Alamos Gold (AGI) 35th BMO Global Metals, Mining & Critical Minerals Conference summary

Strategic growth and asset expansion

• Production has grown from a single mine in Mexico to a diversified portfolio, now with 90% of asset value in Canada and 10% in Mexico.

• Annual gold production is set to surpass 1 million ounces by 2029, driven by Island Gold expansion and Lynn Lake development.

• Reserve base has expanded from under 2 million ounces in 2015 to over 16 million ounces, net of depletion.

• All major acquisitions and expansions have been accretive on a per-share basis, boosting shareholder value.

• Growth strategy focuses on disciplined, counter-cyclical acquisitions and heavy investment in exploration.

Operational performance and cost management

• Island Gold shaft expansion will be completed by year-end, reducing costs from $1,500 to $1,200 per ounce.

• Lynn Lake project, now scheduled for spring 2026, will add low-cost production with all-in sustaining costs around $1,000 per ounce.

• Transitioning Island Gold from CNG to grid power will cut energy costs by 60%.

• Guidance bands have been widened and set lower to account for operational uncertainties after missing guidance in 2023.

• Engineering redesigns, such as a new gyratory crusher, are being implemented to address climate-related operational challenges.

Exploration and future outlook

• $100 million exploration budget for 2024, with half allocated to Island Gold, has yielded significant high-grade discoveries.

• Island Gold District production is expected to exceed 500,000 ounces annually for at least the next decade.

• Lynn Lake reserves have grown to over 3 million ounces, extending mine life and supporting higher throughput.

• All growth is fully funded and permitted, with a focus on maintaining a low-risk jurisdictional profile.

• Community and provincial support in Manitoba remains strong despite wildfire-related delays.