Alamos Gold Inc. · TSX:AGI
Alamos Gold — Q1 2025 Earnings Presentation
24 slides from Alamos Gold's earnings presentation, May 1, 2025
Slide 1: First Quarter 2025 Results Presentation
First Quarter 2025 Results Presentation May 1, 2025
Slide 2: Cautionary notes
Cautionary notes This presentation, the information contained herein, any other materials provided in connection with this presentation and any oral remarks accompanying this presentation (collectively, the “Presentation”), has been prepared by Alamos Gold Inc. (“Alamos” or the “Company”) solely for
Slide 3: Q1 2025 highlights – on track to achieve full year production guidance
Q1 2025 highlights – on track to achieve full year production guidance Growing production (000 oz) Operating revenues (US$M)4 Cash flow from operations, before changes in working capital (US$M)1,4 Production consistent with the low end $333 320-355 of quarterly guidance $278 $135 $131 135-150 125 St
Slide 4: Q1 2025 highlights & upcoming catalysts
Q1 2025 highlights & upcoming catalysts Recent Highlights ✓ Jan 2025: Received Environmental Permit Amendment allowing for PDA construction ✓ Feb 2025: Burnt Timber & Linkwood study completed, enhancing Lynn Lake economics ✓ Feb 2025: 31% increase in year-end Mineral Reserves to 14M oz1,2, including
Slide 5: Strong outlook
Strong outlook Growing, long-life Canadian production; declining cost profile 1,000 $1,281 $1,275 $1,400 24% 900 $1,200 production growth expected by 2027 $1,175 800 $1,200 ~900k oz Production (000 oz Au) 700 600 $1,000 longer-term production rate, ~59% growth 500 from 2024 400 $800 300 8% 200 $600
Slide 6: Fully funded growth with strong ongoing free cash flow
Fully funded growth with strong ongoing free cash flow Consolidated free cash flow outlook (US$M)1,2 Strong ongoing free cash flow $600 while funding high-return growth $500 $400 Significant free cash flow $300 growth 2026 onward driven by completion of growth projects $200 $100 Phase 3+ Expansion (
Slide 7: Financial highlights
Financial highlights Q1 2025A Q1 2024A4 YoY % 2025 Adjusted net earnings (US$M)1,4 Change Guidance $60 Realized gold price (US$/oz) $2,802 $2,069 35% - $51 Operating revenues (US$M) $333 $278 20% - Cash flow from operations (US$M) $80 $109 (27%) - Cash flow from operations, before changes in working
Slide 8: Operational highlights – Island Gold District
Operational highlights – Island Gold District Q1 2025A Q1 2024A4 2025 Guidance Production & mine-site AISC1,3 Gold production (000 oz) 59.2 33.4 275-300 60 $1,750 Total cash costs, per ounce of gold sold1 $1,068 $706 $725-775 $1,500 50 Mine-site all-in sustaining costs, per oz of gold sold1 $1,446 $
Slide 9: Magino mill – optimization driving significant improvements
Magino mill – optimization driving significant improvements Milling rates nearing planned levels (tpd) • Milling rates lower than planned due to deficiencies in initial ore flow design for winter 8,700 conditions, resulting in blockages within undersized transfer chutes 8,200 • Transfer chutes expan
Slide 10: Island Gold Phase 3+ Expansion – progressing well
Island Gold Phase 3+ Expansion – progressing well Shaft area – April 2025 Paste plant – April 2025 Construction Progress in Q1 ✓ Shaft sinking – advanced to a depth of 1,055 m by the end of Q1, currently ✓ Water handling facility – completed interior cladding & concrete slabs at a depth of 1,154 m (
Slide 11: Island Gold Phase 3+ Expansion – on track for completion H1 2026
Island Gold Phase 3+ Expansion – on track for completion H1 2026 75% of total Phase 3+ growth capital Shaft sink at 1,154 m by end of April; spent & committed to date2 ~84% of ultimate planned depth (in US$M) As of March 31, 2025 Growth Capital P3+ Estimate Spent to Committed to % Spent & (including
Slide 12: Operational highlights – Young-Davidson
Operational highlights – Young-Davidson Q1 2025A Q1 2024A 2025 Guidance Production & mine-site AISC1 60 $1,700 Gold production (000 oz) 35.4 40.1 175-190 50 $1,500 Total cash costs, per ounce of gold sold1 $1,350 $1,188 $1,075-1,125 40 $1,300 30 $1,100 Mine-site all-in sustaining costs, per ounce of
Slide 13: Operational highlights – Mulatos District
Operational highlights – Mulatos District Production & mine-site AISC1 Mulatos District Q1 2025A Q1 2024A 2025 Guidance 70 $1,500 Gold production (000 oz) – Mulatos District 30.4 62.2 130-140 60 $1,200 Total cash costs, per ounce of gold sold1 $1,233 $840 $925-975 50 40 $900 Mine-site all-in sustain
Slide 14: Alamos Gold – value creation opportunities
Alamos Gold – value creation opportunities Growing, diversified, Expanding margins Conservative, Sustainable business intermediate gold & profitability low-risk strategy model supporting growing producer returns over the long-term 2025 Catalysts Lynn Lake Burnt Timber & 31% increase in YE2024 Island
Slide 15: Appendices
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Slide 16: Board of Directors, Executive and Management Team
Board of Directors, Executive and Management Team Board of Directors J. Robert S. Prichard John A. McCluskey Elaine Ellingham David Fleck David Gower Tony Giardini Claire M. C. Kennedy Monique Mercier Shaun Usmar Chairman Director Director Director Director Director Director Director Director Execut
Slide 17: 2025 guidance
2025 guidance 2025 Guidance 2024A Island Young- Mulatos District Lynn Lake Total Total Gold District Davidson Gold production (000 oz) 275 - 300 175 - 190 130 - 140 - 580 - 630 567 Total cash costs1 ($/oz) $725 - 775 $1,075 - 1,125 $925 - 975 - $875 - 925 $927 All-in sustaining costs1 ($/oz) $1,250
Slide 18: 2025 - 2027 guidance
2025 - 2027 guidance1 2025 2026 2027 Gold Production (000 oz) Island Gold District 275 - 300 330 - 355 375 - 400 Young-Davidson 175 - 190 180 - 195 180 - 195 Mulatos District 130 - 140 120 - 130 125 - 135 Total Gold Production (000 oz) 580 - 630 630 - 680 680 - 730 Total Cash Costs1 ($/oz) $875 - 92
Slide 19: Total Proven & Probable Mineral Reserves
Total Proven & Probable Mineral Reserves PROVEN AND PROBABLE GOLD RESERVES (as at December 31, 2024) Proven Reserves Probable Reserves Total Proven and Probable Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) Isla
Slide 20: Total Measured & Indicated Mineral Resources
Total Measured & Indicated Mineral Resources MEASURED AND INDICATED GOLD MINERAL RESOURCES (as at December 31, 2024) Measured Resources Indicated Resources Total Measured and Indicated Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000'
Slide 21: Total Inferred Mineral Resources
Total Inferred Mineral Resources INFERRED GOLD MINERAL RESOURCES (as at December 31, 2024) Tonnes Grade Ounces (000's) (g/t Au) (000's) Island Gold 7,106 16.52 3,774 Magino 40,383 0.91 1,177 Young-Davidson - Surface 31 0.99 1 Young-Davidson - Underground 1,880 3.25 197 Total Young-Davidson 1,911 3.2
Slide 22: Notes to Mineral Reserve and Resource estimates
Notes to Mineral Reserve and Resource estimates Qualified Persons Chris Bostwick, FAusIMM, Alamos Gold’s Senior Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Chris Bostwick is a Qualified Person within the meani
Slide 23: Cautionary Note to U.S. Investors
Cautionary Note to U.S. Investors Alamos prepares its disclosure in accordance with the requirements of securities laws in effect in Canada. Unless otherwise indicated, all Mineral Resource and Mineral Reserve estimates included in this Presentation have been prepared in accordance with National Ins
Slide 24: Investor Relations contacts
SCOTT K. PARSONS, CFA SVP, Corporate Development & Investor Relations 416.368.9932 x 5439 ir@alamosgold.com KHALID ELHAJ, P.ENG., CFA VP, Business Development & Investor Relations 416.368.9932 x 5427 ir@alamosgold.com