Alamos Gold (AGI) Corporate presentation summary

Strategic growth and operational highlights

• Forecasts gold production to nearly double from 545k oz in 2025 to ~1M oz by 2030, driven by organic growth and major expansions in Canada and Mexico.

• All-in sustaining costs (AISC) are expected to decline from $1,524/oz in 2025 to ~$1,250/oz by 2028, supporting margin expansion.

• Over $19B in value created through M&A, exploration, and asset optimization, with a 372% share price increase since 2021 and $510M returned to shareholders since 2010.

• Mineral Reserves have grown 64% over seven years, net of 4.1M oz depletion, with 9M oz of new resources delineated at a low discovery cost.

• Strong balance sheet with $1.2B liquidity, $660M cash, and $352M free cash flow in 2025, fully funding growth initiatives.

Asset and project development

• Island Gold District Expansion will more than double production to 534k oz/year at $1,025/oz AISC over the first 10 years post-expansion, with a 69% after-tax IRR at $4,500/oz gold.

• Lynn Lake project to deliver 186k oz/year at $829/oz AISC over the first 10 years, with a 25-year mine life and significant exploration upside.

• Puerto Del Aire (PDA) project in Mexico targets 127k oz/year at $1,003/oz AISC for the first four years, with a 46% after-tax IRR at $1,950/oz gold.

• Young-Davidson remains a consistent free cash flow generator with a 14-year reserve life and ongoing exploration to extend mine life.

• Mulatos District continues to deliver low-cost production and strong free cash flow, with PDA and other high-grade targets supporting future growth.

Financial and operational guidance

• 2026 guidance anticipates total gold production below 570k oz, with consolidated AISC above $1,600/oz; revised guidance to be provided in Q2 2026.

• Capital expenditures for 2026 are projected at $910M–$1,000M, supporting major expansions and exploration.

• EBITDA is forecast to rise from $1,074M in 2026 to $1,986M in 2027, with an attractive EV/EBITDA multiple compared to sector peers.

• Majority of inherited Argonaut Gold hedge book eliminated, increasing exposure to higher gold prices.

• Sale of Turkish development projects for $470M in cash, crystallizing significant value and reducing geopolitical risk.