Agnico Eagle Mines (AEM) Investor presentation summary

Strategic positioning and operational overview

• Operates in low-risk, politically stable jurisdictions with multi-decade geological potential, focusing on Canada, Finland, Mexico, and Australia.

• Maintains a robust project pipeline and leverages existing assets for organic growth.

• Emphasizes disciplined capital investments and technical expertise to drive value.

• Prioritizes per share value creation and has paid dividends for 41 consecutive years.

• Holds a strong mineral reserve base: 52 Moz proven & probable, 42 Moz measured & indicated, 37 Moz inferred.

Financial performance and capital allocation

• H1 2024 gold production reached 1.77 Moz, on track for 2024 guidance of 3.35–3.55 Moz.

• H1 2024 total cash costs were $885/oz, with AISC at $1,179/oz, both within guidance.

• Achieved record operating margin and free cash flow for three consecutive quarters.

• Returned ~49% of free cash flow to shareholders via dividends and share buybacks in H1 2024.

• Maintains strong liquidity: $922M cash, $2B undrawn credit facility, and net debt reduced to $920M as of June 30, 2024.

Risk management and sustainability

• Actively hedges currency and diesel to manage cost volatility and support guidance.

• High ESG standards, with significant local employment and procurement, especially in Nunavut and Quebec.

• Focuses on continuous improvement and cost optimization across all platforms.

• Invests in automation and advanced technologies to enhance productivity and safety.