Alamos Gold Inc. · TSX:AGI
Alamos Gold — Q4 2022 Earnings Presentation
26 slides from Alamos Gold's earnings presentation, Feb 23, 2023
Slide 1: Fourth Quarter & Year-End 2022 Results Presentation
Fourth Quarter & Year-End 2022 Results Presentation February 23, 2023
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 2022 highlights
Q4 & full-year 2022 highlights YoY % YoY % 2022 Q4 2022A Q4 2021A Change 2022A 2021A Change Guidance Gold production (000 oz) 134 Gold production (000 oz) 134.2 112.5 19% 460.4 457.2 1% 440-480 123 113 99 104 Gold sales (000 oz) 133.2 113.0 18% 456.6 457.5 0% - Total cash costs (US$/oz)1 $810 $843 (
Slide 4: Production Guidance: strong three-year outlook
Strong three-year outlook – growing production & declining costs Strong production growth in 2023; further upside $1,150 potential in 2025 800 800 $1,204 • Production guidance increased for 2023 & 2024 $1,125 $1,025 700 $1,000 700 • Additional growth potential in 2025 with inclusion of higher-grade
Slide 5: Consolidated cash flow outlook – fully funded growth with strong free cash flow
Consolidated cash flow outlook – fully funded growth with strong free cash flow Consolidated free cash flow outlook (US$M)1,2 $150 $100 $50 $0 2023 2024 2025 2026+ US$1,650/oz Au US$1,750/oz Au US$1,850/oz Au Balanced approach to growth – no Strong ongoing free cash flow Significant free cash flow s
Slide 6: Financial highlights
Financial highlights YoY % YoY % 2022 Cash flow from operations, before Q4 2022A Q4 2021A 2022A 2021A changes in working capital (US$M) 1 Change Change Guidance $109 Realized gold price (US$/oz) $1,741 $1,798 (3%) $1,799 $1,800 0% - $92 $96 $85 Operating revenues (US$M) $232 $203 14% $821 $824 0% -
Slide 7: Operational highlights – Young-Davidson
Operational highlights – Young-Davidson Q4 2022A Q4 2021A 2022A 2021A 2022 Guidance 2023 Guidance Production & mine-site AISC1 Gold production (koz) 44.6 51.9 192.2 195 185-200 185-200 60 $1,700 Total cash costs, per ounce of gold sold1 $942 $775 $878 $846 $850-900 $900-950 50 $1,500 40 $1,300 Mine-
Slide 8: Operational highlights – Island Gold
Operational highlights – Island Gold Q4 2022A Q4 2021A 2022A 2021A 2022 Guidance 2023 Guidance Production & mine-site AISC1 45 $1,500 Gold production (koz) 40.5 37.5 133.7 140.9 125-135 120-135 40 $1,300 Total cash costs, per ounce of gold sold1 $605 $575 $637 $529 $550-600 $600-650 35 30 $1,100 Min
Slide 9: Island Gold – Phase 3+ Expansion progress
Island Gold – Phase 3+ Expansion progress Hoist House Hoist Drive Sub Collar, Vent Plenum Cooling Building & Collar House Shaft & Winch House Pad Shaft site area - October 2022 Shaft site area - February 2023 2022 major milestones 2023 key construction objectives ✓ Shaft site earthworks – substantia
Slide 10: Operational highlights – Mulatos District
Operational highlights – Mulatos District Mulatos District Q4 2022A Q4 2021A 2022A 2021A 2022 Guidance 2023 Guidance Production & mine-site AISC1 Gold production (000 oz) – Mulatos District 49.1 23.1 134.5 121.3 130-145 175-185 60 Total cash costs (US$/oz sold)1 $851 $1,473 $1,134 $1,013 $1,225-1,27
Slide 11: La Yaqui Grande driving production higher & costs lower
La Yaqui Grande driving production higher & costs lower Strong Q4/22 performance; LYG fully ramped up: 37k oz $545/oz 11k tpd produced, 47% increase mine-site AISC1,2, 22% stacking rate; exceeded from Q3/22 decrease from Q3/22 design capacity of 10k tpd Open pit Near-term value driver for Mulatos di
Slide 12: Consolidated Mineral Reserves & Resources as of December 31, 2022
Consolidated Mineral Reserves & Resources as of December 31, 2022 2022 2021 % 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 199,932 1.63 10,455 201,936 1.58 10,257 -1% 3
Slide 13: Island Gold – ongoing exploration success driving growth in size & value
Island Gold – ongoing exploration success driving growth in size & value Reserve & Resource growth since acquisition 5.3M oz Mineral Reserves M&I Mineral Resources 16 total Mineral Reserves & Resources2, a 187% increase Inferred Mineral Resources since 2017 acquisition 5,000 Mineral Reserve grade In
Slide 14: Island Gold – 2022 Mineral Reserve & Resources additions
Island Gold – 2022 Mineral Reserve & Resources additions TSX:AGI ǀ NYSE:AGI 14
Slide 15: Puerto Del Aire (PDA) – growing, higher-grade underground deposit
Puerto Del Aire (PDA) – growing, higher-grade underground deposit Significant growth & exploration upside: Development plan H2 2023: • 70% increase in Mineral Reserves to 728k oz; 4% increase in grades to 4.84 g/t Au • PDA adjacent to main Mulatos pit • 1M oz total Mineral Reserves & Resources1; 71%
Slide 16: Alamos Gold – value creation opportunities
Alamos Gold – value creation opportunities Growing, diversified, Expanding margins & Conservative, low- Sustainable business intermediate gold profitability risk strategy model supporting producer growing returns over the long-term Catalysts 60% ✓ 2022 year-end Mineral Reserve and Resource update: F
Slide 17: Appendices
Appendices Appendices TSX:AGI ǀ NYSE:AGI 17
Slide 18: 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 19: 2023 guidance
2023 guidance 2023 Guidance 2022A Young-Davidson Island Gold Mulatos Lynn Lake Total Total Gold production (000 oz) 185 - 200 120 - 135 175 - 185 — 480 - 520 460 Cost of sales (US$M)3 — — — — $625 $609 Cost of sales (US$/oz)3 — — — — $1,250 $1,334 Total cash costs (US$/oz)1 $900 - 950 $600 - 650 $90
Slide 20: 2023 guidance: capital budget
2023 guidance: capital budget 2023 Guidance 2022A Sustaining Capital Growth Capital Total Total Operating Mines (US$M) Young-Davidson $50 - 55 $5 - 10 $55 - 65 $67 Island Gold $45 - 50 $165 - 185 $210 - 235 $139 Mulatos $10 $5 - 10 $15 - 20 $60 Total – Operating Mines $105 - 115 $175 - 205 $280 - 32
Slide 21: 2023 - 2025 guidance: operating mines
2023 - 2025 guidance: operating mines1 2023 2024 2025 Current Previous Current Previous Current Gold Production (000 oz) Young-Davidson 185 - 200 185 - 200 185 - 200 185 - 200 185 - 200 Island Gold 120 - 135 115 - 125 145 - 160 140 - 155 175 - 190 Mulatos District 175 - 185 160 - 175 140 - 150 135 -
Slide 22: Total Proven & Probable Mineral Reserves
Total Proven & Probable Mineral Reserves PROVEN AND PROBABLE GOLD MINERAL RESERVES (as at December 31, 2022) 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 23: Total Measured & Indicated Mineral Resources
Total Measured & Indicated Mineral Resources MEASURED AND INDICATED GOLD MINERAL RESOURCES (as at December 31, 2022) 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 24: Total Inferred Mineral Resources
Total Inferred Mineral Resources INFERRED GOLD MINERAL RESOURCES (as at December 31, 2022) Tonnes Grade Ounces (000's) (g/t Au) (000's) Young-Davidson - Surface 31 0.99 1 Young-Davidson - Underground 1,586 2.89 147 Total Young-Davidson 1,617 2.85 148 Golden Arrow 2,028 1.07 70 Island Gold 8,066 13.6
Slide 25: 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 news release. Chris Bostwick is a Qualified Person within the meani
Slide 26: Scott K. Parsons, CFA
Scott K. Parsons, CFA SVP, Investor Relations 416.368.9932 x 5439 sparsons@alamosgold.com