach to executive compensation; and 5. to transact such further or other business as may properly come before the Meeting or any postponement(s) or adjournment(s) thereof. This notice is accompanied by a form of proxy, the management information circular (the “Circular”) and the audited consolidated financial statements of the Company as at and for the years ended December 31, 2020 and 2019. Your vote as a Shareholder is important. Shareholders who are unable to virtually attend the Meeting are requested to complete, date, sign and return the enclosed form of proxy so that as large a representation as possible may be had at the Meeting. The board of directors of the Company (the “Board”) has fixed the close of business on April 5, 2021 as the record date for the Meeting, being the date for the determination of the registered Shareholders entitled to notice and to vote at the Meeting and any adjournment or postponement thereof. In order to proactively deal with the unprecedented public health impacts of COVID-19, to mitigate risks to the health and safety of the Company’s Shareholders, communities and other stakeholders and to ensure compliance with local laws or orders restricting the size of public gatherings in response to COVID-19, the Company has made arrangements to enable Shareholders to virtually attend and vote at this year’s Meeting, which will be conducted via live audio webcast at: https://virtual-meetings.tsxtrust.com/1086. A virtual-only Meeting format is intended to enfranchise and give all Shareholders an equal opportunity to participate at the Meeting regardless of their geographic location or the particular constraints, circumstances or risks they may be facing as a result of COVID-19. Shareholders will not need, nor be able, to attend the Meeting in person. At the Meeting, registered Shareholders and duly appointed proxyholders will have an opportunity to participate, to ask questions, and to vote, all in real time, through an online portal at https://virtual-meetings.tsxtrust.com/1086. Non-registered Shareholders must carefully follow the procedures set out in the Circular in order to vote virtually and ask questions through the live webcast. Guests, including non-registered Shareholders who have not been duly appointed as proxyholders, can log into the virtual Meeting as a guest. Guests may listen to the Meeting but will not be entitled to vote or ask questions during the Meeting. 3 MANAGEMENT INFORMATION CIRCULAR | DATED APRIL 9, 2021 The Company encourages all Shareholders to vote in advance of the Meeting online or by completing, dating, signing and returning the accompanying form of proxy, in each case in accordance with the instructions contained in the Circular or on the form of proxy. The Board has by resolution fixed 4:30 p.m. (Toronto time) on May 4, 2021 or 48 hours (excluding Saturdays, Sundays and holidays) before any adjournment or postponement of the Meeting as the time by which proxies to be used or acted upon shall be deposited with the Company’s transfer agent, in accordance with the instructions set forth in the accompanying Circular and the form of proxy. The time limit for deposit of proxies may be waived or extended by the Meeting Chair at his or her discretion without notice. DATED at Toronto, Ontario as of the 9th day of April, 2021. BY ORDER OF THE BOARD (Signed) “Jeff Parr” Chairman of the Board If you are a non-registered Shareholder and receive these materials through your broker or through another intermediary, please complete and return the materials in accordance with the instructions provided to you by your broker or other intermediary. Failure to do so may result in your shares not being eligible to be voted by proxy at the Meeting. 4 MANAGEMENT INFORMATION CIRCULAR | DATED APRIL 9, 2021 LETTER TO SHAREHOLDERS April 9, 2021 To Our Fellow Shareholders, Your Company’s most significant achievement in 2020 was our extensive response to the COVID-19 pandemic, which clearly demonstrated that, at Kirkland Lake Gold, nothing is more important than the health and safety of our people and the responsible operation of our business. Commencing in March 2020, we introduced extensive health and safety protocols to protect workers from COVID-19. Among these protocols was the suspension of all non-essential work, including work on major capital projects and all exploration drilling, remote work where possible, and protocols in support of social distancing, medical testing and cleaning and sanitizing. As part of the COVID-19 response, reduced operations were introduced at the Detour Lake Mine (March 23, 2020) and the Macassa Mine (April 2, 2020) and operations were suspended at the Holt Complex (April 2, 2020). The gradual recall of workers commenced at the Detour Lake Mine and the Macassa Mine, and resumption of project and exploration work began, later in the second quarter of 2020 with workforces returning to pre-COVID levels by June 30, 2020. The ramp up of exploration drilling continued throughout most of the year. Most of our health and safety protocols remained in place at the end 2020, with many expected to continue for the foreseeable future. During 2020, nine of our workers (employees and contractors) tested positive for the COVID-19 virus. In each case, it was determined by public health authorities that the infection occurred offsite through community spread. Very importantly, there was no transmission of the virus to anyone at our operations, with all test results of workers coming in contact with the exposed individuals being negative. The Company is pleased to report that in all nine cases, the workers fully recovered from the virus. Faced with the challenges of a global pandemic, our people clearly rose to the occasion, turning in their finest year ever. During 2020, your Company achieved its best safety performance, made excellent progress in promoting the sustainability of its business, achieved significant exploration success, advanced a number of key growth projects and acquired the Detour Lake Mine, which has clearly emerged as the right deal at the right time. In terms of results, we achieved all of our full-year 2020 consolidated guidance, and generated record levels of production, revenue, earnings and cash flow. Also, during the year, your Company made a significant commitment to returning capital to shareholders, with $848.3 million returned through share repurchases and dividend payments, while also maintaining one of the industry’s strongest balance sheets. Your Company’s achievements in 2020 are entirely consistent with, and reflect, our overriding goal to create value in everything we do. For shareholders, our management team seeks to generate superior returns by achieving high levels of operational excellence, industry-leading performance and effectively allocating capital to maximize long-term value creation. In executing its responsibilities, management receives valuable supervision and oversight from our Board of Directors (the “Board”), which has responsibility for the overall stewardship of the business and whose fundamental objectives include enhancing and preserving long-term shareholder value by working with management in the development and execution of the Company’s business strategy, in meeting its obligations on an ongoing basis and in ensuring that Kirkland Lake Gold is always operated in an effective, reliable and safe manner. 5 MANAGEMENT INFORMATION CIRCULAR | DATED APRIL 9, 2021 Sustainability In 2020, your Company worked harder than ever to earn social license and to be a valued member of our communities, including supporting them during the COVID-19 pandemic. Our work in this area involved protecting our people to keep both them and their families safe, partnering with local businesses in new and innovative ways and providing unprecedented support to local health care and community groups. During 2020, we added 450 new jobs at our operating mines and paid over $300 million in total wages, most of which remained within the local community or region. Of the $1.32 billion we used for goods and services procurement in 2020, close to 80% ($1.04 billion) stayed in Ontario and Victoria, and $263 million of that was spent with companies that have joint ventures with Indigenous communities.
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