Slide 1: First Quarter 2025 Results
First Quarter 2025 Results April 25, 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 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 199
Slide 3: First Quarter 2025 Highlights
First Quarter 2025 Highlights Operational Performance, Cost Control and Capital Discipline Delivering Leverage to Record Gold Prices Odyssey shaft sinking Macassa #4 Shaft Amaruq open pit deposit Meliadine operations 1) Strong Overall Performance, Well Positioned for the Year Well positioned to achi
Slide 4: Sustainability – Global Approach, Regional Focus
Sustainability – Global Approach, Regional Focus 2024 Sustainability Report Highlights: “Towards Zero Accidents" – Continued journey towards zero accidents by focusing on visible felt leadership, risk identification and mitigation Approach to climate change – Decarbonization efforts focused on e
Slide 5: Financial Highlights
Financial Highlights Strong Cash Flow Generation Driven by Record Operating Margins Per Share Results Q1 2025 Q1 2024 $2.50 Realized Gold Price1 ($/oz) $ 2,891 $ 2,062 $2.00 $1.53 Gold Production2 (koz) 874 879 Adjusted Net $1.50 $1.26 $1.14 Income per $1.07 Production Costs ($/oz) $ 879 $ 892 Share
Slide 6: Balance Sheet Strength and Financial Flexibility
Balance Sheet Strength and Financial Flexibility Net Debt Further Reduced Through Continued Strong Free Cash Flow Generation Free Cash Flow1 ($M) Strengthening Financial Position $620 $594 $557 $570 Strong liquidity – $1.1B cash and $2B undrawn credit facility $90M current debt, $1.05B long-term
Slide 7: Balanced Approach to Capital Allocation
Balanced Approach to Capital Allocation Returned ~42% of Free Cash Flow to Shareholders in Q1 20251,2 Q1 2025 Dividend Distribution Operating Cash Flow Allocation* • Dividends paid since 1983 • Quarterly dividend currently $0.40 per share Share Buyback • Intention to renew buyback program in May
Slide 8: Operational Highlights – Quebec, Nunavut, Finland
Operational Highlights – Quebec, Nunavut, Finland Strong Operational Performance Driven by Higher Grades Q1 2025 Results Strong Q1 2025 production led by LaRonde and Canadian Malartic primarily due to higher grades Record quarterly production at Odyssey and record throughput at Meliadine, achiev
Slide 9: Advancing Pipeline Projects – Canadian Malartic Vision to 1Moz Producer
Advancing Pipeline Projects – Canadian Malartic Vision to 1Moz Producer Odyssey – Transition to Underground Mine Expected to be Canada’s largest underground gold mine (~550koz/yr) Development of Odyssey progressing on schedule • Main ramp reached bottom of 1st mining horizon at East Gouldie • Sh
Slide 10: Operational Highlights – Ontario, Australia, Mexico
Operational Highlights – Ontario, Australia, Mexico Seven Million Ounce Milestone Achieved at Detour Lake; Record Performance at Macassa Q1 2025 Results Gold production on target for Ontario platform Macassa achieved multiple records on safety, quarterly production and development Detour Lake
Slide 11: 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 12: Hope Bay Exploration – Expansion and Conversion Drilling at Patch 7
Hope Bay Exploration – Expansion and Conversion Drilling at Patch 7 Suluk Suluk Patch 7 Gravel track extension to the south Suluk Patch 7 Mineralised Trend 0 100 200 Metres Gravel track and drilling platforms at Suluk and Patch 7 Exploration drilling on ice Q1 2025 Results 12
Slide 13: Hope Bay – Continued Exploration Success at Madrid
Hope Bay – Continued Exploration Success at Madrid Hope Bay (Moz) Inferred M&I* P&P** Mined Since Acquisition 2 2 2 1 3 3 At Acquisition Dec. 31, 2024 2021 * Measured and indicated ** Proven and probable Highlight Intercepts: Patch 7 – Shallow drilling supports potential for mineral resource expansi
Slide 14: Odyssey – Potential to Expand a World-Class Asset
Odyssey – Potential to Expand a World-Class Asset Canadian Malartic (Moz) Inferred M&I* 10 P&P** Mined Since Acquisition 3 1 7 2 9 7 At Acquisition Dec. 31, 2024 2014 (100%) * Measured and indicated ** Proven and probable Highlight Intercepts: East Gouldie deposit – Conversion drilling of upper east
Slide 15: Detour Lake – Continue to Expand Underground Mineralization
Detour Lake – Continue to Expand Underground Mineralization Detour Lake (Moz) Inferred 7 M&I* P&P** Mined Since 16 Acquisition 1 4 19 15 4 At Acquisition Dec. 31, 2024 2020 * Measured and indicated ** Proven and probable Highlight Intercepts: West Pit zone – High intensity drilling in deeper portion
Slide 16: 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 17: Appendix
Appendix
Slide 18: 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 19: 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 20: 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 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 LaRo
Slide 22: 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 23: 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 24: 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 25: 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 26: Notes to Investors Regarding Certain Measures of Performance (continued)
Notes to Investors Regarding Certain Measures of Performance (continued) Breakdown of Mine Site Operating Statistics Q1 2025 Gold Production Total Cash Operating Mine Site Production1 Costs Costs2 Margin2 (koz) ($/oz) ($/oz) ($ millions) LaRonde 91 $947 $745 $192 Canadian Malartic 160 $747 $927 $303
Slide 27: agnicoeagle.com
Trading Symbol: AEM on TSX & NYSE Investor Relations: 416-947-1212 info@agnicoeagle.com agnicoeagle.com