Slide 1: Fourth Quarter and Full Year 2025 Results
NYSE & TSX: AEM Fourth Quarter and Full Year 2025 Results February 13, 2026
Slide 2: Notes to Investors – Forward-Looking Statements
Notes to Investors Forward-Looking Statements The information in this presentation has been prepared as at February 12, 2026. Certain statements contained in this presentation constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of
Slide 3: Highlights – High-Quality, Consistent, Resilient Business
Highlights – High-Quality, Consistent, Resilient Business 1 2 3 Delivering on Our Strongly Positioned for Advancing Our Next Commitments the Next Three Years Phase of Growth Achieved above mid-point of Stable annual production through 2028 Potential to increase annual gold production guidance with r
Slide 4: Strongest Position in Our History – Potential 20% to 30% Production Growth
Strongest Position in Our History – Potential 20% to 30% Production Growth Detour Lake Canadian Malartic Upper Beaver Hope Bay San Nicolás (Ontario) (Quebec) (Ontario) (Nunavut) (Mexico, 50%) Pathway to 1Moz Pathway to 1Moz Unlocking Potential in Potential 400-425koz Joint Venture with Annual Produc
Slide 5: Financial Highlights – Continuing to Deliver Leverage to Higher Gold Prices
Financial Highlights – Continuing to Deliver Leverage to Higher Gold Prices Gold Production and Total Cash Costs Q4 2025 Q4 2024 FY 2025 FY 2024 1,200 Realized Gold Price1 ($/oz) $4,163 $2,660 $3,454 $2,384 900 Gold Production2 (koz) 841 847 3,447 3,485 600 Production Costs ($/oz) $1,113 $881 $965 $
Slide 6: Disciplined Approach to Capital Allocation
Disciplined Approach to Capital Allocation Dividend Distribution 2025 Operating Cash Flow Allocation* * Chart segments are indicative only Dividends paid since 1983 Quarterly dividend paid of $0.40 per share, totalling $803M in 2025 Sustaining Increased quarterly dividend by 12.5% to $0.45 per share
Slide 7: Updated Three-Year Guidance – Stable Production at Peer-Leading Costs
Updated Three-Year Guidance – Stable Production at Peer-Leading Costs 2026 Guidance1 Range Mid-point Production Guidance (Moz) 3.3 – 3.5 3.4 Total Cash Costs2 ($/oz) $1,020 – $1,120 $1,070 AISC2 ($/oz) $1,400 – $1,550 $1,475 Capital Expenditures2,3,4 ($M) $2,175 – $2,395 $2,285 Capitalized Explorati
Slide 8: Operational Highlights – Quebec, Nunavut, Finland
Operational Highlights – Quebec, Nunavut, Finland 2025 Results Strong production led by LaRonde and Canadian Malartic Record annual throughput at Meliadine and Goldex At Kittila, optimization initiatives continued to sustain productivity gains with a decrease in minesite cost per tonne (€) of 4% com
Slide 9: Pipeline Projects – “Fill-the-Mill” Strategy at Canadian Malartic
Pipeline Projects – “Fill-the-Mill” Strategy at Canadian Malartic Evolution of Gold Mineral Pathway to 1Moz Annual Producer – Reserves and Mineral Resources Potential for additional 400-500koz/year Since June 2023 Technical Update1 – Odyssey, Marban and Wasamac June 2023 study included 9Moz in mine
Slide 10: Pipeline Projects – Hope Bay
Pipeline Projects – Hope Bay Potential 400-425koz Annual Producer Evolution of Gold Mineral Reserves and Mineral Resources in Nunavut1 Since Acquisition in 2021 In 2025, advanced site preparations for potential redevelopment, including: • Upgrades to camp facilities 3 • Expansion of the port jetty •
Slide 11: Operational Highlights – Ontario, Australia, Mexico
Operational Highlights – Ontario, Australia, Mexico 2025 Results Gold production by region in line with plan, with record annual production at Macassa Macassa and Fosterville outperformed due to higher grades while Detour Lake was affected by adverse weather and slower progress around the historical
Slide 12: Pipeline Projects – Detour Lake
Pipeline Projects – Detour Lake Evolution of Gold Mineral Resource Pathway to 1Moz Annual Producer – Potential of High-Grade Mineralized Corridor Amenable to Underground Mining for additional 300-350koz/year1 Since June 2024 Technical Update Proposed underground operation with ~11,200 tpd mining rat
Slide 13: Pipeline Projects – Upper Beaver
Pipeline Projects – Upper Beaver Potential Annual Production of 200-220koz Gold and 3.6kt Copper1 Planned mining and milling rate of ~4,500 tpd Progress in 2025 • Exploration ramp progressed by 507m to depth of 70m • Headframe and hoist room were Upper Beaver operations commissioned and shaft sinkin
Slide 14: Record Gold Mineral Reserves and Record Gold Mineral Resources
Record Gold Mineral Reserves and Record Gold Mineral Resources 2025 Results Gold Mineral Reserves and Gold mineral reserves – Increase of ~2% to a record of 55.4 million ounces Gold Mineral Resources1 (Moz) • Strong mineral reserve replacement results across many mine sites and initial mineral reser
Slide 15: Odyssey – Growing a World-Class Asset
Odyssey – Growing a World-Class Asset East Gouldie deposit – Significant upgrade of mineral resources, with Highlights – Mineral Reserves and Mineral Resources drilling continuing to extend the limits of the inferred mineral resource East Gouldie – 62% increase year-over-year in inferred mineral lat
Slide 16: Detour Lake – Canada’s Largest Gold Mine with Room to Grow
Detour Lake – Canada’s Largest Gold Mine with Room to Grow Expansion and upgrade of mineral resources – Drilling continued to expand Highlights – Mineral Reserves and Mineral Resources and infill the mineralization below and to the west of the mineral resource, with high intensity drilling program i
Slide 17: Hope Bay – Continued Exploration Success at Madrid
Hope Bay – Continued Exploration Success at Madrid Hope Bay – Drilling success at Patch 7 resulted in 40% increase in total inferred Highlights – Mineral Reserves and Mineral Resources mineral resources at 10% higher grade to 3.2Moz (16.9Mt grading 5.98 g/t) Inferred mineral resources – 40% increase
Slide 18: Advancing Next Phase of Growth
Advancing Next Phase of Growth High-quality project pipeline with the potential to increase annual gold production by 20% to 30% over the next decade Production Anticipated Key Project Ramp-up Incremental Hammond Reef Timmins East Northern Territory Year Annual Production1 (Ontario) (Ontario) (Austr
Slide 19: High-Quality Business Generating Strong Returns
High-Quality Business Generating Strong Returns Low-Risk Highest Quality Strategic Strong Mining Jurisdictions Senior Gold Producer Regional Focus Financial Returns Multi-mine, multi-decade High sustainability High-quality project Emphasis on per share geologic potential standards with multi- pipeli
Slide 20: Appendix
Appendix NYSE & TSX: AEM Q4 AND FULL YEAR 2025 RESULTS
Slide 21: 2025 Gold Mineral Reserves and Mineral Resources
2025 Gold Mineral Reserves and Mineral Resources* As at December 31, 2025 As at December 31, 2024 Category Tonnes Grade Contained Gold Tonnes Grade Contained Gold (000s) (g/t Au) (000s oz) (000s) (g/t Au) (000s oz) Mineral Reserves Proven 212,796 0.98 6,731 215,249 0.93 6,433 Probable 1,116,755 1.36
Slide 22: 2025 Mineral Reserves and Mineral Resources
2025 Mineral Reserves and Mineral Resources Mineral Reserves as at December 31, 2025 Operation / Project Proven Probable Proven & Probable Mining 000 000 000 000 000 000 Metallurgical Gold g/t g/t g/t Method* Tonnes Oz Au Tonnes Oz Au Tonnes Oz Au Recovery (%) LaRonde mine1 U/G 2,469 4.65 369 8,158
Slide 23: 2025 Mineral Reserves and Mineral Resources (continued)
2025 Mineral Reserves and Mineral Resources (continued) Mineral Reserves as at December 31, 2025 Operation / Project Proven Probable Proven & Probable Mining Metallurgical Silver 000 Tonnes g/t 000 Oz Ag 000 Tonnes g/t 000 Oz Ag 000 Tonnes g/t 000 Oz Ag Method* Recovery (%) LaRonde mine U/G 2,469 10
Slide 24: 2025 Mineral Reserves and Mineral Resources (continued)
2025 Mineral Reserves and Mineral Resources (continued) Mineral Resources as at December 31, 2025 Operation / Project Measured Indicated Mesaured & Indicated Inferred Mining Gold Method 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 LaRonde mine U
Slide 25: 2025 Mineral Reserves and Mineral Resources (continued)
2025 Mineral Reserves and Mineral Resources (continued) Mineral Resources as at December 31, 2025 Operation / Project Measured Indicated Mesaured & Indicated Inferred Mining Gold 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 Method Amaruq O/P — —
Slide 26: 2025 Mineral Reserves and Mineral Resources (continued)
2025 Mineral Reserves and Mineral Resources (continued) Mineral Resources as at December 31, 2025 Operation / Project Measured Indicated Mesaured & Indicated Inferred Silver Mining Method 000 Tonnes g/t 000 Oz Ag 000 Tonnes g/t 000 Oz Ag 000 Tonnes g/t 000 Oz Ag 000 Tonnes g/t 000 Oz Ag LaRonde mine
Slide 27: Notes to Investors – Regarding the Use of Mineral Resources
Notes to Investors 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 Disclosur
Slide 28: Notes to Investors – Regarding the Use of Mineral Resources
Notes to Investors Notes to Investors Regarding the Use of Mineral Resources 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 reso
Slide 29: Notes to Investors – Regarding Certain Measures of Performance
Notes to Investors Notes to Investors Regarding Certain Measures of Performance This presentation discloses certain financial performance measures, including "total cash costs per ounce", "all-in sustaining costs per ounce" (or "AISC per ounce"), "adjusted net income", "adjusted net income per share
Slide 30: Investor Relations
NYSE & TSX: AEM Investor Relations 416-947-1212 investor.relations@agnicoeagle.com agnicoeagle.com