Agnico Eagle Mines (AEM) investor relations material

Strategic overview and differentiation

• Focuses on operating in regions with strong geologic potential and political stability, prioritizing long-term, multi-mine operations.

• Regional strategy leverages local knowledge, deep operational expertise, and long-standing community relationships.

• Achieved 14x growth in total gold production and 18x growth in EBITDA per share over 20 years, with a 13% compound annual return.

• 85% of production comes from Canada, with 10 mines across Canada, Australia, Finland, and Mexico.

• Record 2025 financials: $8B EBITDA, $4.4B free cash flow, $2.7B net cash, and $1.4B returned to shareholders.

Growth pipeline and project updates

• Clear path to 20%-30% production growth over the next decade, targeting over 4 million ounces annually in the 2030s.

• Key growth assets: Detour Lake (expanding to 1M+ ounces/year by 2030s), Canadian Malartic (transitioning to underground, targeting 1M+ ounces/year by mid-2030s).

• Upper Beaver mine in Ontario advancing ahead of schedule, aiming for production by 2030.

• Hope Bay redevelopment in Nunavut expected to produce 400,000-425,000 ounces/year around 2030.

• Additional upside from exploration, asset expansion, and portfolio optionality.

Project execution and risk management

• Employs a phased approach to project development, allowing flexibility and risk mitigation.

• Largest execution risk is hiring and training 10,000 new employees over five years.

• In-house construction teams provide control and efficiency, reducing reliance on external contractors.