Alamos Gold (AGI) Virtual Non-Deal Roadshow summary

Operational and financial performance

• Achieved record operational and financial results in 2023, with expectations for continued record-setting performance due to strong growth and high gold prices.

• Current production rate is about 500,000 ounces of gold per year, with plans to grow to 900,000 ounces annually over several years, representing 80% growth.

• All growth projects are fully funded internally, supporting ongoing free cash flow and lower costs.

• All-in sustaining costs (AISC) are expected to decrease from $1,150/oz to around $1,000/oz over the next several years.

• Canadian assets account for nearly 90% of net asset value, providing low political risk and long mine lives.

Growth strategy and M&A

• Integration of Island Gold and Magino mines is expected to generate over $500 million in synergies, with further upside anticipated.

• Acquisition of Magino is set to close in July, increasing annual production to 600,000 ounces, with further growth from Island Gold and Lynn Lake projects.

• Centralized milling complex will drive economies of scale, lower processing costs, and save $140 million in capital.

• $515 million in pre-tax synergies expected from capital and operating efficiencies, plus CAD 1 billion in tax pools to shelter Canadian taxes until 2028.

• M&A strategy focuses on disciplined, high-quality asset acquisitions with significant value creation.

Exploration and asset development

• Island Gold expansion will double production to 300,000 ounces/year by 2026, with AISC in the low $600s.

• Ongoing exploration success at Island Gold and Mulatos, with discovery costs as low as $13/oz.

• PDA deposit at Mulatos is expected to double mine life to 8+ years, with a development plan due in the next few weeks.

• Lynn Lake project in Manitoba targets 180,000 ounces/year at $700/oz AISC, with construction decision in 2025 and production as early as late 2027.

• $62 million exploration budget for 2024, the largest ever, with multiple catalysts expected this year.