Agnico Eagle Mines (AEM) 35th BMO Global Metals, Mining & Critical Minerals Conference summary

Strategic approach and regional focus

• Operates as a regional gold miner, prioritizing regions with strong geological potential and political stability for multi-decade, multi-mine operations.

• Deep local relationships and long-term presence provide operational advantages, including low turnover, strong supplier ties, and community integration.

• Regional strategy enables resilience during supply chain disruptions and supports superior operational continuity.

Strategic outlook and growth initiatives

• Forecasts 20–30% gold production growth over the next decade, targeting over 4 million ounces annually by early 2030s.

• Major expansion projects at Detour Lake, Canadian Malartic, Upper Beaver, Hope Bay, and San Nicolás, leveraging existing infrastructure and partnerships.

• Detour Lake and Canadian Malartic each have pathways to 1 million ounces annual production, with key underground and mill optimization projects accelerating.

• Upper Beaver and Hope Bay projects are advancing, with Hope Bay’s go-ahead expected in May and projected to produce 400,000–450,000 ounces annually for decades; Upper Beaver expected to produce 200–220koz gold and 3.6kt copper annually from 2030.

• Ongoing asset optimization and exploration expected to unlock further value and extend mine life at key operations.

Operational and financial highlights

• Second largest gold producer with operations in Canada, Finland, Mexico, and Australia, focusing on premier jurisdictions.

• Achieved 14x production growth and nearly 3x production per share over 20 years, with 15% compounded share price return, outperforming gold equity indices and S&P 500 in share price CAGR since 2005.

• 2025 proven and probable gold reserves total 55.4 million ounces at 1.30 g/t, with measured and indicated resources of 47.1 million ounces.

• Significant silver, copper, and zinc reserves and resources, with San Nicolás contributing substantial base metal potential.

• Optimization projects at Macassa, Meliadine, Meadowbank, and LaRonde aim to increase throughput and extend production beyond 2030.