Agnico Eagle Mines Limited · TSX:AEM
Agnico Eagle Mines — Q2 2025 Earnings Presentation
26 slides from Agnico Eagle Mines's earnings presentation, Jul 31, 2025
Slide 1: Second Quarter 2025 Results
Second Quarter 2025 Results July 31, 2025
Slide 2: Notes to Investors: Forward-Looking Statements
Notes to Investors Forward-Looking Statements The information in this presentation has been prepared as at July 30, 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
Slide 3: Second Quarter 2025 Highlights
Second Quarter 2025 Highlights Continued Track Record of Execution – Consistent Operational Performance, Cost Control and Capital Discipline Kittila operations Macassa operations Goldex operations Odyssey construction milestones achieved 1) Record Financial Results Driven by Strong Operational Perfo
Slide 4: Financial Highlights
Financial Highlights Record Free Cash Flow Driven by Cost Control and Higher Gold Prices Gold Production and Total Cash Costs3 Q2 2025 Q2 2024 Q2 YTD Q2 YTD 2025 2024 1,000 Realized Gold Price1 ($/oz) $3,288 $2,342 $3,090 $2,202 Gold Production2 (koz) 866 896 1,740 1,774 800 Payable Gold Production
Slide 5: Continued Strengthening of Financial Performance
Continued Strengthening of Financial Performance Transition to Net Cash Position and Repayment of Long-term Debt Free Cash Flow1 ($M) Cash Position ($M) Net Cash (Debt)1 Position ($M) $1,305 $1,558 $1,138 $977 $963 $926 $620 $570 $594 ($217) ($5) ($490) Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2024 2024
Slide 6: Disciplined Approach to Capital Allocation
Disciplined Approach to Capital Allocation Returned ~1/3 of Free Cash Flow to Shareholders in H1 20251,2 H1 2025 Dividend Distribution Operating Cash Flow Allocation** • Dividends paid since 1983 ** Chart segments are indicative only • Quarterly dividend currently $0.40 per share Share Buyback S
Slide 7: Operations Highlights – Quebec, Nunavut, Finland
Operations Highlights – Quebec, Nunavut, Finland Strong Operational Performance Driven by Higher Gold Grades Q2 2025 Results Strong production led by LaRonde and Canadian Malartic, primarily due to higher gold grades Nunavut gold production affected by extended caribou migration Record quarter
Slide 8: Advancing Pipeline Projects – Canadian Malartic Vision to 1Moz Producer
Advancing Pipeline Projects – Canadian Malartic Vision to 1Moz Producer Odyssey – Development Progressing on Budget and on Schedule Expected to be Canada’s largest underground gold mine (~550koz/yr) • Service hoist (level 64) reached design capacity of 3,500tpd in May 2025 • Shaft reached a depth
Slide 9: Operations Highlights – Ontario, Australia, Mexico
Operations Highlights – Ontario, Australia, Mexico Strong Throughput and Mill Run-time at Detour Lake; Gold Production on Target for Ontario Platform Q2 2025 Results Second consecutive quarter of record gold production at Macassa Detour Lake production affected by lower gold grades Exploration
Slide 10: Advancing Pipeline Projects – Ontario
Advancing Pipeline Projects – Ontario Detour Lake World-class asset – Largest producing mine in Canada; mine life until 2050s, including potential underground operation Outlined pathway to 1Moz annual production beginning in 2030; mill optimization to 29mtpa ongoing Development of 2km explorat
Slide 11: Q2 2025 Exploration Highlights – Delivering on Areas of Focus for 2025
Q2 2025 Exploration Highlights – Delivering on Areas of Focus for 2025 Exploration Program Supported by 121 Active Drill Rigs Across the Company Areas of Focus Focus on innovation to enhance productivity and cost control • ~670,000m drilled in H1 2025 – 101% of plan delivered • Achieved an average
Slide 12: Odyssey – Growing a World-Class Asset
Odyssey – Growing a World-Class Asset Highlight Intercepts: East Gouldie (EG) deposit – Expansion and conversion drilling of upper EG Upper Eastern Extension – 5.7 g/t gold over 17.7m at 882m depth eastern and lower eastern extensions continue to yield positive results EG Lower Eastern Extension
Slide 13: Detour Lake – Canada's Largest Gold Mine with Room to Grow
Detour Lake – Canada’s Largest Gold Mine with Room to Grow Highlight Intercepts: West Pit zone – High intensity drilling in deeper portion of the zone continued to validate the current geological interpretation of the high-grade corridor West Pit – 3.4 g/t gold over 67.2m at 390m depth West Extens
Slide 14: Hope Bay – Continued Exploration Success at Madrid
Hope Bay – Continued Exploration Success at Madrid Highlight intercept hole Patch 7 – Conversion and expansion drilling HBM25-345 at Patch-7 continue to support potential for mineral resource 53.3 g/t gold (uncapped) expansion or 25.7 g/t gold (capped*) over 8.4m at 754m depth Gap area between Sul
Slide 15: High-Quality Business Positioned to Generate Strong Returns
High-Quality Business Positioned to Generate Strong Returns Low-Risk Mining Highest Quality Senior Uniquely Positioned Strong Financial Returns Jurisdictions Gold Producer High-quality project pipeline in Emphasis on per share value Multi-mine, multi-decade High sustainability standards core operati
Slide 16: Appendix
Appendix
Slide 17: 2024 Gold Mineral Reserves and Mineral Resources
2024 Gold Mineral Reserves and Mineral Resources Replacement of Gold Mineral Reserves and Expansion of Inferred Mineral Resources in 2024 As at December 31, 2024 As at December 31, 2023 Category Tonnes Grade Contained Gold Tonnes Grade Contained Gold (000s) (g/t Au) (000s oz) (000s) (g/t Au) (000s o
Slide 18: 2024 Mineral Reserves and Mineral Resources
2024 Mineral Reserves and Mineral Resources* Mineral Reserves as at December 31, 2024 Operation / Project Proven Probable Proven & Probable Metallurgical Metallurgical Metallurgical Gold Mining Method AEM Share 000 Tonnes g/t 000 Oz Au Recovery (%) 000 Tonnes g/t 000 Oz Au Recovery (%) 000 Tonnes g/
Slide 19: 2024 Mineral Reserves and Mineral Resources (continued)
2024 Mineral Reserves and Mineral Resources (continued) Mineral Reserves as at December 31, 2024 Operation / Project Proven Probable Proven & Probable Silver Mining Method* AEM Share 000 Tonnes g/t 000 Oz Ag Metallurgical 000 Tonnes g/t 000 Oz Ag Metallurgical 000 Tonnes g/t 000 Oz Ag Metallurgical
Slide 20: 2024 Mineral Reserves and Mineral Resources (continued)
2024 Mineral Reserves and Mineral Resources (continued) Mineral Resources as at December 31, 2024 Operation / Project Measured Indicated Measured & Indicated Inferred Gold Mining Method AEM Share 000 Tonnes g/t 000 Oz Au 000 Tonnes g/t 000 Oz Au 000 Tonnes g/t 000 Oz Au 000 Tonnes g/t 000 Oz Au LaRo
Slide 21: 2024 Mineral Reserves and Mineral Resources (continued)
2024 Mineral Reserves and Mineral Resources (continued) Mineral Resources as at December 31, 2024 Operation / Project Measured Indicated Measured & Indicated Inferred Gold Mining Method AEM Share 000 Tonnes g/t 000 Oz Au 000 Tonnes g/t 000 Oz Au 000 Tonnes g/t 000 Oz Au 000 Tonnes g/t 000 Oz Au Pino
Slide 22: Notes to Investors Regarding the Use of Mineral Resources
Notes to Investors Regarding the Use of Mineral Resources The mineral reserve and mineral resource estimates contained in this presentation have been prepared in accordance with the Canadian securities administrators' (the "CSA") National Instrument 43-101 – Standards of Disclosure for Mineral Proje
Slide 23: Notes to Investors Regarding the Use of Mineral Resources (continued)
Notes to Investors Regarding the Use of Mineral Resources (continued) NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated mineral resources"
Slide 24: Notes to Investors Regarding Certain Measures of Performance
Notes to Investors Regarding Certain Measures of Performance This presentation discloses certain financial performance measures and ratios, including "total cash costs per ounce", "all-in sustaining costs per ounce", "adjusted net income", "EBITDA" which means earnings before interest, taxes, deprec
Slide 25: Notes to Investors Regarding Certain Measures of Performance (continued)
Notes to Investors Regarding Certain Measures of Performance (continued) Breakdown of Mine Site Operating Statistics Q2 2025 Q2 2025 YTD Gold Production Total Cash Operating Gold Production Total Cash Operating Mine Site Production1 Costs Costs3 Margin3 Production2 Costs Costs3 Margin3 (koz) ($/oz)
Slide 26: agnicoeagle.com
Trading Symbol: AEM on TSX & NYSE Investor Relations: 416-947-1212 info@agnicoeagle.com agnicoeagle.com