Slide 1: TD Securities Mining Conference
TD Securities Mining Conference January 25 - 26, 2023
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS The information in this presentation has been prepared as at January 24, 2023. Certain statements contained in this presentation constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-lo
Slide 3: Strong Track Record of Value Creation
STRONG TRACK RECORD OF VALUE CREATION Building a Portfolio of High-Quality Assets in Premier Mining Regions that Offer Superior Geological Potential 2005 - 2007 2008 - 2012 2013 - 2016 2017 - 2021 2022 - 2024 Acquisitions in Early- Construction of 5 Mines Consolidating the Abitibi Strengthening the
Slide 4: Superior Leverage to the Gold Price on a Risk-Adjusted Basis
SUPERIOR LEVERAGE TO THE GOLD PRICE ON A RISK-ADJUSTED BASIS Continuing to build a profitable, high-quality, low-risk business based on: Leading position in some of the world’s best gold mining jurisdictions as measured by: • Multi-mine, multi-decade geologic potential • Multi-decade political s
Slide 5: Agnico Eagle: A High-Quality, Low-Risk Senior Gold Producer
AGNICO EAGLE: A HIGH-QUALITY, LOW-RISK SENIOR GOLD PRODUCER Third Largest Global Strong Mineral Strong Mineral Gold Producer Reserve Base Resource Base Simple, Consistent, Proven Approach to Value Creation 3.2 – 3.4 Moz (2022E) Year end 2021 – 44.6Moz M&I: 40Moz (2021) Cash Cost of 725 – 775 $/oz Ma
Slide 6: Business Built on Industry Leading ESG Practices
BUSINESS BUILT ON INDUSTRY LEADING ESG PRACTICES Essential to Deliver on our Regional Strategy and our Vision to Build a Growing, High-Quality, Low Risk, Sustainable Business ESG Stewardship Rating Agency Ranking Scale Partner of choice within the mining industry and the regions in MSCI Rating Lea
Slide 7: Pathway to Decarbonization
PATHWAY TO DECARBONIZATION 30% REDUCTION NET ZERO Absolute GHG Emissions by 2030 Absolute GHG Emissions by 2050 (Scope 1 and Scope 2) (Scope1 and Scope 2) kt/yr CO2e DECARBONIZE Find solutions to reduce carbon emissions at our locations that balance our climate ambitions with our financial framework
Slide 8: Near Term Focus on Optimizing the Portfolio
NEAR TERM FOCUS ON OPTIMIZING THE PORTFOLIO Offer to acquire Canadian assets of Yamana Gold Agnico Eagle to own 100% of Canadian Malartic and to acquire Wasamac project; Transaction expected to close in late Q1 2023 Odyssey Project Construction on schedule, with pre-commercial production exp
Slide 9: A Regional Competitive Advantage in the Abitibi Gold Belt
A REGIONAL COMPETITIVE ADVANTAGE IN THE ABITIBI GOLD BELT Offer to acquire Canadian assets of Yamana Gold – Increase ownership of Canadian Malartic to 100% and acquisition of Wasamac project Complementary to existing Abitibi platform in Ontario and Quebec* Regional consolidation with 5 operati
Slide 10: Odyssey Project – Significant Upside to the East and West of East Gouldie
ODYSSEY PROJECT – SIGNIFICANT UPSIDE TO THE EAST AND WEST OF EAST GOULDIE Recent drilling has extended East Gouldie to the west by ~670m and to the east at depth by ~500m to more than 1,700m from the current mineral resources outline onto the adjacent Rand Malartic property, demonstrating signific
Slide 11: Detour – Exploration Expected to Drive Future Mineral Resource Growth
DETOUR – EXPLORATION EXPECTED TO DRIVE FUTURE MINERAL RESOURCE GROWTH Potential to Continue Growing "Out-pit" Mineralization Two Kilometres West of the Current Resource Pit Projects to increase mill throughput to 28Mtpa continue to advance as planned Continued success in extending the mineralize
Slide 12: Macassa – Potential to Create a Regional Mining Complex
MACASSA – POTENTIAL TO CREATE A REGIONAL MINING COMPLEX Exploration focused on extending and infilling the South Mine Complex and Main Break along strike and at depth Underground Drilling at Macassa Intersects High Grade Gold Mineralization on Four Mine Levels Drilling on the 5300 level focused
Slide 13: High Quality Project Pipeline to Drive Future Growth
HIGH QUALITY PROJECT PIPELINE TO DRIVE FUTURE GROWTH Low Risk, Regional Growth ADVANCED PIPELINE PROJECTS MEDIUM TERM VALUE DRIVERS ESTIMATED Hope Bay – Evaluating the potential to develop a 4,000tpd 1,2 GROWTH PROJECT STAGE ANNUAL TIMELINE PRODUCTION CAPITAL underground operation Hope Bay Advance
Slide 14: Assessing the Full Potential of the Portfolio Through Exploration
ASSESSING THE FULL POTENTIAL OF THE PORTFOLIO THROUGH EXPLORATION Focus on Growing Mineral Reserves & Mineral Resources, Near Mine Opportunities and Pipeline Projects Targeting growth of the Company's mineral reserves and mineral resources at year-end 2022 to a record level Exploration continues
Slide 15: Hope Bay – Expanding the Doris Deposit
HOPE BAY – EXPANDING THE DORIS DEPOSIT Mineralization remains open in all directions; testing the extension of mineralization along strike to the south and to the north Testing the deep extensions below the dike to expand the BTD Extension, Connector and Central zones with a focus on infilling g
Slide 16: High-Quality, Low-Risk Senior Gold Producer
HIGH-QUALITY, LOW-RISK SENIOR GOLD PRODUCER Generating Superior Long- Term Returns to Shareholders Q3 YTD 2022 YTDResults Q3 2022 Production Total Cash Costs Strong Growth in Operating Margin (Gold oz) ($/oz) LaRonde Complex 276,168 $666 Canadian Malartic (50%) 242,957 787 Strong Financial Posit
Slide 17: Key Takeaways
KEY TAKEAWAYS Best quarterly safety performance recorded in Q3 2022 in the Company’s 65-year history Delivering strong operational performance Excellent operating results YTD 2022 – Record gold production and good cost control result-in strong earnings and cashflow Gold production, cost and
Slide 18: Agnico Eagle's Vision
AGNICO EAGLE’S VISION Agnico Eagle is the choice for investors looking for superior leverage to the gold price, on a risk-adjusted basis Agnico Eagle has a simple, consistent, disciplined and proven approach to value creation Low costs, strong margins and cashflows Robust production profile
Slide 19: Operations Update
OPERATIONS UPDATE
Slide 20: 2022 Highlights – First Nine Months of 2022
2022 HIGHLIGHTS – FIRST NINE MONTHS OF 2022 Strong performance gold production and costs – Year-to-date payable gold production was 2,360koz at production costs/oz of $846, total cash costs/oz of $769 and AISC/oz of $1,067 Ontario and Nunavut platforms drive solid operational performance includi
Slide 21: Operating and Financial Results
OPERATING AND FINANCIAL RESULTS Strong Quarterly and Year-To-Date Production and Costs Q3 2022 YTD Q3 2022 Production Total Cash Costs Operating Margin Production Total Cash Costs Operating Margin (Gold oz) ($/oz) ($000’s) (Gold oz) ($/oz) ($000’s) LaRonde Complex 82,621 $818 $97,317 276,168 $666 $3
Slide 22: Abitibi Region – Quebec
ABITIBI REGION – QUEBEC Production Q3 YTD 2022 Production Highlights and Costs LaRonde Complex 276,168 ozs • In 2022, the development rate has been lower than the forecast because of supplemental ground support requirements at the East mine and revised seismic protocols. This delay in lateral develo
Slide 23: Abitibi Region – Ontario
ABITIBI REGION – ONTARIO Production Q3 YTD 2022 Production Highlights and Costs* Detour Lake 471,445 ozs* • Q3 YTD 2022, gold production at Detour Lake was 553koz at the end of Q3 2022 • Several projects are underway to progressively increase the mill throughput to 28Mtpa by 2025. In Q3 2022 pre-scr
Slide 24: Nunavut
NUNAVUT Production Q3 YTD 2022 Production Highlights and Costs Meliadine 265,787 ozs • Q3 2022 underground development was lower than forecast, impacted by a pause in activities during the caribou migration in July, lower equipment availability and a longer-than-planned electrical shutdown. However,
Slide 25: Australia and Finland
AUSTRALIA AND FINLAND Production Q3 YTD 2022 Production Highlights and Costs Fosterville (Australia) 249,693 ozs* • Q3 YTD 2022, gold production at Fosterville was 295koz which is ahead of forecast from a solid operational performance and higher grades mined in 2022 • Mine production continues to be
Slide 26: Mexico
MEXICO Production Q3 YTD 2022 Production Highlights and Costs Pinos Altos 94,191 ozs • At Santo Niño and Cerro Colorado, significantly more rehabilitation work was required than expected in 2022, which resulted in lower-than-planned underground development and stope preparation. These delays have af
Slide 27: Mineral Reserves and Mineral Resources
Mineral Reserves and Mineral Resources
Slide 28: Notes to Investors Regarding the Use of Mineral Resources
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 resources" and "inferre
Slide 29: Mineral Reserves as at December 31, 2021 for Properties Held by Agnico Eagle
MINERAL RESERVES AS AT DECEMBER 31, 2021 FOR PROPERTIES HELD BY AGNICO EAGLE PRIOR TO THE MERGER Mineral reserves are not a subset of mineral resources. Tonnage amounts and contained metal amounts presented in this table have been rounded to the nearest thousand, so aggregate amounts may differ from
Slide 30: Mineral Resources as at December 31, 2021 for Properties Held by Agnico Eagle
MINERAL RESOURCES AS AT DECEMBER 31, 2021 FOR PROPERTIES HELD BY AGNICO EAGLE PRIOR TO THE MERGER Mineral reserves are not a subset of mineral resources. Tonnage amounts and contained metal amounts presented in this table have been rounded to the nearest thousand, so aggregate amounts may differ fro
Slide 31: Mineral Resources as at December 31, 2021 for Properties Held by Agnico Eagle
MINERAL RESOURCES AS AT DECEMBER 31, 2021 FOR PROPERTIES HELD BY AGNICO EAGLE PRIOR TO THE MERGER Mineral reserves are not a subset of mineral resources. Tonnage amounts and contained metal amounts presented in this table have been rounded to the nearest thousand, so aggregate amounts may differ fro
Slide 32: Mineral Reserves as at December 31, 2021 for Properties Held by Kirkland Lake Gold
MINERAL RESERVES AS AT DECEMBER 31, 2021 FOR PROPERTIES HELD BY KIRKLAND LAKE GOLD PRIOR TO THE MERGER Mineral reserves are not a subset of mineral resources. Tonnage amounts and contained metal amounts presented in this table have been rounded to the nearest thousand, so aggregate amounts may diffe
Slide 33: Mineral Resources as at December 31, 2021 for Properties Held by Kirkland Lake Gold
MINERAL RESOURCES AS AT DECEMBER 31, 2021 FOR PROPERTIES HELD BY KIRKLAND LAKE GOLD PRIOR TO THE MERGER Mineral reserves are not a subset of mineral resources. Tonnage amounts and contained metal amounts presented in this table have been rounded to the nearest thousand, so aggregate amounts may diff
Slide 34: Notes to Investors Regarding the Use of Mineral Resources
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' NI 43-101. These standar
Slide 35: Mineral Reserves and Mineral Resources as at March 31, 2022 for Detour Lake Property
MINERAL RESERVES AND MINERAL RESOURCES AS AT MARCH 31, 2022 FOR DETOUR LAKE PROPERTY Mineral reserves are not a subset of mineral resources. Tonnage amounts and contained metal amounts presented in this table have been rounded to the nearest thousand, so aggregate amounts may differ from column tota
Slide 36: Notes to Investors Regarding the Use of Mineral Resources
NOTES TO INVESTORS REGARDING THE USE OF MINERAL RESOURCES CIM definitions (2014) were followed in the estimation of mineral reserves and mineral resources. Mineral reserves are exclusive of mineral resources. Tonnes and gold ounce information is rounded to the nearest thousand. Discrepancies in tota
Slide 37: Notes to Investors
NOTES TO INVESTORS Note Regarding the Use of Non-GAAP Financial Measures This presentation discloses certain financial performance measures, including "total cash costs per ounce", "all-in sustaining costs per ounce", "minesite costs per tonne", "net debt", "adjusted net income", "adjusted net incom
Slide 38: Notes to Investors
NOTES TO INVESTORS Note Regarding the Use of Non-GAAP Financial Measures Realized prices are calculated as revenue from mining operations by metal divided by the volume of metal sold. Management uses realized prices to, and believes is helpful to investors so they can, evaluate sales revenue in each
Slide 39: agnicoeagle.com
Trading Symbol: AEM on TSX & NYSE Investor Relations: 416-947-1212 info@agnicoeagle.com agnicoeagle.com