Agnico Eagle Mines (AEM) Investor presentation summary

Project overview and leadership

• Hope Bay project targets multi-decade gold production in Nunavut, with an estimated mine life of 11 years and total gold production of 4.5 million ounces from 2030 to 2040.

• Resource base includes 5.8 million ounces measured & indicated and 3.3 million ounces inferred.

• Leadership team brings extensive experience in engineering, operations, construction, and exploration.

• Collaborative approach integrates early design participation, operational readiness, and Inuit employment.

Economic highlights and investment decision

• 2026 study projects robust economics: $2.7B NPV, 19% IRR, $2.4B initial capital, and $1.1B sustaining capital.

• Average total cash costs estimated at $942/oz and AISC at $1,199/oz.

• Steady-state production of 435,000 ounces per year expected from 2032-2038, with ramp-up to 6,000 tpd in 2032.

• Positive investment decision driven by high-grade Patch 7, enabling production to exceed 400,000 ounces annually.

Construction, infrastructure, and logistics

• 62% of detailed engineering completed by April 2026, de-risking schedule and budget.

• Recent upgrades include process plant dismantling, jetty improvements, new dormitories, and construction shops.

• Logistics leverage established routes, with air and barge access, and a 6-8 week sealift season.

• Power plant (37MW) and process plant (6,000 tpd) are key construction milestones, with initial production targeted for 2030.