Alamos Gold Inc. · TSX:AGI
Alamos Gold — Q4 2021 Earnings Presentation
25 slides from Alamos Gold's earnings presentation, Feb 24, 2022
Slide 1: Fourth Quarter and Year-End 2021 Results Presentation
Fourth Quarter and Year-End 2021 Results Presentation February 24, 2022
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: Q4 & full-year 2021 highlights
Q4 & full-year 2021 highlights YoY % YoY % Revised 2021 Gold production (000 oz) Q4 2021A Q4 2020A 2021A 2020A Change Change Guidance4 457 427 Gold production (000 oz) 112.5 120.4 -7% 457.2 426.8 7% 455-495 Gold sales (000 oz) 113.0 121.8 -7% 457.5 424.3 8% - 120 113 Total cash costs (US$/oz)1 $843
Slide 4: Three-year outlook – expanding profitability
Three-year outlook – expanding profitability Gold production1 (000 oz) Total cash costs1,3 (US$/oz) All-in sustaining costs1,2,3,4 (US$/oz) Capital expenditures, operating mines1,3,5 (US$M) 460-500 460-500 $1,190-1,240 $1,075-1,175 440-480 $875-925 $950-1,050 $290-330 $775-875 $220-260 $230-270 $650
Slide 5: Growing, long-life North American production; declining cost profile
Growing, long-life North American production; declining cost profile Fully funded internal growth ~750k oz annual production potential by 2025 at ~$800/oz AISC1 $1,215 $1,135 $1,125 800 $1,000 700 $800 Lynn Lake3 Production (000 oz Au) 600 13 year reserve life2 500 460 - 500 460 - 500 Mulatos 457 44
Slide 6: Financial highlights
Financial highlights Revised Cash flow from operations, before YoY % YoY % Q4 2021A Q4 2020A Change 2021A 2020A Change 2021 changes in working capital (US$M) 1 Guidance3 $411 Realized gold price (US$/oz) $1,798 $1,860 -3% $1,800 $1,763 2% - $383 Operating revenues (US$M) $203 $227 -10% $824 $748 10%
Slide 7: Operational highlights – Young-Davidson
Operational highlights – Young-Davidson Revised 2021 Production & mine-site AISC1 Q4 2021A Q4 2020A 2021A 2020A 2022 Guidance Guidance3 Northgate Shaft Gold production (koz) 51.9 48.0 195.0 136.2 190-205 185-200 60 shutdown $1,900 Total cash costs, per ounce of gold sold1 $775 $792 $846 $1,019 ~$850
Slide 8: Operational highlights – Island Gold
Operational highlights – Island Gold Revised 2021 Production & mine-site AISC1 Q4 2021A Q4 2020A 2021A 2020A 2022 Guidance Guidance3 Gold production (koz) 37.5 41.2 140.9 139.0 130-145 125-135 45 $1,500 40 Total cash costs, per ounce of gold sold1 $575 $481 $529 $451 ~$525 $550-600 $1,300 35 Mine-si
Slide 9: Operational highlights – Mulatos
Operational highlights – Mulatos Q4 Q4 Revised 2021 Production & mine-site AISC1 2021A 2020A 2022 Guidance H1 2022 H2 2022 2021A 2020A Guidance3 45 $2,000 Gold production (koz) 23.1 31.2 121.3 150.8 135-145 130-145 45-50 85-95 40 35 $1,600 Total cash costs, per ounce of gold sold1 $1,473 $986 $1,013
Slide 10: La Yaqui Grande – on track to achieve commercial production Q3 2022
La Yaqui Grande – on track to achieve commercial production Q3 2022 Pre-stripping open pit Crusher area Heap leach facility • Construction on schedule; commercial production expected Q3/22 ADR plant • > 21mt waste mined in 2021; mining rates averaged 70k tpd in Q4/21 • Primary, secondary, & tertiary
Slide 11: Consolidated Mineral Reserves & Resources as of December 31, 2021
Consolidated Mineral Reserves & Resources as of December 31, 2021 2021 2020 % Change 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) Mineral Proven & Probable Reserves 201,936 1.58 10,257 204,087 1.50 9,870 -1% 5%
Slide 12: Island Gold – Mineral Reserves additions as of December 31, 2021
Island Gold – Mineral Reserves additions as of December 31,2021 TSX:AGI ǀ NYSE:AGI 12
Slide 13: Island Gold – Mineral Resource additions as of December 31, 2021
Island Gold – Mineral Resource additions as of December 31,2021 TSX:AGI ǀ NYSE:AGI 13
Slide 14: Island Gold – ongoing exploration success driving growth in size & quality
Island Gold – ongoing exploration success driving growth in size & quality Mineral Reserve & Resource Growth Since Acquisition Mineral Reserves 16 5,000 M&I Mineral Resources Significant upside to Phase III expansion study 4,500 Inferred Mineral Resources 14 Mineral Reserve grade • 5.1m oz2 of combi
Slide 15: Alamos Gold – value creation opportunities
Alamos Gold – value creation opportunities Growing, diversified, Expanding margins & Conservative, low-risk Sustainable business intermediate gold profitability strategy model supporting producer growing returns over the long-term Catalysts 1.72 2 ✓ Mineral Reserve and Resource update February 2022
Slide 16: Appendices
Appendices TSX:AGI ǀ NYSE:AGI 16
Slide 17: Board of Directors, Executive and Management Team
Board of Directors, Executive and Management Team Board of Directors Paul J. Murphy John A. McCluskey Elaine Ellingham David Fleck David Gower Claire M. C. Kennedy Monique Mercier J. Robert S. Prichard Kenneth Stowe Chairman Director Director Director Director Director Director Director Director Exe
Slide 18: 2022 guidance
2022 guidance 2022 Guidance 2021A Young-Davidson Island Gold Mulatos Other Total Total Gold production (000 oz) 185-200 125-135 130-145 — 440-480 457 Cost of sales (US$M) (3) — — — — $610 $534 Cost of sales (US$/oz) (3) — — — — $1,325 $1,167 Total cash costs (US$/oz) (1) $850-900 $550-600 $1,225-1,2
Slide 19: 2022 guidance: capital budget
2022 guidance: capital budget 2022 Guidance 2021A2 Sustaining Capital Growth Capital Total Total Operating Mines (US$M) Young-Davidson $50-55 $5-10 $55-65 $82 Island Gold $35-40 $145-160 $180-200 $101 Mulatos $5-10 $50-55 $55-65 $127 Total – Operating Mines $90-105 $200-225 $290-330 $310 Development
Slide 20: 2022 - 2024 guidance: operating mines
2022 - 2024 guidance1: operating mines 2022 2023 2024 Gold Production (000 oz) Young-Davidson 185-200 185-200 185-200 Island Gold 125-135 115-125 140-155 Mulatos 130-145 160-175 135-145 Total Gold Production 440-480 460-500 460-500 Total cash costs (US$/oz) (2) $875-925 $775-875 $650-750 All-in sust
Slide 21: Total Proven & Probable Mineral Reserves
Total Proven & Probable Mineral Reserves PROVEN AND PROBABLE GOLD MINERAL RESERVES (as at December 31, 2021) 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
Slide 22: Total Measured & Indicated Mineral Resources
Total Measured & Indicated Mineral Resources MEASURED AND INDICATED GOLD MINERAL RESOURCES (as at December 31, 2021) 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 23: Total Inferred Mineral Resources
Total Inferred Mineral Resources INFERRED GOLD MINERAL RESOURCES (as at December 31, 2021) Tonnes Grade Ounces (000's) (g/t Au) (000's) Young-Davidson – Surface 31 0.99 1 Young-Davidson – Underground 2,062 3.02 200 Total Young-Davidson 2,093 2.99 201 Island Gold 7,906 13.59 3,454 Mulatos 507 0.92 15
Slide 24: 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 presentation. Chris Bostwick is a Qualified Person within the meani
Slide 25: Scott K. Parsons, CFA
Scott K. Parsons, CFA VP, Investor Relations 416.368.9932 x 5439 sparsons@alamosgold.com TSX:AGI ǀ NYSE:AGI 25