Agnico Eagle Mines (AEM) Corporate presentation summary

Strategic positioning and operational highlights

• Operates in low-risk, stable mining jurisdictions with a focus on Canada, Finland, Australia, and Mexico, leveraging decades of geological potential and political stability.

• Maintains a disciplined capital investment approach, emphasizing technical expertise and regional knowledge to optimize asset performance.

• Achieved strong operational performance with 2024 gold production guidance of 3.35–3.55 Moz and total cash costs of $875–$925/oz.

• Consistent record of value creation, growing from 1 to 11 operating mines since 2005 and delivering 41 consecutive years of dividend payments.

• Focus on per-share value creation and shareholder returns, including dividends and share buybacks.

Financial performance and balance sheet

• Delivered four consecutive quarters of record free cash flow, with Q3 2024 free cash flow at $620M and YTD at $1.57B.

• Maintains strong liquidity with $977M in cash and a $2B undrawn credit facility as of September 30, 2024.

• Reduced net debt by ~$1B in 2024, with current net debt at $490M and investment grade credit ratings from Moody’s (Baa1) and Fitch (BBB+).

• Paid close to $4B in cumulative dividends since 1983 and repurchased $100M in shares YTD 2024.

Asset optimization and project pipeline

• Robust pipeline supports profitable production, with near-term optimizations at Detour Lake, Macassa, and Meliadine, and medium- to long-term growth from Upper Beaver, Hope Bay, and San Nicolás JV.

• Detour Lake is the largest gold-producing open pit in Canada, with a pathway to 1 Moz/year and mine life to 2054; brownfield expansion and underground project offer strong returns.

• Upper Beaver project targets 210 koz Au/year over 13 years at low cash costs, with significant exploration upside and synergies with Macassa.

• Canadian Malartic transitioning to Canada’s largest underground gold mine, with ramp development ahead of schedule and shaft completion expected in 2027.