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Annual and Special Meeting of Shareholders April 25, 2025
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Annual and Special Meeting of Shareholders 2025 Notes to Investors Forward-Looking Statements The information in this presentation has been prepared as at April 24, 2025. Certain statements contained in this presentation constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward- looking information" under the provisions of Canadian provincial securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could, or may or will occur are forward-looking statements. When used in this presentation, the words "achieve", "aim", "anticipate", "commit", "could", "estimate", "expect", "forecast", "future", "guide", "objective", “pathway”, "plan", "potential", "schedule", "target", "track", “vision”, "will", and similar expressions are intended to identify forward-looking statements. Such statements include the Company's forward-looking guidance, including metal production, estimated ore grades, recovery rates, project timelines, drilling targets or results, life of mine estimates, total cash costs per ounce, AISC per ounce, other expenses and cash flows; the potential for additional gold production at the Company's sites; the estimated timing and conclusions of the Company's studies and evaluations; the methods by which ore will be extracted or processed; the potential to produce one million ounces per year at Detour Lake and at Canadian Malartic; the Company's expansion plans at Detour Lake, Upper Beaver and Odyssey, including the timing, funding, completion and commissioning thereof and the commencement of production therefrom; the Company's plans at Hope Bay and San Nicolás; statements concerning the Company's "fill-the-mill" strategy at Canadian Malartic, including plans at the Marban project; statements concerning other expansion projects, recovery rates, mill throughput, optimization efforts and projected exploration, including costs and other estimates upon which such projections are based; timing and amounts of capital expenditures, other expenditures and other cash needs, and expectations as to the funding thereof; estimates of future mineral reserves, mineral resources, mineral production and sales; the projected development of certain ore deposits, including estimates of exploration, development and production and other capital costs and estimates of the timing of such exploration, development and production or decisions with respect to such exploration, development and production; estimates of mineral reserves and mineral resources and the effect of drill results and studies on future mineral reserves and mineral resources; the Company's ability to obtain the necessary permits and authorizations in connection with its proposed or current exploration, development and mining operations, and the anticipated timing thereof; future exploration; the anticipated timing of events with respect to the Company's mine sites; the Company's plans and strategies with respect to climate change and greenhouse gas emissions reductions and other sustainability initiatives; the sufficiency of the Company's cash resources; the Company's plans with respect to hedging and the effectiveness of its hedging strategies; future activity with respect to the Company's unsecured revolving bank credit facility and other indebtedness; future dividend amounts, record dates and payment dates; the effect of tariffs and trade restrictions on the Company; plans with respect to activity under the NCIB and the renewal of the NCIB, including the dollar value of the limit on purchases and anticipated trends with respect to the Company's operations, exploration and the funding thereof. Such statements reflect the Company's views as at the date of this presentation and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material factors and assumptions used in the preparation of the forward-looking statements contained herein, which may prove to be incorrect, include, but are not limited to, the assumptions set forth herein and in management's discussion and analysis (the "2024 MD&A") and the Company's Annual Information Form (the "AIF") for the year ended December 31, 2024 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the year ended December 31, 2024 (the "Form 40-F") filed with the U.S. Securities and Exchange Commission (the "SEC") as well as: that there are no significant disruptions affecting operations; that production, permitting, development, expansion and the ramp-up of operations at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the Company's plans for its mining operations are not changed or amended in a material way; that the relevant metal prices, foreign exchange rates and prices for key mining and construction inputs (including labour and electricity) will be consistent with Agnico Eagle's expectations; that the effect of tariffs or trade disputes will not materially affect the price or availability of the inputs the Company uses at its operations; that Agnico Eagle's current estimates of mineral reserves, mineral resources, mineral grades and metal recovery are accurate; that there are no material delays in the timing for completion of ongoing growth projects; that seismic activity at the Company's operations at LaRonde, Goldex, Fosterville and other properties is as expected by the Company and that the Company's efforts to mitigate its effect on mining operations, including with respect to community relations, are successful; that the Company's current plans to address climate change and reduce greenhouse gas emissions are successful; that the Company's current plans to optimize production are successful; that there are no material variations in the current tax and regulatory environment; that governments, the Company or others do not take measures in response to pandemics or other health emergencies or otherwise that, individually or in the aggregate, materially affect the Company's ability to operate its business or its productivity; and that measures taken relating to, or other effects of, pandemics or other health emergencies do not affect the Company's ability to obtain necessary supplies and deliver them to its mine sites. Many factors, known and unknown, could cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, project development, capital expenditures and other costs; foreign exchange rate fluctuations; inflationary pressures; financing of additional capital requirements; cost of exploration and development programs; seismic activity at the Company's operations, including at LaRonde, Goldex and Fosterville; mining risks; community protests, including by Indigenous groups; risks associated with foreign operations; risks associated with joint ventures; governmental and environmental regulation; the volatility of the Company's stock price; risks associated with the Company's currency, fuel and by-product metal derivative strategies; the current interest rate environment; the potential for major economies to encounter a slowdown in economic activity or a recession; the potential for increased conflict or hostilities in various regions, including Europe and the Middle East; and the extent and manner of communicable diseases or outbreaks, and measures taken by governments, the Company or others to attempt to mitigate the spread thereof may directly or indirectly affect the Company. For a more detailed discussion of such risks and other factors that may affect the Company's ability to achieve the expectations set forth in the forward-looking statements contained in this presentation, see the AIF and 2024 MD&A filed on SEDAR+ at www.sedarplus.ca and included in the Form 40-F filed on EDGAR at www.sec.gov, as well as the Company's other filings with the Canadian securities regulators and the SEC. Other than as required by law, the Company does not intend, and does not assume any obligation, to update these forward-looking statements. About this Presentation Unless otherwise stated, references to "Canadian Malartic", "Goldex", "LaRonde" and "Meadowbank" are to the Company's operations at the Canadian Malartic complex, the Goldex complex, the LaRonde complex and the Meadowbank complex, respectively. The Canadian Malartic complex consists of the mining, milling and processing operations at the Canadian Malartic mine and the mining operations at the Odyssey mine. The Goldex complex consists of the mining, milling and processing operations at the Goldex mine and the mining operations at the Akasaba West open pit mine. The LaRonde complex consists of the mining, milling and processing operations at the LaRonde mine and the mining operations at the LaRonde Zone 5 mine. The Meadowbank complex consists of the milling and processing operations at the Meadowbank mine and the mining operations at the Amaruq open pit and underground mines. References to other operations are to the relevant mines, projects or properties, as applicable. Further Information – For further details on Agnico Eagle’s first quarter 2025 results, please see the Company’s news release dated April 24, 2025. Note Regarding Currency – All amounts expressed in U.S. dollars unless otherwise noted. Front Cover – Agnico Eagle’s Odyssey Project at Canadian Malartic located in the Abitibi, Quebec, taken in the third quarter of 2024. 2
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Annual and Special Meeting of Shareholders 2025 The Arctic Edge: Stories from Canada’s Frontier Hosted by Award-Winning journalist and broadcaster, Hannah Thibedeau Explores the North’s social, economic and environmental opportunities and its strategic importance for Canada Episodes 1 & 2 Available May 1, 2025 Subscribe now at thearcticedge.ca 3
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Annual and Special Meeting of Shareholders 2025 April 11, 2025 $3,245 $20 $40 $80 $160 $320 $640 $1,280 $2,560 $5,120 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012 2016 2020 2024 2028 Gold Price - US$/oz (Log) 3rd Gold Cycle • Uncertainty around tariff and trade dispute impacts • Aggressive accumulation of gold by Central Banks • Unsustainable fiscal deficits alongside historically high government debt levels • Rising deglobalization trends amidst ongoing geopolitical tensions • Role of the US dollar as a store of value under threat • Fixed income and equity market valuations and volatility lead to renewed strategic investment thesis for gold Source: Bloomberg, MKS PAMP, Capitallight Research April 2025 2nd Gold Cycle Gold price increase by more than 550% from 2001 to 2011 1st Gold Cycle Within the cycle, gold price increased by more than 550% in from 1976 to 1980 History of Gold Price Cycles Gold – A Safe Haven in Periods of Uncertainty 4
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Annual and Special Meeting of Shareholders 2025 Superior Share Performance Since Merger Agnico Eagle Has Outperformed the S&P500, Gold and Gold Equities AEM US Equity CAGR 31.5% Gold Spot CAGR 20.2% XAU Index CAGR 11.4% S&P 500 Index CAGR 5.5% Source: Bloomberg, CapIQ – February 8, 2022 (closing date of the merger between Agnico Eagle and Kirkland Lake Gold) to April 23, 2025 50% 100% 200% 2022 2023 2024 2025 5
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Annual and Special Meeting of Shareholders 2025 Agnico Eagle: A High-Quality, Low-Risk Senior Gold Producer Third Largest Gold Producer Proven Geological Potential in Premier Jurisdictions 6 2005 2024 1 Operating Mines 11 1 Operating Countries 4 240 Gold Production (koz) 3,485 ~14x 2.7 Gold Production (oz per 1,000 shares) 7.0 ~3x $0.93 EBITDA1 ($/sh) $8.93 ~10x $0.03 Annualized Dividend ($/sh) $1.60 ~50x Increasing Shareholder Value Simple and consistent strategy Focus on regions with high geological potential and in low-risk mining jurisdictions Demonstrated technical skill set and commitment to stakeholders, as expected from a partner with a multi-decade investment horizon Emphasis on per share metrics – Production per share. Cashflow per share. Earnings per share Disciplined capital investments based on knowledge and diligence, and a continued commitment to returning capital to shareholders 1 This is a non-GAAP measure, see Notes to Investors Regarding Certain Measures of Performance in this presentation
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Annual and Special Meeting of Shareholders 2025 $0.76 $1.07 $1.14 $1.26 $1.53 $- $0.50 $1.00 $1.50 $2.00 $2.50 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Per Share Results Adjusted Net Income per Share Operating Cash Flow per Share Track Record of Operational Excellence Demonstrates Strength of Business 1 These are non-GAAP measures, see Notes to Investors Regarding Certain Measures of Performance in this presentation 2 AISC margin is calculated as realized gold price/oz less AISC/oz, divided by realized gold price/oz. AISC is a non-GAAP measure, see Notes to Investors Regarding Certain Measures of Performance in this presentation 7 Delivered record results • Gold production • Adjusted net income • Cash flow • Share price Building the foundations of our future growth Strengthened the business 2024 Highlights 1 Detour Lake operations $396 $557 $620 $570 $594 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Free Cash Flow1 ($M) 42% 50% 48% 51% 59% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 AISC Margin2 $1,316 $920 $490 $217 $5 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Net Debt1 Position ($M)
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Annual and Special Meeting of Shareholders 2025 FY2025 and Beyond – Strongest Position in Our History 1 See AEM February 13, 2025 news release for more details on 2025 guidance 2 These are non-GAAP measures, see Notes to Investors Regarding Certain Measures of Performance in this presentation 3 Excludes capitalized exploration 4 Includes corporate development costs 2025 Guidance1 Range Midpoint Production Guidance (Moz) 3.3 – 3.5 3.4 Total Cash Costs2 ($/oz) $915 – $965 $940 AISC2 ($/oz) $1,250 – $1,300 $1,275 Capital Expenditures2,3 ($M) $1,750 – $1,950 $1,850 Capitalized Exploration ($M) $290 – $310 $300 Exploration Expense4 ($M) $215 – $235 $225 Updated Three Year Guidance 8 3) Continuing to Strengthen the Business and Reward Shareholders Potential to continue generating strong cash flows and capital returns with leverage to gold prices 1) Stable Production Outlook at Peer Leading Costs Expected total cash costs and AISC up 4% and 3%, respectively, vs. 2024 1 Growth capital and exploration increased to support high return internal/pipeline projects 2) Continuing to Invest in Our Future Growth Advancing robust project pipeline within existing camps Continuing to focus on optimization initiatives Meliadine operations
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Annual and Special Meeting of Shareholders 2025 Detour Lake – Pathway to One Million Ounce Annual Producer 9 World-class asset – Largest producing mine in Canada; open pit mine life until 2053 and potential underground mine Outlined pathway to 1Moz annual production beginning in 2030; mill optimization to 29mtpa ongoing Development of 2km exploration ramp for drilling access and bulk sample
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Annual and Special Meeting of Shareholders 2025 Canadian Malartic – Vision to One Million Ounce Annual Producer Development of Odyssey progressing on schedule Vision to 1Moz annual gold production • 2nd shaft – Internal technical evaluation ongoing • Marban – Acquisition of O3 Mining completed in Q1 2025; potential to become satellite open pit • Wasamac – Advancing evaluation, permitting and community engagement 10
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Annual and Special Meeting of Shareholders 2025 Hope Bay – Advancing the Potential for a Larger Production Scenario 11 Advancing the potential for ~400koz production scenario Initial indicated mineral resource estimate at Patch 7 Upgrading existing infrastructure and advancing site preparedness for a potential redevelopment
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Annual and Special Meeting of Shareholders 2025 Upper Beaver – Opportunity to Grow Lower-risk, Profitable Production Results of internal evaluation announced in July 2024 for a standalone mine and mill scenario Potential average annual production of ~210koz beginning in 2031 Advancing work on exploration ramp and exploration shaft for underground drilling platforms and for bulk samples 12 Galloway at Upper Beaver project Kirkland Lake camp
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Annual and Special Meeting of Shareholders 2025 San Nicolas – World Class VMS Deposit 50/50 joint venture with Teck Resources Limited Feasibility study and execution strategy development ongoing – study completion expected in H2 2025 Project approval is expected to follow, subject to receipt of permits and the results of the feasibility study 13 San Nicolas Project Mexican operations
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Annual and Special Meeting of Shareholders 2025 High-Quality Business Positioned to Generate Strong Returns Low-Risk Mining Jurisdictions Multi-mine, multi-decade geologic potential Multi-decade political stability Regional focus maintaining a manageable business Uniquely Positioned High-quality project pipeline in core operating regions with unique potential to leverage existing assets Competitive advantage from over 50 years of operations in Canada Unique mining expertise in Nunavut Highest Quality Senior Gold Producer High sustainability standards with multi-decade investment horizon Disciplined capital investments based on technical and regional knowledge Creating value through the drill bit and technical expertise Strong Financial Returns Emphasis on per share value creation Strong financial position to fund growth projects, strengthen balance sheet and return capital to shareholders 41 consecutive years of dividend payments 14
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Trading Symbol: AEM on TSX & NYSE Investor Relations: 416-947-1212 info@agnicoeagle.com agnicoeagle.com