Agnico Eagle Mines Limited Press Releases

AGNICO EAGLE REPORTS SECOND QUARTER 2026 RESULTS - RECORD QUARTERLY FREE CASH FLOW REFLECTS SOLID OPERATIONAL PERFORMANCE; RECORD QUARTERLY SHAREHOLDER RETURNS

Wed, 29 Jul 2026 17:00:00 -0400

Stock Symbol: AEM (NYSE and TSX)

(All amounts expressed in U.S. dollars unless otherwise noted)

TORONTO, July 29, 2026 /CNW/ -- Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") today reported financial and operating results for the second quarter of 2026.

"Our high-quality portfolio delivered another strong quarter, with better-than-planned production and disciplined cost control driving strong margins and record quarterly free cash flow," said Ammar Al-Joundi, President and Chief Executive Officer. "The strength of our business and our balanced capital allocation approach enabled us to reinvest in future growth, enhance our portfolio through the completion of the regional consolidation in Finland, further strengthen our balance sheet and return a record $625 million to our shareholders through dividends and share repurchases during the quarter. Continued progress across our growth projects, supported by positive exploration results, reinforces our confidence in our long-term outlook, while our strong financial position supports our commitment to creating long-term value and delivering strong returns to our shareholders."

Second quarter 2026 highlights:

Solid operating quarter driven by strong execution and cost control – Payable gold production¹ was 855,816 ounces at production costs per ounce of $1,114, total cash costs per ounce² of $1,054 and all-in sustaining costs ("AISC") per ounce² of $1,459. The strong operating performance was led by Detour Lake, Kittila and Fosterville
Record quarterly free cash flow drives strong quarterly financial results – Solid production and disciplined cost control, combined with realized gold prices³ of $4,483 per ounce in the second quarter, resulted in record free cash flow. The Company reported quarterly net income of $1,600 million or $3.19 per share and adjusted net income⁴ of $1,541 million or $3.07 per share. The Company generated cash provided by operating activities of $2,144 million or $4.27 per share and free cash flow⁴ of $1,335 million or $2.66 per share
Financial strength and flexibility further enhanced – The Company increased its cash balance by $352 million to $3,464 million as at June 30, 2026, resulting in a net cash⁵ position of $3,267 million with total debt outstanding of $197 million as at June 30, 2026. Reflecting its strong financial profile, Fitch Ratings upgraded the Company's long-term issuer default rating from BBB+ to A‑ in April 2026
Annual gold production remains at lower end of guidance range; total cash costs and AISC annual guidance reiterated – Expected payable gold production for the full year 2026 remains near the lower end of the guided range of 3.3 to 3.5 million ounces, reflecting the preliminary redesign of the Barnat open pit at Canadian Malartic that contemplates reduced production following the rock mass movement reported on July 2, 2026. Full year total cash costs per ounce and AISC per ounce guidance for 2026 remains unchanged at $1,020 to $1,120 and $1,400 to $1,550, respectively. Total capital expenditures for 2026 (excluding capitalized exploration) are now expected to be between $2.6 billion and $2.8 billion, compared with previous guidance of $2.2 billion to $2.4 billion, reflecting the approval of construction activities at Hope Bay announced on May 19, 2026. Capitalized exploration guidance for 2026 remains unchanged at $290 million to $330 million. Further details are set out in the 2026 Guidance Summary section below
Record quarterly shareholder returns – The Company returned a total of $625 million to shareholders during the second quarter of 2026, including the declaration of a quarterly dividend of $0.45 per share and the repurchase of 2,235,947 common shares under the Company's normal course issuer bid ("NCIB"). Share repurchases were completed at an average price of $178.86 per share for an aggregate cost of $400 million. In May 2026, the Company renewed the NCIB for another year on substantially the same terms, however it increased its internal limit on purchases of common shares to $2 billion
Reconciliation Action Plan Progress Report published – In June 2026, the Company published its first progress report on the Reconciliation Action Plan that was released in 2024, covering progress in 2024 and 2025 and reinforcing the Company's commitment to transparency, accountability and meaningful reconciliation with Indigenous Peoples across its operations
Update on key value drivers and pipeline projects in the second quarter of 2026
- Canadian Malartic – The first phase of shaft sinking at Odyssey underground was completed in July 2026, reaching a depth of 1,586 metres. Activities will transition to the headframe change over and completion of the first loading station, which remains on schedule, to support first production through Shaft #1 in the second quarter of 2027. Ramp development advanced to a depth of 1,190 metres during the quarter and is expected to reach planned shaft bottom at 1,870 metres in 2030, enabling a second phase of sinking Shaft #1 from 2029 to 2031. Exploration drilling continued to yield positive results in multiple areas of the Odyssey mine, including 5.1 grams per tonne ("g/t") gold over 14.3 metres at 916 metres depth in the upper eastern portion of the East Gouldie deposit and 13.7 g/t gold over 14.6 metres (core length) at 1,078 metres depth in the newly defined Artemis zone in the internal zones of the Odyssey deposit
- Detour Lake – Development activities for the underground project continued, with the exploration ramp reaching a depth of 180 metres and the overburden removal for the conveyor‑ramp portal advancing. High-intensity drilling from surface near the exploration ramp in the West Pit zone continued in the second quarter with a highlight intercept of 2.5 g/t gold over 62.3 metres at 275 metres depth, including 15.2 g/t gold over 5.9 metres at 264 metres depth. Drilling into the West Extension zone had highlights of 13.5 g/t gold over 2.5 metres at 564 metres depth, approximately 1.0 kilometre west of the resource-pit outline, and 20.8 g/t gold over 4.8 metres at 836 metres depth, approximately 2.3 kilometres west of the resource-pit outline
- Upper Beaver – Development of the exploration ramp and shaft continued to advance, reaching depths of 165 metres and 478 metres, respectively. During the quarter, the Company continued a high‑intensity drilling program targeting a portion of the Upper Beaver deposit between approximately 500 and 600 metres depth
- Hope Bay – On May 19, 2026, the Company announced a positive investment decision for the Hope Bay project, supported by a study envisioning annual gold production of 400,000 to 435,000 ounces over an initial 11-year mine life and demonstrating strong economics⁶. Construction activities to support project redevelopment continued through the quarter, including the upgrade of surface infrastructure and development of exploration ramps at Naartok East and at Patch 7. Planning and procurement activities also progressed as scheduled in preparation for the upcoming sealift season. Conversion and exploration drilling at Patch 7 at the Madrid deposit during the second quarter had highlights of 18.5 g/t gold over 11.3 metres at 328 metres depth, 13.7 g/t gold over 15.4 metres at 609 metres depth and 15.2 g/t gold over 15.6 metres at 710 metres depth. At the Boston deposit, the Company started its first exploration drilling program since acquiring Hope Bay in 2021, with approximately 6,500 metres expected to be drilled by year-end
- San Nicolás – Minas de San Nicolás received the land use change (ETJ) and the environmental impact assessment (MIA-R) permits in July 2026, marking a milestone for the responsible development of the San Nicolás Project, and will now advance the additional permits, authorization and licenses required

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¹ Payable production of a mineral means the quantity of a mineral produced during a period contained in products that have been or will be sold by the Company whether such products are shipped during the period or held as inventory at the end of the period.

² Total cash costs per ounce and all-in sustaining costs per ounce (or AISC per ounce) are non-GAAP measures that are not standardized financial measures under IFRS Accounting Standards and, in this news release, unless otherwise specified, are reported on (i) a per ounce of gold production basis, and (ii) a by-product basis. For reconciliations of each of these non-GAAP measures to production costs on both a by-product and a co-product basis and a description of their composition and usefulness, see Note Regarding Certain Measures of Performance below.

³ Realized gold price is calculated as gold revenues from mining operations divided by the number of ounces sold.

⁴ Adjusted net income, free cash flow and, where applicable, their related per share measures are non-GAAP measures that are not standardized financial measures under IFRS Accounting Standards. For a description of the composition and usefulness of these non-GAAP measures and a reconciliation to the most comparable measure prepared in accordance with IFRS Accounting Standards, see Note Regarding Certain Measures of Performance below.

⁵ Net cash is a non-GAAP measure that is not a standardized financial measure under IFRS Accounting Standards. For a description of the composition and usefulness of this non-GAAP measure and a reconciliation to the most comparable measure prepared in accordance with IFRS Accounting Standards, see Note Regarding Certain Measures of Performance below.

⁶ The forecast parameters were based on an internal evaluation which is preliminary in nature and includes inferred mineral resource. For a description see Notes to Investors Regarding Certain Project Evaluations below.

Second Quarter 2026 Results Conference Call and Webcast Tomorrow

The Company's senior management will host a conference call on Thursday, July 30, 2026, at 11:00 AM (E.D.T.) to discuss the Company's financial and operating results.

Via Webcast:

To listen to the live webcast of the conference call, you may register on the Company's website at www.agnicoeagle.com, or directly via the link here.

Via Phone:

To join the conference call by phone, please dial 437-900-0527 or toll-free 1-888-510-2154 to be entered into the call by an operator. To ensure your participation, please call approximately five minutes prior to the scheduled start of the call.

To join the conference call by phone without operator assistance, you may register your phone number here 30 minutes prior to the scheduled start of the call to receive an automated call back.

Replay Archive:

Please dial 289-819-1450 or toll-free 1-888-660-6345, access code 02161#. The conference call replay will be available until August 30, 2026.

The webcast, along with presentation slides, will be archived for 180 days on the Company's website.

Second Quarter 2026 Production and Costs

Production and Cost Results Summary
	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025*	2026	2025*
Gold production** (ounces)	855,816	866,029	1,680,925	1,739,823
Gold sales (ounces)***	835,505	846,835	1,665,156	1,689,800
Production costs per ounce	$ 1,114	$ 911	$ 1,136	$ 895
Total cash costs per ounce	$ 1,054	$ 925	$ 1,073	$ 910
AISC per ounce	$ 1,459	$ 1,281	$ 1,471	$ 1,227

*	Total cash costs per ounce and AISC per ounce for the three and six months ended June 30, 2025 have been restated using the Company's revised composition for periods commencing on or after January 1, 2026, see Note Regarding Certain Measures of Performance below for further details. Using the Company's composition of this measure for periods ending on or prior to December 31, 2025, total cash costs per ounce were $933 and $918 for the consolidated Company and AISC per ounce was $1,289 and $1,235 for the consolidated Company for the three and six months ended June 30, 2025, respectively.
**	Gold production for the three months ended June 30, 2026 excludes payable gold production at La India and Creston Mascota of 440 and 58 ounces, respectively, which were produced from residual leaching. Gold production for the three months ended June 30, 2025 excludes payable gold production at La India and Creston Mascota of 858 ounces and 39 ounces, respectively, which were producing from residual leaching. Gold production for the six months ended June 30, 2026 excludes payable gold production at La India and Creston Mascota of 858 and 134 ounces, respectively, which were produced from residual leaching. Gold production for the six months ended June 30, 2025 excludes payable gold production at La India and Creston Mascota of 2,669 ounces and 64 ounces, respectively, which were producing from residual leaching.
***	Payable metals sold at Canadian Malartic, Detour Lake and Macassa exclude the in-kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines. For the six months ended June 30, 2025, payable metals sold excludes 2,500 payable gold ounces sold from La India.

Gold Production

Second Quarter of 2026 – Gold production decreased when compared to the prior-year period primarily due to lower production from Canadian Malartic (lower throughput and grade), partially offset by higher production from Detour Lake and Kittila (higher throughputs and grades)

First Six Months of 2026 – Gold production decreased when compared to the prior-year period primarily due to lower production from Macassa (lower grade partially offset by higher throughput), Canadian Malartic (lower throughput) and Meadowbank (lower grade partially offset by higher throughput), partially offset by higher production from Detour Lake (higher throughput and grade)

Production Costs per Ounce

Second Quarter of 2026 – Production costs per ounce increased when compared to the prior-year period primarily due to higher labour costs, higher royalty costs resulting from higher gold prices, higher energy costs related to diesel and lower production

First Six Months of 2026 – Production costs per ounce increased when compared to the prior-year period primarily due to higher labour costs, higher royalty costs resulting from higher gold prices, higher energy costs related to diesel, lower production and the impact of a stronger Canadian dollar relative to the U.S. dollar

Total Cash Costs per Ounce

Second Quarter and First Six Months of 2026 – Total cash costs per ounce increased when compared to the prior-year periods primarily due to the reasons described above for the increase in production costs per ounce in each respective period

AISC per Ounce

Second Quarter of 2026 – AISC per ounce increased when compared to the prior-year period due to the reasons described above for the increase in total cash costs per ounce, an increase in non-cash reclamation-related costs and higher sustaining capital expenditures (primarily at Detour Lake and Fosterville)

First Six Months of 2026 – AISC per ounce increased when compared to the prior-year period due to the reasons described above for the increase in total cash costs per ounce, an increase in non-cash reclamation-related costs, higher sustaining capital expenditures (primarily at Detour Lake and Fosterville) and higher general and administrative expenses

Refer to the Company's Management Discussion and Analysis for the second quarter of 2026 (the "MD&A") under the caption "Financial and Operating Results" for additional variance analysis on gold production, production costs, minesite costs per tonne and total cash costs per ounce compared to the prior-year periods.

Second Quarter 2026 Financial Results

Financial Results Summary
	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Realized gold price (per ounce)	$ 4,483	$ 3,288	$ 4,672	$ 3,090
Net income (millions)	$ 1,600	$ 1,069	$ 3,296	$ 1,883
Adjusted net income (millions)	$ 1,541	$ 976	$ 3,246	$ 1,746
EBITDA (millions)⁷	$ 2,762	$ 2,021	$ 5,758	$ 3,655
Adjusted EBITDA (millions)⁷	$ 2,738	$ 1,914	$ 5,748	$ 3,504
Cash provided by operating activities (millions)	$ 2,144	$ 1,845	$ 3,490	$ 2,890
Cash provided by operating activities before changes in non-cash working capital balances (millions)⁷	$ 2,112	$ 1,332	$ 4,344	$ 2,541
Capital expenditures* (millions)⁷	$ 801	$ 538	$ 1,375	$ 957
Free cash flow (millions)	$ 1,335	$ 1,305	$ 2,067	$ 1,899
Free cash flow before changes in non-cash working capital balances (millions)⁷	$ 1,303	$ 792	$ 2,921	$ 1,551

Net income per share (basic)	$ 3.19	$ 2.13	$ 6.58	$ 3.75
Adjusted net income per share (basic)	$ 3.07	$ 1.94	$ 6.48	$ 3.47
Cash provided by operating activities per share (basic)	$ 4.27	$ 3.67	$ 6.97	$ 5.75
Cash provided by operating activities before changes in non-cash working capital balances per share (basic)	$ 4.21	$ 2.65	$ 8.67	$ 5.06
Free cash flow per share (basic)	$ 2.66	$ 2.60	$ 4.13	$ 3.78
Free cash flow before changes in non-cash working capital balances per share (basic)	$ 2.60	$ 1.58	$ 5.83	$ 3.09

* Includes capitalized exploration

Net Income

Second Quarter of 2026
- Net income increased when compared to the prior-year period primarily due to strong operating margins from higher realized gold prices and a gain on sale of investments, partially offset by losses on derivative financial instruments (compared to gains in the prior-year period) and higher income and mining taxes
- Net income of $1,600 million ($3.19 per share) includes the following items (net of tax): Gain on sale of investments of $155 million ($0.31 per share), net losses on derivative financial instruments of $56 million ($0.11 per share), foreign exchange losses of $20 million ($0.04 per share), multi-year donations recognized in the quarter of $13 million ($0.03 per share) and other adjustments including reclamation and net asset disposals of $7 million ($0.01 per share). Excluding these items results in adjusted net income of $1,541 million or $3.07 per share

First Six Months of 2026 – Net income increased when compared to the prior-year period primarily due to the reasons described above for the second quarter of 2026

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⁷ "EBITDA" means earnings before interest, taxes, depreciation, and amortization. EBITDA, adjusted EBITDA, capital expenditures, cash provided by operating activities before changes in non-cash components of working capital and free cash flow before changes in non-cash components of working capital and, where applicable, their related per share measures, are non-GAAP measures that are not standardized measures under IFRS Accounting Standards. For a description of the composition and usefulness of these non- GAAP measures and a reconciliation to the most comparable measure prepared in accordance with IFRS Accounting Standards, see Note Regarding Certain Measures of Performance below.

Adjusted EBITDA

Second Quarter and First Six Months of 2026 – Adjusted EBITDA increased when compared to the prior-year periods primarily due to higher revenues from mining operations (higher realized gold prices, partially offset by lower gold sales), partially offset by higher production costs (higher labour costs, royalty costs and energy costs related to diesel)

Cash Provided by Operating Activities

Second Quarter of 2026 – Cash provided by operating activities and cash provided by operating activities before changes in non-cash components of working capital increased when compared to the prior-year period primarily due to the reasons described above related to the increase in adjusted EBITDA

First Six Months of 2026 – Cash provided by operating activities and cash provided by operating activities before changes in non-cash components of working capital increased when compared to the prior-year period primarily due to the reasons described above related to the increase in adjusted EBITDA. For the first six months of 2026, cash provided by operating activities was reduced by unfavourable changes in non-cash components of working capital primarily due to approximately $1.3 billion in cash taxes paid in the first quarter of 2026 relating to the 2025 taxation year

Free Cash Flow

Second Quarter and First Six Months of 2026 – Free cash flow and free cash flow before changes in non-cash components of working capital increased when compared to the prior-year periods due to the reasons described above related to cash provided by operating activities, partially offset by higher development capital expenditures related to the Hope Bay, Odyssey and Detour Lake underground projects in each respective period

Capital Expenditures

In the second quarter of 2026, capital expenditures were $699 million and capitalized exploration expenditures were $102 million, for a total of $801 million. For the first six months of 2026, capital expenditures were $1,188 million and capitalized exploration expenditures were $186 million, for a total of $1,375 million.

The table below sets out a summary of capital expenditures, in each case broken down between sustaining capital expenditures and development capital expenditures by mine, and capitalized exploration in the second quarter of 2026 and the first six months of 2026.

Summary of Capital Expenditures
(thousands)
	Capital Expenditures*		Capitalized Exploration
	Three Months Ended	Six Months Ended	Three Months Ended	Six Months Ended
	Jun 30, 2026	Jun 30, 2026	Jun 30, 2026	Jun 30, 2026
Sustaining Capital Expenditures**
LaRonde	$ 19,512	$ 35,173	$ 1,038	$ 2,270
Canadian Malartic	22,442	45,203	1,221	2,208
Goldex	9,471	19,576	486	686
Quebec	51,425	99,952	2,745	5,164
Detour Lake	74,496	117,027	--	--
Macassa	12,089	31,634	765	1,592
Ontario	86,585	148,661	765	1,592
Meliadine	18,218	34,528	2,213	3,638
Meadowbank	23,738	46,893	--	--
Nunavut	41,956	81,421	2,213	3,638
Fosterville	24,982	47,522	422	918
Australia	24,982	47,522	422	918
Kittila	20,279	33,446	1,313	2,295
Finland	20,279	33,446	1,313	2,295
Pinos Altos	11,287	20,043	1,326	1,537
Mexico	11,287	20,043	1,326	1,537
Other	436	2,497	59	(914)
Total Sustaining Capital Expenditures	$ 236,950	$ 433,542	$ 8,843	$ 14,230

Development Capital Expenditures**
LaRonde	$ 21,636	$ 42,033	$ --	$ --
Canadian Malartic	116,544	201,636	6,548	14,067
Goldex	8,616	14,696	1,635	3,632
Quebec	146,796	258,365	8,183	17,699
Detour Lake	76,634	150,078	8,561	15,182
Detour Lake underground	14,109	18,375	26,686	38,960
Macassa	39,500	64,010	9,501	18,320
Upper Beaver	17,703	25,019	1,210	17,805
Ontario	147,946	257,482	45,958	90,267
Meliadine	20,271	38,645	4,148	8,329
Meadowbank	10,337	19,511	29	51
Hope Bay	116,843	148,607	26,084	39,918
Nunavut	147,451	206,763	30,261	48,298
Fosterville	6,909	11,223	4,545	8,022
Australia	6,909	11,223	4,545	8,022
Kittila	1,101	2,047	2,656	5,256
Finland	1,101	2,047	2,656	5,256
Pinos Altos	3,832	5,653	12	23
San Nicolás (50%)	3,241	4,567	1,238	2,629
Mexico	7,073	10,220	1,250	2,652
Other	4,998	8,464	--	--
Total Development Capital Expenditures	$ 462,274	$ 754,564	$ 92,853	$ 172,194
Total Capital Expenditures	$ 699,224	$ 1,188,106	$ 101,696	$ 186,424

Excludes capitalized exploration

Sustaining capital expenditures and development capital expenditures are non-GAAP measures that are not standardized measures under IFRS Accounting Standards. For a description of the composition and usefulness of these non-GAAP measures and a reconciliation to the most comparable measure prepared in accordance with IFRS Accounting Standards, see Note Regarding Certain Measures of Performance below.

2026 Guidance

As previously disclosed on July 2, 2026, the Company expects full year 2026 production to be near the lower end of its previously disclosed guidance range of 3.3 million to 3.5 million ounces of gold, reflecting the preliminary redesign of the Barnat open pit at Canadian Malartic. Estimated full year total cash costs per ounce and AISC per ounce guidance for 2026 remains unchanged at $1,020 to $1,120 and $1,400 to $1,550, respectively. Refer to the "Abitibi Region, Quebec" section below for further updates on the Barnat open pit.

Total capital expenditures for 2026 (excluding capitalized exploration) are now expected to be between $2.6 billion and $2.8 billion, compared with previous guidance of $2.2 billion to $2.4 billion, reflecting the approval of construction activities at Hope Bay announced on May 19, 2026. Capitalized exploration guidance for 2026 remains unchanged at $290 million to $330 million.

A summary of the Company's guidance is set out below.

2026 Guidance Summary
($ millions, unless otherwise stated)
	2026		2026
	Guidance Range		Mid-Point
Gold production (thousands of ounces)	3,300	3,500	3,400
Total cash costs per ounce⁸	$ 1,020	$ 1,120	$ 1,070
AISC per ounce⁸	$ 1,400	$ 1,550	$ 1,475

Capital expenditures⁸ (excluding capitalized exploration)	$ 2,605	$ 2,825	$ 2,715
Capitalized exploration	$ 290	$ 330	$ 310
Capital expenditures (including capitalized exploration)	$ 2,895	$ 3,155	$ 3,025

Exploration and corporate development*	$ 275	$ 305	$ 290
Depreciation and amortization expense	$ 1,550	$ 1,750	$ 1,650
General and administrative expense**	$ 230	$ 260	$ 245
Other costs***	$ 75	$ 95	$ 85
NTI Payment⁹	$ 185	$ 195	$ 190
Cash taxes	$ 3,400	$ 3,600	$ 3,500
Effective tax rate (%)	34 %	36 %	35 %

*	2026 Guidance includes $185 million to $205 million related to exploration and $90 million to $100 million related to corporate development
**	2026 Guidance includes share-based compensation, expected to be between $65 million and $75 million. General and administrative expense is expected to fluctuate based on changes in the Company's share price, which affects the costs related to stock-based compensation.
***	2026 Guidance includes $35 million to $45 million related to site maintenance costs primarily at Hope Bay and Northern Territory in Australia and $40 million to $50 million related to remediation expenses and other miscellaneous costs

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⁸ The Company's guidance for total cash costs per ounce, AISC per ounce and capital expenditures is forward-looking non-GAAP information. For a description of the composition and usefulness of these non-GAAP measures and a discussion of revisions that have been made by the Company to the composition of certain of these measures, see Note Regarding Certain Measures of Performance below.

⁹ The "NTI Payment" is the payment to Nunavut Tunngavik Inc. ("NTI") under the Company's mineral production lease in respect of the Amaruq mine at Meadowbank, which is based on net profits, subject to a minimum profit margin. NTI Payments in this table are reflected on a cash basis with 2026 Guidance based on a gold price assumption of $4,500 per ounce.

Cash Taxes

The Company's expected effective tax rate continues to be approximately 34% to 36% for the full year 2026. Total cash taxes paid in the second quarter of 2026 were $623 million. For the first half of 2026, total cash taxes paid were $2.4 billion, which included a $1.3 billion payment in the first quarter of 2026 for the remaining cash tax liability for 2025. This represents approximately 70% of total cash taxes expected for 2026. The remaining cash taxes in 2026 are expected to be paid in quarterly installments ranging between $525 million and $575 million.

Cost Considerations Amid Continued Market Uncertainty

The Company does not currently anticipate any significant risk of disruption to fuel, consumables or parts supplies across its operations and anticipates that any volatility of fuel and commodity prices and currency exchange rates from ongoing geopolitical uncertainty will be captured within its 2026 cost guidance ranges.

The Company's full year 2026 cost guidance is based on an assumed diesel benchmark price of $0.78 per litre (excluding transportation and taxes). With the commencement of the 2026 sealift subsequent to the quarter, the Company has purchased approximately 70% of its diesel requirements for its Nunavut operations for the balance of 2026 and through to the 2027 sealift, representing approximately 130 million litres of diesel. These purchases were made at prices approximately 30% higher than budgeted for 2026, net of hedges. The Company expects to complete its purchase of its remaining Nunavut diesel requirements in the third quarter of 2026 and will continue to monitor market conditions and opportunistically add to its diesel hedges. These purchases are expected to reduce the Company's exposure to diesel price volatility for the remainder of 2026 and into 2027.

Diesel represents approximately 10% of the Company's operating costs, comprising approximately 7% related to direct consumption for mobile equipment and on-site power generation, and approximately 3% related to transportation and freight. Taking into account the diesel purchased to date as part of the 2026 sealift, the Company estimates that a 10% change in diesel prices would impact total cash costs per ounce by approximately $4 for the second half of 2026. For indirect diesel exposure related to transportation, a 10% change in diesel prices is estimated to impact total cash costs per ounce by approximately $2.

The Company's full year 2026 cost guidance is based on assumed exchange rates of 1.36 C$/US$, 1.18 US$/EUR, 1.40 A$/US$ and 17.50 MXN/US$.

Based on its C$/US$ exchange rate assumption for 2026 cost estimates, the Company has hedged approximately 60% of its estimated remaining Canadian dollar exposure for 2026 at an average floor price providing protection in respect of exchange rate movements below 1.38 C$/US$, while allowing for participation in respect of exchange rate movements up to an average of 1.42 C$/US$.

The stronger US dollar, combined with higher by-product metal prices, particularly for silver and copper, have helped mitigate the impact of diesel price inflationary pressures compared to the Company's full year 2026 cost guidance. The Company will continue to monitor market conditions and anticipates continuing to opportunistically add to its operating currency and diesel hedges to strategically support its key input costs for 2026.

Tariffs

The international trade disputes set in motion in February 2025 by US tariffs, retaliatory tariffs and other actions remain fluid. The Company continues to believe that its revenue structure will be largely unaffected by the tariffs as its gold production is mostly refined in Canada, Australia or Europe. Accordingly, the cost guidance provided in this news release does not include any potential further impact from such tariffs or trade disputes. The Company continues to monitor its exposure to the tariffs and trade disputes and its alternatives to inputs sourced from suppliers that are or may become subject to the tariffs or other trade disputes.

Strong Net Cash Position Supports Increase in Shareholder Returns

Cash and cash equivalents increased by $352 million from the prior quarter, primarily due to cash provided by operating activities resulting from strong operating margins (higher gold sales volume, partially offset by lower realized gold prices) and $261 million of proceeds received from the sale of equity securities. The increase was partially offset by $809 million of capital expenditures (including working capital adjustments), $625 million returned to shareholders during the quarter through dividends and share repurchases under the NCIB and $578 million related to the acquisition of properties in Finland.

As at June 30, 2026, the Company's total long-term debt was $197 million, consistent with the prior quarter. No amounts were outstanding under the Company's unsecured revolving bank credit facility as at June 30, 2026 and available liquidity under the facility remained at approximately $2 billion, not including the uncommitted $1 billion accordion feature.

Net cash increased to $3,267 million in the second quarter of 2026 compared to the prior quarter balance of $2,915 million due to the increase in cash and cash equivalents of $352 million.

In April 2026, Fitch Ratings upgraded the Company's investment grade credit rating to A- with a Stable Outlook, reflecting the Company's strong operating profile, favourable low-cost position and sustained commitment to a strengthening balance sheet. In July, Moody's Ratings completed a periodic review and maintained the Company's A3 Stable Outlook investment grade credit rating, highlighting the Company's strong scale, low leverage, mine diversity in favourable mining jurisdictions and conservative financial policies. The Company strives to maintain a strong financial position and investment grade balance sheet.

Shareholder Returns

The Company remains committed to delivering strong returns to shareholders in 2026 through a combination of the dividend and share repurchases under the NCIB, with a target to return approximately 40% of annual free cash flow to shareholders, assuming current gold prices and subject to operational needs.

The Company continues to evaluate opportunities to reduce the dilution associated with the acquisition of Rupert Resources Ltd., including potentially using the proceeds from portfolio investment sales to fund share repurchases under the NCIB. In the second quarter of 2026, proceeds received from the sale of equity securities were $261 million, which supported increased share repurchase activity and record shareholder returns for the quarter.

Normal Course Issuer Bid

The Company renewed the NCIB for another year in May 2026 on substantially the same terms which is subject to a maximum of 5% of the issued and outstanding common shares. The Company also increased its internal limit on purchases of common shares to $2 billion. Purchases under the NCIB may continue for up to one year from its commencement on May 6, 2026.

In the second quarter of 2026, the Company repurchased 2,235,947 common shares under the NCIB at an average price of $178.86 per share for aggregate purchases of $400 million. In the first six months of 2026, the Company repurchased 2,957,158 common shares under the NCIB at an average price of $185.89 per share for aggregate purchases of $550 million.

The Company believes that the NCIB is a flexible and effective complementary tool that, together with the quarterly dividend, is part of the Company's overall capital allocation program and generates value for shareholders.

Dividend Record and Payment Dates for the Third Quarter of 2026

The Company's Board of Directors has declared a quarterly cash dividend of $0.45 per common share, payable on September 15, 2026 to shareholders of record as of September 1, 2026. Agnico Eagle has declared a cash dividend every year since 1983.

Expected Dividend Record and Payment Dates for the 2026 Fiscal Year

Record Date	Payment Date
March 2, 2026	March 16, 2026*
June 1, 2026	June 15, 2026*
September 1, 2026	September 15, 2026**
December 1, 2026	December 15, 2026

* Paid

** Declared

Dividend Reinvestment Plan

For information on the Company's dividend reinvestment plan, see Dividend Reinvestment Plan.

International Dividend Currency Exchange

For information on the Company's international dividend currency exchange program, please contact Computershare Trust Company of Canada by phone at 1.800.564.6253 or online at www.investorcentre.com or www.computershare.com/investor.

Commitment to Sustainability – Second Quarter 2026 Highlights

Continued focus on health and safety performance
- The Company continued to reinforce its safety culture during the quarter, implementing a global safety reset across all operations following the fatal accidents at Canadian Malartic in April 2026 as previously disclosed in the news release dated April 30, 2026 and at Upper Beaver in May 2026. Through engagement with employees and contractors, the Company reaffirmed its core commitment that the safety of its workforce should take precedence over all other objectives. Ongoing initiatives include accelerating the identification and implementation of critical controls to mitigate major hazards and reinforcing organizational behaviours that promote a continued focus on creating and sustaining an injury and fatality-free workplace
- The Canadian Institute of Mining, Metallurgy and Petroleum awarded Detour Lake the John T. Ryan Safety Trophy, highlighting outstanding safety performance among mines in Eastern Canada

Supporting communities in Nunavut through investment and engagement
- In May 2026, the Company announced the extension of its partnership with the Nunavut Housing Corporation under the Nunavut 3000 initiative. This partnership commits more than C$10 million over five years to support the annual shipment of approximately 22 to 25 housing units across the Kitikmeot and Kivalliq regions. Building on the successful delivery of 20 housing units in 2025, the initiative continues to address one of Nunavut's most pressing challenges by improving access to affordable housing. The Company also renewed its five-year, C$5 million partnership with the Breakfast Club of Canada program in Nunavut, supporting daily access to nutritious breakfast programs for over 5,000 students in 22 schools across the Kitikmeot and Kivalliq regions, helping improve attendance, learning outcomes and overall well-being while investing in the next generation of the territory's workforce
- The Company launched season two of its award-winning podcast, The Arctic Edge, featuring stories and perspectives from Nunavut and Canada's Arctic. Season two explores themes including sovereignty, food security, housing, energy and community-driven growth, while continuing to amplify northern and Indigenous voices. The podcast reinforces the Company's commitment to advancing meaningful dialogue and promoting a deeper understanding of the North's rich cultural heritage and growing importance to Canada's future
Reconciliation Action Plan ("RAP") Progress Report published – In June 2026, the Company released its inaugural RAP Progress Report, covering progress through 2024 and 2025 and reinforcing its commitment to transparency, accountability and meaningful reconciliation with Indigenous Peoples across its operations
- Since the RAP was released in 2024, the Company's employees have completed over 8,300 hours of Indigenous cultural awareness training and the Company has signed six new agreements with Indigenous Rights-holders, increasing the total number of active agreements to 23
- In 2024 and 2025, the Company led the Canadian mining sector with C$346 million in direct financial contributions to Indigenous Nations. Globally, the Company made C$378 million in direct financial contributions to Indigenous Nations and awarded over C$3 billion in contracts to Indigenous businesses
- In 2025, the Company established an Indigenous Advisory Committee, comprised of Indigenous leaders whose expertise supports the ongoing implementation of the RAP
- All of the Company's operations achieved AA or AAA ratings in 2024 and 2025 under the Towards Sustainable Mining Indigenous and Community Relationships protocol
- The Company's RAP Progress Report can be accessed here

Key Value Drivers – Advancing the Next Phase of Growth

The Company is advancing a disciplined growth strategy aimed at enhancing the gold production profile in the short-term and supporting a pathway to increase annual gold production by 20% to 30% over the next decade, with a first step-up in production expected in 2030 and the potential to exceed 4.0 million ounces in the early 2030s. The growth is anchored in the expansions of Canadian Malartic and Detour Lake, as well as the construction of Upper Beaver, Hope Bay and San Nicolás, which are located in regions where the Company operates and has technical expertise, established community relationships, existing infrastructure and established supply chains, supporting compelling risk-adjusted returns.

The forecast parameters surrounding certain projects, including Detour Lake underground, Upper Beaver, Hope Bay and the "fill-the-mill" strategy at Canadian Malartic (Odyssey Shaft #1, Odyssey Shaft #2, Marban, Wasamac), were based on internal evaluations, which are preliminary in nature and include inferred mineral resources. For further information see Notes to Investors Regarding Certain Project Evaluations below.

Canadian Malartic – Potential for 400,000 to 500,000 ounces of incremental annual gold production

The Company continues to advance the transition to underground mining with the construction of the Odyssey mine, including the development of Odyssey Shaft #1. The Company is also advancing internal evaluations on three projects that, together, have the potential to increase annual gold production towards one million ounces starting as early as 2033. These projects include (i) a second shaft at Odyssey, (ii) the development of a satellite open pit at Marban, and (iii) the development of the Wasamac underground project. Marban and Wasamac are located approximately 12 kilometres and 100 kilometres from the Canadian Malartic mill, respectively. The Company believes that the rock mass movement that occurred at the Barnat open pit at Canadian Malartic on July 1, 2026, will not affect the development or production outlook for the Odyssey mine. Refer to the "Abitibi Region, Quebec" section below for further updates on the Barnat open pit.

Odyssey Development

In the second quarter of 2026, mine development remained focused on advancing the main ramp, which reached a depth of 1,190 metres as of June 30, 2026, the excavation of the ventilation raises, the development of the East Gouldie production levels and the excavation of the first loading station infrastructure. While development rates were affected by higher ground support requirements and increased material handling demands at depth, the Company continued to advance key productivity initiatives, including haul truck payload optimization, the ongoing truck conversion to enable autonomous hauling, expanded use of automated development equipment and testing of a fleet management system. With these initiatives, the Company expects to achieve its targeted development rate of approximately 2,000 metres per month in the fourth quarter of 2026. The excavation of the first ventilation raise from surface to level 58 was completed during the quarter, with the commissioning of the main exhaust fan station now expected in the third quarter of 2026.

Construction of the first loading station at Shaft #1 between levels 102 and 111 continued during the quarter, with completion of the crusher concrete pilasters and the start of structural installation. Upcoming activities include the installation of the crusher and apron feeders, as well as the development of the loading conveyor area. Development and construction activities remain on schedule to support the planned start of shaft‑hoisted production from East Gouldie in the second quarter of 2027. The first phase of shaft sinking was nearly completed, with the last bench taken on July 9, 2026, reaching a depth of 1,586 metres. The headframe changeover is expected to start in the third quarter of 2026, following the excavation of level 158. A second phase of sinking is expected to commence in 2029 with completion in 2031, extending the shaft to its final expected depth of 1,870 metres. The third loading station, located between levels 172 and 181, is expected to be completed and commissioned in 2031.

Construction of key surface infrastructure progressed, with the operational complex completed during the quarter. Phase two of the paste plant (designed for 20,000 tonnes per day ("tpd") capacity) remains on schedule for completion in the first half of 2027 to support production start-up from the shaft. Assembly of the production hoist commenced in the second quarter of 2026, with the fixed and clutch drum assemblies completed and the 12,000-horsepower variable frequency drive and transformers installed. Commissioning of the production hoist is expected in the second quarter of 2027.

Odyssey Shaft #2

The Company is advancing an internal technical evaluation of a potential second shaft at the Odyssey mine. Drilling of the geotechnical pilot hole at the planned location has been completed to a depth of 1,800 metres. Current work is focused on mine design, planning and geotechnical analysis to support a higher mining rate, surface layout, headframe design and preparatory activities to support the permitting process. The evaluation is expected to be completed in the fourth quarter of 2026.

Exploration at Odyssey

During the second quarter of 2026, 10 surface rigs and seven underground rigs were in operation at the Odyssey mine, drilling a total of 42,743 metres. This was supplemented by an additional three surface rigs, completing 13,789 metres of drilling dedicated to regional exploration around Canadian Malartic, including the Marban project.

Exploration drilling targeted multiple areas of the Odyssey mine, continuing to return positive results in the upper eastern and deeper areas of the East Gouldie deposit and in the internal zones of the Odyssey deposit.

In the upper eastern extension of the East Gouldie deposit, underground drilling returned several high-grade results, including hole UGEG-075-062 intersecting 5.1 g/t gold over 14.3 metres at 916 metres depth; and hole UGEG-071-034 intersecting 6.6 g/t gold over 10.8 metres at 1,046 metres depth and 6.1 g/t gold over 11.6 metres at 1,133 metres depth. This portion of the deposit has the potential to offer a second mining area in the upper levels of the mine that would provide additional operational flexibility and potentially higher grade material than the current average mineral reserve grade of the East Gouldie deposit.

Hole MEX25-354 was drilled as a pilot hole for the proposed Shaft #2 and extended a further 300 metres during the second quarter to test the lower limit of the East Gouldie deposit where it intersected 1.9 g/t gold over 16.4 metres (core length, true width undetermined) at 1,917 metres depth, 3.8 g/t gold over 19.2 metres (core length) at 1,951 metres depth, including 11.2 g/t gold over 3.8 metres (core length) at 1,945 metres depth, and 2.6 g/t gold over 15.8 metres (core length) at 1,978 metres depth. The results further demonstrate the potential for additional mineralization at depth in the East Gouldie deposit in proximity to planned infrastructure.

Conversion drilling in the Odyssey deposit encountered significant mineralization in the lower portion of the porphyry in the newly identified Artemis zone within the Odyssey internal zones. Results from the Artemis zone were highlighted by hole UGOD-057-013 intersecting 10.7 g/t gold over 7.0 metres (core length) at 1,039 metres depth, 4.5 g/t gold over 13.5 metres (core length) at 1,057 metres depth and 13.7 g/t gold over 14.6 metres (core length) at 1,078 metres depth; and hole UGOD-057-017 intersecting 7.4 g/t gold over 6.7 metres (core length) at 1,003 metres depth. Ongoing drilling at Artemis is expected to further enhance the geological understanding of this new zone.

Selected recent drill intersections from the Odyssey mine are set out in the composite longitudinal section below and in a table in the Appendix.

[Odyssey – Composite Cross and Longitudinal Sections]

Marban

At the Marban deposit, located approximately 12 kilometres from the Canadian Malartic mill, the Company envisions the potential development of a satellite open pit operating at a planned mining rate between 14,000 to 16,000 tpd and producing approximately 120,000 to 150,000 ounces of gold annually over a mine life of approximately 12 years with the potential for initial production as early as 2033.

During the second quarter of 2026, the conversion and condemnation drilling program in the northern and eastern extensions of the Marban deposit was completed and a new drilling program commenced that is targeting deeper mineralization northwest of the main Marban deposit. Exploration, conversion, condemnation and geotechnical drilling at Marban during the first half of 2026 totalled 28,390 metres in 98 holes.

Wasamac

At Wasamac, the Company envisions an underground satellite operation with a planned mining rate of approximately 3,200 tpd. Ore is expected to be transported to the Canadian Malartic mill for processing, with average annual gold production expected to be approximately 90,000 ounces with the potential for initial production as early as 2033. In the second quarter of 2026, the Company continued to advance optimization and trade‑off studies alongside permitting activities and engagement with stakeholders.

Detour Lake – Potential for 300,000 to 350,000 ounces of incremental annual gold production

In the second quarter of 2026, 316 metres of lateral development were completed, for a total of 1,263 metres completed to-date, including development of the exploration ramp which reached a depth of 180 metres as of June 30, 2026. The Company is ramping up its workforce and integrating additional equipment in preparation for the commencement of multi‑face development expected to begin in the third quarter of 2026. Extension of the exploration ramp to the planned bulk‑sampling location at level 200 is expected to be completed in the first half of 2027. The Company expects to provide a project update in 2027, including the potential to begin underground production from the West Extension zone as early as 2028.

Other activities supporting the underground project during the second quarter of 2026 include overburden excavation for the conveyor ramp portal near the mill, with underground ramp development planned to begin in the first half of 2027. Work also progressed on the camp expansion and detailed engineering for the paste plant, ore-handling system, underground infrastructure and electrical infrastructure, with a focus on the procurement of long lead items.

At Detour Lake during the second quarter of 2026, exploration drilling from surface using nine drill rigs totalled 52,763 metres (91,815 metres during the first half of 2026). The program continued to expand and infill the mineralization below and to the west of the mineral resource pit. The first underground drill rig was mobilized in the exploration ramp in March 2026, with underground exploration drilling totalling 2,130 metres during the second quarter (2,856 metres during the first half of 2026). A second underground drill rig is planned to be added in the fourth quarter of 2026.

The Company continued the high-intensity drilling program targeting Domain 54 in the West Pit zone during the second quarter to validate the continuity of mineralization and improve the accuracy of the geological model to complement the planned bulk sample at level 200. Highlights from this drilling included hole DLM26-1334AW intersecting 2.5 g/t gold over 62.3 metres at 275 metres depth, including 15.2 g/t gold over 5.9 metres at 264 metres depth; and hole DLM26-1324 intersecting 4.5 g/t gold over 15.3 metres at 229 metres depth, including 10.0 g/t gold over 4.9 metres at 233 metres depth, and 8.3 g/t gold over 4.3 metres at 268 metres depth.

Drilling in the West Extension zone, approximately 1.0 kilometre west of the resource-pit outline, continued to extend the underground mineral potential to the west with highlights of hole DLM26-1297A intersecting 13.5 g/t gold over 2.5 metres at 564 metres depth, 4.2 g/t gold over 6.7 metres at 610 metres depth and 4.6 g/t gold over 10.8 metres at 902 metres depth, including 14.7 g/t gold over 2.7 metres at 899 metres depth.

Drilling that tested the West Extension zone, approximately 2.3 kilometres west of the resource-pit outline, was highlighted by hole DLM26-1290 intersecting 20.8 g/t gold over 4.8 metres at 836 metres depth.

Selected recent drill intersections from Detour Lake are set out in the composite longitudinal section below and in a table in the Appendix.

[ Detour Lake – Composite Longitudinal Section]

Upper Beaver – Potential for 200,000 to 225,000 ounces of annual gold production and 3,600 tonnes of copper

Located approximately 20 kilometres from the Company's Macassa mine, the Upper Beaver project is envisioned as a standalone mine and mill, with the potential to produce 200,000 to 225,000 ounces of gold and 3,600 tonnes of copper per year, based on a planned mining and milling rate of 5,000 tpd.

Development activities continued to progress well in the second quarter of 2026, with the exploration ramp and exploration shaft reaching depths of 165 metres and of 478 metres, respectively, as at June 30, 2026.

The high-intensity exploration drilling program at Upper Beaver was completed during the second quarter of 2026. The program was completed at a 20-metre spacing and focused on a portion of the Upper Beaver deposit between approximately 500 to 600 metres depth dominated by vein systems representative of the larger deposit. The primary objective of the high-intensity drilling is to validate the mineral resource model and assess grade-variability within the most representative geological zones. The high-intensity drilling program is expected to complement the planned bulk sample at the 760‑metre level and has the potential to bring forward initial production to early 2030.

The high-intensity drilling program started with zone 201 in late 2025 and continued with zone 107 during the first half of 2026. Recent highlights from zone 107 include hole KLUB26-915W7 intersecting 8.4 g/t gold and 0.10% copper over 6.8 metres at 558 metres depth, including 17.4 g/t gold and 0.31% copper over 1.5 metres at 561 metres depth; and hole KLUB26-917W5 intersecting 8.3 g/t gold and 0.26% copper over 4.5 metres at 682 metres depth and 12.0 g/t gold and 0.55% copper over 5.6 metres at 691 metres depth, including 28.8 g/t gold and 1.01% copper over 1.6 metres at 692 metres depth.

With the high-intensity drilling program now completed, an internal review of the results is underway that will include analysis of any impact on the deposit model and on the mineral reserves and mineral resources estimate.

The Company is also evaluating an expanded exploration program, including extending the shaft to a depth of 1,220 metres, as contemplated in the 2024 internal evaluation, and establishing additional drill stations to support infill and potential mineral resource expansion in the lower portion of the deposit. The Company expects to provide a project update in 2027.

Selected recent drill intersections from Upper Beaver are set out in the composite longitudinal section below and in a table in the Appendix.

[ Upper Beaver – Composite Cross and Longitudinal Sections]

Hope Bay – Potential for 400,000 to 435,000 ounces of annual gold production

On May 19, 2026, the Company announced a positive investment decision for the Hope Bay project, supported by a preliminary economic assessment (the "Study") envisioning an underground mining operation with a 6,000 tpd processing facility. The Study outlined estimated annual gold production of 400,000 to 435,000 ounces over an initial 11-year mine life and demonstrated strong economics, including an after-tax IRR of greater than 20% at a gold price of $4,000 per ounce. With only 55% of the total measured mineral resources and indicated mineral resources and 48% of the total inferred mineral resources included in the mine plan, the project offers significant long-term growth potential supported by ongoing exploration across the highly prospective 80-kilometre greenstone belt extending from the Doris mine to the Boston deposit. Refer to the Company news release dated May 19, 2026, for further details.

During the quarter, detailed engineering continued to advance, reaching approximately 67% completion as of June 30, 2026, with a focus on reducing execution risk and refining capital cost estimates. Planning and procurement activities also progressed as scheduled in preparation for the upcoming sealift season, with 73% of 2026 procurement completed and on track to support the first sealift, expected in August 2026.

Construction activities at Hope Bay continued to advance during the quarter. At Doris, work progressed on upgrades to the camp and office facilities, as well as construction of the power plant foundations. At Madrid, mine development advanced by 707 metres during the quarter, with the Naartok East ramp reaching a depth of 125 metres and the Naartok West ramp reaching a depth of 105 metres. Development of the dewatering infrastructure at Naartok East remains on schedule and is progressing ahead of the planned start of the Suluk ramp. Infrastructure and ramp development will continue through 2026, with a total of 3.3 kilometres planned. At Patch 7, excavation of the portal boxcut for the dedicated ramp was completed and ramp development began in July. A total of 393 metres of development is planned at Patch 7 for 2026.

Exploration and conversion drilling at Hope Bay totalled 36,740 metres during the second quarter (69,400 metres during the first half of 2026), utilizing up to six surface drill rigs at the Madrid and Boston deposits. Activities were primarily focused on the Patch 7 and Suluk zones of the Madrid deposit, including 30,557 metres of conversion drilling and 2,913 metres of mineral-resource expansion drilling.

At Patch 7, recent highlights from the conversion drilling included HBM26-466 intersecting 13.7 g/t gold over 15.4 metres at 609 metres depth, HBM26-478A intersecting 15.2 g/t gold over 15.6 metres at 710 metres depth and HBM26-481 intersecting 18.5 g/t gold over 11.3 metres at 328 metres depth. Exploration drilling returned highlight hole HBM26-469 intersecting 31.6 g/t gold over 3.8 metres at 852 metres depth in one of the deepest intersections of the Patch 7 zone to date.

Drilling into the Suluk zone was highlighted by hole HBM26-464 intersecting 6.7 g/t gold over 8.9 metres at 129 metres depth, further demonstrating the potential for mineral resource expansion at shallow depths near planned infrastructure.

These results are expected to contribute positively to the mineral resource estimate and updated prefeasibility study planned to be completed at year-end 2026.

Selected recent drill intersections from the Madrid deposit are set out in the composite longitudinal section below and in a table in the Appendix.

[ Mad rid Deposit at Hope Bay – Composite Longitudinal Section ]

In the second quarter of 2026, the Company started its first exploration drill program at the Boston deposit since acquiring Hope Bay in 2021. The Boston deposit is located approximately 50 kilometres south of Madrid and was not included in the Study. The program is progressing well, with 3,270 metres completed to date. Total drilling in 2026 is now expected to be approximately 6,500 metres in eight holes due to strong drilling productivity.

San Nicolás Copper Project (50/50 joint venture with Teck Resources Limited)

Minas de San Nicolás ("MDSN") received the land use change (ETJ) and the environmental impact assessment (MIA-R) permits in July 2026, marking an important milestone for the responsible development of the San Nicolás Project. MDSN acknowledges the detailed and exhaustive work of the Mexican authorities throughout the permitting process and remains committed to regulatory compliance, environmental stewardship and creating shared value for local communities. MDSN is now expected to advance the additional permits, authorizations and licenses required under Mexican law before construction or operations can commence.

Concurrently, MDSN continues to advance detailed engineering and critical infrastructure work designed to reduce execution risk and refine capital costs estimates, while accelerating construction and operational readiness activities to position the project for a potential sanction decision, subject to the receipt of the required permits and authorizations.

Drilling activities are continuing with a focus on condemnation drilling and geological evaluation in proximity to the projected mine area.

Second Quarter 2026 Operating Results

Regional operating statistics and highlights for the second quarter of 2026 are set out below. See the MD&A under the caption "Financial and Operating Results" for a variance analysis on gold production, production costs, minesite costs per tonne and total cash costs per ounce compared to the prior-year period.

ABITIBI REGION, QUEBEC

Gold Production for the First Half of 2026 in Line with Plan; Update on Barnat Operations; Record Quarterly Gold Production at Odyssey

Abitibi Quebec – Operating Statistics
Three Months Ended June 30, 2026	LaRonde	Canadian Malartic	Goldex	Consolidated Abitibi Quebec
Tonnes of ore milled (thousands)	713	4,387	817	5,917
Tonnes of ore milled per day	7,835	48,209	8,978	65,022
Gold grade (g/t)	3.80	1.06	1.35	1.43
Gold production (ounces)	81,261	135,243	29,277	245,781
Production costs per tonne (C$)	C$ 219	C$ 40	C$ 69	C$ 65
Minesite costs per tonne (C$)¹⁰	C$ 183	C$ 52	C$ 71	C$ 70
Production costs per ounce	$ 1,390	$ 933	$ 1,394	$ 1,139
Total cash costs per ounce	$ 953	$ 1,185	$ 1,081	$ 1,096

Six Months Ended June 30, 2026	LaRonde	Canadian Malartic	Goldex	Consolidated Abitibi Quebec
Tonnes of ore milled (thousands)	1,489	9,094	1,630	12,213
Tonnes of ore milled per day	8,227	50,243	9,006	67,476
Gold grade (g/t)	3.67	1.13	1.35	1.47
Gold production (ounces)	162,857	301,459	58,649	522,965
Production costs per tonne (C$)	C$ 186	C$ 39	C$ 69	C$ 61
Minesite costs per tonne (C$)	C$ 179	C$ 51	C$ 68	C$ 69
Production costs per ounce	$ 1,234	$ 850	$ 1,378	$ 1,029
Total cash costs per ounce	$ 990	$ 1,082	$ 998	$ 1,044

__________________________________

¹⁰ Minesite costs per tonne is a non-GAAP measure that is not standardized under IFRS Accounting Standards. For a description of the composition and usefulness of this non-GAAP measure and a reconciliation to production costs see Note Regarding Certain Measures of Performance below.

Regional Highlights

Gold production in the second quarter of 2026 was in line with plan at LaRonde and Goldex while gold production at Canadian Malartic was affected by an unscheduled 6-day mill shutdown related to the fatal accident in April. Despite the lower than expected gold production at Canadian Malartic in the second quarter of 2026, gold production for the first half of 2026 was in line with plan
At LaRonde, strong underground performance resulted in ore tonnes mined exceeding plan, primarily driven by positive reconciliation in the East Mine. The additional volumes are expected to support mill throughput during the planned underground maintenance shutdown in the third quarter of 2026
At LaRonde, the Company continued to advance its automation initiatives, with approximately 25% of ore mucking completed using automated loaders during the first half of 2026. At LZ5, automated trucking performance continued to improve, achieving an average of approximately 2,030 tonnes per fully automated shift during June 2026. In addition, optimization initiatives enabled approximately 10% of total production to be completed between shifts, enhancing productivity and equipment utilization
At Odyssey, gold production was a record and in line with plan at 28,800 ounces, with production from East Gouldie ramping up during the quarter
At LaRonde, quarterly shutdowns are scheduled in the third and fourth quarters of 2026 for regular maintenance at the mill, each planned for four to five days. Canadian Malartic has four-day quarterly shutdowns planned in 2026 for regular maintenance at the mill. Goldex has two to three-day quarterly shutdowns planned for regular maintenance at the mill
An update on Odyssey and the "fill-the-mill" strategy is set out in the Key Value Drivers – Advancing the Next Phase of Growth section above

Update on Barnat Open Pit at Canadian Malartic

On July 1, 2026, a rock mass movement occurred along the north wall of the Barnat open pit as previously disclosed in the news release dated July 2, 2026. The area affected was, at the time, subject to enhanced geotechnical monitoring and no injuries, equipment damage or environmental impacts resulted from the event. As a precautionary measure and prior to the rock mass movement, the Company temporarily suspended mining operations in the Barnat open pit, while completing geotechnical assessments and implementing remediation measures to support the safe and orderly resumption of mining activities
The rock mass movement occurred in a localized area of the final north wall of the open pit and involved approximately one million tonnes of material. While the geotechnical investigation is still ongoing, the event is believed to have been caused by weaker altered rock and structures associated with the Cadillac Fault, with ground conditions further influenced by freshet and recent heavy rainfall
Under the current remediation plan, the moved rock mass material will remain in place and a safety rock catchment area and berm will be constructed along portions of the north wall. A new temporary access ramp alongside the southwest wall, completed in July 2026, will provide access to a redesigned open pit, with final pit and remediation designs currently being refined. Remediation work is expected to be completed in the third quarter of 2026, with mining activities anticipated to resume in the fourth quarter of 2026. Enhanced safety protocols, monitoring and action response plans will remain in place throughout the remediation period and following the resumption of mining activities
As reported on July 2, 2026, the event is expected to reduce gold production at Canadian Malartic by 60,000 to 80,000 ounces in the second half of 2026, and by up to 150,000 ounces in each of 2027 and 2028. Feed to the Canadian Malartic processing plant is being supplemented with low-grade ore from existing stockpiles, partially mitigating the production impact. Reflecting the lower production levels and remediation costs, total cash costs per ounce at Canadian Malartic are now expected to be approximately $1,260 for full year 2026, compared with prior guidance of $1,187. The Company continues to assess opportunities to further mitigate the impact on production and costs

ABITIBI REGION, ONTARIO

Strong Mill Performance and Higher Grades Support Gold Production at Detour Lake; Record Quarterly Mill Throughput at Macassa for Second Consecutive Quarter

Abitibi Ontario – Operating Statistics
Three Months Ended June 30, 2026	Detour Lake	Macassa	Consolidated Abitibi Ontario
Tonnes of ore milled (thousands)	7,305	236	7,541
Tonnes of ore milled per day	80,275	2,593	82,868
Gold grade (g/t)	0.97	10.96	1.28
Gold production (ounces)	207,279	80,143	287,422
Production costs per tonne (C$)	C$ 29	C$ 413	C$ 41
Minesite costs per tonne (C$)	C$ 33	C$ 492	C$ 47
Production costs per ounce	$ 741	$ 877	$ 779
Total cash costs per ounce	$ 825	$ 1,041	$ 885

Six Months Ended June 30, 2026	Detour Lake	Macassa	Consolidated Abitibi Ontario
Tonnes of ore milled (thousands)	14,053	385	14,438
Tonnes of ore milled per day	77,641	2,127	79,768
Gold grade (g/t)	0.93	11.33	1.21
Gold production (ounces)	384,298	135,736	520,034
Production costs per tonne (C$)	C$ 32	C$ 512	C$ 44
Minesite costs per tonne (C$)	C$ 34	C$ 557	C$ 48
Production costs per ounce	$ 838	$ 1,052	$ 894
Total cash costs per ounce	$ 894	$ 1,129	$ 955

Regional Highlights

Regional gold production for the quarter was led by Detour Lake. Strong production at Detour Lake was driven by a higher grade sequence and a strong mine and mill performance. At Macassa, the mill achieved record quarterly throughput for the second consecutive quarter
At Detour Lake, a record of 30.6 million tonnes of ore and waste were extracted from the open pit, driven by higher rope shovel utilization and availability. Mill performance remained strong, with record tonnes of ore milled per day of 80,275 and mill runtime at approximately 96%, higher than anticipated, with the seven-day planned shutdown completed in July
At Macassa, commissioning of the new 3,600 tpd paste plant progressed during the quarter, including underground distribution system testing, operator training, and process calibration. The plant is operational and undergoing final optimization activities, with full transition of paste production from the existing plant expected during the third quarter of 2026
Trucking of ore from the AK deposit to the LZ5 processing facility at LaRonde for milling commenced in the second quarter of 2026 following the permit amendment approval. The LZ5 mill processed 71,000 tonnes of ore from the AK deposit and produced 7,800 ounces of gold
Detour Lake has scheduled shutdowns for regular mill maintenance in the third and fourth quarters of 2026, each lasting seven days. Macassa has scheduled a five-day shutdown in the third quarter of 2026 for the replacement of the primary grinding mill liner, the annual overhaul of the crusher and other regular mill maintenance
Updates on the Detour Lake underground and Upper Beaver projects are set out in the Key Value Drivers – Advancing the Next Phase of Growth section above

NUNAVUT

Record Quarterly Mill Throughput at Meliadine Supported by Strong Hauling Performance; Quarterly Production at Meadowbank Affected by Freshet, Full-Year Guidance Remains on Track

Nunavut – Operating Statistics
Three Months Ended June 30, 2026	Meliadine	Meadowbank	Consolidated Nunavut
Tonnes of ore milled (thousands)	648	1,013	1,661
Tonnes of ore milled per day	7,121	11,132	18,253
Gold grade (g/t)	4.77	3.41	3.94
Gold production (ounces)	97,516	100,165	197,681
Production costs per tonne (C$)	C$ 260	C$ 204	C$ 226
Minesite costs per tonne (C$)	C$ 215	C$ 167	C$ 186
Production costs per ounce	$ 1,255	$ 1,494	$ 1,376
Total cash costs per ounce	$ 1,033	$ 1,206	$ 1,121

Six Months Ended June 30, 2026	Meliadine	Meadowbank	Consolidated Nunavut
Tonnes of ore milled (thousands)	1,206	2,112	3,318
Tonnes of ore milled per day	6,669	11,669	18,338
Gold grade (g/t)	5.10	3.49	4.08
Gold production (ounces)	191,347	214,027	405,374
Production costs per tonne (C$)	C$ 247	C$ 218	C$ 228
Minesite costs per tonne (C$)	C$ 241	C$ 162	C$ 191
Production costs per ounce	$ 1,128	$ 1,557	$ 1,355
Total cash costs per ounce	$ 1,096	$ 1,139	$ 1,119

Regional Highlights

Gold production in the quarter was lower than planned, primarily as a result of lower than anticipated grades at Meadowbank as well as challenging freshet conditions and greater than expected rainfall in June which affected the open pit ore mined
At Meliadine, strong open pit hauling performance drove higher ore tonnes mined and the mill achieved record quarterly throughput of 648,000 tonnes. Gold production was in line with plan as higher ore tonnes processed were offset by lower than anticipated grades
At Meadowbank, gold grades were lower than planned as a result of mine sequencing. Gold production for the full year 2026 remains in line with plan
Meliadine has scheduled a four-day shutdown for regular mill maintenance in the third quarter of 2026. Meadowbank has scheduled a five-day shutdown in the fourth quarter of 2026 to replace the SAG and ball mill liners and complete other regular mill maintenance
Exploration drilling at Meliadine was highlighted by hole ML425-8846-D15 intersecting 10.9 g/t gold over 6.6 metres at 694 metres depth in the western deep extension of the Tiriganiaq deposit and hole ML425-10071-D9 intersecting 9.0 g/t gold over 4.9 metres at 663 metres depth approximately 150 metres north of mineral resources in the eastern portion of the deposit. Step-out drilling at the Wesmeg North deposit returned 11.3 g/t gold over 7.7 metres at 744 metres depth in hole ML425-9408-D20 and 10.1 g/t gold over 3.0 metres at 855 metres depth in hole ML425-9408-D1C, approximately 200 metres below current mineral resources, further demonstrating the depth potential of mineralization at Wesmeg North
An update on Hope Bay is set out in the Key Value Drivers – Advancing the Next Phase of Growth section above

AUSTRALIA

Strong Production at Fosterville Supported by Higher Grades; Primary Ventilation System Upgrade Completed

Fosterville – Operating Statistics	Three Months Ended June 30, 2026	Six Months Ended June 30, 2026
Tonnes of ore milled (thousands)	204	420
Tonnes of ore milled per day	2,242	2,320
Gold grade (g/t)	6.68	6.49
Gold production (ounces)	42,012	83,455
Production costs per tonne (A$)	A$ 365	A$ 336
Minesite costs per tonne (A$)	A$ 341	A$ 328
Production costs per ounce	$ 1,230	$ 1,165
Total cash costs per ounce	$ 1,114	$ 1,118

Highlights

Gold production in the quarter was higher than planned driven by higher gold grades primarily as a result of positive grade reconciliation and higher mill recovery. The increase in production was partially offset by lower throughput as a result of lower volumes mined from the Phoenix and Harrier zones as the Company completed and commissioned an upgrade to the underground primary ventilation system to sustain the mining rate in the Lower Phoenix zones in future years
At the processing plant, ongoing work to upgrade the grinding circuit and related ancillary equipment continued during the quarter, including the installation of a new BIOX tank. The mill upgrades are expected to achieve the targeted 3,300 tpd throughput starting in 2028
Fosterville has scheduled quarterly five-day shutdowns for regular mill maintenance in 2026
Deep exploration drilling at Fosterville in the Lower Phoenix structure was highlighted by hole UDH5161 intersecting 9.6 g/t gold over 10.2 metres at 1,785 metres depth in the Cardinal zone, approximately 40 metres down-plunge from mineral reserves; hole UDH5162A intersecting 16.8 g/t gold over 4.5 metres at 1,789 metres depth in the Cardinal zone, approximately 40 metres above a previously interpreted plunging visible-gold trend; and hole UDH5178 intersecting 5.1 g/t gold over 21.4 metres at 1,845 metres depth in the Swan zone, approximately 55 metres south of current mineral reserves. At Robbins Hill, drilling was highlighted by hole UDH5188 intersecting 9.9 g/t gold over 6.0 metres at 810 metres depth in the SW Linker 1 zone and laterally from the nearby Hoffman mineral reserves; and hole UDH5214 intersecting 9.1 g/t gold over 4.8 metres at 477 metres depth in the Curie zone immediately above current mineral reserves

FINLAND

Record Quarterly Mill Throughput Drives Strong Production; Optimization Initiatives Continue to Deliver Excellent Cost Performance

Kittila – Operating Statistics	Three Months Ended June 30, 2026	Six Months Ended June 30, 2026
Tonnes of ore milled (thousands)	583	1,031
Tonnes of ore milled per day	6,407	5,696
Gold grade (g/t)	4.07	4.12
Gold production (ounces)	61,969	110,496
Production costs per tonne (€)	€ 100	€ 113
Minesite costs per tonne (€)	€ 104	€ 112
Production costs per ounce	$ 1,091	$ 1,227
Total cash costs per ounce	$ 1,133	$ 1,212

Highlights – Kittila

Gold production in the quarter was above plan, driven primarily by record mill throughput and higher grades, partially offset by lower recovery. Higher gold grades reflect positive grade reconciliation
Mill recovery remained lower than planned at 81%. The Company continues to advance several recovery improvement initiatives, including the optimization of reagent usage based on feed blend, the addition of new instrumentation at the autoclave for process optimization and pilot testing of a heated leach plant
Underground operations delivered solid performance during the quarter, with development in line with plan. The mine continues to achieve productivity gains, reflecting sustained improvement initiatives implemented over the past year and partially offsetting increases in royalty costs and energy costs during the quarter
Kittila has scheduled a 17-day shutdown for regular maintenance on the mill and autoclave relining in the fourth quarter of 2026
Exploration drilling at Kittila extended Main Zone mineralization northwards by up to 60 metres beyond current mineral resources in the Seuru area at moderate depths. Highlights included hole SEU-602 intersecting 5.9 g/t gold over 6.7 metres at 961 metres depth and hole SEU25-700L intersecting 5.4 g/t gold over 6.2 metres at 1,401 metres depth

Highlights – Ikkari Project and Contingent Value Rights

On April 20, 2026, the Company announced a comprehensive consolidation of properties in the Central Lapland Greenstone Belt of Northern Finland through the acquisitions of Rupert Resources Ltd. ("Rupert") and Aurion Resources Ltd. ("Aurion") and the acquisition of the 70% interest in Fingold Ventures Ltd. held by B2Gold Corp. (the other 30% held by Aurion). These transactions consolidate a highly prospective 2,492 km² land package encompassing the Kittila mine, the advanced Ikkari exploration project and substantial exploration upside across multiple targets, including several recent discoveries. The transactions were completed in the second quarter of 2026 as set out below:
- On April 22, 2026, the Company acquired B2Gold's 70% interest of FinGold JV for cash consideration of $325 million
- On June 15, 2026, the Company acquired all of the outstanding common shares of Aurion (the "Aurion Shares"), other than the Aurion Shares then-held by Agnico Eagle. Each Aurion Share was acquired for C$2.60 in cash, for aggregate consideration of $339 million (C$474.5 million)
- On June 16, 2026, the Company acquired all of the outstanding common shares of Rupert (the "Rupert Shares"), other than the Rupert Shares then-held by Agnico Eagle for: (i) 0.0401 of a common share of Agnico Eagle (aggregate consideration of $1,687 million); and (ii) contingent consideration with a value of up to C$3.00 per share, in the form of a contingent value right ("CVR"). Each CVR has a term of 10 years from the June 16, 2026 issue date and entitles the holder thereof to receive up to $3.00 in cash upon certain milestones being reached in respect of the properties acquired from Rupert (the "Acquired Properties"). The milestones and related payments under the CVRs are:

a) $1.00 upon the public announcement of at least 5 million ounces of gold in mineral reserves on the Acquired Properties;

b) $1.00 upon the public announcement of both: (i) the Acquired Properties achieving commercial production; and (ii) the Acquired Properties reaching 7.5 million ounces of gold in aggregate mineral reserves and production; and

c) $1.00 upon the public announcement of both: (i) the Acquired Properties achieving commercial production; and (ii) the Acquired Properties reaching 10 million ounces of gold in aggregate mineral reserves and production. There can be no assurance that any of the above milestones will be satisfied prior to the expiry of the CVRs or that any holder of CVRs will receive any payment thereunder.

Following the completion of these transactions, the Company advanced integration activities, including the transfer of employees, alignment of business systems and processes and ongoing stakeholder engagement. Exploration drilling by the Company has commenced at Ikkari, including condemnation drilling to support infrastructure placement and project development planning, with additional step-out drilling expected along the Ikkari trend as the Company increases drilling capacity on the property. Concurrently, technical review and validation work is progressing to support future mine planning and the completion of an internal evaluation for the optimized mine design targeted by the end of 2027
As at July 29, 2026, the Company had 207,654,166 CVRs outstanding. The Company's obligation to make payments under the CVRs is conditional on the satisfaction of certain payment conditions prior to the expiry of the CVRs, as described in the contingent value rights agreement dated June 16, 2026 between the Company and Computershare Trust Company of Canada, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca

MEXICO

Strong Performance at Pinos Altos and Cubiro Drives Higher Mill Throughput

Pinos Altos – Operating Statistics	Three Months Ended June 30, 2026	Six Months Ended June 30, 2026
Tonnes of ore milled (thousands)	442	869
Tonnes of ore milled per day	4,857	4,801
Gold grade (g/t)	1.54	1.45
Gold production (ounces)	20,951	38,601
Production costs per tonne	$ 133	$ 143
Minesite costs per tonne	$ 132	$ 134
Production costs per ounce	$ 2,796	$ 3,231
Total cash costs per ounce	$ 1,873	$ 2,073

About Agnico Eagle

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

About this News Release

Unless otherwise stated, references to "Canadian Malartic", "Goldex", "LaRonde" and "Meadowbank" are to the Company's operations at the Canadian Malartic complex, the Goldex complex, the LaRonde complex and the Meadowbank complex, respectively. The Canadian Malartic complex consists of the mining, milling and processing operations at the Canadian Malartic mine and the mining operations at the Odyssey mine. The Goldex complex consists of the mining, milling and processing operations at the Goldex mine and the mining operations at the Akasaba West open pit mine. The LaRonde complex consists of the mining, milling and processing operations at the LaRonde mine and the mining and processing operations at LZ5. The Meadowbank complex consists of the milling and processing operations at the Meadowbank mine and the mining operations at the Amaruq open pit and underground mines. References to other operations are to the relevant mines, projects or properties, as applicable.

When used in this news release, the terms "including" and "such as" mean including and such as, without limitation.

The information contained on any website linked to or referred to herein (including the Company's website) is not part of this news release.

Note Regarding Certain Measures of Performance

This news release discloses certain financial performance measures, including "total cash costs per ounce", "minesite costs per tonne", "all-in sustaining costs per ounce" (or "AISC per ounce"), "adjusted net income", "cash provided by operating activities before changes in non-cash components of working capital", "EBITDA", which means earnings before interest, taxes, depreciation and amortization, "adjusted EBITDA", "free cash flow", "free cash flow before changes in non-cash components of working capital", "operating margin", "capital expenditures", "sustaining capital expenditures", "development capital expenditures", "sustaining capitalized exploration", "development capitalized exploration" and "net cash (debt)", as well as, for certain of these measures their related per share measures that are not standardized measures under IFRS Accounting Standards. These measures may not be comparable to similar measures reported by other gold producers and should be considered together with other data prepared in accordance with IFRS Accounting Standards. See below for a reconciliation of these measures to the most directly comparable financial information reported in the condensed interim consolidated financial statements for the three months ended March 31, 2026 (the "First Quarter Financial Statements") prepared in accordance with IFRS Accounting Standards. Adjustments that are not applicable in respect of the periods for which reconciliations are provided are not shown in the quantitative reconciliation.

Total Cash Costs per Ounce of Gold Produced and Minesite Costs per Tonne

Total Cash Costs per Ounce

Total cash costs per ounce is calculated on a per ounce of gold produced basis and is reported either on a by-product basis (deducting the impact of by-product metals from production costs to isolate the cost of producing an ounce of gold) and, where indicated, on a co-product basis (without deducting the impact of by-product metals). Total cash costs per ounce on a by-product basis are calculated by adjusting production costs as recorded in the Second Quarter Financial Statements for (i) the impact of by-products, (ii) inventory production costs, (iii) the impact of purchase price allocation in connection with mergers and acquisitions on inventory accounting, (iv) realized gains and losses on hedges of production costs, (v) in-kind royalty costs, and (vi) smelting, refining and marketing charges and then dividing by the number of ounces of gold produced. For periods commencing on or after January 1, 2026, the Company also adjusts production costs for the NTI Payment (as discussed further below), which adjustment only affects this non-GAAP measure only insofar as the measure includes costs from Meadowbank (that is, for Meadowbank, the Nunavut region and the consolidated Company). The Company's calculation of total cash costs per ounce for other mines and regions that do not include Meadowbank are not affected by this change.

The NTI Payment is the payment to Nunavut Tunngavik Inc. ("NTI") under the Company's mineral production lease in respect of the Amaruq mine at Meadowbank, which is a royalty based on net profits, subject to a minimum profit margin ("NTI Payment"). NTI is the body that represents the Inuit of Nunavut under the Nunavut Land Claims Agreement and holds the subsurface mineral rights on certain parcels of Inuit owned land, including at the Amaruq mine. The royalty payments under the mining leases with NTI are based on net profits at the mine, subject to a cap on allowable costs as a percentage of gross revenue. At mines located on lands in Nunavut where the subsurface mineral rights are not held by NTI (whether or not on Inuit owned lands), the Crown holds the subsurface mineral rights and imposes a net profits royalty (the "Crown royalty") under the Nunavut Mining Regulations (the "NMR"). The Company does not include the Crown royalty in its calculations of total cash costs per ounce and certain other of its non-GAAP measures as the Company classifies these costs as an income tax for financial statement purposes in accordance with IFRS Accounting Standards and income taxes are generally excluded from the calculation of such non-GAAP measures. The Crown royalty is not applicable where NTI is the holder of the subsurface mineral rights. Where NTI is holder of the subsurface mineral rights, the Company instead is required to make the payment under the mining leases with NTI, which the Company views as having similar characteristics to the payments under the Crown royalty. Accordingly, to ensure comparability across the Company's mines in Nunavut, the Company revised its calculation of such non-GAAP measures to also adjust for the NTI Payment where applicable. In this news release, total cash costs per ounce for periods that commenced prior to January 1, 2026 have been calculated using this revised methodology.

Investors should note that total cash costs per ounce are not reflective of all cash expenditures, as they do not include income tax payments, interest costs or dividend payments. Total cash costs per ounce on a co-product basis is calculated in the same manner as the total cash costs per ounce on a by-product basis, except that the impact of by-product metals is not deducted. Accordingly, the calculation of total cash costs per ounce on a co-product basis does not reflect a reduction in production costs or smelting, refining and marketing charges associated with the production of by-product metals.

Total cash costs per ounce is intended to provide investors information about the cash-generating capabilities of the Company's mining operations. Management also uses these measures to, and believes they are helpful to investors so investors can, understand and monitor the performance of the Company's mining operations. The Company believes that total cash costs per ounce is useful to help investors understand the costs associated with producing gold and the economics of gold mining. As market prices for gold are quoted on a per ounce basis, using the total cash costs per ounce on a by-product basis measure allows management and investors to assess a mine's cash-generating capabilities at various gold prices. Management is aware, and investors should note, that these per ounce measures of performance can be affected by fluctuations in exchange rates and, in the case of total cash costs per ounce of gold produced on a by-product basis, by-product metal prices. Management compensates for these inherent limitations by using, and investors should also consider using, these measures in conjunction with data prepared in accordance with IFRS Accounting Standards and minesite costs per tonne as these measures are not necessarily indicative of operating costs or cash flow measures prepared in accordance with IFRS Accounting Standards. Management also performs sensitivity analyses in order to quantify the effects of fluctuating metal prices and exchange rates.

Agnico Eagle's primary business is gold production and the focus of its current operations and future development is on maximizing returns from gold production, with other metal production being incidental to the gold production process. Accordingly, all metals other than gold are considered by-products.

In this news release, unless otherwise indicated, total cash costs per ounce is reported on a by-product basis. Total cash costs per ounce is reported on a by-product basis because (i) gold is the Company's primary product and source of substantially all its revenues, (ii) the Company mines ore, which may contain gold, silver, zinc, copper and other metals, and the Company believes that isolating the cost of producing gold is a more meaningful measure of operating performance, (iii) it is a method used by management and the Board to monitor operations, and (iv) many other gold producers disclose similar measures on a by-product rather than a co-product basis.

Minesite Costs per Tonne

Minesite costs per tonne are calculated by adjusting production costs as recorded in the Second Quarter Financial Statements for (i) inventory production costs, (ii) in-kind royalty costs, and (iii) smelting, refining and marketing charges, and then dividing by tonnage of ore processed. For periods commencing on or after January 1, 2026, the Company also adjusts production costs for the NTI Payment (as discussed above in "Total Cash Costs per Ounce"), which adjustment only affects minesite costs per tonne at Meadowbank and for the Nunavut region. The Company's calculation of minesite costs per tonne for other mines and regions other than the Nunavut region are not affected by this change. In this news release, minesite costs for periods that commenced prior to January 1, 2026 have been calculated using this revised methodology.

As the total cash costs per ounce can be affected by fluctuations in by-product metal prices and foreign exchange rates, management believes that minesite costs per tonne is useful to investors in providing additional information regarding the performance of mining operations, eliminating the impact of varying production levels. Management also uses this measure to determine the economic viability of mining blocks. As each mining block is evaluated based on the net realizable value of each tonne mined, in order to be economically viable the estimated revenue on a per tonne basis must be in excess of the minesite costs per tonne. For the reasons noted above in respect of revisions to the composition of total cash costs per ounce, for the purposes of calculating this non-GAAP measure, the Company now adjusts production costs for the amount of the NTI Payment. The Company believes that this revision is helpful to both management and investors as it better reflects the cost performance at the Amaruq mine at Meadowbank and makes the reported measure more comparable across all of the Company's mines. Management is aware, and investors should note, that this per tonne measure of performance can be affected by fluctuations in processing levels. This inherent limitation may be partially mitigated by using this measure in conjunction with production costs and other data prepared in accordance with IFRS Accounting Standards.

The following table sets out the production costs per minesite for the three and six months ended June 30, 2026 and June 30, 2025, as presented in the Second Quarter Financial Statements in accordance with IFRS Accounting Standards.

Total Production Costs by Mine
	Three Months Ended June 30,		Six Months Ended June 30,
*(thousands of United States dollars)*	2026	2025	2026	2025
LaRonde	112,940	83,734	200,948	170,378
Canadian Malartic	126,188	115,383	256,134	234,672
Goldex	40,826	37,690	80,825	72,346
Quebec	279,954	236,807	537,907	477,396
Detour Lake	153,621	141,330	322,000	276,276
Macassa	70,266	48,266	142,731	98,092
Ontario	223,887	189,596	464,731	374,368
Meliadine	122,373	113,093	215,932	196,915
Meadowbank	149,641	106,039	333,256	233,006
Nunavut	272,014	219,132	549,188	429,921
Fosterville	51,693	38,018	97,186	71,058
Australia	51,693	38,018	97,186	71,058
Kittila	67,623	55,064	135,632	110,897
Finland	67,623	55,064	135,632	110,897
Pinos Altos	58,587	50,570	124,701	93,280
Mexico	58,587	50,570	124,701	93,280

Production costs per the Second Quarter Financial Statements	$ 953,758	$ 789,187	$ 1,909,345	$ 1,556,920

The following tables set out a reconciliation of total cash costs per ounce (on both a by-product basis and co-product basis) and minesite costs per tonne to production costs for the three and six months ended June 30, 2026 and June 30, 2025, exclusive of amortization, as presented in the Second Quarter Financial Statements in accordance with IFRS Accounting Standards.

Reconciliation of Production Costs to Total Cash Costs per Ounce by Mine

Three Months Ended June 30, 2026
*(United States dollars in thousands, except per ounce measures or as otherwise noted)*
Mine	Payable gold production (ounces)⁽ⁱ⁾	Production costs ($)	Production costs per ounce ($)	Inventory adjustments ($)⁽ⁱⁱ⁾	Realized (gains) and losses on hedges ($)	In-kind royalty costs and NTI Payment ($)⁽ⁱⁱⁱ⁾	Smelting, refining and marketing charges ($)	Total cash costs per ounce (co- product basis) ($)	Impact of by-product metals ($)	Total cash costs per ounce (by- product basis) ($)
LaRonde	81,261	112,940	1,390	(12,495)	(29)	--	1,026	1,248	(23,990)	953
Canadian Malartic	135,243	126,188	933	7,881	(459)	30,977	418	1,220	(4,770)	1,185
Goldex	29,277	40,826	1,394	1,154	(10)	--	1,362	1,480	(11,671)	1,081
Quebec	245,781	279,954	1,139	(3,460)	(498)	30,977	2,806	1,260	(40,431)	1,096
Detour Lake	207,279	153,621	741	2,004	(1,098)	17,949	1,226	838	(2,685)	825
Macassa	80,143	70,266	877	10,262	(26)	2,909	50	1,041	(7)	1,041
Ontario	287,422	223,887	779	12,266	(1,124)	20,858	1,276	895	(2,692)	885
Meliadine	97,516	122,373	1,255	(21,670)	(32)	--	83	1,033	--	1,033
Meadowbank	100,165	149,641	1,494	3,670	(40)	(31,406)	107	1,218	(1,167)	1,206
Nunavut	197,681	272,014	1,376	(18,000)	(72)	(31,406)	190	1,127	(1,167)	1,121
Fosterville	42,012	51,693	1,230	(3,251)	(1,208)	--	44	1,125	(466)	1,114
Australia	42,012	51,693	1,230	(3,251)	(1,208)	--	44	1,125	(466)	1,114
Kittila	61,969	67,623	1,091	2,794	(1)	--	(41)	1,136	(157)	1,133
Finland	61,969	67,623	1,091	2,794	(1)	--	(41)	1,136	(157)	1,133
Pinos Altos	20,951	58,587	2,796	406	(869)	--	497	2,798	(19,384)	1,873
Mexico	20,951	58,587	2,796	406	(869)	--	497	2,798	(19,384)	1,873
Consolidated	855,816	953,758	1,114	(9,245)	(3,772)	20,429	4,772	1,129	(64,297)	1,054

Notes:
(i)	Gold production for the three months ended June 30, 2026 excludes 440 ounces of payable production of gold at La India and 58 ounces of payable production of gold at Creston Mascota, which were produced from residual leaching.
(ii)	Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic for the three months ended June 30, 2026 is $5.8 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(iii)	In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of total cash costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Three Months Ended June 30, 2025
*(United States dollars in thousands, except per ounce measures or as otherwise noted)*
Mine	Payable gold production (ounces)⁽ⁱ⁾	Production costs ($)	Production costs per ounce ($)	Inventory adjustments ($)⁽ⁱⁱ⁾	Realized (gains) and losses on hedges ($)	In-kind royalty costs and NTI Payment ($)⁽ⁱⁱⁱ⁾	Smelting, refining and marketing charges ($)	Total cash costs per ounce (co- product basis) ($)	Impact of by-product metals ($)	Total cash costs per ounce (by- product basis) ($)
LaRonde	91,252	83,734	918	2,459	76	--	3,751	986	(16,359)	807
Canadian Malartic	172,531	115,383	669	10,841	158	27,132	567	893	(2,940)	876
Goldex	33,118	37,690	1,138	(422)	31	--	1,154	1,161	(6,593)	962
Quebec	296,901	236,807	798	12,878	265	27,132	5,472	952	(25,892)	864
Detour Lake	168,272	141,330	840	2,429	199	9,383	1,697	921	(1,231)	914
Macassa	87,364	48,266	552	2,911	75	4,076	74	634	(674)	626
Ontario	255,636	189,596	742	5,340	274	13,459	1,771	823	(1,905)	816
Meliadine	90,263	113,093	1,253	(12,255)	106	--	144	1,120	(697)	1,112
Meadowbank	101,935	106,039	1,040	(1,348)	146	(6,377)	264	968	(1,382)	955
Nunavut	192,198	219,132	1,140	(13,603)	252	(6,377)	408	1,040	(2,079)	1,029
Fosterville	49,574	38,018	767	901	--	--	37	786	(156)	783
Australia	49,574	38,018	767	901	--	--	37	786	(156)	783
Kittila	50,357	55,064	1,093	2,909	(605)	--	(63)	1,138	(181)	1,134
Finland	50,357	55,064	1,093	2,909	(605)	--	(63)	1,138	(181)	1,134
Pinos Altos	21,363	50,570	2,367	1,323	(85)	--	309	2,440	(9,361)	2,002
Mexico	21,363	50,570	2,367	1,323	(85)	--	309	2,440	(9,361)	2,002
Consolidated	866,029	789,187	911	9,748	101	34,214	7,934	971	(39,574)	925

Notes:
(i)	Gold production for the three months ended June 30, 2025 excludes 858 ounces of payable production of gold at La India and 39 ounces of payable production of gold at Creston Mascota, which were produced from residual leaching.
(ii)	Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic for the three months ended March 31, 2025 is $1.4 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(iii)	In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of total cash costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Six Months Ended June 30, 2026
*(thousands of United States dollars, except as noted)*
Mine	Payable gold production (ounces)⁽ⁱ⁾	Production costs ($)	Production costs per ounce ($)	Inventory adjustments ($)⁽ⁱⁱ⁾	Realized (gains) and losses on hedges ($)	In-kind royalty and NTI Payment ($)⁽ⁱⁱⁱ⁾	Smelting, refining and marketing charges ($)	Total cash costs per ounce (co- product basis) ($)	Impact of by- product metals ($)	Total cash costs per ounce (by- product basis) ($)
LaRonde	162,857	200,948	1,234	4,669	(350)	--	4,314	1,287	(48,291)	990
Canadian Malartic	301,459	256,134	850	12,659	(1,164)	68,286	1,373	1,119	(11,232)	1,082
Goldex	58,649	80,825	1,378	(699)	(129)	--	2,423	1,405	(23,888)	998
Quebec	522,965	537,907	1,029	16,629	(1,643)	68,286	8,110	1,203	(83,411)	1,044
Detour Lake	384,298	322,000	838	(7,659)	(2,130)	35,318	2,148	910	(6,218)	894
Macassa	135,736	142,731	1,052	3,192	(329)	8,836	107	1,139	(1,270)	1,129
Ontario	520,034	464,731	894	(4,467)	(2,459)	44,154	2,255	970	(7,488)	955
Meliadine	191,347	215,932	1,128	(5,337)	(402)	--	222	1,100	(631)	1,096
Meadowbank	214,027	333,256	1,557	(2,401)	(500)	(82,689)	272	1,158	(4,189)	1,139
Nunavut	405,374	549,188	1,355	(7,738)	(902)	(82,689)	494	1,131	(4,820)	1,119
Fosterville	83,455	97,186	1,165	(1,469)	(2,022)	--	113	1,124	(466)	1,118
Australia	83,455	97,186	1,165	(1,469)	(2,022)	--	113	1,124	(466)	1,118
Kittila	110,496	135,632	1,227	(1,260)	(10)	--	(69)	1,215	(343)	1,212
Finland	110,496	135,632	1,227	(1,260)	(10)	--	(69)	1,215	(343)	1,212
Pinos Altos	38,601	124,701	3,231	(6,838)	(1,745)	--	1,598	3,050	(37,697)	2,073
Mexico	38,601	124,701	3,231	(6,838)	(1,745)	--	1,598	3,050	(37,697)	2,073
Consolidated	1,680,925	1,909,345	1,136	(5,143)	(8,781)	29,751	12,501	1,153	(134,225)	1,073

Notes:
(i)	Gold production for the six months ended June 30, 2026 excludes 858 ounces of payable production of gold at La India and 134 ounces of payable production of gold at Creston Mascota, which were produced from residual leaching.
(ii)	Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic for the six months ended June 30, 2026 is $9.4 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(iii)	In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of total cash costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Six Months Ended June 30, 2025
*(thousands of United States dollars, except as noted)*
Mine	Payable gold production (ounces)⁽ⁱ⁾	Production costs ($)	Production costs per ounce ($)	Inventory adjustments ($)⁽ⁱⁱ⁾	Realized (gains) and losses on hedges ($)	In-kind royalty and NTI Payment ($)⁽ⁱⁱⁱ⁾	Smelting, refining and marketing charges ($)	Total cash costs per ounce (co- product basis) ($)	Impact of by- product metals	Total cash costs per ounce (by- product basis) ($)
LaRonde	182,743	170,378	932	(2,289)	789	--	6,530	960	(33,581)	776
Canadian Malartic	332,304	234,672	706	16,236	1,294	51,720	837	917	(5,529)	900
Goldex	63,134	72,346	1,146	(314)	332	--	2,121	1,180	(13,842)	961
Quebec	578,181	477,396	826	13,633	2,415	51,720	9,488	959	(52,952)	868
Detour Lake	321,110	276,276	860	2,065	1,077	18,083	3,000	936	(2,119)	929
Macassa	173,392	98,092	566	4,775	794	7,610	161	643	(1,175)	636
Ontario	494,502	374,368	757	6,840	1,871	25,693	3,161	833	(3,294)	826
Meliadine	188,775	196,915	1,043	(6,396)	998	--	228	1,016	(697)	1,012
Meadowbank	242,061	233,006	963	(3,011)	1,304	(13,795)	299	900	(2,132)	891
Nunavut	430,836	429,921	998	(9,407)	2,302	(13,795)	527	951	(2,829)	944
Fosterville	93,189	71,058	763	3,421	--	--	53	800	(270)	797
Australia	93,189	71,058	763	3,421	--	--	53	800	(270)	797
Kittila	104,461	110,897	1,062	1,803	(431)	--	(119)	1,074	(294)	1,071
Finland	104,461	110,897	1,062	1,803	(431)	--	(119)	1,074	(294)	1,071
Pinos Altos	38,654	93,280	2,413	3,523	29	--	568	2,520	(17,123)	2,077
Mexico	38,654	93,280	2,413	3,523	29	--	568	2,520	(17,123)	2,077

Consolidated	1,739,823	1,556,920	895	19,813	6,186	63,618	13,678	954	(76,762)	910

Notes:
(i)	Gold production for the six months ended June 30, 2025 excludes 2,669 ounces of payable production of gold at La India and 64 ounces of payable of gold at Creston Mascota, which were produced from residual leaching.
(ii)	Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic for the six months ended June 30, 2025 is $2.5 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(iii)	In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of total cash costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Reconciliation of Production Costs to Minesite Costs per Tonne by Mine

Three Months Ended June 30, 2026
*(thousands, except per tonne measures or as otherwise noted)*
Mine	Tonnes of ore milled (thousands)	Production costs ($)	Production costs in local currency	Local currency production costs per tonne	Inventory adjustments in local currency⁽ⁱ⁾	In-kind royalty and NTI Payment in local currency⁽ⁱⁱ⁾	Smelting, refining and marketing charges in local currency	Local currency minesite costs per tonne
LaRonde	713	$ 112,940	C$ 156,211	C$ 219	C$ (16,492)	C$ --	C$ (9,237)	C$ 183
Canadian Malartic	4,387	$ 126,188	C$ 173,987	C$ 40	C$ 53,982	C$ (1)	C$ --	C$ 52
Goldex	817	$ 40,826	C$ 56,582	C$ 69	C$ 1,711	C$ --	C$ --	C$ 71
Quebec	5,917	$ 279,954	C$ 386,780	C$ 65	C$ 39,201	C$ (1)	C$ (9,237)	C$ 70
Detour Lake	7,305	$ 153,621	C$ 212,621	C$ 29	C$ 2,968	C$ 24,995	C$ --	C$ 33
Macassa	236	$ 70,266	C$ 97,364	C$ 413	C$ 14,563	C$ 4,192	C$ --	C$ 492
Ontario	7,541	$ 223,887	C$ 309,985	C$ 41	C$ 17,531	C$ 29,187	C$ --	C$ 47
Meliadine	648	$ 122,373	C$ 168,774	C$ 260	C$ (29,326)	C$ --	C$ --	C$ 215
Meadowbank	1,013	$ 149,641	C$ 206,735	C$ 204	C$ 5,440	C$ (42,776)	C$ --	C$ 167
Nunavut	1,661	$ 272,014	C$ 375,509	C$ 226	C$ (23,886)	C$ (42,776)	C$ --	C$ 186
Fosterville	204	$ 51,693	A$ 74,457	A$ 365	A$ (4,976)	A$ --	A$ --	A$ 341
Australia	204	$ 51,693	A$ 74,457	A$ 365	A$ (4,976)	A$ --	A$ --	A$ 333
Kittila	583	$ 67,623	€ 58,195	€ 100	€ 2,474	€ --	€ --	€ 104
Finland	583	$ 67,623	€ 58,195	€ 100	€ 2,474	€ --	€ --	€ 104
Pinos Altos	442	$ 58,587	$ 58,587	$ 133	$ (462)	$ --	$ --	$ 132
Mexico	442	$ 58,587	$ 58,587	$ 133	$ (462)	$ --	$ --	$ 132

Notes:
(i)	This inventory adjustment reflects production costs associated with the portion of production still in inventory. Included in inventory adjustments for Canadian Malartic for the three months ended June 30, 2026 is C$8.0 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(ii)	In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of minesite costs per tonne. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Three Months Ended June 30, 2025
*(thousands, except per tonne measures or as otherwise noted)*
Mine	Tonnes of ore milled (thousands)	Production costs ($)	Production costs (local currency)	Production costs per tonne (local currency)	Inventory adjustments (local currency)⁽ⁱ⁾	In-kind royalty costs (local currency)⁽ⁱⁱ⁾	Smelting, refining and marketing charges (local currency)	Minesite costs per tonne (local currency)
LaRonde	674	$ 83,734	C$ 116,035	C$ 172	C$ 2,966	C$ --	C$ (7,056)	C$ 166
Canadian Malartic	4,963	$ 115,383	C$ 159,348	C$ 32	C$ 14,254	C$ 37,270	C$ --	C$ 42
Goldex	819	$ 37,690	C$ 52,257	C$ 64	C$ (895)	C$ --	C$ --	C$ 63
Quebec	6,456	$ 236,807	C$ 327,640	C$ 51	C$ 16,325	C$ 37,270	C$ (7,056)	C$ 58
Detour Lake	6,836	$ 141,330	C$ 196,403	C$ 29	C$ 2,328	C$ 12,887	C$ --	C$ 31
Macassa	143	$ 48,266	C$ 66,005	C$ 462	C$ 3,954	C$ 5,584	C$ --	C$ 529
Ontario	6,979	$ 189,596	C$ 262,408	C$ 38	C$ 6,282	C$ 18,471	C$ --	C$ 41
Meliadine	545	$ 113,093	C$ 158,074	C$ 290	C$ (19,587)	C$ --	C$ --	C$ 254
Meadowbank	692	$ 106,039	C$ 145,678	C$ 211	C$ (2,682)	C$ (8,533)	C$ --	C$ 194
Nunavut	1,237	$ 219,132	C$ 303,752	C$ 246	C$ (22,269)	C$ (8,533)	C$ --	C$ 221
Fosterville	188	$ 38,018	A$ 58,194	A$ 309	A$ 1,135	A$ --	A$ --	A$ 315
Australia	188	$ 38,018	A$ 58,194	A$ 310	A$ 1,135	A$ --	A$ --	A$ 315
Kittila	482	$ 55,064	€ 48,363	€ 100	€ 1,996	€ --	€ --	€ 104
Finland	482	$ 55,064	€ 48,363	€ 102	€ 1,996	€ --	€ --	€ 104
Pinos Altos	441	$ 50,570	$ 50,570	$ 115	$ 1,238	$ --	$ --	$ 118
Mexico	441	$ 50,570	$ 50,570	$ 115	$ 1,238	$ --	$ --	$ 118

Notes:
(i)	This inventory adjustment reflects production costs associated with the portion of production still in inventory. Included in inventory adjustments for Canadian Malartic for the three months ended June 30, 2025 is C$2.0 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(ii)	In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of minesite costs per tonne. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Six Months Ended June 30, 2026
*(thousands of United States dollars, except as noted)*
Mine	Tonnes of ore milled (thousands)	Production costs ($)	Production costs in local currency	Local currency production costs per tonne	Inventory adjustments in local currency⁽ⁱ⁾	In-kind royalty and NTI Payment in local currency⁽ⁱⁱ⁾	Smelting, refining and marketing charges in local currency	Local currency minesite costs per tonne
LaRonde	1,489	200,948	C$ 277,238	C$ 186	C$ 7,141	C$ --	C$ (18,461)	C$ 179
Canadian Malartic	9,094	256,134	C$ 352,809	C$ 39	C$ 111,635	C$ --	C$ --	C$ 51
Goldex	1,630	80,825	C$ 111,634	C$ 69	C$ (943)	C$ --	C$ --	C$ 68
Quebec	12,213	537,907	C$ 741,681	C$ 61	C$ 117,833	C$ --	C$ (18,461)	C$ 69
Detour Lake	14,053	322,000	C$ 443,686	C$ 32	C$ (10,358)	C$ 48,829	C$ --	C$ 34
Macassa	385	142,731	C$ 197,137	C$ 512	C$ 4,879	C$ 12,400	C$ --	C$ 557
Ontario	14,438	464,731	C$ 640,823	C$ 44	C$ (5,479)	C$ 61,229	C$ --	C$ 48
Meliadine	1,206	215,932	C$ 297,484	C$ 247	C$ (7,152)	C$ --	C$ --	C$ 241
Meadowbank	2,112	333,256	C$ 459,496	C$ 218	C$ (2,927)	C$ (113,592)	C$ --	C$ 162
Nunavut	3,318	549,188	C$ 756,980	C$ 228	C$ (10,079)	C$ ( 113,592)	C$ --	C$ 191
Fosterville	420	97,186	A$ 140,927	A$ 336	A$ (3,106)	A$ --	A$ --	A$ 328
Australia	420	97,186	A$ 140,927	A$ 336	A$ (3,106)	A$ --	A$ --	A$ 328
Kittila	1,031	135,632	€ 116,176	€ 113	€ (888)	€ --	€ --	€ 112
Finland	1,031	135,632	€ 116,176	€ 113	€ (888)	€ --	€ --	€ 112
Pinos Altos	869	124,701	$ 124,701	$ 143	$ (8,583)	$ --	$ --	$ 134
Mexico	869	124,701	$ 124,701	$ 143	$ (8,583)	$ --	$ --	$ 134

Notes:
(i)	This inventory adjustment reflects production costs associated with the portion of production still in inventory. Included in inventory adjustments for Canadian Malartic for the six months ended June 30, 2026 is C$13.0 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(ii)	In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of minesite costs per tonne. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Six Months Ended June 30, 2025
*(thousands of United States dollars, except as noted)*
Mine	Tonnes of ore milled (thousands)	Production costs ($)	Production costs in local currency	Local currency production costs per tonne	Inventory adjustments in local currency⁽ⁱ⁾	In-kind royalty and NTI Payment in local currency⁽ⁱⁱ⁾	Smelting, refining and marketing charges in local currency	Local currency minesite costs per tonne
LaRonde mine	709	125,186	C$ 176,243	C$ 249	C$ (1,519)	C$ --	C$ (13,203)	C$ 228
LZ5	640	45,192	C$ 63,551	C$ 99	C$ (1,666)	C$ --	C$ --	C$ 97
LaRonde	1,349	170,378	C$ 239,794	C$ 178	C$ (3,185)	C$ --	C$ (13,203)	C$ 166
Canadian Malartic	9,828	234,672	C$ 328,611	C$ 33	C$ 22,204	C$ 72,670	C$ --	C$ 43
Goldex	1,611	72,346	C$ 101,756	C$ 63	C$ (565)	C$ --	C$ --	C$ 63
Quebec	12,788	477,396	C$ 670,161	C$ 52	C$ 18,454	C$ 72,670	C$ (13,203)	C$ 59
Detour Lake	13,466	276,276	C$ 388,036	C$ 29	C$ 2,341	C$ 25,442	C$ --	C$ 31
Macassa	291	98,092	C$ 137,464	C$ 472	C$ 6,646	C$ 10,692	C$ --	C$ 531
Ontario	13,757	374,368	C$ 525,500	C$ 38	C$ 8,987	C$ 36,134	C$ --	C$ 41
Meliadine	1,103	196,915	C$ 276,854	C$ 251	C$ (10,860)	C$ --	C$ --	C$ 241
Meadowbank	1,729	233,006	C$ 325,614	C$ 188	C$ (5,107)	C$ (19,230)	C$ --	C$ 174
Nunavut	2,832	429,921	C$ 602,468	C$ 213	C$ (15,967)	C$ (19,230)	C$ --	C$ 200
Fosterville	351	71,058	A$ 110,167	A$ 314	A$ 5,316	A$ --	A$ --	A$ 329
Australia	351	71,058	A$ 110,167	A$ 314	A$ 5,316	A$ --	A$ --	A 329
Kittila	1,004	110,897	€ 101,506	€ 101	€ 634	€ --	€ --	€ 102
Finland	1,004	110,897	€ 101,506	€ 101	€ 634	€ --	€ --	€ 102
Pinos Altos	822	93,280	$ 93,280	$ 113	$ 3,552	$ --	$ --	$ 118
Mexico	822	93,280	$ 93,280	$ 113	$ 3,552	$ --	$ --	$ 118

Notes:
(i)	This inventory adjustment reflects production costs associated with the portion of production still in inventory. Included in inventory adjustments for Canadian Malartic for the six months ended June 30, 2025 is C$3.6 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(ii)	In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of minesite costs per tonne. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

All-in sustaining costs per ounce

All-in sustaining costs per ounce (also referred to as "AISC per ounce") on a by-product basis is calculated as the aggregate of (i) total cash costs on a by-product basis, (ii) sustaining capital expenditures (including capitalized exploration), (iii) general and administrative expenses (including stock option expense), (iv) lease payments related to sustaining assets and (v) reclamation expenses, each as measured on a per ounce of production basis. These additional costs reflect the additional expenditures that are required to be made to maintain current production levels. AISC per ounce on a co-product basis is calculated in the same manner as AISC per ounce on a by-product basis, except that the total cash costs on a co-product basis are used, meaning the impact of by-product metals is not deducted. Investors should note that AISC per ounce is not reflective of all cash expenditures as it does not include income tax payments, interest costs or dividend payments, nor does it include non-cash expenditures, such as depreciation and amortization. In this news release, unless otherwise indicated, all-in sustaining costs per ounce is reported on a by-product basis (see "Total Cash Costs per Ounce" for a discussion of regarding the Company's use of by-product basis reporting). For periods commencing on or after January 1, 2026, the Company revised the composition of certain of its non-GAAP performance measures, including "all-in sustaining costs per ounce", to adjust for the NTI Payments, that is, payments made to NTI under the Company's mineral production leases in respect of the Amaruq mine at Meadowbank. This revised composition aligns with changes made to the calculation of "total cash costs per ounce", discussed above in "Total Cash Costs per Ounce". For the reasons outlined above in respect of the change to the composition of "total cash costs per ounce", the Company believes that this revision to the composition of AISC per ounce is helpful to both management and investors as it better reflects the cost performance at the Amaruq mine at Meadowbank and conforms the calculations of costs used across all of the Company's mines.

Management believes that AISC per ounce is useful to investors as it reflects total sustaining expenditures of producing and selling an ounce of gold while maintaining current operations and, as such, provides useful information about operating performance. Management is aware, and investors should note, that these per ounce measures of performance can be affected by fluctuations in foreign exchange rates and, in the case of AISC per ounce on a by-product basis, by-product metal prices. Management compensates for these inherent limitations by using, and investors should also consider using, these measures in conjunction with data prepared in accordance with IFRS Accounting Standards and minesite costs per tonne, as this measure is not necessarily indicative of operating costs or cash flow measures prepared in accordance with IFRS Accounting Standards.

The Company follows the guidance on calculation of AISC per ounce released by the World Gold Council ("WGC") in 2018, except in aspect of its treatment of the NTI Payment at Meadowbank. As discussed above, the Company views the NTI Payments as having similar characteristics to the Crown royalty, which is treated as income tax under IFRS Accounting Standards and therefore excluded from the Company's AISC calculations. The WGC is a non-regulatory market development organization for the gold industry that has worked closely with its member companies to develop guidance in respect of relevant non-GAAP measures. Notwithstanding the Company's adoption of the WGC's guidance, AISC per ounce reported by the Company may not be comparable to data reported by other gold mining companies.

The following table sets out a reconciliation of production costs to all-in sustaining costs per ounce for the three and six months ended June 30, 2026 and June 30, 2025 on both a by-product basis (deducting the impact of by-product metals from production costs) and a co-product basis (without deducting the impact of by-product metals from production costs).

*(United* *States dollars per ounce, except where noted)*	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Production costs per the Second Quarter Financial Statements (thousands of United States dollars)	$ 953,758	$ 789,187	$ 1,909,345	$ 1,556,920
Gold production (ounces)⁽ⁱ⁾	855,816	866,029	1,680,925	1,739,823
Production costs per ounce	$ 1,114	$ 911	$ 1,136	$ 895
Adjustments:
Inventory adjustments⁽ⁱⁱ⁾	(11)	12	(3)	11
In-kind royalty and NTI Payments⁽ⁱⁱⁱ⁾	24	39	18	36
Realized gains and losses on hedges of production costs	(4)	--	(5)	4
Smelting, refining, and marketing charges	6	9	7	8
Total cash costs per ounce (co-product basis)	$ 1,129	$ 971	$ 1,153	$ 954
Impact of by-product metals	(75)	(46)	(80)	(44)
Total cash costs per ounce (by-product basis)	$ 1,054	$ 925	$ 1,073	$ 910
Adjustments:
Sustaining capital expenditures (including capitalized exploration)	286	273	265	234
General and administrative expenses (including stock option expense)	68	67	81	68
Non-cash reclamation provision and sustaining leases^(iv)	51	16	52	15
All-in sustaining costs per ounce (by-product basis)	$ 1,459	$ 1,281	$ 1,471	$ 1,227
Impact of by-product metals	75	46	80	44
All-in sustaining costs per ounce (co-product basis)	$ 1,534	$ 1,327	$ 1,551	$ 1,271

Notes:
(i) Gold production for the three and six months ended June 30, 2026 excludes 440 and 858 ounces of payable production of gold at La India and 58 and 134 ounces of payable production of gold at Creston Mascota, respectively, which were produced from residual leaching. Gold production for the three and six months ended June 30, 2025 excludes 858 and 2,669 ounces of payable production of gold at La India and 39 and 64 ounces of payable production of gold at Creston Mascota, respectively, which were produced from residual leaching.
(ii) Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce of gold produced are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic for the three and six months ended June 30, 2026 is C$5.8 and C$9.4 million, respectively, associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold. Included in inventory adjustments for Canadian Malartic for the three and six months ended June 30, 2025 is C$1.4 and C$2.5 million, respectively, associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(iii) In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of all-in sustaining costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".
(iv) Sustaining leases are lease payments related to sustaining assets.

Adjusted net income

Adjusted net income is calculated by adjusting the net income as recorded in the Second Quarter Financial Statements for the effects of certain items that the Company believes are not reflective of the Company's underlying performance for the reporting period. Adjusted net income is calculated by adjusting net income for certain non-recurring, unusual and other items such as foreign exchange translation, realized and unrealized gains or losses on derivative financial instruments, severance, transaction costs related to acquisitions, revaluation gains and losses, environmental remediation charges, gains or losses on the disposal of assets, purchase price allocations to inventory, debt extinguishment costs, impairment loss charges and reversals, gains and losses on the sale of equity securities, retroactive payments, self insurance losses, gains and losses on the sale of non-strategic properties, multi-year donations, disposal of supplies inventory at non-operating sites, and income and mining taxes adjustments. Adjusted net income per share is calculated by dividing adjusted net income by the weighted average number of shares outstanding on a basic and diluted basis.

The Company believes that these generally accepted industry measures are useful to investors in that they allow for the evaluation of the results of continuing operations and in making comparisons between periods. Adjusted net income and adjusted net income per share are intended to provide investors with information about the Company's continuing income generating capabilities from its core mining business, excluding the above adjustments, which the Company believes are not reflective of operational performance. Management uses this measure to, and believes it is useful to investors so they can, understand and monitor for the operating performance of the Company in conjunction with other data prepared in accordance with IFRS Accounting Standards.

The following table sets out the calculation of adjusted net income and adjusted net income per share for the three and six months ended June 30, 2026, and June 30, 2025.

Reconciliation of Net Income to Adjusted Net Income

	Three Months Ended June 30,		Six Months Ended June 30,
*(thousands)*	2026	2025	2026	2025

Net income for the period - basic	$ 1,600,453	$ 1,068,711	$ 3,295,914	$ 1,883,442
Dilutive impact of cash settling LTIP	(4,539)	2,939	671	--
Net income for the period - diluted	$ 1,595,914	$ 1,071,650	$ 3,296,585	$ 1,883,442
Foreign exchange translation	20,128	(11,571)	19,395	(11,631)
Loss (gain) on derivative financial instruments	81,404	(125,264)	76,704	(194,123)
Environmental remediation	9,104	14,234	23,074	21,965
Net loss on disposal of property, plant and equipment	6,597	6,459	16,836	12,105
Purchase price allocation to inventory⁽ⁱ⁾	(5,785)	1,466	(9,426)	2,534
Debt extinguishment costs	--	5,407	--	5,407
Impairment loss⁽ⁱⁱ⁾	--	--	--	10,554
Gain on sale of investments	(155,319)	--	(155,319)	--
Multi-year donations	19,369	--	19,369	--
Other⁽ⁱⁱⁱ⁾	--	2,077	--	2,077
Income and mining taxes adjustments^(iv)	(35,289)	14,261	(40,129)	13,558
Adjusted net income for the period - basic	$ 1,540,662	$ 975,780	$ 3,246,418	$ 1,745,888
Adjusted net income for the period - diluted	$ 1,536,123	$ 978,719	$ 3,247,089	$ 1,745,888

Notes:
(i) As part of the purchase price allocation in a business combination, the Company is required to determine the fair value of net assets acquired. The fair value of inventory acquired is estimated based on the selling cost less costs to be incurred plus a profit margin on those costs resulting in a fair value adjustment to the carrying value of inventories acquired. These non-cash fair value adjustments which affected the cost of inventory sold during the period and are not representative of ongoing operations, were removed from net income in the calculation of adjusted net income
(ii) Relates to the Company's ownership percentage of an impairment loss recorded by an associate
(iii) Other adjustments relate to retroactive payments that management considers not reflective of the Company's underlying performance in the comparative period
(iv) Income and mining taxes adjustments reflect items such as foreign currency translation recorded to the income and mining taxes expense, the impact of income and mining taxes on adjusted items, recognition of previously unrecognized capital losses, the result of income and mining taxes audits, impact of tax law changes and adjustments to prior period tax filings

EBITDA and adjusted EBITDA

EBITDA is calculated by adjusting net income for finance costs, amortization of property, plant and mine development and income and mining tax expense line items as reported in the Second Quarter Financial Statements.

Adjusted EBITDA removes the effects of certain items that the Company believes are not reflective of the Company's underlying performance for the reporting period. Adjusted EBITDA is calculated by adjusting the EBITDA calculation for certain non-recurring, unusual and other items such as foreign exchange translation, realized and unrealized gains or losses on derivative financial instruments, severance, non-recurring, unusual and other transaction costs related to acquisitions, revaluation gains and losses, environmental remediation, gains or losses on the disposal of assets, purchase price allocations to inventory, debt extinguishment costs, impairment loss charges and reversals, gains and losses on the sale of equity securities, retroactive payments, self insurance losses, gains and losses on the sale of non-strategic properties, multi-year donations, and disposal of supplies inventory at non-operating sites.

The Company believes that these generally accepted industry measures are useful in that they allow for the evaluation of the cash-generating capability of the Company to fund its working capital, capital expenditure and debt repayments. EBITDA and Adjusted EBITDA are intended to provide investors with information about the Company's continuing cash-generating capability from its core mining business, excluding the above adjustments, which management believes are not reflective of operational performance. Management uses these measures to, and believes it is useful to investors so they can, understand and monitor the cash-generating capability of the Company in conjunction with other data prepared in accordance with IFRS Accounting Standards.

The following table sets out the calculation of EBITDA and Adjusted EBITDA for the three and six months ended June 30, 2026 and June 30, 2025.

	Three Months Ended June 30,		Six Months Ended June 30,
*(thousands)*	2026	2025	2026	2025

Net income for the period	$ 1,600,453	$ 1,068,711	$ 3,295,914	$ 1,883,442
Finance costs	16,039	27,429	31,795	49,873
Amortization of property, plant and mine development	423,256	376,956	843,522	793,756
Income and mining tax expense	722,402	547,908	1,586,565	927,748
EBITDA	2,762,150	2,021,004	5,757,796	3,654,819
Foreign exchange translation	20,128	(11,571)	19,395	(11,631)
Loss (gain) on derivative financial instruments	81,404	(125,264)	76,704	(194,123)
Environmental remediation	9,104	14,234	23,074	21,965
Net loss on disposal of property, plant and equipment	6,597	6,459	16,836	12,105
Purchase price allocation to inventory⁽ⁱ⁾	(5,785)	1,466	(9,426)	2,534
Debt extinguishment costs	--	5,407	--	5,407
Impairment loss⁽ⁱⁱ⁾	--	--	--	10,554
Gain on sale of investments	(155,319)	--	(155,319)	--
Multi-year donations	19,369	--	19,369	--
Other⁽ⁱⁱⁱ⁾	--	2,077	--	2,077
Adjusted EBITDA	$ 2,737,648	$ 1,913,812	$ 5,748,429	$ 3,503,707

Notes:
(i) As part of the purchase price allocation in a business combination, the Company is required to determine the fair value of net assets acquired. The fair value of inventory acquired is estimated based on the selling cost less costs to be incurred plus a profit margin on those costs resulting in a fair value adjustment to the carrying value of inventories acquired. These non-cash fair value adjustments which affected the cost of inventory sold during the period and are not representative of ongoing operations, were removed from net income in the calculation of adjusted net income
(ii) Relates to the Company's ownership percentage of an impairment loss recorded by an associate
(iii) Other adjustments relate to retroactive payments that management considers not reflective of the Company's underlying performance in the comparative period

Cash provided by operating activities before changes in non-cash components of working capital and its per share ratio

Cash provided by operating activities before changes in non-cash components of working capital is calculated by adjusting the cash provided by operating activities as shown in the Second Quarter Financial Statements for the effects of changes in non-cash components of working capital such as income taxes, inventories, other current assets, accounts payable and accrued liabilities and interest payable. The per share ratio is calculated by dividing cash provided by operating activities before changes in non-cash components of working capital by the weighted average number of shares outstanding on a basic basis. The Company believes that changes in working capital can be volatile due to numerous factors, including the timing of payments. Management uses these measures to, and believes they are useful to investors so they can, assess the underlying operating cash flow performance and future operating cash flow generating capabilities of the Company in conjunction with other data prepared in accordance with IFRS Accounting Standards. A reconciliation of these measures to the nearest IFRS Accounting Standards measure is provided below.

Free cash flow and free cash flow before changes in non-cash components of working capital

Free cash flow is calculated by deducting additions to property, plant and mine development from the cash provided by operating activities line item as recorded in the Second Quarter Financial Statements.

Free cash flow before changes in non-cash components of working capital is calculated by excluding items such as the effect of changes in non-cash components of working capital from free cash flow, which includes income taxes, inventory, other current assets and accounts payable and accrued liabilities.

The Company believes that these generally accepted industry measures are useful in that they allow for the evaluation of the Company's ability to repay creditors and return cash to shareholders without relying on external sources of funding. Free cash flow and free cash flow before changes in non-cash components of working capital also provide investors with information about the Company's financial position and its ability to generate cash to fund operational and capital requirements as well as return cash to shareholders. Management uses these measures in conjunction with other data prepared in accordance with IFRS Accounting Standards to, and believes it is useful to investors so they can, understand and monitor the cash-generating ability of the Company.

The following table sets out the calculation of free cash flow and free cash flow before changes in non-cash components of working capital for the three and six months ended June 30, 2026 and June 30, 2025.

	Three Months Ended June 30,		Six Months Ended June 30,
*(thousands, except where noted)*	2026	2025	2026	2025

Cash provided by operating activities	$ 2,144,120	$ 1,845,488	$ 3,489,988	$ 2,889,734
Additions to property, plant and mine development	(809,255)	(540,476)	(1,423,004)	(990,600)
Free cash flow	1,334,865	1,305,012	2,066,984	1,899,134
Changes in income taxes	13,390	(478,106)	1,002,470	(301,367)
Changes in inventory	42,494	53,061	5,694	22,144
Changes in other current assets	18,741	38,152	29,755	6,762
Changes in accounts payable and accrued liabilities	(106,541)	(126,509)	(184,341)	(75,797)
Free cash flow before changes in non-cash components of working capital	$ 1,302,949	$ 791,610	$ 2,920,562	$ 1,550,876
Additions to property, plant and mine development	809,255	540,476	1,423,004	990,600
Cash provided by operating activities before changes in non-cash components of working capital	$ 2,112,204	$ 1,332,086	$ 4,343,566	$ 2,541,476

Cash provided by operating activities per share - basic	$ 4.27	$ 3.67	$ 6.97	$ 5.75
Cash provided by operating activities before changes in non-cash components of working capital per share - basic	$ 4.21	$ 2.65	$ 8.67	$ 5.06

Free cash flow per share - basic	$ 2.66	$ 2.60	$ 4.13	$ 3.78
Free cash flow before changes in non-cash components of working capital per share - basic	$ 2.60	$ 1.58	$ 5.83	$ 3.09

Operating margin

Operating margin is calculated by deducting production costs from revenue from mining operations. In order to reconcile operating margin to net income as recorded in the Second Quarter Financial Statements, the Company adds the following items to the operating margin: amortization of property, plant and mine development; exploration and corporate development expenses; general and administrative expenses; finance costs; gain (loss) on derivative financial instruments; foreign currency translation (gain) loss; care and maintenance expenses; other income and expenses; income and mining taxes expense; revaluation gain and impairment losses (reversals). The Company believes that operating margin is a helpful measure to investors as it reflects the operating performance of its individual mines associated with the ongoing production and sale of gold and by-product metals without allocating Company-wide overhead, such as amortization of property, plant and mine development, exploration and corporate development expenses, general and administrative expenses, finance costs, gains and losses on derivative financial instruments, foreign currency translation gains and losses, care and maintenance expenses, other income and expenses and income and mining taxes expense. Management uses this measure internally to plan and forecast future operating results. Management believes this measure is helpful to investors as it provides them with additional information about the Company's underlying operating results, though it should be evaluated in conjunction with other data prepared in accordance with IFRS Accounting Standards.

The following table sets out the calculation of operating margin for the three and six months ended June 30, 2026 and June 30, 2025.

	Three Months Ended June 30,		Six Months Ended June 30,
*(thousands)*	2026	2025	2026	2025

Net income for the period	$ 1,600,453	$ 1,068,711	$ 3,295,914	$ 1,883,442
Amortization of property, plant and mine development	423,256	376,956	843,522	793,756
Exploration and corporate development	61,531	52,100	114,087	93,905
General and administrative	57,948	57,890	135,798	118,599
Finance costs	16,039	27,429	31,795	49,873
Loss (gain) on derivative financial instruments	81,404	(125,264)	76,704	(194,123)
Environmental remediation	9,104	14,234	23,074	21,965
Foreign exchange translation	20,128	(11,571)	19,395	(11,631)
Care and maintenance	15,275	15,682	37,871	29,583
Gain on sale of investments	(155,319)	--	(155,319)	--
Other income and expenses	(3,161)	2,839	(16,344)	14,312
Income and mining taxes expense	722,402	547,908	1,586,565	927,748
Operating margin	$ 2,849,060	$ 2,026,914	$ 5,993,062	$ 3,727,429

Capital expenditures

Capital expenditures are calculated by deducting working capital adjustments from additions to property, plant and mine development per the Second Quarter Financial Statements.

Capital expenditures are classified into sustaining capital expenditures, sustaining capitalized exploration, development capital expenditures and development capitalized exploration. Sustaining capital expenditures and sustaining capitalized exploration are expenditures incurred during the production phase to sustain and maintain existing assets so they can achieve constant expected levels of production from which the Company will derive economic benefits. Sustaining capital expenditures and sustaining capitalized exploration include expenditure for assets to retain their existing productive capacity as well as to enhance performance and reliability of the operations. Development capital expenditures and development capitalized exploration represent the spending at new projects and/or expenditures at existing operations that are undertaken with the intention to increase production levels or mine life above the current plans. Management uses these measures in the capital allocation process and to assess the effectiveness of its investments. Management believes these measures are useful so investors can assess the purpose and effectiveness of the capital expenditures split between sustaining and development in each reporting period. The classification between sustaining and development capital expenditures does not have a standardized definition in accordance with IFRS Accounting Standards and other companies may classify expenditures in a different manner.

The following table sets out a reconciliation of sustaining capital expenditures, sustaining capitalized exploration, development capital expenditures and development capitalized exploration to the additions to property, plant and mine development per the Second Quarter Financial Statements for the three and six months ended June 30, 2026 and June 30, 2025.

*(thousands)*	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2024
Sustaining capital expenditures	$ 236,950	$ 233,600	$ 433,542	$ 401,676
Sustaining capitalized exploration	8,843	5,514	14,230	9,962
Development capital expenditures	462,274	226,646	754,564	412,870
Development capitalized exploration	92,853	72,175	172,194	132,679
Total Capital Expenditures	$ 800,920	$ 537,935	$ 1,374,530	$ 957,187
Working capital adjustments	8,335	2,541	48,474	33,413
Additions to property, plant and mine development per the Second Quarter Financial Statements	$ 809,255	$ 540,476	$ 1,423,004	$ 990,600

Net cash

Net cash is calculated by adjusting the total of the current portion of long-term debt and non-current portion of long-term debt as recorded on the Second Quarter Financial Statements for deferred financing costs and cash and cash equivalents. Management believes the measure of net cash is useful to help investors assess the Company's overall cash position and to evaluate the future debt capacity of the Company.

The following table sets out a reconciliation of long-term debt per the Second Quarter Financial Statements to net cash as at June 30, 2026, and December 31, 2025.

	As at	As at
*(thousands)*	June 30, 2026	Dec 31, 2025
Long-term debt	$ (196,825)	$ (196,271)
Cash and cash equivalents	3,463,957	2,866,053
Net cash	$ 3,267,132	$ 2,669,782

Forward-Looking Non-GAAP Measures

This news release contains information regarding estimated future total cash costs per ounce, minesite costs per tonne and AISC per ounce. The estimates are based upon the total cash costs per ounce, minesite costs per tonne and AISC per ounce that the Company expects to incur to mine gold at its mining operations and do not include certain costs that will vary over time as each project is developed and mined. It is therefore not practicable to reconcile these forward-looking non-GAAP financial measures to the most comparable IFRS Accounting Standards measure.

Forward-Looking Statements

The information in this news release has been prepared as at July 29, 2026. Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could, or may or will occur are forward-looking statements. When used in this news release, the words "achieve", "aim", "anticipate", "commit", "could", "envisions", "estimate", "expect", "forecast", "future", "guide", "objective", "plan", "potential", "schedule", "target", "track", "will", and similar expressions are intended to identify forward-looking statements. Such statements include the Company's forward-looking guidance, including metal production, estimated ore grades, recovery rates, project timelines, drilling targets or results, life of mine estimates, total cash costs per ounce, AISC per ounce, other expenses and cash flows; the potential for additional gold production at the Company's sites, including the potential to increase annual gold production by 20% to 30% over the next decade, exceeding four million ounces by the 2030s; the estimated timing and conclusions of the Company's studies and evaluations; the methods by which ore will be extracted or processed; the Company's plans at Detour Lake underground, Upper Beaver, Odyssey, Hope Bay and San Nicolás, including the approval, timing, funding, completion and commissioning thereof and the commencement of production therefrom; statements concerning the Company's "fill-the-mill" strategy at Canadian Malartic; statements regarding the rock mass movement at the Barnat open pit's effect on production; statements regarding the remediation plan and redesign at the Barnat open pit; statements regarding the effect of the rock mass movement on the development or production outlook at the Odyssey mine or change to the Company's pathway to increase annual production at Canadian Malartic; the Company's plans to reduce dilution associated with the acquisition of Rupert; statements concerning other expansion projects, recovery rates, mill throughput, optimization efforts and projected exploration, including costs and other estimates upon which such projections are based; timing and amounts of capital expenditures, other expenditures and other cash needs, and expectations as to the funding thereof; estimates of future mineral reserves, mineral resources, mineral production and sales; the projected development of certain ore deposits, including estimates of exploration, development, production, closure and other capital expenditures and estimates of the timing of such exploration, development, production and closure or decisions with respect to such exploration, development, production and closure; estimates of mineral reserves and mineral resources and the effect of drill results and studies on future mineral reserves and mineral resources; the Company's ability to obtain the necessary permits and authorizations in connection with its proposed or current exploration, development and mining operations, and the anticipated timing or submission or receipt thereof; future exploration; the anticipated timing of events with respect to the Company's mine sites; the Company's plans and strategies with respect to sustainability initiatives; the sufficiency of the Company's cash resources; the Company's plans with respect to hedging and the effectiveness of its hedging strategies and the economic impact thereof; future activity with respect to the Company's unsecured revolving bank credit facility and other indebtedness; future dividend amounts, record dates and payment dates; statements regarding potential payments under the CVRs; the effect of tariffs, trade restrictions and the effect of geopolitical events on the Company, whether through availability of inputs or inflation; plans with respect to activity under the NCIB and the renewal thereof, including the anticipated increase in the purchase limit; and anticipated trends with respect to the Company's operations, exploration and the funding thereof. Such statements reflect the Company's views as at the date of this news release and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material factors and assumptions used in the preparation of the forward-looking statements contained herein, which may prove to be incorrect, include, but are not limited to, the assumptions set forth herein and in management's discussion and analysis for the year ended December 31, 2025 (the "2025 MD&A") and the Company's Annual Information Form (the "AIF") for the year ended December 31, 2025 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the year ended December 31, 2025 (the "Form 40-F") filed with the U.S. Securities and Exchange Commission (the "SEC") as well as: that there are no significant disruptions affecting operations; that production, permitting, development, expansion and the ramp-up of operations at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the Company's plans for its mining operations are not changed or amended in a material way; that the relevant metal prices, foreign exchange rates and prices for key mining and construction inputs (including labour and electricity) will be consistent with Agnico Eagle's expectations; that the effect of tariffs or trade disputes will not materially affect the price or availability of the inputs the Company uses at its operations; that Agnico Eagle's current estimates of mineral reserves, mineral resources, mineral grades and metal recovery are accurate; that there are no material delays in the timing for completion of ongoing growth projects; that seismic activity at the Company's operations at LaRonde, Goldex, Fosterville and other properties is as expected by the Company and that the Company's efforts to mitigate its effect on mining operations, including with respect to community relations, are successful; that the Company's current plans to address climate change and reduce greenhouse gas emissions are successful; that the Company's current plans to optimize production are successful; that there are no material variations in the current tax and regulatory environment; that governments, the Company or others do not take measures in response to pandemics or other health emergencies or otherwise that, individually or in the aggregate, materially affect the Company's ability to operate its business or its productivity; and that measures taken relating to, or other effects of, pandemics or other health emergencies do not affect the Company's ability to obtain necessary supplies and deliver them to its mine sites. Many factors, known and unknown, could cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, project development, capital expenditures and other costs; foreign exchange rate fluctuations; inflationary pressures; financing of additional capital requirements; cost of exploration and development programs; seismic activity at the Company's operations, including at LaRonde, Goldex and Fosterville; mining risks; community protests, including by Indigenous groups; risks associated with foreign operations; risks associated with joint ventures; governmental and environmental regulation; the volatility of the Company's stock price; risks associated with the Company's currency, fuel and by-product metal derivative strategies; the current interest rate environment; the potential for major economies to encounter a slowdown in economic activity or a recession; the potential for increased conflict or hostilities in various regions, including Europe, South America and the Middle East; and the extent and manner of communicable diseases or outbreaks, and measures taken by governments, the Company or others to attempt to mitigate the spread thereof may directly or indirectly affect the Company. For a more detailed discussion of such risks and other factors that may affect the Company's ability to achieve the expectations set forth in the forward-looking statements contained in this news release, see the AIF and 2025 MD&A filed on SEDAR+ at www.sedarplus.ca and included in the Form 40-F filed on EDGAR at www.sec.gov, as well as the Company's other filings with the Canadian securities regulators and the SEC. Other than as required by law, the Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Notes to Investors Regarding Certain Project Evaluations

The forecast parameters surrounding certain projects, including Detour Lake underground, Upper Beaver, Hope Bay and the "fill-the-mill" strategy at Canadian Malartic (Odyssey Shaft #1, Odyssey Shaft #2, Marban, Wasamac), were based on internal evaluations, which are preliminary in nature and include inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the forecast production amounts, set out in the table below, will be realized.

Key Project	2026 Gold Production Guidance (000s oz)	Anticipated Production Ramp-up Year	Anticipated Incremental Annual Gold Production (000s oz)	Anticipated Incremental Annual Copper Production (tonnes)
Canadian Malartic	505 -- 535	2033	400 -- 500	--
Detour Lake	700 -- 730	2030	300 -- 350	--
Upper Beaver	--	2030	200 -- 225	3,600
Hope Bay	--	2030	400 -- 425	--
San Nicolás (50%)*	--	2030	--	50,000 -- 60,000

*San Nicolás incremental annual production also includes approximately 150,000 to 160,000 tonnes of zinc in first eight years of production and 20,000 to 30,000 tonnes of zinc in subsequent years

The basis for the internal evaluations and the qualifications and assumptions made by the qualified persons who undertook the internal evaluations are set out in this news release and the news releases dated June 29, 2024 for Detour Lake underground, dated July 31, 2024 for Upper Beaver and dated May 19, 2026 for Hope Bay. The results of the internal evaluations had no impact on the results of any pre-feasibility or feasibility study. An updated internal evaluation is expected for the "fill-the-mill" strategy at Canadian Malartic, for Detour Lake and Upper Beaver in 2027.

Scientific and Technical Information

The scientific and technical information contained in this news release relating to Nunavut, Quebec and Finland operations has been approved by Dominique Girard, Eng., Executive Vice-President & Chief Operating Officer – Nunavut, Quebec & Europe; relating to Ontario, Australia and Mexico operations has been approved by Natasha Vaz, P.Eng., Executive Vice-President & Chief Operating Officer – Ontario, Australia & Mexico; and relating to exploration has been approved by Guy Gosselin, Eng. and P.Geo., Executive Vice-President, Exploration, each of whom is a "Qualified Person" for the purposes of the Canadian Securities Administrators' National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

Additional Information

Additional information about each of the Company's material mineral projects as at December 31, 2025, including information regarding data verification, key assumptions, parameters and methods used to estimate mineral reserves and mineral resources and the risks that could materially affect the development of the mineral reserves and mineral resources required by sections 3.2 and 3.3 and paragraphs 3.4(a), (c) and (d) of NI 43-101 can be found in the Company's AIF and 2025 MD&A filed on SEDAR+ and with the SEC on EDGAR and in the following technical reports filed on SEDAR+ in respect of the Company's material mineral properties: Detour Lake Operation, Ontario, Canada, NI 43-101 Technical Report (September 20, 2024); NI 43-101 Technical Report of the LaRonde complex in Quebec, Canada (March 24, 2023); NI 43-101 Technical Report Canadian Malartic Mine, Quebec, Canada (March 25, 2021); Technical Report on the Mineral Resources and Mineral Reserves at Meadowbank Gold complex including the Amaruq Satellite Mine Development, Nunavut, Canada as at December 31, 2017 (February 14, 2018); and the Updated Technical Report on the Meliadine Gold Project, Nunavut, Canada (February 11, 2015).

APPENDIX A – EXPLORATION DETAILS

East Gouldie and Odyssey deposits at Odyssey mine

Drill hole	Deposit / zone	From (metres)	To (metres)	Depth of midpoint below surface (metres)	Estimated true width (metres)	Gold grade (g/t) (uncapped)	Gold grade (g/t) (capped)*
MEX25-354	East Gouldie	1,911.1	1,927.5	1,917	16.4**	1.9	1.9
and	East Gouldie	1,944.0	1,963.2	1,951	19.2**	4.7	3.8
including		1,945.5	1,949.4	1,945	3.8**	15.8	11.2
and	East Gouldie	1,972.6	1,988.4	1,978	15.8**	2.6	2.6
UGEG-071-034	East Gouldie	508.0	519.6	1,046	10.8	6.6	6.6
and	East Gouldie	562.0	581.0	1,088	17.2	1.9	1.9
and	East Gouldie	630.5	642.5	1,133	11.6	6.1	6.1
including		632.2	634.9	1,130	2.7	12.6	12.6
UGEG-071-035	East Gouldie	480.6	493.5	984	12.5	4.6	4.6
and	East Gouldie	637.6	644.7	1,078	6.9	11.1	9.2
including		640.8	642.3	1,078	1.4	29.3	20.0
UGEG-071-043	East Gouldie	469.2	476.5	945	7.0	12.8	9.2
including		473.0	475.0	946	1.9	33.2	20.0
UGEG-075-062	East Gouldie	554.0	568.5	916	14.3	5.1	5.1
UGEG-075-063	East Gouldie	552.0	565.0	925	12.8	5.4	5.4
including		554.7	559.0	924	4.3	12.0	12.0
UGOD-057-013	Ody N / Artemis	573.5	580.5	1,039	7.0**	10.7	10.7
and	Ody N / Artemis	592.5	606.0	1,057	13.5**	4.5	4.5
including		601.5	604.5	1,060	3.0**	10.5	10.5
and	Ody N / Artemis	617.5	632.0	1,078	14.6**	21.9	13.7
including		618.5	624.5	1,075	6.0**	37.3	20.0
and	Ody N / Artemis	638.0	649.0	1,093	11.0**	3.5	3.5
UGOD-057-017	Ody N / Artemis	547.5	554.2	1,003	6.7**	7.4	7.4

*Results from the East Gouldie and Odyssey deposits use a capping factor of 20 g/t gold.

**Core length. True width undetermined.

West Pit and West Extension zones at Detour Lake

Drill hole	Zone	From (metres)	To (metres)	Depth of midpoint below surface (metres)	Estimated true width (metres)	Gold grade (g/t) (uncapped)*
DLM26-1290	West Extension	977.6	983.0	836	4.8	20.8
DLM26-1291W	West Extension	1,141.9	1,160.0	1,011	15.9	2.0
including		1,146.1	1,150.5	1,009	3.9	4.4
DLM26-1297AW	West Extension	629.0	632.0	564	2.5	13.5
and	West Extension	680.0	688.0	610	6.7	4.2
and	West Extension	1,042.0	1,054.0	902	10.8	4.6
including		1,042.0	1,045.0	899	2.7	14.7
DLM26-1324	West Pit	260.0	278.0	229	15.3	4.5
including		271.0	276.8	233	4.9	10.0
and	West Pit	313.0	318.0	268	4.3	8.3
DLM26-1331A	West Extension	825.0	829.4	704	4.0	12.1
and	West Extension	1,196.0	1,200.0	973	3.8	6.4
DLM26-1332	West Pit	234.0	286.0	223	43.9	2.6
including		245.0	248.8	212	3.2	6.8
and including		272.0	277.0	235	4.2	15.9
DLM26-1334A	West Pit	280.0	354.5	275	62.3	2.5
including		301.0	308.1	264	5.9	15.2
DLM26-1335W	West Pit	295.1	362.1	282	57.0	2.0
including		304.4	311.0	265	5.6	13.1
DLM26-1336B	West Pit	307.0	328.7	271	18.7	3.3
including		316.0	319.4	271	2.9	12.6
and	West Pit	352.9	356.0	301	2.7	7.8
and	West Pit	375.0	378.5	320	3.0	20.6
DLM26-1337	West Pit	394.1	410.8	340	14.4	1.9
and	West Pit	443.3	461.0	380	15.4	5.5
DLM26-1345AW	West Pit	264.5	274.8	216	9.3	5.8
including		264.5	267.5	194	2.7	16.9

*Results from Detour Lake are uncapped.

Upper Beaver deposit

Drill hole	Zone	From (metres)	To (metres)	Depth of mid-point below surface (metres)	Estimated true width (metres)	Gold grade (g/t) (uncapped)	Gold grade (g/t) (capped)	Copper grade (%) (uncapped)	Copper grade (%) (capped)*
KLUB26-915W1	Zone 107	593.2	596.8	517	2.6	4.9	4.9	0.76	0.76
and	Zone 107	600.3	605.0	523	3.4	2.6	2.6	0.64	0.64
KLUB26-915W7	Zone 107	621.7	629.1	558	6.8	8.4	8.4	0.10	0.10
including	Zone 107	627.5	629.1	561	1.5	17.4	17.4	0.31	0.31
KLUB26-915W8	Zone 107	657.5	662.5	599	4.6	2.6	2.6	0.25	0.25
KLUB26-917	Zone 107	703.0	705.8	646	2.7	12.4	12.4	0.01	0.01
including	Zone 107	703.0	703.7	645	0.7	47.3	47.3	0.01	0.01
KLUB26-917W1	Zone 107	713.0	719.5	661	5.8	7.7	7.7	0.01	0.01
including	Zone 107	719.0	719.5	663	0.5	56.5	56.5	0.01	0.01
KLUB26-917W5	Zone 107	727.0	731.5	682	4.5	8.3	8.3	0.26	0.26
and	Zone 107	736.3	742.0	691	5.6	12.0	12.0	0.55	0.55
including	Zone 107	738.8	740.4	692	1.6	28.8	28.8	1.01	1.01

*At Upper Beaver, results use a capping factor of 135 g/t gold and 4.0% copper for Zone 107.

Madrid deposit at Hope Bay

Drill hole	Zone	From (metres)	To (metres)	Depth of midpoint below surface (metres)	Estimated true width (metres)	Gold grade (g/t) (uncapped)	Gold grade (g/t) (capped)*
HBM26-464	Suluk	155.0	167.0	129	8.9	6.7	6.7
HBM26-466	Patch 7	708.0	726.9	609	15.4	13.7	13.7
HBM26-469	Patch 7	1,172.0	1,176.0	852	3.8	31.6	31.6
including		1,175.0	1,176.0	853	0.9	94.4	94.4
HBM26-470	Patch 7	707.0	710.0	605	2.1	30.6	30.6
HBM26-478A	Patch 7	977.0	998.4	710	15.6	28.8	15.2
including		979.0	980.0	706	0.7	142.5	100.0
including		987.0	988.0	710	0.7	348.0	100.0
including		996.4	997.4	714	0.7	94.1	94.1
HBM26-481	Patch 7	362.0	375.0	328	11.3	18.5	18.5

*Results from the Madrid deposit at Hope Bay use a capping factor of 100 g/t gold.

Tiriganiaq and Wesmeg North deposits at Meliadine

Drill hole	Deposit	Lode / zone	From (metres)	To (metres)	Depth of midpoint below surface (metres)	Estimated true width (metres)	Gold grade (g/t) (uncapped)	Gold grade (g/t) (capped)*
ML425-8846-D15	Tiriganiaq	1374	171.6	178.5	694	6.6	10.9	10.9
ML425-10071-D9	Tiriganiaq	1370	251.1	256.0	663	4.9	9.0	9.0
ML425-9408-D1C	Wesmeg N	987	401.7	405.0	855	3.0	10.1	10.1
ML425-9408-D20	Wesmeg N	930	401.0	408.7	744	7.7	22.2	11.3

*Results from Meliadine use a capping factor ranging from 20 g/t to 100 g/t gold depending on the zone.

Fosterville

Drill hole	Zone	From (metres)	To (metres)	Depth of midpoint below surface (metres)	Estimated true width (metres)	Gold grade (g/t) (uncapped)*
UDH5161	Cardinal	381.0	391.8	1,785	10.2	9.6
UDH5162A	Cardinal	380.1	385.3	1,789	4.5	16.8
UDH5178	Swan	444.3	467.9	1,845	21.4	5.1
UDH5188	SW Linker 1	272.3	278.7	810	6.0	9.9
UDH5214	Curie	182.2	189.6	477	4.8	9.1

*Results from the Fosterville mine are uncapped.

Main zone at Kittila

Drill hole

Zone / Area

From

(metres)

metres)

Depth of
midpoint below
surface (metres)

Estimated
true width
(metres)

Gold grade

(g/t) (uncapped)

SEU25-602

Main / Seuru

70.0

78.0

961

6.7

5.9

SEU25-700L

Main / Seuru

572.0

584.6

1,401

6.2

5.4

* Results from Kittila are uncapped.

Exploration Drill Collar Coordinates

Drill hole	UTM East*	UTM North*	Elevation (metres above sea level)	Azimuth (degrees)	Dip (degrees)	Length (metres)
Odyssey mine
MEX25-354	717791	5334354	310	105	-89	2,151
UGEG-071-034	717759	5333976	-346	172	-55	720
UGEG-071-035	717759	5333976	-346	176	-47	700
UGEG-071-043	717760	5333976	-346	170	-42	672
UGEG-075-062	717713	5334082	-340	173	-33	756
UGEG-075-063	717713	5334081	-340	176	-33	655
UGOD-057-013	718007	5334110	-261	18	-55	767
UGOD-057-017	718008	5334110	-261	15	-54	729
Detour Lake
DLM26-1290	584833	5542350	296	185	-60	1,152
DLM26-1291W	586232	5542299	297	183	-68	1,239
DLM26-1297AW	586435	5542230	296	181	-67	1,257
DLM26-1324	587028	5541651	292	178	-59	375
DLM26-1331A	586515	5542354	298	189	-64	1,302
DLM26-1334A	587127	5541642	292	177	-63	426
DLM26-1335W	587046	5541680	294	178	-62	450
DLM26-1336B	587229	5541630	292	179	-60	450
DLM26-1337	587064	5541723	297	176	-61	576
DLM26-1345AW	587086	5541659	293	178	-55	350
Upper Beaver
KLUB26-915W1	591844	5336055	302	150	-69	656
KLUB26-915W7	591844	5336055	302	150	-69	680
KLUB26915W8	591844	5336055	302	150	-69	695
KLUB26-917	591783	5336010	304	130	-75	743
KLUB26-917W1	591783	5336010	304	130	-75	749
KLUB26-917W5	591783	5336010	304	130	-75	768
Hope Bay
HBM26-464	434720	7549517	26	104	-51	413
HBM26-466	434650	7548666	26	70	-70	831
HBM26-469	434279	7548409	38	57	-57	1,246
HBM26-470	434630	7548587	26	69	-69	859
HBM26-478A	434334	7548811	51	77	-63	1,125
HBM26-481	435107	7548039	38	68	-71	635
Meliadine
ML425-8846-D15	538846	6988969	-493	163	-57	334
ML425-10071-D9	540071	6989004	-432	176	-47	422
ML425-9408-D1C	539408	6988922	-425	202	-73	742
ML425-9408-D20	539408	6988922	-424	169	-50	621
Fosterville
UDH5161	1486	4973	3695	82	-58	404
UDH5162A	1485	4973	3695	92	-61	407
UDH5178	1487	4945	3690	33	-56	484
UDH5188	2978	12054	4556	104	-54	341
UDH5214	3297	11802	4650	38	8	209
Kittila
SEU25-602	2558636	7539798	-738	64	-2	211
SEU25-700L	2558633	7539697	-726	90	-66	642

*Coordinate Systems: NAD 83 UTM Zone 17N for Odyssey; NAD 1983 UTM Zone 17N for Detour Lake and Upper Beaver; NAD 1983 UTM Zone 13N for Hope Bay; NAD 1983 UTM Zone 14N for Meliadine; NAD 1983 UTM Zone 13N for Hope Bay; Mine grid including elevation for Fosterville; and Finnish Coordinate System KKJ Zone 2 for Kittila.

APPENDIX B – FINANCIAL INFORMATION


AGNICO EAGLE MINES LIMITED
SUMMARY OF OPERATIONS KEY PERFORMANCE INDICATORS
(thousands of United States dollars, except where noted)


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025

Net income - key line items:
Revenue from mine operations:
LaRonde	373,589	311,077	775,516	590,160
Canadian Malartic	597,767	497,217	1,352,620	919,264
Goldex	138,937	115,280	305,473	211,249
Quebec	1,110,293	923,574	2,433,609	1,720,673
Detour Lake	872,436	545,174	1,816,666	989,060
Macassa	294,473	260,231	600,917	495,893
Ontario	1,166,909	805,405	2,417,583	1,484,953
Meliadine	517,888	354,517	894,482	612,806
Meadowbank	427,534	334,715	1,021,960	739,800
Nunavut	945,422	689,232	1,916,442	1,352,606
Fosterville	207,651	153,845	388,327	263,674
Australia	207,651	153,845	388,327	263,674
Kittila	263,792	167,942	515,690	329,030
Finland	263,792	167,942	515,690	329,030
Pinos Altos	108,760	76,103	231,032	133,413
Mexico	108,760	76,103	231,032	133,413
Corporate and Other	(9)	--	(276)	--
Revenues from mining operations	$ 3,802,818	$ 2,816,101	$ 7,902,407	$ 5,284,349
Production costs	953,758	789,187	1,909,345	1,556,920
Amortization of property, plant and mine development	423,256	376,956	843,522	793,756
Gross profit	2,425,804	1,649,958	5,149,540	2,933,673
Exploration, corporate and other	102,949	33,339	267,061	122,483
Income before income and mining taxes	2,322,855	1,616,619	4,882,479	2,811,190
Income and mining taxes expense	722,402	547,908	1,586,565	927,748
Net income for the period	$ 1,600,453	$ 1,068,711	$ 3,295,914	$ 1,883,442
Net income per share -- basic	$ 3.19	$ 2.13	$ 6.58	$ 3.75
Net income per share -- diluted	$ 3.17	$ 2.12	$ 6.56	$ 3.74

Cash flows:
Cash provided by operating activities	$ 2,144,120	$ 1,845,488	$ 3,489,988	$ 2,889,734
Cash used in investing activities	$ (1,189,583)	$ (610,936)	$ (1,954,442)	$ (1,260,876)
Cash used in financing activities	$ (600,715)	$ (819,155)	$ (935,367)	$ (1,002,121)

Realized prices:
Gold (per ounce)	$ 4,483	$ 3,288	$ 4,672	$ 3,090
Silver (per ounce)	$ 64.98	$ 35.72	$ 74.82	$ 34.45

AGNICO EAGLE MINES LIMITED
SUMMARY OF OPERATIONS KEY PERFORMANCE INDICATORS
(thousands of United States dollars, except where noted)


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025

Payable production ⁽ⁱ⁾ :
Gold (ounces):
LaRonde	81,261	91,252	162,857	182,743
Canadian Malartic	135,243	172,531	301,459	332,304
Goldex	29,277	33,118	58,649	63,134
Quebec	245,781	296,901	522,965	578,181
Detour Lake	207,279	168,272	384,298	321,110
Macassa	80,143	87,364	135,736	173,392
Ontario	287,422	255,636	520,034	494,502
Meliadine	97,516	90,263	191,347	188,775
Meadowbank	100,165	101,935	214,027	242,061
Nunavut	197,681	192,198	405,374	430,836
Fosterville	42,012	49,574	83,455	93,189
Australia	42,012	49,574	83,455	93,189
Kittila	61,969	50,357	110,496	104,461
Finland	61,969	50,357	110,496	104,461
Pinos Altos	20,951	21,363	38,601	38,654
Mexico	20,951	21,363	38,601	38,654
Total gold (ounces):	855,816	866,029	1,680,925	1,739,823

Silver (thousands of ounces)	653	602	1,252	1,213
Zinc (tonnes)	1,101	2,384	2,120	4,126
Copper (tonnes)	1,581	1,161	3,060	2,545

AGNICO EAGLE MINES LIMITED
SUMMARY OF OPERATIONS KEY PERFORMANCE INDICATORS
(thousands of United States dollars, except where noted)


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025

Payable metal sold ⁽ⁱⁱ⁾ :
Gold (ounces):
LaRonde	81,092	88,908	159,539	179,417
Canadian Malartic	130,634	150,830	285,931	295,493
Goldex	29,087	33,167	60,843	63,860
Quebec	240,813	272,905	506,313	538,770
Detour Lake	195,070	166,034	386,419	321,514
Macassa	65,482	79,145	127,516	160,145
Ontario	260,552	245,179	513,935	481,659
Meliadine	114,094	108,188	191,344	197,458
Meadowbank	95,700	102,224	217,461	242,574
Nunavut	209,794	210,412	408,805	440,032
Fosterville	46,000	46,500	84,000	84,500
Australia	46,000	46,500	84,000	84,500
Kittila	58,300	51,000	110,900	107,000
Finland	58,300	51,000	110,900	107,000
Pinos Altos	20,429	20,839	41,586	37,839
Mexico	20,429	20,839	41,586	37,839
Total gold (ounces):	835,505	846,835	1,665,156	1,689,800

Silver (thousands of ounces)	570	574	1,187	1,101
Zinc (tonnes)	1,153	2,391	2,337	4,203
Copper (tonnes)	1,589	1,162	3,098	2,560

Notes:
(i) Payable production (a non-GAAP non-financial performance measure) is the quantity of mineral produced during a period contained in products that are or will be sold by the Company, whether such products are sold during the period or held as inventories at the end of the period. For the three months ended June 30, 2026 and 2025, it excludes 440 payable gold ounces and 858 payable gold ounces produced at La India and 58 payable gold ounces and 39 payable gold ounces produced at Creston Mascota. For the six months ended June 30, 2026 and 2025, it excludes 858 payable gold ounces and 2,669 payable gold ounces produced at La India and 134 payable gold ounces and 64 payable gold ounces produced at Creston Mascota.
(ii) Payable metals sold at Canadian Malartic, Detour Lake and Macassa exclude the in-kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines. For the six months ended June 30, 2025, payable metals sold excludes 2,500 ounces from La India.

AGNICO EAGLE MINES LIMITED
CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS
(thousands of United States dollars, except share amounts)
(Unaudited)

	As at	As at
	June 30, 2026	December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$ 3,463,957	$ 2,866,053
Inventories	1,623,497	1,698,830
Fair value of derivative financial instruments	3,525	34,428
Other current assets	432,603	394,631
Total current assets	5,523,582	4,993,942
Non-current assets:
Goodwill	4,157,672	4,157,672
Property, plant and mine development	25,735,534	22,850,540
Investments	1,161,559	1,508,252
Other assets	1,216,696	960,885
Total assets	$ 37,795,043	$ 34,471,291

LIABILITIES
Current liabilities:
Accounts payable and accrued liabilities	$ 1,278,680	$ 1,033,444
Share based liabilities	30,365	31,722
Income taxes payable	278,144	1,226,347
Reclamation provision	222,016	144,537
Lease obligations	34,306	30,480
Fair value of derivative financial instruments	89,101	5,676
Total current liabilities	1,932,612	2,472,206
Non-current liabilities:
Long-term debt	196,825	196,271
Reclamation provision	1,286,556	1,318,476
Lease obligations	89,219	94,719
Share based liabilities	12,785	23,921
Deferred income and mining tax liabilities	5,489,781	5,373,013
Other liabilities	183,535	250,221
Total liabilities	9,191,313	9,728,827

EQUITY
Common shares:
Outstanding -- 506,899,374 common shares issued, less 534,510 shares held in trust	20,147,781	18,699,862
Stock options	166,303	166,775
Retained earnings	8,130,478	5,463,906
Other reserves	159,168	411,921
Total equity	28,603,730	24,742,464
Total liabilities and equity	$ 37,795,043	$ 34,471,291

AGNICO EAGLE MINES LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF INCOME
(thousands of United States dollars, except per share amounts)
(Unaudited)

	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025

REVENUES
Revenues from mining operations	$ 3,802,818	$ 2,816,101	$ 7,902,407	$ 5,284,349

COST OF SALES
Production costs	953,758	789,187	1,909,345	1,556,920
Amortization of property, plant and mine development	423,256	376,956	843,522	793,756
Gross profit	2,425,804	1,649,958	5,149,540	2,933,673

EXPENSES (INCOME)
Exploration and corporate development	61,531	52,100	114,087	93,905
General and administrative	57,948	57,890	135,798	118,599
Finance costs	16,039	27,429	31,795	49,873
Loss (gain) on derivative financial instruments	81,404	(125,264)	76,704	(194,123)
Foreign exchange translation	20,128	(11,571)	19,395	(11,631)
Care and maintenance	15,275	15,682	37,871	29,583
Gain on sale of investments	(155,319)	--	(155,319)	--
Other income and expenses	5,943	17,073	6,730	36,277
Income before income and mining taxes	2,322,855	1,616,619	4,882,479	2,811,190
Income and mining taxes expense	722,402	547,908	1,586,565	927,748
Net income for the period	$ 1,600,453	$ 1,068,711	$ 3,295,914	$ 1,883,442

Net income per share - basic	$ 3.19	$ 2.13	$ 6.58	$ 3.75
Net income per share - diluted	$ 3.17	$ 2.12	$ 6.56	$ 3.74
Adjusted net income per share - basic⁽ⁱ⁾	$ 3.07	$ 1.94	$ 6.48	$ 3.47
Adjusted net income per share - diluted⁽ⁱ⁾	$ 3.05	$ 1.94	$ 6.46	$ 3.46

Weighted average number of common shares outstanding (in thousands):
Basic	501,659	502,579	500,950	502,489
Diluted	502,906	504,360	502,361	503,885

Note:
⁽ⁱ⁾Adjusted net income per share is not a recognized measure under IFRS Accounting Standards and this data may not be comparable to data reported by other companies. See Note Regarding Certain Measures of Performance – Adjusted Net Income and Adjusted Net Income per Share for a discussion of the composition and usefulness of this measure and a reconciliation to the nearest IFRS Accounting Standards measure.

AGNICO EAGLE MINES LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
(thousands of United States dollars)
(Unaudited)

	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025

OPERATING ACTIVITIES
Net income for the period	$ 1,600,453	$ 1,068,711	$ 3,295,914	$ 1,883,442
Add (deduct) adjusting items:
Amortization of property, plant and mine development	423,256	376,956	843,522	793,756
Gain on sale of investments	(155,319)	--	(155,319)	--
Deferred income and mining taxes	99,283	(8,766)	158,820	9,725
Unrealized loss (gain) on currency and commodity derivatives	92,988	(118,678)	117,042	(149,798)
Unrealized loss (gain) on warrants	12,296	(7,263)	(6,693)	(61,431)
Stock-based compensation	11,695	21,389	46,626	48,782
Foreign exchange translation	20,128	(11,571)	19,395	(11,631)
Other	7,424	11,308	24,259	28,631

Changes in non-cash working capital balances:
Income taxes	(13,390)	478,106	(1,002,470)	301,367
Inventories	(42,494)	(53,061)	(5,694)	(22,144)
Other current assets	(18,741)	(38,152)	(29,755)	(6,762)
Accounts payable and accrued liabilities	106,541	126,509	184,341	75,797
Cash provided by operating activities	2,144,120	1,845,488	3,489,988	2,889,734

INVESTING ACTIVITIES
Additions to property, plant and mine development	(809,255)	(540,476)	(1,423,004)	(990,600)
Purchase of O3 Mining, net of cash and cash equivalents acquired	--	--	--	(121,960)
Purchase of Central Lapland properties, net of cash and cash equivalents	(578,408)	--	(578,408)	--
Contributions for acquisition of mineral assets	(6,354)	(4,575)	(11,634)	(8,400)
Purchase of equity securities and other investments	(73,389)	(70,304)	(218,091)	(138,361)
Proceeds on sale of equity securities and other investments	260,646	--	260,646	--
Other investing activities	17,177	4,419	16,049	(1,555)
Cash used in investing activities	(1,189,583)	(610,936)	(1,954,442)	(1,260,876)

FINANCING ACTIVITIES
Repayment of Senior Notes	--	(550,000)	--	(550,000)
Repayment of lease obligations	(8,531)	(9,172)	(15,769)	(18,350)
Dividends paid	(206,854)	(180,778)	(410,019)	(356,345)
Repurchase of common shares	(399,942)	(99,938)	(567,775)	(159,988)
Proceeds on exercise of stock options	1,548	9,820	32,982	61,846
Common shares issued	13,064	10,913	25,214	20,716
Cash used in financing activities	(600,715)	(819,155)	(935,367)	(1,002,121)
Effect of exchange rate changes on cash and cash equivalents	(1,734)	3,856	(2,275)	4,397
Net increase in cash and cash equivalents during the period	352,088	419,253	597,904	631,134
Cash and cash equivalents, beginning of period	3,111,869	1,138,312	2,866,053	926,431
Cash and cash equivalents, end of period	$ 3,463,957	$ 1,557,565	$ 3,463,957	$ 1,557,565

SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid	$ 2,776	$ 37,233	$ 3,339	$ 38,418
Income and mining taxes paid	$ 623,176	$ 79,703	$ 2,411,498	$ 616,305

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SOURCE Agnico Eagle Mines Limited

AGNICO EAGLE ANNOUNCES INVESTMENT IN CADILLAC MINES CORPORATION

Fri, 24 Jul 2026 08:00:00 -0400

Stock Symbol: AEM (NYSE and TSX)

TORONTO, July 24, 2026 /CNW/ -- Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that it has entered into a subscription agreement dated July 23, 2026 (the "Subscription Agreement") with Cadillac Mines Corporation ("Cadillac"), pursuant to which Agnico Eagle agreed to acquire 8,696,000 common shares of Cadillac ("Common Shares") at a price of C$6.90 per Common Share for total consideration of C$60,002,400.00(the "Private Placement"). The Private Placement is subject to certain closing conditions, including the closing of Cadillac's initial public offering of Common Shares (the "IPO") pursuant to Cadillac's final long form base PREP prospectus dated July 23, 2026. The Private Placement is expected to close on or about August 5, 2026.

Prior to entering into the Subscription Agreement, Agnico Eagle owned 22,821,028 Common Shares, representing approximately 9.70% of the issued and outstanding Common Shares on a non-diluted basis. On closing of the Private Placement, Agnico Eagle is expected to own 31,517,028 Common Shares, representing approximately 11.09% of the issued and outstanding Common Shares on a non-diluted basis after giving effect to the IPO (assuming the issuance of all Common Shares qualified thereunder) and all other security issuances completed by Cadillac concurrently with the Private Placement.

Pursuant to a subscription agreement dated July 25, 2023 between Agnico Eagle and Cadillac, Agnico Eagle is entitled to certain rights, including the right to participate in equity financings in order to maintain its pro rata ownership interest in Cadillac at the time of such financing.

On closing of the IPO, Agnico Eagle will enter into a lock-up agreement in favour of the underwriters of the IPO, pursuant to which it will agree that it will not, directly or indirectly, without the prior written consent of the underwriters: (a) offer, sell, pledge or otherwise dispose of any Common Shares or any securities convertible into or exercisable or exchangeable for Common Shares (collectively, the "Locked-Up Securities"); (b) make any short sale, engage in any hedging or enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Locked-Up Securities; or (c) agree to or publicly announce any intention to do any of the foregoing, in each case, for a period of 180 days following the closing date of the IPO, subject to certain limited exceptions.

Agnico Eagle is acquiring the Common Shares as part of its strategy of acquiring strategic positions in prospective opportunities with high geological potential. Depending on market conditions, strategic priorities and other factors, Agnico Eagle may, from time to time, acquire additional Common Shares or other securities of Cadillac or dispose of some or all of the Common Shares or other securities of Cadillac that it owns at such time.

An early warning report will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact:

Investor Relations
Agnico Eagle Mines Limited
145 King Street East, Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Email: investor.relations@agnicoeagle.com

Agnico Eagle's head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. Cadillac's head office is located at 123 Front Street West, Suite 905, Toronto, Ontario M5J 2M2.

About Agnico Eagle

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. Agnico Eagle is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

Forward-Looking Statements

The information in this news release has been prepared as at July 24, 2026. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "may", "will" or similar terms.

Forward-looking statements in this news release include, without limitation, statements relating to Agnico Eagle's acquisition of Common Shares pursuant to the Private Placement and expected ownership interest in Cadillac, the closing of the Private Placement and IPO and the agreements to be entered into in connection therewith, and Agnico Eagle's acquisition or disposition of securities of Cadillac in the future.

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SOURCE Agnico Eagle Mines Limited

AGNICO EAGLE REPORTS WALL MOVEMENT AT BARNAT OPEN PIT AT CANADIAN MALARTIC

Thu, 02 Jul 2026 07:47:00 -0400

Stock Symbol: AEM (NYSE and TSX)

TORONTO, July 2, 2026 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") reports that a rock mass movement occurred on July 1, 2026, along the north wall of the Barnat open pit at the Canadian Malartic complex in Quebec, Canada. There were no injuries, equipment damage or environmental impact as a result of the event. As a precautionary measure, the Company has temporarily suspended mining operations in the Barnat open pit.

The rock mass movement occurred within an area that had been previously identified as having weaker geological structures within the north wall at Barnat and was subject to enhanced geotechnical monitoring in accordance with established mine planning and safety protocols, including safety exclusion zones.

The Company's technical teams are conducting a detailed geotechnical assessment to confirm the stability of the affected area and determine the appropriate path forward. Planning activities are underway to support the safe and orderly resumption of operations in the Barnat pit. Safety remains the Company's highest priority.

During the suspension of in-pit mining operations, the Canadian Malartic processing plant will be supplied with low-grade ore from existing stockpiles in place of planned Barnat ore feed. This approach is expected to help mitigate the near-term impact on production.

Production in the second quarter of 2026 was not affected and the Company expects production for the second quarter of approximately 845,000 ounces of gold, slightly ahead of plan. However, based on currently available information, the Company expects the rock mass movement to reduce production in the second half of 2026 at Canadian Malartic by approximately 60,000 to 80,000 ounces of gold. Accordingly, the Company expects full year 2026 production to be near the lower end of its previously disclosed guidance range of 3.3 million to 3.5 million ounces of gold.

The Barnat open pit was expected to be mined out by early 2029. While the Company's geotechnical assessment remains ongoing, the event is currently expected to result in reduced production in both 2027 and 2028 of up to approximately 150,000 ounces of gold per year. The Company is continuing to evaluate opportunities to mitigate this potential impact to its production outlook.

Importantly, the Company believes that the rock mass movement will not affect the development or production outlook for the Odyssey mine and does not change the pathway to achieving annual production of 1 million ounces of gold from the Canadian Malartic complex in the early 2030s.

The Company will continue to advance its geotechnical assessment and refine the timing for a safe restart of mining operations at the Barnat open pit. Further updates to production and cost guidance will be provided with the Company's second quarter 2026 results, scheduled for release after market close on July 29, 2026.

About Agnico Eagle

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. Agnico Eagle is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

For further information regarding Agnico Eagle, contact Investor Relations at investor.relations@agnicoeagle.com or call (416) 947-1212.

Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could, or may or will occur are forward-looking statements. When used in this news release, the words "could", "estimate", "expect", "guide", "may", "pathway", "plan", "potential", "schedule", "will", and similar expressions are intended to identify forward-looking statements.

Forward-looking statements in this news release include, without limitation, statements relating to the Company's forward-looking guidance, including gold production for 2026, 2027 and 2028; life of mine estimates; the use of low-grade stock piles at the Canadian Malartic processing facility; the potential to mitigate the impact production impacts from the rock mass movement; the target to achieve annual production of 1 million ounces of gold from the Canadian Malartic complex in the early 2030s; the expected impact of the rock mass movement on the development and production outlook of the Odyssey mine; the expected environmental impact of the rock mass movement; and the potential to restart mining operations at the Barnat pit. Such statements reflect the Company's views as at the date of this news release and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material factors and assumptions used in the preparation of the forward-looking statements contained herein, which may prove to be incorrect, include, but are not limited to, the assumptions set forth herein and in management's discussion and analysis for the year ended December 31, 2025 (the "2025 MD&A") and the Company's Annual Information Form (the "AIF") for the year ended December 31, 2025 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the year ended December 31, 2025 (the "Form 40-F") filed with the U.S. Securities and Exchange Commission (the "SEC") as well as: that there are no significant disruptions affecting operations; that production, permitting, development, expansion and the operations at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the Company's plans for its mining operations are not changed or amended in a material way; that the relevant metal prices, foreign exchange rates and prices for key mining and construction inputs (including labour and electricity) will be consistent with Agnico Eagle's expectations; that the effect of tariffs or trade disputes will not materially affect the price or availability of the inputs the Company uses at its operations; that Agnico Eagle's current estimates of mineral reserves, mineral resources, mineral grades and metal recovery are accurate; that there are no material delays in the timing for completion of ongoing growth projects; that seismic activity at the Company's operations at LaRonde, Goldex, Fosterville and other properties is as expected by the Company and that the Company's efforts to mitigate its effect on mining operations, including with respect to community relations, are successful; that the Company's current plans to address climate change and reduce greenhouse gas emissions are successful; that the Company's current plans to optimize production are successful; that there are no material variations in the current tax and regulatory environment; that governments, the Company or others do not take measures in response to pandemics or other health emergencies or otherwise that, individually or in the aggregate, materially affect the Company's ability to operate its business or its productivity; and that measures taken relating to, or other effects of, pandemics or other health emergencies do not affect the Company's ability to obtain necessary supplies and deliver them to its mine sites. Many factors, known and unknown, could cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, project development, capital expenditures and other costs; foreign exchange rate fluctuations; inflationary pressures; financing of additional capital requirements; cost of exploration and development programs; seismic activity at the Company's operations, including at LaRonde, Goldex and Fosterville; mining risks; community protests, including by Indigenous groups; risks associated with foreign operations; risks associated with joint ventures; governmental and environmental regulation; the volatility of the Company's stock price; risks associated with the Company's currency, fuel and by-product metal derivative strategies; the current interest rate environment; the potential for major economies to encounter a slowdown in economic activity or a recession; the potential for increased conflict or hostilities in various regions, including Europe, South America and the Middle East; and the extent and manner of communicable diseases or outbreaks, and measures taken by governments, the Company or others to attempt to mitigate the spread thereof may directly or indirectly affect the Company. For a more detailed discussion of such risks and other factors that may affect the Company's ability to achieve the expectations set forth in the forward-looking statements contained in this news release, see the AIF and 2025 MD&A filed on SEDAR+ at www.sedarplus.ca and included in the Form 40-F filed on EDGAR at www.sec.gov, as well as the Company's other filings with the Canadian securities regulators and the SEC. Other than as required by law, the Company does not intend, and does not assume any obligation, to update these forward-looking statements.

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SOURCE Agnico Eagle Mines Limited

AGNICO EAGLE PROVIDES NOTICE OF RELEASE OF SECOND QUARTER 2026 RESULTS AND CONFERENCE CALL

Mon, 29 Jun 2026 07:30:00 -0400

Stock Symbol: AEM (NYSE and TSX)

TORONTO, June 29, 2026 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") today announced that it will release its second quarter 2026 results on Wednesday, July 29, 2026, after normal trading hours.

Second Quarter 2026 Results Conference Call and Webcast

Agnico Eagle's senior management will host a conference call on Thursday, July 30, 2026, at 11:00 AM (E.D.T.) to discuss the Company's financial and operating results.

Via Webcast:

To listen to the live webcast of the conference call, you may register on the Company's website at www.agnicoeagle.com, or directly via the link here.

Via Phone:

To join the conference call by phone, please dial 437.900.0527 or toll-free 1.888.510.2154 to be entered into the call by an operator. To ensure your participation, please call approximately five minutes prior to the scheduled start of the call.

To join the conference call without operator assistance, you may register your phone number here 30 minutes prior to the scheduled start of the call to receive an instant automated call back.

Replay Archive:

Please dial 289.819.1450 or toll-free 1.888.660.6345, access code 02161 #. The conference call replay will expire on August 30, 2026.

The webcast, along with presentation slides, will be archived for 180 days on the Company's website.

About Agnico Eagle

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SOURCE Agnico Eagle Mines Limited

AGNICO EAGLE UPDATES EARLY WARNING REPORT IN RESPECT OF PRISM RESOURCES INC.

Thu, 04 Jun 2026 08:30:00 -0400

Stock Symbol: AEM (NYSE and TSX)

TORONTO, June 4, 2026 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that it has updated its early warning report in respect of Prism Resources Inc. ("Prism") in connection with Agnico Eagle entering into a royalty purchase agreement (the "Royalty Purchase Agreement") with Prism, pursuant to which Agnico Eagle has agreed to purchase Prism's right, title and interest in and to a 7.5% net profit interest royalty (the "Royalty") over certain properties in the Porcupine Mining District of Ontario owned by Agnico Eagle in exchange for $5,000,000 in cash (the "Transaction").

The Transaction is subject to a number of customary closing conditions, including approval by Prism's shareholders and receipt of acceptance of the TSX Venture Exchange. Subject to satisfaction of the closing conditions, the Transaction is expected to close in the third quarter of 2026.

Agnico Eagle is not acquiring any common shares ("Common Shares") or other securities in the capital of Prism in connection with the Transaction. Immediately before and after the execution and delivery of the Royalty Purchase Agreement, Agnico Eagle owned 5,750,000 Common Shares, representing approximately 11.07% of the issued and outstanding Common Shares on a non-diluted basis.

The Transaction is expected to result in the sale or transfer of a material amount Prism's assets and may result in a material change in Prism's business. Depending on market conditions and other factors, Agnico Eagle may, from time to time, acquire additional Common Shares or other securities of Prism or dispose of some or all of the Common Shares or other securities of Prism that it owns at such time.

An early warning report will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact:

Investor Relations
Agnico Eagle Mines Limited
145 King Street East, Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Email: investor.relations@agnicoeagle.com

Agnico Eagle's head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. Prism's head office is located at Suite 1500 – 1055 West Georgia Street, Vancouver, British Columbia, V6E 4N7.

About Agnico Eagle

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. Agnico Eagle is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

Forward-Looking Statements

The information in this news release has been prepared as at June 4, 2026. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "may", "will" or similar terms.

Forward-looking statements in this news release include, without limitation, statements relating to Agnico Eagle's proposed acquisition of the Royalty and Agnico Eagle's acquisition or disposition of securities of Prism in the future.

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SOURCE Agnico Eagle Mines Limited

AGNICO EAGLE ANNOUNCES INVESTMENT IN WALLBRIDGE MINING COMPANY LIMITED

Wed, 20 May 2026 08:17:00 -0400

Stock Symbol: AEM (NYSE and TSX)

TORONTO, May 20, 2026 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") announced today that it entered into a subscription agreement with Wallbridge Mining Company Limited ("Wallbridge"), pursuant to which Agnico Eagle agreed to purchase 243,927,966 common shares of Wallbridge ("Common Shares") at a price of C$0.092 per Common Share for total consideration of C$22,441,373 (the "Private Placement"). The Private Placement is subject to certain closing conditions, including approval of the Toronto Stock Exchange, and is expected to close on or about May 22, 2026.

Prior to entering into the Subscription Agreement, Agnico Eagle owned 115,358,013 Common Shares and 6,275,897 common share purchase warrants (the "Warrants"), entitling Agnico Eagle to acquire one Common Share per Warrant, representing approximately 9.44% of the issued and outstanding Common Shares on a non-diluted basis and 9.90% of the issued and outstanding Common Shares on a partially-diluted basis (assuming the exercise of the Warrants held by Agnico Eagle at such time). On closing of the Private Placement, Agnico Eagle is expected to own 359,285,979 Common Shares and 6,275,897 Warrants, representing approximately 19.62% of the issued and outstanding Common Shares on a non-diluted basis and 19.90% of the Common Shares on a partially-diluted basis (assuming exercise of the Warrants held by Agnico Eagle at such time).

On closing of the Private Placement, Agnico Eagle and Wallbridge will enter into an investor rights agreement, pursuant to which Agnico Eagle will be entitled to certain rights, provided it maintains certain ownership thresholds in Wallbridge, including: (a) the right to participate in equity financings or top-up its holdings in relation to dilutive issuances in order to maintain its pro rata ownership in Wallbridge at the time of such financing or dilutive issuance; and (b) the right (which Agnico Eagle has no present intention of exercising) to nominate one person (and in the case of an increase in the size of the board of directors of Wallbridge to nine or more directors, two persons) to the board of directors of Wallbridge.

Agnico Eagle is acquiring the Common Shares as part of its strategy of acquiring strategic positions in prospective opportunities with high geological potential. Depending on market conditions, strategic priorities and other factors, Agnico Eagle may, from time to time, acquire additional Common Shares, Warrants or other securities of Wallbridge or dispose of some or all of the Common Shares, Warrants or other securities of Wallbridge that it owns at such time.

An early warning report will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact:

Investor Relations
Agnico Eagle Mines Limited
145 King Street East, Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Email: investor.relations@agnicoeagle.com

Agnico Eagle's head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. Wallbridge's head office is located at 129 Fielding Rd., Lively, Ontario P3Y 1L7.

About Agnico Eagle

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. Agnico Eagle is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

Forward-Looking Statements

The information in this news release has been prepared as at May 20, 2026. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "may", "will" or similar terms.

Forward-looking statements in this news release include, without limitation, statements relating to Agnico Eagle's acquisition of Common Shares pursuant to the Private Placement and expected ownership interest in Wallbridge, the closing of the Private Placement and agreements to be entered into in connection therewith, and Agnico Eagle's acquisition or disposition of securities of Wallbridge in the future.

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SOURCE Agnico Eagle Mines Limited

AGNICO EAGLE APPROVES HOPE BAY INVESTMENT DECISION; STRONG ECONOMIC RETURNS WITH EXPECTED ANNUAL GOLD PRODUCTION OF OVER 400,000 OUNCES

Tue, 19 May 2026 06:00:00 -0400

Stock Symbol: AEM (NYSE and TSX)

(All amounts expressed in U.S. dollars unless otherwise noted)

TORONTO, May 19, 2026 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") is pleased to report a positive investment decision for its Hope Bay project, located in Nunavut, Canada. Following significant exploration success in recent years, the Company has completed a preliminary economic assessment (the "2026 Study") which contemplates an underground mining operation supported by a 6,000 tonnes per day ("tpd") processing facility with estimated annual gold production of between 400,000 and 435,000 ounces. The 2026 Study outlines an initial mine life of 11 years, with substantial upside potential from regional exploration across the highly prospective 80-kilometre greenstone belt extending south from the Doris mine to the Boston deposit, where the Company continues to pursue an aggressive exploration program.

"We are incredibly proud of our team for transforming Hope Bay from a vision into one of Canada's most important new mines in just five years. With expected annual production of over 400,000 ounces and total cash costs below $1,000 per ounce, based on only half the declared mineral resources drilled, Hope Bay has the potential to evolve into a long-life, district-scale mining camp for decades to come," said Ammar Al-Joundi, Agnico Eagle's President and Chief Executive Officer. "The construction and redevelopment of Hope Bay will support the long‑term sustainability of our Nunavut operating platform at between 800,000 ounces and one million ounces of annual gold production and represents the first major milestone toward delivering our targeted 20% to 30% production growth over the next decade. We are also proud that this investment will contribute to the economic development of Northern Canada and enable meaningful, long‑term economic participation for Indigenous organizations and partners, including the Kitikmeot Inuit Association," added Mr. Al-Joundi.

Highlights from the 2026 Study include:

Development of the next large-scale gold mine in Nunavut
- Large and high-quality mineral resource base of 5.79 million ounces of gold (31.97 million tonnes grading 5.63 grams per tonne ("g/t") gold) in the measured and indicated category and 3.33 million ounces of gold (17.33 million tonnes grading 5.97 g/t gold) in the inferred category
- An initial 11‑year mine life which incorporates only approximately 55% of measured and indicated mineral resources and 48% of inferred mineral resources, highlighting substantial upside potential. With continued infill and expansion drilling, the Hope Bay project demonstrates strong prospects to extend mine life and further grow its production profile
- Startup plan contemplates three mining fronts (Doris at the Doris deposit; and Madrid and Patch 7 at the Madrid deposit) supported by a conventional 6,000 tpd milling facility
- Average annual steady state gold production of approximately 435,000 ounces and an average of approximately 408,000 ounces over the full initial 11-year mine life
Attractive economics with meaningful upside leverage
- Initial development capital expenditures¹ are estimated at approximately $2.4 billion, including reconstruction of the processing facility, addition of a 37 megawatt diesel generator power plant, mobile equipment, upgrades to the tailings facility and approximately 33 kilometres in underground development, positioning the operation for multi-decade potential
- Cost structure is below the Company's current peer-leading cost profile, with projected average total cash costs per ounce² and all in sustaining costs ("AISC") per ounce² of approximately $958 and $1,214, respectively, using current gold prices of $4,500 per ounce and a C$/US$ exchange rate of 1.36
- In this initial phase, the Hope Bay project is expected to generate an after-tax internal rate of return ("IRR") of approximately 26% based on the same assumptions
- Significant exploration upside is expected to extend mine life through mineral resource conversion and expansion drilling at the Doris and Madrid deposits in the short-term and the potential addition of Boston as a satellite deposit in the medium- to long-term
Project significantly de-risked and execution-ready
- Detailed engineering is approximately 62% complete, providing a high level of confidence in the capital cost estimate and execution plan
- Significant surface infrastructure upgrades completed, including enhancements to port facilities, camp infrastructure and water management systems, supporting the ramp-up of construction activities
- Leveraging the Company's nearly 20 years of proven expertise in Arctic mine construction and operations
- Key underground access points are advanced, including the Naartok East exploration ramp and the Patch 7 exploration portal and ramp
- Continued aggressive exploration program planned in the coming years across the broader Hope Bay property

"Over nearly 20 years, we have consistently created value through the drill bit across our Nunavut assets. At Hope Bay, the discovery of the new mineralized zone at Patch 7 was transformative, with high‑grade and thick mineralized intercepts defining a new mining area within the Madrid deposit. This success reflects the strength and agility of our exploration team, which quickly identified this high‑potential opportunity following the acquisition of the project and delivered results through an aggressive and well‑executed exploration program over the last five years," said Guy Gosselin, Agnico Eagle's Executive Vice President, Exploration. "Patch 7 underscores the significant exploration upside of the Hope Bay greenstone belt, and we remain highly encouraged by the opportunity to continue growing mineral resources both at depth and laterally at Doris and Madrid in the near term, at the Boston deposit in the medium-to long-term and continue to unlock further value across the highly prospective 80‑kilometre belt," added Mr. Gosselin.

Significant exploration potential to grow underground mineral resources
- The 2026 Study is based on a mineral resource estimate which relies on a drill database cut-off of August 28, 2025. The Company has since drilled more than 130 holes totalling over 100,000 metres at Hope Bay to the end of April 2026 in an ongoing exploration program. Recent exploration results show the potential to significantly expand the underground mineral resource between Suluk and Patch 7, to the south of Patch 7 towards Patch 14, and at depth
- Over the next three years, as part of the Company's exploration budget, more than $100 million in exploration spending is planned at Hope Bay, primarily focused on conversion and expansion drilling of the current underground mineral resource. Work in 2026 includes continued testing and extension of the Patch 7 zone and the resumption of diamond drilling at Boston
Continue to enhance value through optimization studies and regional exploration focus
- The Boston deposit is located approximately 50 kilometres south of the Madrid deposit and hosts approximately 1.01 million ounces of gold in indicated mineral resources (5.48 million tonnes grading 5.72 g/t gold) and 0.47 million ounces of gold in inferred mineral resources (2.85 million tonnes grading 5.14 g/t gold). It contains some of the highest-grade intersections identified at Hope Bay to date and remains open in all directions. Resuming exploration efforts at Boston aims to test known gold mineralization in the southern portion of the Hope Bay greenstone belt, exploring the gap between Madrid and Boston where fertile rocks and structures are expected to potentially increase economic mineralization
- Ongoing district‑scale exploration across Hope Bay's extensive land position will focus on satellite targets and the highly prospective corridor between the Madrid and Boston deposits. This area, which lies along the same greenstone belt and major deformation zones, has seen only limited shallow drilling historically and is expected to be a core focus of the Company's exploration strategy in the coming years, alongside continued advancement of the Boston deposit. Regional work will also incorporate geophysics, geochemistry, and modern exploration techniques to refine targeting and support the identification of additional deposits across the belt

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¹ Development capital expenditure is non-GAAP measures that is not standardized under IFRS Accounting Standards. For a description of the composition and usefulness of this non-GAAP measure, see "Note Regarding Certain Measures of Performance" below.

² Total cash costs per ounce and all-in sustaining costs per ounce (or "AISC" per ounce) are non-GAAP measures that are not standardized financial measures under IFRS Accounting Standards and, in this news release, unless otherwise specified, are reported on (i) a per ounce of gold production basis, and (ii) a by-product basis. For a description of their composition and usefulness of these non-GAAP measures, see "Note Regarding Certain Measures of Performance" below.

The Company recognizes the alignment between its investment in the redevelopment of Hope Bay and Canada's focus on advancing strategic resource development in the North. The Hope Bay project is expected to generate significant long-term benefits for Canada, including an estimated C$2.6 billion annually in exports, the creation of more than 2,000 direct and indirect jobs, and meaningful economic participation for Indigenous organizations and partners, including the Kitikmeot Inuit Association ("KIA"). Agnico Eagle welcomes the federal government's C$25 million funding commitment to the Hope Bay Wind Project, led by Inuit-owned Kitikmeot Tugliq Limited Partnership, which will add four megawatts of wind power and four megawatts of battery storage to the site's power system. This project is expected to reduce diesel consumption by approximately three million litres per year, lower greenhouse gas emissions and improve energy security as Hope Bay advances into construction and operation phases.

"Canadians have been talking about the massive opportunity of the Hope Bay deposit since the 1990s – but the time for talking is over, and it's time to build. Our government welcomes the ambition of this project and is pleased to support the accompanying opportunity for both clean energy development and energy security. The Arctic is the place where natural resource wealth, Indigenous leadership, national security, and economic growth and prosperity come together, and by accelerating our efforts on all those fronts, we not only can build Canada Strong, but we will build Canada Strong," said the Honourable Tim Hodgson, Minister of Energy and Natural Resources of Canada.

2026 Study Economic Analysis and Operating and Financial Highlights

The forecast parameters surrounding the 2026 Study were based on a preliminary economic assessment, that is preliminary in nature and includes inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the forecast production amounts will be realized. The basis for the preliminary economic assessment and the qualifications and assumptions made by the qualified persons who undertook the preliminary economic assessment are set out below.

The Company believes Hope Bay has the potential to produce an annual average of approximately 435,000 ounces of gold during steady state production, with initial production possible as early as 2030. Over an expected 11-year mine life, a total of approximately 22.8 million tonnes of ore with an average grade of 6.50 g/t gold is expected to be milled, yielding total gold production of approximately 4.5 million ounces.

Using a gold price of $3,600 per ounce and a C$/US$ exchange rate of 1.35, the Hope Bay project's total cash costs per ounce and AISC per ounce are expected to be approximately $942 and $1,199, respectively. Initial capital costs are estimated at approximately $2.4 billion. Total sustaining capital expenditures³ are estimated at approximately $1.1 billion. On this basis, the Hope Bay project is expected to yield an after-tax IRR of 19% and an after-tax net present value ("NPV") of approximately $2.7 billion (at a 5% discount rate).

Using current gold prices of $4,500 per ounce and a C$/US$ exchange rate of 1.36, the Hope Bay project's total cash costs per ounce and AISC per ounce are expected to be approximately $958 and $1,214, respectively. Initial capital costs are estimated at approximately $2.4 billion. Total sustaining capital expenditures are estimated at approximately $1.1 billion. On this basis, the Hope Bay project is expected to generate an after-tax IRR of 26% and an after-tax NPV of approximately $4.3 billion (at a 5% discount rate).

The initial capital costs of approximately $2.4 billion comprise approximately $1.5 billion related to surface infrastructure, primarily for the reconstruction of the processing plant and the addition of a 37 megawatt diesel power plant, approximately $0.7 billion related to underground development and underground infrastructure at Doris, Madrid and Patch 7 mining fronts and approximately $0.2 billion related to mobile equipment.

Additional details regarding the project are set out below.

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³ Sustaining capital expenditure is non-GAAP measures that is not standardized under IFRS Accounting Standards. For a description of the composition and usefulness of this non-GAAP measure, see "Note Regarding Certain Measures of Performance" below.

Hope Bay Project Summary
(All numbers are approximate)
Estimated total production		4.5	million ounces of gold
Total mill feed		22.8	million tonnes of ore
Average gold grade		6.50	g/t
Average metallurgical recovery		94.0 %	average life of mine for gold doré
Payable metal		100 %	gold doré
Refining costs		$1.96	/oz
Average annual gold production	2030	319,000	oz
	2031	380,000	oz
2032-2038 (average)		435,000	oz
	2039	382,000	oz
	2040	357,000	oz
Royalty		2.4 %	NSR
NTI Payments*	2030-2034	2 %	on operating profit
	2035-2040	7 %	on operating profit
Minesite costs per tonne	2030	C$255	C$/t (excludes royalties)
2031		C$233	C$/t (excludes royalties)
2032-2038 (average)		C$224	C$/t (excludes royalties)
2039		C$219	C$/t (excludes royalties)
2040		C$215	C$/t (excludes royalties)
Average total cash costs on a by-product basis		$942	/oz
Average AISC on a by-product basis		$1,199	/oz
Mine life		11	years
Capital expenditures
Development capital
	H2 2026	$428	million
	2027	$797	million
	2028	$591	million
	2029	$520	million
Sustaining capital (annual)
2030-2034 (average)		$152	million
2035-2039 (average)		$73	million
	Total	$3,461	million
Reclamation costs		$196	million
Economic assumptions:
Gold price		$3,600	/oz
C$/US$ exchange rate		1.35
Effective tax rate		33 %

* NTI Payments are made to the Nunavut Tunngavik Inc. ("NTI"), which are similar in nature to net profits royalty payable under the Crown royalty regime. The lower effective annual rate from 2030-2034 reflects higher operating and capital expenditure deductions available in those years.

Project Economic Sensitivity

The economics of the Hope Bay project are most sensitive to the gold price, C$/US$ exchange rate, capital expenditures, operating costs and the diesel price. The estimated sensitivity of IRR, NPV, total cash costs per ounce and AISC per ounce to these factors are set out in the tables below.

Sensitivity Factor	2026 Study Basis	IRR (%)	NPV ($M)	Total Cash Cost ($/oz)	AISC ($/oz)
$100/oz change in gold price	$3,600	0.73	174	2	2
$0.01 change in C$/US$	1.35	0.19	25	6	7
10% change in initial capital expenditures	$2.4B	1.62	149	–	–
10% change in sustaining capital expenditures	$1.1B	0.29	52	–	25
10% change in operating costs per tonne	C$224/t	0.67	154	85	85
10% change in diesel price during construction	$0.85/L*	0.05	5	–	–
10% change in diesel price during production years	$0.85/L*	0.06	16	8	9

* Diesel price includes transportation and taxes.

Taxes, NTI Payments and Royalties

The Hope Bay project is subject to Canadian income taxes at a 27% rate (15% federal and 12% Nunavut) and applicable mining royalties in the Nunavut Territory. The Hope Bay property is situated on both Crown Mining Leases and Nunavut Tunngavik Inc. ("NTI") exploration concessions. Production from the Madrid North deposit is subject to a net profits royalty payable under the Crown royalty regime in accordance with the Nunavut Mining Regulations ("NMR"). The royalty rate is based on a sliding scale to a maximum of 13%. The Doris deposit and Patch 7 zone are subject to a similar royalty payable to NTI ("NTI Payments"). The NMR royalties will be reflected in the income tax and effective tax rate while the NTI Payments will be reflected in production cost but excluded from total cash costs per ounce and AISC per ounce. Additionally, production from the Hope Bay property is subject to net smelter return royalties of 2.4% (1.4% to Kitikmeot Inuit Association and 1% to Triple Flag Precious Metals Corp.).

Hope Bay Project Description

The Hope Bay project is located in the Kitikmeot region of Western Nunavut, Canada, approximately 125 kilometres southwest of Cambridge Bay and east of Bathurst Inlet, about 160 kilometres north of the Arctic Circle. The project comprises a large, contiguous land package covering approximately 1,951 square kilometres, extending roughly 80 kilometres north–south and 20 kilometres east–west, and includes a combination of Crown mineral claims, Crown mining leases, a production lease, and land access agreements providing surface and subsurface mineral rights on Inuit‑owned lands.

Hope Bay hosts the Doris, Madrid and Boston deposits, which contain orogenic‑style gold mineralization associated with major deformation zones within the Hope Bay greenstone belt. The Company's broader Hope Bay property portfolio encompasses the Hope Bay greenstone belt and the adjacent Elu greenstone belt, together representing a highly prospective district‑scale land position.

[Hope Bay – Property and Regional Geology Map]

Mineral exploration in the Hope Bay area started in 1964, focusing first on silver prospects and then turning to gold following the discovery of the Boston, Doris and Madrid gold deposits in the 1990s under the operatorship of BHP Minerals Canada Limited. Miramar Hope Bay Limited continued exploration from 2000 to 2007, then Newmont Mining Corporation took over the project and proceeded with advanced exploration until 2011. TMAC Resources Inc. acquired the Hope Bay project in 2013. TMAC developed the Doris deposit beginning in 2015, with a planned mining and processing rate of approximately 2,000 tpd. Commercial production was declared in 2017, and a total of 475,331 ounces of gold were produced at an average grade of 9.56 g/t gold through September 2021. Agnico Eagle acquired TMAC and the Hope Bay project in February 2021 and put the mining operations on care and maintenance in September 2021 to focus on exploration, leading to a renewed and enhanced vision for the project highlighted in this news release.

The property hosts substantial existing infrastructure, including underground mine development at Doris and Boston and exploration ramps at Madrid. Key surface facilities are comprised of a processing plant (now dismantled), a tailings impoundment area, a gravel airstrip at Doris (capable of accommodating Boeing 737 aircraft) and a secondary airstrip at Boston. The site is further supported by an expanded port at Roberts Bay with associated laydown and fuel storage facilities, an all-weather road network, a diesel power generation plant and an office and accommodation complex.

2026 Study Reflects Significant Exploration Results and Project Advancement Since Early 2021

Since acquiring Hope Bay, Agnico Eagle focused its efforts on evaluating the exploration upside at the Doris and Madrid deposits, and initial results from the 2021 exploration program confirmed that both deposits remained open in multiple directions and demonstrated strong potential to materially increase mineral resources and future mineral reserves.

Exploration success continued through subsequent programs. At Doris, underground and surface drilling in 2022 targeted the BTD Connector and BTD Central zones and nearby mineralized areas, delivering additional confidence in mineral resource continuity. At Madrid, surface drilling tested the inflexion structure and depth extensions of known zones, including beneath Patch 7, where drilling intersected high‑grade mineralization in a previously untested area, highlighting significant growth potential.

In 2023 and 2024, exploration focused on Madrid, particularly the Suluk and Patch 7 zones. Step-out drilling identified wide, high-grade gold intercepts within newly defined mineralization in the gap between the Suluk and Patch 7 zones, extending Patch 7 by approximately 500 metres vertically and 900 metres laterally. As at May 19, 2026, the Patch 7 zone hosted 1.0 million ounces of gold in indicated mineral resources (4.7 million tonnes grading 6.78 g/t gold) and 1.7 million ounces of gold in inferred mineral resources (8.0 million tonnes grading 6.57 g/t gold). This success supported the potential for Patch 7 to become a new mining front and a key component of the Hope Bay redevelopment plan. Continued drilling delivered wide, high-grade intercepts at Patch 7 at depths beyond current mineral resources, including one of the deepest intercepts recorded to date, reinforcing confidence in the long-term growth potential of Hope Bay.

Building on the exploration success at Patch 7 and the confirmation of redevelopment potential, the Company has been accelerating upgrades to Hope Bay's surface infrastructure since 2024. Key enhancements included the expansion of camp facilities with the installation of three new camp wings to date (the six wings are expected to be completed by the second half of 2027), which will support up to 810 personnel during the construction phase. Other enhancements include upgrading the port jetty to accommodate the unloading of up to nine vessels during the six‑ to eight‑week sealift season, dismantling of equipment in the existing mill building and advancing site earthworks to support future infrastructure. In parallel, additional construction equipment and service infrastructure have been mobilized and delivered to site, positioning the project for the next phase of redevelopment.

Exploration Success Reinforced Large Mineral Resource Base

The mineral resource estimate for the Hope Bay project has been updated to May 19, 2026, from the previous estimate at year-end 2025. The new mineral resource estimate employs an improved mining concept with updated assumptions to reflect progress in project studies and optimization efforts. In the updated mineral resource estimate that was completed in May 2026, previously declared mineral reserves have been reclassified as mineral resources. These mineral resources are supported by a positive preliminary economic assessment that includes both indicated mineral resources and inferred mineral resources, that was completed in May 2026. As additional conversion drilling in the Patch 7 zone is completed through the remainder of the year, the Company anticipates that a portion of the indicated and inferred mineral resources included in the current study will be converted into probable mineral reserves at year-end 2026.

The mineral resource estimate is based on the Doris database, which was closed on October 13, 2023; the Madrid database, which was closed on August 28, 2025; and the Boston database, which was closed in August 2017. Between August 2025 and the end of April 2026, the Company completed more than 130 diamond drill holes at Madrid and across the broader project area, totalling more than 100,000 metres of drilling, with further drilling currently ongoing. The results from this program, together with planned conversion drilling, are expected to be incorporated into the next mineral reserve and mineral resource estimate to be released at year‑end 2026.

A summary of the mineral resources at Hope Bay as at May 19, 2026, as well as the mineral resource included in the 2026 Study production profile are set out in the table below. Additional details on the Hope Bay mineral reserves and mineral resources as at December 31, 2025, are set out in the Company's news release dated February 12, 2026.

Summary of the Mineral Resource Estimate for the Hope Bay Project, as at May 19, 2026¹

		As at May 19, 2026²			Included in 2026 Study production profile³
Mineral Resource Category	Deposit	Tonnage (Mt)	Gold grade (g/t)	Contained Gold (Moz)	Tonnage (Mt)	Gold grade (g/t)	Contained Gold (Moz)
Measured	Stockpile	0.09	6.77	0.02	0.09	6.77	0.02
Indicated	Doris	3.03	6.25	0.57	1.85	6.63	0.40
	Madrid	23.37	5.58	4.19	13.67	6.27	2.76
	Boston	5.48	5.72	1.01	–	–	–
Total Measured & Indicated		31.97	5.63	5.79	15.62	6.32	3.17
Inferred	Doris	3.12	6.49	0.65	1.49	6.27	0.30
	Madrid	11.36	6.03	2.20	5.71	7.05	1.29
	Boston	2.85	5.14	0.47	–	–	–
Total Inferred		17.33	5.97	3.33	7.21	6.89	1.60

Notes:
1.	Variances in totalled amounts are due to rounding.
2.	The Hope Bay mineral resources as at May 19, 2026, are reported at cut-off grade varying between 3.20 and 3.26 g/t gold. The gold price used in the calculation of the cut-off grade is $2,000 per ounce and the C$/US$ exchange rate is 1.34. Underground measured and indicated mineral resources are reported within mineable shapes and include internal and external dilution. Inferred mineral resources are reported within mineable shapes and include internal dilution. No mining recovery is applied.
3.	The Hope Bay mineral resources used in the 2026 Study are reported at a cut-off grade of 4.28 g/t gold. The gold price used in the calculation of the cut-off grade is $1,600 per ounce and the C$/US$ exchange rate is 1.34. Underground measured, indicated and inferred mineral resources are reported within mineable shapes and include internal and external dilution, and a mining recovery of 92% is applied.

Approximately 66% of the ore (based on contained gold) included in the mine plan is categorized as measured and indicated mineral resources, providing a high geological confidence of the mineable resource and de-risking future production. With only 55% and 48% of the total measured and indicated mineral resources and the total inferred mineral resources, respectively, included in the mine plan, the Hope Bay project shows strong potential to continue to extend and grow its production profile with continued infill drilling and exploration drilling, which the Company expects will lead to further addition of mineral resources during Hope Bay's mine life.

2026 Study Mining and Processing Strategy

The Hope Bay property is a remote, self‑sufficient operation. All power requirements are currently met on site through diesel‑powered generation. The workforce is primarily sourced from Yellowknife, southern Canada and communities in the Western Arctic, including Cambridge Bay, Kugluktuk and surrounding regions, with all personnel transported to the site by air.

The mining strategy for the Hope Bay project is designed to concurrently develop and mine the Doris, Madrid (Madrid North and Naartok zones) and Patch 7 mining fronts, enhancing overall productivity while reducing operational and execution risk. All three mining fronts are expected to be mined using conventional underground mining methods, primarily long-hole open stoping, which is well suited to Hope Bay's sub‑vertical, steeply dipping mineralization hosted in generally competent rock.

Underground access to each mining sector is provided by a main decline ramp. The Doris mine has been developed to a depth of approximately 400 metres, providing access to multiple mineralized zones and positioning the operation for a rapid restart of underground mining activities. At the Madrid mining front, the excavation of an exploration ramp started in November 2024, reaching a depth of approximately 120 metres as of May 19, 2026. At the Patch 7 mining front, preliminary preparations for the portal for the exploration ramp are underway, with underground development expected to commence in the third quarter of 2026. The exploration ramps at both Madrid and Patch 7 are being constructed as permanent infrastructure and have been sized to support anticipated production operations.

At Doris, Madrid and Patch 7, mining will be a mix of transverse mining and longitudinal stoping. At Madrid and Patch 7, sub-level spacing will range from 25 to 30 metres depending on the dip and thickness of the ore zone. At Doris, sub-level spacing will range from 15 to 25 metres depending on the dip and thickness of the ore zone. The mining sequence will advance multiple stoping fronts in a bottom-up configuration. Primary and sill stopes will be backfilled with cemented rockfill, while secondary stopes will be backfilled with waste rock.

The project is expected to use a combination of conventional and automated equipment, similar to that which is currently used at the Company's mines in Nunavut and in the Abitibi region of Quebec and Ontario. The mining plan outlined in the 2026 Study envisions a four‑year development period from 2026 to 2029. Gold production is expected to commence in 2030, with the throughput rate ramping-up to its design capacity of 6,000 tpd in 2032.

The processing plant is expected to employ a conventional milling flowsheet, comprising crushing, grinding, a gravity recovery circuit, flotation, regrinding, and leaching of both flotation concentrates and tailings, followed by detoxification and tailings dewatering. The plant is designed for a throughput capacity of 6,000 tpd with an expected run time of 92% and is expected to achieve an average overall gold recovery of approximately 94.0%. The thickened tailings will be pumped and disposed at the tailings storage facility, located approximately 1.5 kilometres from the processing plant.

Nunavut is a region where the Company believes it has a demonstrated competitive advantage, and the Hope Bay project is expected to benefit from the Company's in-house technical expertise, established local workforce, and regional infrastructure and operating synergies. Agnico Eagle's strong presence in Nunavut, supported by almost 20 years of experience building and operating three mines in the region, is expected to reduce execution risk during both the construction and operating phases of the project.

Permitting and Community Relations

The Hope Bay project has the environmental permits and production lease in place to support construction. Updates to the water license and remaining permits to support the production phase are currently in progress.

The Hope Bay Inuit Impact and Benefit Agreement ("IIBA") between the Company and the KIA has been in place since 2015 and remains effective through 2035. The IIBA provides a comprehensive framework governing exploration, development, operations and closure of the Hope Bay project in accordance with the Nunavut Land Claims Agreement, supporting Inuit participation through employment, training and business opportunities, joint oversight committees and strong environmental stewardship. As the Hope Bay project advances, the Company and the KIA are also working collaboratively to develop a future‑focused framework agreement to address benefits over the longer term, reinforcing a commitment to ongoing dialogue, partnership and collaboration throughout the life of the project, while providing long‑term certainty, financial predictability and sustained benefits for Inuit stakeholders and the Company.

Significant Upside in the Short, Medium and Long Terms through the Exploration Potential

More than 1.6 million metres of drilling have been completed since 1991 at the Hope Bay project. Since Agnico Eagle's acquisition of the Hope Bay project in February 2021, the Company has completed more than 1,239 diamond drill holes totalling 522,634 metres. A summary of the exploration activities at Hope Bay since 1991 is provided in the Appendix of this news release.

The main objectives of the Hope Bay exploration program in 2026 are to convert inferred mineral resources at Patch 7 into indicated mineral resources, to further test the entire Madrid deposit to expand and upgrade mineral resource, and to investigate the mineral potential of the wider property through regional exploration.

The Company expects to spend approximately $43.4 million for 110,000 metres of drilling at Hope Bay in 2026, including $29.0 million for 70,000 metres of expensed drilling and $14.4 million for 40,000 metres of capitalized drilling for mineral resources conversion. The second half of 2026 will see exploration activities testing the depth potential below the currently planned Madrid and Patch 7 mining fronts following newly added deep drilling capacity, as well as targets south of the Patch 7 zone, and at the Boston deposit.

Doris

The Doris deposit is subdivided into multiple gold zones including Connector, West Valley and Central at shallower underground depths and BTD Extension, BTD Connector and BTD Central at greater depths below the dike, as set out in the composite longitudinal section below.

Results from the intensive surface and underground drilling programs in 2021 and 2022 at Doris indicated that the mineralized zones are open in multiple directions with excellent potential to increase mineral resources and future mineral reserves.

[Doris Deposit at Hope Bay – Composite Longitudinal Section]

Madrid

At the Madrid deposit, gold mineralization within the main zones of Naartok, Suluk and Patch 7 is generally hosted in quartz-carbonate stockwork and shear-related veins.

Since 2023, exploration drilling at Hope Bay has mostly centered on the Madrid deposit with a focus on mineral resource expansion and conversion of the Naartok and Suluk zones and, south of Suluk, exploration drilling that led to the discovery of substantial mineralized extensions of the Patch 7 zone.

During the first quarter of 2026 at Madrid, exploration drilling using six surface drill rigs totalled 32,647 metres with work focused on mineral resource conversion and expansion at the Patch 7 and Suluk zones.

Drilling into the Patch 7 zone continued to demonstrate the strong continuity of high-grade mineralization within the zone. Additionally, recent highlights of hole HBM26-420 intersecting 6.8 g/t gold over 11.6 metres at 412 metres depth and hole HBM26-426 intersecting 9.5 g/t gold over 8.6 metres at 423 metres depth demonstrated significant mineralization south of the main Patch 7 zone. This shows that the Patch 7 zone remains fully open for expansion to the south towards the Patch 14 and Wolverine zones.

In deep drilling down-plunge of the main mineralized body at Patch 7, hole HBM25-421 intersected 10.3 g/t gold over 2.8 metres at 932 metres depth and below current inferred mineral resources, further demonstrating the potential to add high-grade mineral resources at depth in Patch 7.

Farther north in the gap between the Suluk and Patch 7 zones, recent highlights included hole HBM26-432 intersecting 11.3 g/t gold over 3.5 metres at 149 metres depth and hole HBM26-437 intersecting 27.7 g/t gold over 2.9 metres at 178 metres depth, demonstrating the strong potential to increase indicated mineral resources at relatively shallow depths in proximity to proposed mining infrastructure.

Selected recent drill intersections from the Madrid deposit are set out in the composite longitudinal section and plan map below and in a table in the Appendix.

[Madrid Deposit at Hope Bay – Composite Longitudinal Section]

[Madrid Deposit at Hope Bay – Plan Map]

Boston

Gold mineralization in the Boston deposit is hosted by mafic and felsic volcanic rocks that are complexly folded and overlain by sedimentary rocks.

Previous exploration drilling below the current mineral resource envelope at Boston has intersected high-grade mineralization as demonstrated by the 2019 exploration drilling program by TMAC that intersected 24.5 g/t gold over 3.5 metres at 430 metres depth in hole TMBBO-19-0001 as well as historical drilling in 2003 by Miramar Hope Bay Limited that intersected 27.9 g/t gold over 8.8 metres at 1,014 metres depth in hole HB-S03-293 (both intersections were previously publicly disclosed, including in the Company's news release dated February 23, 2022). The Company believes that resuming drilling has the potential to add to the mineral resources at Boston.

[Boston Deposit at Hope Bay – Composite Longitudinal Section]

Regional Exploration

The Company is also advancing a substantial regional exploration program that is systematically investigating more than 90 regional targets on the Hope Bay property, comprised of diamond drilling, geological mapping, till sampling, lake sediment surveys and airborne and ground geophysical surveys. In 2026, regional exploration will specifically target the portion of the Hope Bay greenstone belt between Madrid and Boston.

The mineral potential of the Hope Bay greenstone belt is supplemented by the neighbouring under-explored Elu greenstone belt to the east, which Agnico Eagle plans to investigate with an airborne gravity survey this year.

About Agnico Eagle

Further Information

For further information regarding Agnico Eagle, please contact the Investor Relations team at investor.relations@agnicoeagle.com or call (416) 947-1212.

Note Regarding Certain Measures of Performance

This news release discloses certain financial performance measures and ratios, including "total cash costs per ounce", "all-in sustaining costs per ounce", "sustaining capital expenditures", "development capital expenditures", and "minesite costs per tonne" that are not standardized measures under IFRS. These measures may not be comparable to similar measures reported by other gold mining companies.

For a discussion of the composition and usefulness of certain of these non-GAAP measures, see "Note Regarding Certain Measures of Performance" in the Company's Management Discussion & Analysis for the period ended March 31, 2026.

Forward-Looking Non-GAAP Measures

This news release contains information regarding estimated future total cash costs per ounce, all-in sustaining costs per ounce, minesite costs per tonne, development capital expenditures and sustaining capital expenditures. The estimates are based upon the total cash costs per ounce, all-in sustaining costs, minesite costs per tonne, development capital expenditures and sustaining capital expenditures that the Company expects to incur to mine gold the Hope Bay project and do not include certain costs that will vary over time as each project is developed and mined. It is therefore not practicable to reconcile these forward-looking non-GAAP financial measures to the most comparable IFRS Accounting Standards measure.

Forward-Looking Statements

The information in this news release has been prepared as at May 19, 2026. Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could, or may or will occur are forward-looking statements. When used in this news release, the words "achieve", "aim", "anticipate", "could", "estimate", "expect", "forecast", "future", "plan", "possible", "potential", "schedule", "target", "tracking", "will", and similar expressions are intended to identify forward-looking statements. Such statements include, without limitation: the Hope Bay project, including any economic or other parameters included in the 2026 Study, metal production, estimated ore grades, recovery rates, project timelines, drilling targets or results, life of mine estimates, total cash costs per ounce, all-in sustaining costs per ounce, minesite costs per tonne, development capital expenditures, sustaining capital expenditures, other expenses and cash flows, the timing, funding, completion and commissioning thereof and the commencement of production therefrom; the potential for additional gold production at the Hope Bay project, including the potential to reach over 400,000 ounces of gold production annually; the estimated timing and conclusions of the Company's studies and evaluations; the methods by which ore will be extracted or processed; statements concerning other expansion projects, recovery rates, mill throughput, optimization efforts and projected exploration, including costs and other estimates upon which such projections are based; timing and amounts of capital expenditures, other expenditures and other cash needs, and expectations as to the funding thereof; estimates of future mineral reserves, mineral resources, mineral production and sales; the projected development of certain ore deposits, including estimates of exploration, development and production and other capital costs and estimates of the timing of such exploration, development and production or decisions with respect to such exploration, development and production; anticipated cost inflation and its effect on the Hope Bay project's costs and results; estimates of mineral reserves and mineral resources, the effect of drill results on future mineral reserves and mineral resources and the conversion of current mineral resources to mineral reserves; the Company's possessing or ability to obtain the necessary permits and authorizations in connection with its proposed or current exploration, development and mining operations and the anticipated timing thereof; future exploration; the anticipated timing of events with respect to the Hope Bay project; the sufficiency of the Company's cash resources to build the Hope Bay project as currently planned; and anticipated trends with respect to the Company's operations, exploration and the funding thereof. Such statements reflect the Company's views as at the date of this news release and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material factors and assumptions used in the preparation of the forward-looking statements contained herein, which may prove to be incorrect, include, but are not limited to, the assumptions set forth herein and in management's discussion and analysis for the year ended December 31, 2025 (the "2025 MD&A") and the Company's Annual Information Form (the "AIF") for the year ended December 31, 2025 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the year ended December 31, 2025 (the "Form 40-F") filed with the U.S. Securities and Exchange Commission (the "SEC") as well as: that there are no significant disruptions affecting operations; that production, permitting, development, expansion and the ramp-up of operations at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the Company's plans for its mining operations are not changed or amended in a material way; that the relevant metal prices, foreign exchange rates and prices for key mining and construction inputs (including labour and electricity) will be consistent with Agnico Eagle's expectations; that the effect of tariffs or trade disputes will not materially affect the price or availability of the inputs the Company uses at its operations; that Agnico Eagle's current estimates of mineral reserves, mineral resources, mineral grades and metal recovery are accurate; that there are no material delays in the timing for completion of ongoing growth projects; that the Company's current plans to optimize production are successful; that there are no material variations in the current tax and regulatory environment; that governments, the Company or others do not take measures in response to pandemics or other health emergencies or otherwise that, individually or in the aggregate, materially affect the Company's ability to operate its business or its productivity; and that measures taken relating to, or other effects of, pandemics or other health emergencies do not affect the Company's ability to obtain necessary supplies and deliver them to its mine sites. Many factors, known and unknown, could cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, project development, capital expenditures and other costs; foreign exchange rate fluctuations; inflationary pressures; financing of additional capital requirements; cost of exploration and development programs; seismic activity at the Company's operations; mining risks; community protests, including by Indigenous groups; governmental and environmental regulation; the volatility of the Company's stock price; risks associated with the Company's currency, fuel and by-product metal derivative strategies; the current interest rate environment; the potential for major economies to encounter a slowdown in economic activity or a recession; the potential for increased conflict or hostilities in various regions, including Europe, South America and the Middle East; and the extent and manner of communicable diseases or outbreaks, and measures taken by governments, the Company or others to attempt to mitigate the spread thereof may directly or indirectly affect the Company. For a more detailed discussion of such risks and other factors that may affect the Company's ability to achieve the expectations set forth in the forward-looking statements contained in this news release, see the AIF and 2025 MD&A filed on SEDAR+ at www.sedarplus.ca and included in the Form 40-F filed on EDGAR at www.sec.gov, as well as the Company's other filings with the Canadian securities regulators and the SEC. Other than as required by law, the Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Notes to Investors Regarding the Use of Mineral Resources

The mineral reserve and mineral resource estimates contained in this news release have been prepared in accordance with the Canadian Securities Administrators' (the "CSA") National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

The SEC's disclosure requirements and policies for mining properties now more closely align with current industry and global regulatory practices and standards, including NI 43-101; however Canadian issuers that report in the United States using the Multijurisdictional Disclosure System ("MJDS"), such as the Company, may still use NI 43-101 rather than the SEC disclosure requirements when using the SEC's MJDS registration statement and annual report forms. Accordingly, mineral reserve and mineral resource information contained in this news release may not be comparable to similar information disclosed by U.S. companies.

Investors are cautioned that while the SEC recognizes "measured mineral resources", "indicated mineral resources" and "inferred mineral resources", investors should not assume that any part or all of the mineral deposits in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. These terms have a great amount of uncertainty as to their economic and legal feasibility. Accordingly, investors are cautioned not to assume that any "measured mineral resources", "indicated mineral resources" or "inferred mineral resources" that the Company reports in this news release are or will be economically or legally mineable.

Further, "inferred mineral resources" have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that any part or all of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian regulations, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in limited circumstances. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists, or is or will ever be economically or legally mineable.

The mineral reserve and mineral resource data set out in this news release are estimates, and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized. The Company does not include equivalent gold ounces for by-product metals contained in mineral reserves in its calculation of contained ounces. Mineral reserves are not reported as a subset of mineral resources.

Mineral reserves are reported exclusive of mineral resources. Tonnage amounts and contained metal amounts have been rounded to the nearest thousand, so may not aggregate to equal column totals. Mineral reserves are in-situ, taking into account all mining recoveries, before mill or heap leach recoveries. Underground mineral reserves and measured and indicated mineral resources are reported within mineable shapes and include internal and external dilution. Inferred mineral resources are reported within mineable shapes and, unless otherwise noted, include internal dilution. Mineable shape optimization parameters may differ for mineral reserves and mineral resources. Investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is economically or legally mineable.

Scientific and Technical Information

The scientific and technical information contained in this news release relating to operations has been approved by Dominique Girard, Eng., Executive Vice-President & Chief Operating Officer – Nunavut, Quebec & Europe; relating to exploration has been approved by Guy Gosselin, Eng. and P.Geo., Executive Vice-President, Exploration; and relating to mineral reserves and mineral resources has been approved by Dyane Duquette, P.Geo., Vice-President, Mineral Resources Management, each of whom is a "Qualified Person" for the purposes of NI 43-101. The Company does not consider the Hope Bay project to be a "material property" for the purposes of NI 43-101 (as defined above).

APPENDIX A – Exploration History at Hope Bay (1991-Present)

Company	Years	Exploration activity
BHP Minerals Canada Ltd.	1991-1995	Extensive mapping, sampling, geophysical surveys, and 120,000 metres of drilling in 1,261 drill holes. Discovered Boston in 1992, Madrid in 1994 and Doris in 1995.
BHP Minerals Canada Ltd.	1996-1998	Metallurgical testwork, underground bulk sampling (2,340 metres of underground development to 200 metres depth), mineral resource estimation and mining studies. Diamond drilling totalled 75,000 metres.
Miramar Hope Bay Ltd.	2000-2007	Geophysical surveys, till sampling, mapping, and prospecting. Drilling of 382,000 metres in 2,215 holes, plus 9,500 metres in 58 holes under a joint venture. Metallurgical studies, mineral resource/reserve estimates, environmental impact statement, mining studies including a feasibility study in 2003.
Newmont Mining Corporation	2007-2011	Drilling, mapping, sampling, metallurgical test work, mineral resource estimation, environmental and social baseline data collection, prefeasibility study, regional exploration. Diamond drilling exceeding 210,000 metres.
TMAC Resources Inc.	2013-2021	Drilling, metallurgical testwork, mineral resource estimation, environmental and social baseline data collection, prefeasibility study, regional exploration, airborne geophysical surveys. Commercial production was declared at the Doris deposit in June 2017. Diamond drilling for exploration totalled 330,000 metres.
Agnico Eagle Mines Ltd.	2021-present	Drilling (exploration, infill, geotechnical), surface sampling, metallurgical testwork, mineral resource estimation, surface and airborne geophysical surveys, surface mapping. Development of exploration drifts at the Doris and Madrid deposits. Over 560,000 metres of exploration diamond drilling completed to date.

APPPENDIX B – Exploration Details

Madrid and Boston deposits at Hope Bay

Drill hole	Deposit / Zone	From (metres)	To (metres)	Depth of midpoint below surface (metres)	Estimated true width (metres)	Gold grade (g/t) (uncapped)	Gold grade (g/t) (capped)*
HBM25-421	Madrid / Patch 7	1,038.0	1,041.0	932	2.8	10.3	10.3
including		1,040.0	1,041.0	933	0.9	22.7	22.7
HBM26-420	Madrid / Patch 7	519.0	531.0	412	11.6	6.8	6.8
including		520.0	521.0	409	0.9	16.3	16.3
HBM26-423	Madrid / Patch 7	1,047.0	1,051.0	651	3.9	8.0	8.0
HBM26-424	Madrid / Suluk	608.0	621.0	516	6.5	3.1	3.1
HBM26-425	Madrid / Patch 7	440.0	445.0	370	4.9	6.2	6.2
and	Madrid / Patch 7	509.0	512.0	423	2.8	9.9	9.9
HBM26-426	Madrid / Patch 7	431.0	438.0	401	5.7	5.1	5.1
and	Madrid / Patch 7	454.5	465.0	423	8.6	9.5	9.5
HBM26-432	Madrid / Suluk	178.0	185.0	149	3.5	11.3	11.3
including		181.0	182.0	149	0.5	49.7	49.7
and	Madrid / Suluk	193.8	199.0	161	3.3	5.7	5.7
including		193.8	194.5	159	0.5	19.3	19.3
HBM26-435	Madrid / Patch 7	388.0	394.0	346	5.2	6.4	6.4
including		391.7	392.4	347	0.5	20.8	20.8
and	Madrid / Patch 7	427.0	431.0	377	3.6	13.6	13.6
including		427.0	429.0	376	1.8	24.0	24.0
HBM26-437	Madrid / Suluk	203.0	208.0	178	2.9	72.1	27.7
including		203.0	204.0	176	0.6	322.0	100.0
and	Madrid / Suluk	351.0	355.5	302	3.3	12.9	12.9
HBM26-440	Madrid / Patch 7	669.0	675.0	546	5.5	20.6	20.6
including		670.0	671.0	545	0.9	52.5	52.5
& including		672.0	673.0	547	0.9	52.8	52.8
HBM26-444	Madrid / Patch 7	464.0	472.0	436	6.6	27.9	15.1
including		471.0	472.0	439	0.8	203.0	100.0
and	Madrid / Patch 7	550.0	555.1	506	5.0	7.0	7.0
HBM26-446	Madrid / Patch 7	657.5	666.0	548	8.4	35.5	15.7
including		657.5	661.0	548	3.5	81.5	33.5
and including		657.5	658.5	545	1.0	268.0	100.0
HBM26-449A	Madrid / Patch 7	440.0	453.0	408	11.8	3.5	3.5
including		444.0	445.0	408	0.9	11.6	11.6
HBM26-450	Madrid / Patch 7	710.0	716.3	615	6.2	7.0	7.0
including		710.0	711.0	615	1.0	11.1	11.1
HBM26-451	Madrid / Suluk	531.4	535.4	446	3.5	10.8	10.8
including	Madrid / Patch 7	531.4	533.4	446	1.7	19.5	19.5
HBM26-456A	Madrid / Patch 7	604.0	609.0	478	4.1	6.5	6.5
and	Madrid / Patch 7	614.0	621.0	486	6.1	5.1	5.1
MNEGM25-002B	Madrid/ Naartok E	287.0	303.0	227	15.4	5.7	5.7
TMBBO-19-0001**	Boston	454.6	458.1	430	3.5	24.5	24.5
HB-S03-293**	Boston	1,439.8	1,448,5	1,014	8.8	56.6	27.9

* Results from Madrid deposit at Hope Bay use a capping factor of 100 g/t gold.

** Historic holes drilled by previous operators TMAC Resources (hole TMBBO-19-0001) and Miramar Hope Bay Ltd. (hole HB-S03-293) (see news release dated February 23, 2022).

EXPLORATION DRILL COLLAR COORDINATES

Drill hole	UTM East*	UTM North*	Elevation (metres above sea level)	Azimuth (degrees)	Dip (degrees)	Length (metres)
Hope Bay
HBM25-421	434863	7548087	37	50	-80	1,077
HBM26-420	434977	7547860	38	87	-59	819
HBM26-423	434279	7548409	39	65	-50	1,209
HBM26-424	433835	7550043	57	26	-68	969
HBM26-425	435200	7547869	26	87	-60	585
HBM26-426	435200	7547943	26	70	-71	615
HBM26-432	434711	7549521	26	81	-59	411
HBM26-435	435200	7548009	26	92	-68	548
HBM26-437	434711	7549521	26	64	-61	420
HBM26-440	434667	7548622	26	61	-66	773
HBM26-444	435198	7547912	26	74	-74	641
HBM26-446	434667	7548622	26	69	-66	749
HBM26-449A	435198	7547912	26	77	-70	609
HBM26-450	434673	7548739	26	74	-72	798
HBM26-451	434438	7549828	26	81	-66	642
HBM26-456A	434668	7548622	26	65	-62	735
MNEGM25-002B	433286	7550750	46	90	-61	381
TMBBO-19-0001	441302	7504678	78	270	-70	1,025
HB-S03-293	441773	7504636	69	274	-76	1,615

* Coordinate System: NAD 1983 UTM Zone 13N for Hope Bay.

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SOURCE Agnico Eagle Mines Limited

AGNICO EAGLE ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

Mon, 04 May 2026 08:30:00 -0400

(All amounts expressed in U.S. dollars unless otherwise noted)

TORONTO, May 4, 2026 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that further to its news release dated April 30, 2026, it has received approval from the Toronto Stock Exchange (the "TSX") of Agnico Eagle's notice of intention to renew its normal course issuer bid (the "NCIB").

Under the NCIB, Agnico Eagle may purchase for cancellation, on the open market at its discretion, during the period commencing on May 6, 2026 and ending on the earlier of May 5, 2027 and the completion of purchases under the NCIB, up to the lesser of: (i) 25,024,469 common shares of Agnico Eagle ("Common Shares"), which is 5% of the issued and outstanding Common Shares; and (ii) that number of Common Shares that can be purchased by Agnico Eagle under the NCIB for an aggregate purchase price, excluding commissions, of not more than $2,000,000,000, subject to the normal terms and limitations of such bids. Based on the closing share price of $188.21 on April 30, 2026, 10,626,428 Common Shares would be purchasable under the NCIB, representing approximately 2.12% of the issued and outstanding Common Shares as of April 30, 2026. As of April 30, 2026, Agnico Eagle had 500,489,369 issued and outstanding Common Shares.

Daily purchases on the TSX under the NCIB will be limited to 264,928 Common Shares, other than purchases made pursuant to the block purchase exception, which represents 25% of the average daily trading volume of 1,059,711 on the TSX for six months ending March 31, 2026. The actual number of Common Shares which may be purchased under the NCIB and the timing of any such purchases will be determined by the management of Agnico Eagle, subject to applicable law and the rules of the TSX. Purchases under the NCIB are expected to be made through the facilities of the TSX, the New York Stock Exchange and alternative trading systems in Canada or the United States, at prevailing market prices. The NCIB will be funded using Agnico Eagle's existing cash resources, and any Common Shares repurchased by Agnico Eagle under the NCIB will be cancelled.

Agnico Eagle believes that its NCIB is a flexible and complementary tool that, together with its quarterly dividend, is part of Agnico Eagle's overall capital allocation program and generates value for shareholders. Decisions regarding any future repurchases will depend on certain factors, including market conditions and share price. Agnico Eagle may elect to suspend or discontinue share repurchases at any time, in accordance with applicable laws.

Agnico Eagle has established an automatic share purchase plan in connection with its NCIB to facilitate the purchase of Common Shares during times when Agnico Eagle would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions or self-imposed black-out periods. Before entering a black-out period, Agnico Eagle may, but is not required to, instruct the broker to make purchases under the NCIB based on parameters set by Agnico Eagle in accordance with the share purchase plan, TSX rules and applicable securities laws. The plan has been pre-cleared by the TSX and will be effective May 10, 2026.

Under Agnico Eagle's prior NCIB, which commenced on May 4, 2025 and ended on May 3, 2026, Agnico Eagle obtained approval to purchase up to a total of 25,174,240 Common Shares, of which 4,472,799 Common Shares were purchased through the facilities of the TSX and the New York Stock Exchange at a weighted-average price of approximately $162.8272 (excluding commissions) per Common Share.

About Agnico Eagle

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. Agnico Eagle is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

Forward-Looking Statements

The information in this news release has been prepared as at May 4, 2026. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws. These forward-looking statements can be identified by the use of words such as "believes", "expected", "may", "will" or similar terms. In particular, such forward-looking statements include, but are not limited to, statements relating to Agnico Eagle's intention to commence the NCIB and the timing, methods and quantity of any purchases of Common Shares under the NCIB, the availability of cash for repurchases of Common Shares under the NCIB, compliance with applicable laws and regulations pertaining to the NCIB, Agnico Eagle's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These assumptions include, but are not limited to, the following assumptions made as at the date of this news release: that there are no significant disruptions affecting operations; that production, permitting, development, expansion and the ramp up of operations at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the relevant metal prices, foreign exchange rates and prices for key mining and construction supplies will be consistent with Agnico Eagle's expectations; the availability and sources of capital; operating costs, ongoing utilization and future expansions, the ability to reach required commercial agreements, and the ability to obtain required regulatory approvals; and that there are no material variations in the current tax and regulatory environment.

Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by the forward-looking statements included in this news release. These risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of future production, project development, capital expenditures and other costs; foreign exchange rate fluctuations; financing of additional capital requirements; mining risks; community protests, including by First Nations groups; governmental and environmental regulation; the behavior of the financial markets, including the volatility of Agnico Eagle's stock price; and certain other risks set out in Agnico Eagle's public disclosure documents. For a more detailed discussion of such risks and other factors that may affect Agnico Eagle's ability to achieve the expectations set forth in the forward-looking statements contained in this news release, see Agnico Eagle's Annual Information Form and management's discussion and analysis for the year ended December 31, 2025, each filed on SEDAR+ at www.sedarplus.ca and included in the Annual Report on Form 40-F for the year ended December 31, 2025, which is filed on EDGAR at www.sec.gov, as well as Agnico Eagle's other filings with the Canadian securities regulators and the US Securities and Exchange Commission.

Readers are cautioned not to place undue reliance on a forward-looking statements, which speak only as of the date made. Other than as required by law, Agnico Eagle does not intend, and does not assume any obligation, to update these forward-looking statements.

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AGNICO EAGLE ANNOUNCES ELECTION OF DIRECTORS

Fri, 01 May 2026 18:26:00 -0400

TORONTO, May 1, 2026 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") today announced that, at the annual and special meeting of shareholders held on May 1, 2026, the eleven candidates listed in the management information circular dated March 19, 2026 were duly elected as directors of Agnico Eagle.

Detailed results of the vote are set out below:

Nominee	Votes For	Votes Withheld	Total Votes Cast	Percentage of Votes For	Percentage of Votes Withheld
Leona Aglukkaq	376,559,887	3,993,239	380,553,126	98.95 %	1.05 %
Ammar Al-Joundi	373,674,892	6,878,232	380,553,124	98.19 %	1.81 %
Sean Boyd	357,792,066	22,761,060	380,553,126	94.02 %	5.98 %
Martine A. Celej	370,994,353	9,558,772	380,553,125	97.49 %	2.51 %
Jonathan Gill	379,925,013	628,112	380,553,125	99.83 %	0.17 %
Peter Grosskopf	363,585,926	16,967,200	380,553,126	95.54 %	4.46 %
Elizabeth Lewis-Gray	380,131,083	422,042	380,553,125	99.89 %	0.11 %
Deborah McCombe	374,077,284	6,475,841	380,553,125	98.30 %	1.70 %
Jeffrey Parr	371,811,784	8,741,342	380,553,126	97.70 %	2.30 %
J. Merfyn Roberts	365,892,748	14,660,378	380,553,126	96.15 %	3.85 %
Jamie C. Sokalsky	368,901,770	11,651,356	380,553,126	96.94 %	3.06 %

Biographical information on all directors is available at www.agnicoeagle.com.

About Agnico Eagle

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SOURCE Agnico Eagle Mines Limited

AGNICO EAGLE REPORTS FIRST QUARTER 2026 RESULTS, INCLUDING RECORD QUARTERLY OPERATING MARGINS AND ADJUSTED NET INCOME

Thu, 30 Apr 2026 17:00:00 -0400

Stock Symbol: AEM (NYSE and TSX)

(All amounts expressed in U.S. dollars unless otherwise noted)

TORONTO, April 30, 2026 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") today reported financial and operating results for the first quarter of 2026.

"We delivered a solid start to 2026, achieving record operating margins while production and costs tracked well to plan. With gold production expected to be weighted to a stronger second half of the year, we are managing cost volatility through disciplined execution and asset optimization, supported by our regional operating model. This positions us well to deliver on our full year guidance," said Ammar Al-Joundi, Agnico Eagle's President and Chief Executive Officer. "We are excited by the strong progress across our industry leading growth pipeline and are beginning to look beyond the 20–30% production growth already expected over the next decade, with our recently announced proposed acquisitions in Finland marking a milestone in our next phase of long-term growth. At the same time, we remain committed to returning value to shareholders, through our dividend and the expansion of our share repurchase program."

First quarter 2026 highlights:

Solid quarterly performance, in line with plan – Payable gold production¹ was 825,109 ounces, representing approximately 24% of the mid-point of the full year production guidance, at production costs per ounce of $1,158, total cash costs per ounce² of $1,093 and all-in sustaining costs ("AISC") per ounce² of $1,483. The solid operating performance was led by Detour Lake, Canadian Malartic and Fosterville
Record quarterly operating margins and adjusted net income – Solid production, combined with higher realized gold prices of $4,861 per ounce in the first quarter, resulted in record operating margins and adjusted net income. The Company reported quarterly net income of $1,695 million or $3.39 per share and record adjusted net income³ of $1,706 million or $3.41 per share. The Company generated cash provided by operating activities of $1,346 million or $2.69 per share and free cash flow³ of $732 million or $1.46 per share, which included the impact of a $1.3 billion payment for the remaining cash tax liability related to the 2025 taxation year. Total cash taxes paid in the first quarter were $1.8 billion, approximately 50% of the expected cash taxes for 2026
Financial strength continues to grow through robust cash generation – The Company increased its cash balance by $246 million to $3,112 million as at March 31, 2026, resulting in a net cash⁴ position of $2,915 million with total debt outstanding of $197 million as at March 31, 2026. Reflecting this strong financial profile, Fitch Ratings upgraded the Company's long-term issuer default rating from BBB+ to A‑ in April 2026
Annual gold production and cost guidance reiterated – Full year expected payable gold production in 2026 remains unchanged at 3.3 to 3.5 million ounces, with production now weighted approximately 48% to the first half of the year and 52% to the second half. Full year total cash costs per ounce and AISC per ounce in 2026 remain unchanged at $1,020 to $1,120 and $1,400 to $1,550, respectively. While the Company is subject to cost uncertainty, including fuel price volatility as a result of ongoing geopolitical events, the Company's regional operating strategy, focused on local procurement and resilient supply chains, is expected to mitigate potential cost impacts. Further details are set out in the 2026 Guidance Summary section below
Continued commitment to shareholder returns and expected renewal and increase of NCIB – The Company returned a total of $375 million to shareholders during the first quarter of 2026, including the declaration of a quarterly dividend of $0.45 per share and the repurchase of 721,211 common shares under its normal course issuer bid ("NCIB"). Share repurchases were completed at an average price of $207.68 per share for total consideration of $150 million. As previously disclosed, the Company intends to seek approval from the TSX to renew the NCIB for another year on substantially the same terms, with an increase to its internal limit on purchases of common shares to $2 billion. Additional details will be provided at the time of the renewal
2025 Sustainability Report published – The Company released its 17^th annual Sustainability Report on April 30, 2026, demonstrating its commitment to operating in a safe, sustainable and environmentally responsible manner
Update on key value drivers and pipeline projects in the first quarter of 2026

- Canadian Malartic – Production from the East Gouldie ramp commenced in March 2026. The development and construction activities continued to progress on schedule, with the main ramp and shaft #1 reaching a depth of 1,151 metres and 1,514 metres, respectively. Construction of the first loading station is on schedule for first production through shaft #1 in the second quarter of 2027. Exploration drilling continued to yield positive results in multiple areas of the Odyssey mine, including 6.7 grams per tonne ("g/t") gold over 36.0 metres at 1,089 metres depth in the upper eastern portion of the East Gouldie deposit and 9.0 g/t gold over 53.5 metres (core length) at 1,067 metres depth in the internal zones of the Odyssey deposit
- Detour Lake – Development activities for the underground project continued, with the exploration ramp reaching a depth of 147 metres and overburden removal commencing for the conveyor‑ramp portal. High-intensity drilling from surface near the exploration ramp was initiated, with a highlight intercept of 8.9 g/t gold over 14.1 metres at 187 metres depth. Drilling into the West Extension zone had highlights of 10.7 g/t gold over 10.1 metres at 497 metres depth, approximately 1.5 kilometres west of the resource-pit outline, and 10.0 g/t gold over 3.1 metres at 922 metres depth, approximately 2.5 kilometres west of the resource-pit outline
- Upper Beaver – Development of the exploration ramp and shaft continued to advance ahead of schedule, reaching depths of 108 metres and 382 metres, respectively. During the quarter, the Company initiated a high‑intensity drilling program targeting a portion of the Upper Beaver deposit between approximately 500 and 600 metres depth, characterized by intrusion‑suite host rocks, to complement the bulk sample planned at the 760 level
- Hope Bay – Project activities focused on site preparedness for a potential redevelopment, including the addition of a new third wing to the camp, substantial completion of the internal technical evaluation, including advancement of detailed engineering to approximately 55%, and planning for the 2026 sealift season. A construction decision at Hope Bay is expected in May 2026
- San Nicolás – Minas de San Nicolás, which has the potential for base metal production in Mexico, continued to advance engineering and execution strategy, targeting completion of 50% of the engineering by mid-year 2026. Drilling activities progressed with a focus on condemnation drilling and geological evaluation in proximity to the projected mine area
Proposed consolidation of Finland's Central Lapland Greenstone Belt ("CLGB") in three separate transactions – On April 20, 2026, the Company announced a comprehensive consolidation of properties in the CLGB of Northern Finland through the proposed acquisitions of Rupert Resources Ltd. ("Rupert") and Aurion Resources Ltd. ("Aurion") and the acquisition of the 70% interest in Fingold Ventures Ltd. held by B2Gold Corp ("B2Gold"). The Company expects the Rupert and Aurion transactions to be completed late in the second quarter of 2026. The transaction with B2Gold was completed in April 2026
- Through these transactions, the Company expects to build another multi-asset, multi-decade regional platform within its portfolio, create significant value at the Ikkari gold project by leveraging over 20 years of regional experience and unlock multi-layered exploration potential across the consolidated 2,492 km² land package
- It establishes a pathway to transform its Finland platform into an approximately 500,000‑ounce‑per‑year gold production hub within the next decade, and contribute beyond the 20-30% Company‑wide production growth over that period
- The Company will evaluate opportunities to reduce dilution associated with the Rupert transaction, including potentially returning the proceeds of portfolio investment sales to shareholders through share repurchases under the NCIB

______________________________________

² Total cash costs per ounce and all-in sustaining costs per ounce (or AISC per ounce) are non-GAAP measures that are not standardized financial measures under IFRS® Accounting Standards and in this news release, unless otherwise specified, are reported on (i) a per ounce of gold production basis, and (ii) a by-product basis. For reconciliations of each of these non-GAAP measures to production costs on both a by-product and a co-product basis and a description of their composition and usefulness, see "Note Regarding Certain Measures of Performance" below.

³ Adjusted net income, free cash flow and where applicable, their related per share measures are non-GAAP measures that are not standardized financial measures under IFRS Accounting Standards. For a description of the composition and usefulness of these non-GAAP measures and a reconciliation to the most comparable measure prepared in accordance with IFRS Accounting Standards, see "Note Regarding Certain Measures of Performance" below.

⁴ Net cash is a non-GAAP measure that is not a standardized financial measure under IFRS Accounting Standards. For a description of the composition and usefulness of this non-GAAP measure and a reconciliation to the most comparable measure prepared in accordance with IFRS Accounting Standards, see "Note Regarding Certain Measures of Performance" below.

First Quarter 2026 Results Conference Call and Webcast Tomorrow

The Company's senior management will host a conference call on Friday, May 1, 2026, at 8:30 AM (E.D.T.) to discuss the Company's financial and operating results.

Via Webcast:

To listen to the live webcast of the conference call, you may register on the Company's website at www.agnicoeagle.com, or directly via the link here.

Via Phone:

To join the conference call by phone without operator assistance, you may register your phone number here 30 minutes prior to the scheduled start of the call to receive an automated call back.

Replay Archive:

Please dial 289-819-1450 or toll-free 1-888-660-6345, access code 72715#. The conference call replay will expire on June 1, 2026.

The webcast, along with presentation slides, will be archived for 180 days on the Company's website.

Annual Meeting

The Company will host its Annual and Special Meeting of Shareholders (the "AGM") on Friday, May 1, 2026 at 11:00 AM (E.D.T). During the AGM, management will provide an overview of the Company's activities.

The AGM will be held in person at Arcadian Court, 401 Bay Street, Simpson Tower, 8th Floor, Toronto, Ontario, M5H 2Y4 and online at: https://meetnow.global/M59UWL4.

For details explaining how to attend, communicate and vote virtually at the AGM see the Company's Management Information Circular dated March 19, 2026, filed under the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Shareholders who have questions about voting their shares or attending the AGM may contact Investor Relations by phone at 416-947-1212, by toll-free phone at 1-888-822-6714 or by email at investor.relations@agnicoeagle.com or may contact the Company's strategic shareholder advisor and proxy solicitation agent, Laurel Hill Advisory Group, by calling 1-877-452-7184 (toll-free in Canada and the United States) or 1-416-304-0211 (International), by texting "INFO" to either number, or by e-mail at assistance@laurelhill.com.

First Quarter 2026 Production and Costs

Production and Cost Results Summary
	Three Months Ended March 31,
	2026	2025*
Gold production** (ounces)	825,109	873,794
Gold sales (ounces)***	829,651	842,965
Production costs per ounce	$ 1,158	$ 879
Total cash costs per ounce	$ 1,093	$ 895
AISC per ounce	$ 1,483	$ 1,175

*	Total cash costs per ounce and AISC per ounce for the three months ended March 31, 2025 have been restated using the Company's revised composition for periods commencing on or after January 1, 2026. Using the Company's composition of this measure for periods ending on or prior to December 31, 2025, total cash costs per ounce were $903 for the consolidated Company and AISC per ounce was $1,183 for the consolidated Company.
**	Gold production for the three months ended March 31, 2026 excludes payable gold production at La India and Creston Mascota of 418 and 76 ounces, respectively, which were produced from residual leaching. Gold production for the three months ended March 31, 2025 excludes payable gold production at La India and Creston Mascota of 1,811 ounces and 25 ounces, respectively, which were producing from residual leaching.
***	Payable metals sold at Canadian Malartic, Detour Lake and Macassa exclude the in-kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines. For the three months ended March 31, 2025, payable metals sold excludes 2,500 payable gold ounces sold at La India.

Gold Production

Gold production decreased in the first quarter of 2026 when compared to the prior-year period primarily due to lower production at Macassa and Meadowbank (lower grades), partially offset by higher production at Detour Lake (higher grades and recoveries).

Production Costs per Ounce

Production costs per ounce increased in the first quarter of 2026 when compared to the prior-year period primarily due to higher royalty costs resulting from higher gold prices, lower gold production and the impact of a stronger Canadian dollar relative to the U.S. dollar between periods.

Total Cash Costs per Ounce

Total cash costs per ounce increased in the first quarter of 2026 when compared to the prior-year period primarily due to the reasons described above for the increase in production costs per ounce.

AISC per Ounce

AISC per ounce increased in the first quarter of 2026 when compared to the prior-year period due to the reasons described above for the increase in total cash costs per ounce, higher sustaining capital expenditures, primarily at Macassa and Fosterville, higher non-cash reclamation related costs and higher general and administrative expenses.

Refer to the Company's Management Discussion & Analysis for the first quarter of 2026 (the "MD&A") under the caption "Financial and Operating Results" for additional variance analysis on gold production, production costs, minesite costs per tonne and total cash costs per ounce compared to the prior-year period.

First Quarter 2026 Financial Results

Financial Results Summary
	Three Months Ended March 31,
	2026	2025
Realized gold price (per ounce)⁵	$ 4,861	$ 2,891
Net income (millions)	$ 1,695	$ 815
Adjusted net income (millions)	$ 1,706	$ 770
EBITDA (millions)⁶	$ 2,996	$ 1,634
Adjusted EBITDA (millions)⁶	$ 3,011	$ 1,590
Cash provided by operating activities (millions)	$ 1,346	$ 1,044
Cash provided by operating activities before changes in non-cash components of working capital (millions)⁶	$ 2,231	$ 1,209
Capital expenditures* (millions)⁶	$ 574	$ 419
Free cash flow (millions)	$ 732	$ 594
Free cash flow before changes in non-cash components of working capital (millions)⁶	$ 1,618	$ 759

Net income per share (basic)	$ 3.39	$ 1.62
Adjusted net income per share (basic)	$ 3.41	$ 1.53
Cash provided by operating activities per share (basic)	$ 2.69	$ 2.08
Cash provided by operating activities before changes in non-cash components of working capital per share (basic)	$ 4.46	$ 2.41
Free cash flow per share (basic)	$ 1.46	$ 1.18
Free cash flow before changes in non-cash components of working capital per share (basic)	$ 3.23	$ 1.51

*Includes capitalized exploration

_________________________

⁵ Realized gold price is calculated as gold revenues from mining operations divided by the number of ounces sold.

⁶ "EBITDA" means earnings before interest, taxes, depreciation, and amortization. EBITDA, adjusted EBITDA, capital expenditures, cash provided by operating activities before changes in non-cash components of working capital and free cash flow before changes in non-cash components of working capital and, where applicable, their related per share measures, are non-GAAP measures that are not standardized measures under IFRS Accounting Standards. For a description of the composition and usefulness of these non-GAAP measures and a reconciliation to the most comparable measure prepared in accordance with IFRS Accounting Standards, see "Note Regarding Certain Measures of Performance" below.

Net Income

Net income increased in the first quarter of 2026 when compared to the prior-year period primarily due to record operating margins resulting from higher realized gold prices, partially offset by lower gold sales and higher income and mining taxes.

Net income in the first quarter of 2026 of $1,695 million ($3.39 per share) includes the following items (net of tax): reclamation adjustments of $9 million ($0.02 per share), net gains on derivative financial instruments of $7 million ($0.01 per share), net asset disposal losses of $7 million ($0.01 per share), foreign currency translation losses on deferred tax liabilities of $5 million ($0.01 per share) and other adjustments totaling $3 million ($0.01 per share). Excluding these items results in adjusted net income of $1,706 million or $3.41 per share for the first quarter of 2026.

Adjusted EBITDA

Adjusted EBITDA increased in the first quarter of 2026 when compared to the prior-year period primarily due to higher revenues from mining operations (higher realized gold prices partially offset by lower gold sales), partially offset by higher production costs (higher royalty costs), higher general and administrative expenses and the impact of a stronger Canadian dollar relative to the U.S. dollar between periods.

Cash Provided by Operating Activities

Cash provided by operating activities and cash provided by operating activities before changes in non-cash components of working capital both increased in the first quarter of 2026 when compared to the prior-year period primarily due to higher operating margins, partially offset by lower gold sales and higher income and mining taxes. Cash provided by operating activities was reduced by unfavourable changes in non-cash working capital balances primarily due to approximately $1.3 billion in cash taxes paid in the quarter relating to the 2025 taxation year. Total cash taxes paid in the first quarter of 2026 were $1.8 billion, representing approximately 50% of the expected cash taxes for 2026.

Free Cash Flow

Free cash flow and free cash flow before changes in non-cash components of working capital both increased in the first quarter of 2026 when compared to the prior-year period primarily due to the reasons described above related to cash provided by operating activities, partially offset by higher development capital expenditures related to Odyssey, Hope Bay and Detour Lake underground pipeline projects.

Capital Expenditures

Summary of Capital Expenditures
(thousands)	Three Months Ended
	Mar 31, 2026
	Capital Expenditures*	Capitalized Exploration
Sustaining Capital Expenditures**
LaRonde	$ 15,661	$ 1,232
Canadian Malartic	22,761	987
Goldex	10,105	200
Quebec	48,527	2,419
Detour Lake	42,531	--
Macassa	19,545	827
Ontario	62,076	827
Meliadine	16,310	1,425
Meadowbank	23,155	--
Nunavut	39,465	1,425
Fosterville	22,540	496
Australia	22,540	496
Kittila	13,167	982
Finland	13,167	982
Pinos Altos	8,756	211
Mexico	8,756	211
Other	2,061	(973)
Total Sustaining Capital Expenditures	$ 196,592	$ 5,387

Development Capital Expenditures**
LaRonde	$ 20,397	$ --
Canadian Malartic	85,092	7,519
Goldex	6,080	1,997
Quebec	111,569	9,516
Detour Lake	73,444	6,621
Detour Lake underground	4,266	12,274
Macassa	24,510	8,819
Upper Beaver	7,316	16,595
Ontario	109,536	44,309
Meliadine	18,374	4,181
Meadowbank	9,174	22
Hope Bay	31,764	13,834
Nunavut	59,312	18,037
Fosterville	4,314	3,477
Australia	4,314	3,477
Kittila	946	2,600
Finland	946	2,600
Pinos Altos	1,821	11
San Nicolás (50%)	1,326	1,391
Mexico	3,147	1,402
Other	3,466	--
Total Development Capital Expenditures	$ 292,290	$ 79,341
Total Capital Expenditures	$ 488,882	$ 84,728

Excludes capitalized exploration

Sustaining capital expenditures and development capital expenditure are non-GAAP measures that are not standardized measures under IFRS Accounting Standards. For a description of the composition and usefulness of these non-GAAP measures and a reconciliation to the most comparable measure prepared in accordance with IFRS Accounting Standards, see "Note Regarding Certain Measures of Performance" below.

2026 Guidance Reiterated

In the first three months of 2026, the Company achieved approximately 24% of the mid-point of its full year gold production guidance, while achieving total cash costs per ounce and AISC per ounce within the guidance range. Based on these results, the Company is reiterating its guidance for the full year 2026. Full year expected payable gold production in 2026 at 3.3 to 3.5 million ounces is now weighted approximately 48% to the first half of the year and 52% to the second half.

A summary of the Company's guidance is set out below.

2026 Guidance Summary
($ millions, unless otherwise stated)
	2026		2026
	Guidance Range		Mid-Point
Gold production (thousands of ounces)	3,300	3,500	3,400
Total cash costs per ounce⁷	$ 1,020	$ 1,120	$ 1,070
AISC per ounce⁷	$ 1,400	$ 1,550	$ 1,475

Capital expenditures⁷ (excluding capitalized exploration)	$ 2,175	$ 2,395	$ 2,285
Capitalized exploration	$ 290	$ 330	$ 310
Capital expenditures (including capitalized exploration)	$ 2,465	$ 2,725	$ 2,595

Exploration and corporate development*	$ 275	$ 305	$ 290
Depreciation and amortization expense	$ 1,550	$ 1,750	$ 1,650
General and administrative expense**	$ 230	$ 260	$ 245
Other costs***	$ 75	$ 95	$ 85
NTI Payment⁸	$ 185	$ 195	$ 190
Cash taxes	$ 3,400	$ 3,600	$ 3,500
Effective tax rate (%)	34 %	36 %	35 %

*	2026 Guidance includes $185 million to $205 million related to exploration and $90 million to $100 million related to corporate development
**	2026 Guidance includes share-based compensation, expected to be between $65 million and $75 million. General and administrative expense is expected to fluctuate based on changes in the Company's share price, which affect the costs related to stock-based compensation.
***	2026 Guidance includes $35 million to $45 million related to site maintenance costs primarily at Hope Bay and Northern Territory in Australia and $40 million to $50 million related to remediation expenses and other miscellaneous costs

_____________________________

⁷ The Company's guidance for total cash costs per ounce, AISC per ounce and capital expenditures is forward-looking non-GAAP information. For a description of the composition and usefulness of these non-GAAP measures and a discussion of revisions that have been made by the Company to the composition of certain of these measures, see "Note Regarding Certain Measures of Performance" below.

⁸ The "NTI Payment" is the payment to Nunavut Tunngavik Inc. ("NTI") under the Company's mineral production lease in respect of the Amaruq mine at Meadowbank, which is a royalty based on net profits, subject to a minimum profit margin. NTI Payments in this table are reflected on a cash basis with 2026 Guidance based on a gold price assumption of $4,500 per ounce.

Cash Taxes

The Company's effective tax rate continues to be expected to be approximately 34% to 36% for the full year of 2026. Total cash taxes paid in the first quarter of 2026 were $1.8 billion, which included a $1.3 billion payment for the remaining cash tax liability for 2025. This represents approximately 50% of total cash taxes expected for 2026. The remaining cash taxes in 2026 are expected to be paid in quarterly installments ranging between $525 million and $575 million.

Cost Considerations Related to Current Market Uncertainty

While the ongoing conflict in the Middle East introduces uncertainty related to fuel price volatility and the global supply chain, the Company currently anticipates that volatility of fuel and commodity prices and currency exchange rates will be captured within the total cash costs per ounce and AISC per ounce guidance ranges of $1,020 to $1,120 and $1,400 to $1,550, respectively. Supported by the Company's regional operating strategy, with a focus on local procurement and resilient supply chains, the Company does not currently anticipate any significant risk of disruption to fuel, consumables or parts supplies across its operations. While higher transportation and freight costs are expected to persist amid ongoing uncertainty, the Company continues to actively monitor the situation for any potential impacts.

The Company's full year 2026 cost guidance is based on an assumed diesel benchmark price of $0.78 per litre (excluding transportation and taxes). Including the diesel purchased for the Company's Nunavut operations that was delivered as part of the 2025 sealift, approximately 54% of the Company's total estimated diesel exposure for 2026 is hedged at an average benchmark price of $0.71 per litre (excluding transportation and taxes), which is expected to reduce the Company's exposure to diesel price volatility for the balance of 2026.

Diesel represents approximately 10% of the Company's operating costs, comprising approximately 7% related to direct consumption for mobile equipment and on-site power generation, and approximately 3% related to transportation and freight. With respect to direct diesel consumption, the Company estimates that a 10% change in diesel prices would impact total cash costs per ounce by approximately $4 on a net basis after hedges (approximately $8 excluding the impact of diesel hedges) for the full year 2026. For indirect diesel exposure related to transportation, a 10% change in diesel prices is estimated to impact total cash costs per ounce by approximately $2 net of the fuel sealift to Nunavut.

Currency Hedges

The Company's full year 2026 cost guidance is based on assumed exchange rates of 1.36 C$/US$, 1.18 US$/EUR, 1.40 A$/US$ and 17.50 MXN/US$.

Based on its C$/US$ assumption for 2026 cost estimates, the Company has hedged approximately 42% of its estimated remaining Canadian dollar exposure for 2026 at an average floor price providing protection in respect of exchange rate movements below 1.38 C$/US$, while allowing for participation in respect of exchange rate movements up to an average of 1.42 C$/US$.

The Company will continue to monitor market conditions and anticipates continuing to opportunistically add to its operating currency and diesel hedges to strategically support its key input costs for 2026.

Tariffs

The international trade disputes set in motion in February 2025 by US tariffs, retaliatory tariffs and other actions remain fluid. The Company continues to believe that its revenue structure will be largely unaffected by the tariffs as its gold production is mostly refined in Canada, Australia or Europe. The Company continues to monitor its exposure to the tariffs and trade disputes and its alternatives to inputs sourced from suppliers that are or may become subject to the tariffs or other trade disputes. The cost guidance provided in this news release does not include any potential impact from such tariffs or trade disputes.

Balance Sheet Strength Supported by Strong Net Cash Position; Continued Commitment to Shareholder Returns

Cash and cash equivalents increased by $246 million from the prior quarter, primarily due to cash provided by operating activities resulting from record operating margins (higher realized gold prices partially offset by higher royalty costs). The increase was partially offset by unfavourable changes in non-cash components of working capital (including an approximately $1.3 billion payment of cash taxes related to the 2025 taxation year), $614 million of capital expenditures including working capital adjustments and $375 million returned to shareholders during the quarter through dividends and share repurchases under the NCIB.

As at March 31, 2026, the Company's total long-term debt was $197 million, consistent with the prior quarter. No amounts were outstanding under the Company's unsecured revolving bank credit facility as at March 31, 2026 and available liquidity under the facility remained at approximately $2 billion, not including the uncommitted $1 billion accordion feature.

Net cash increased to $2,915 million in the first quarter of 2026 compared to the prior quarter balance of $2,670 million due to the increase in cash and cash equivalents of $246 million. See "Note Regarding Certain Measures of Performance" below for the calculation of net cash.

On April 29, 2026, Fitch Ratings upgraded the Company's investment grade credit rating to A- with a Stable Outlook, reflecting the Company's strong operating profile, favorable low cost position and sustained commitment to a strengthening balance sheet. The Company strives to maintain a strong financial position and an investment grade balance sheet.

Shareholder Returns

The Company will evaluate opportunities to reduce the dilution associated with the Rupert transaction, including potentially returning the proceeds of portfolio investment sales to shareholders through share repurchases under the NCIB.

Normal Course Issuer Bid

In the first quarter of 2026, the Company repurchased 721,211 common shares under the NCIB at an average price of $207.68 per share for aggregate purchases of $150 million.

The Company believes that its NCIB is a flexible and effective complementary tool that, together with the quarterly dividend, is part of the Company's overall capital allocation program and generates value for shareholders. Under the NCIB, the Company may purchase a maximum of 5% of the issued and outstanding common shares, subject to maximum authorized purchases of $1 billion. Purchases under the NCIB may continue for up to one year from its commencement on May 4, 2025.

The Company intends to seek approval from the TSX to renew the NCIB for another year in May 2026 on substantially the same terms; but intends to increase its internal limit on purchases of common shares to $2 billion. Additional details will be provided at the time of the renewal.

Dividend Record and Payment Dates for the Second Quarter of 2026

The Company's Board of Directors has declared a quarterly cash dividend of $0.45 per common share, payable on June 15, 2026 to shareholders of record as of June 1, 2026. Agnico Eagle has declared a cash dividend every year since 1983.

Expected Dividend Record and Payment Dates for the 2026 Fiscal Year

Record Date	Payment Date
March 2, 2026*	March 16, 2026*
June 1, 2026**	June 15, 2026**
September 1, 2026	September 15, 2026
December 1, 2026	December 15, 2026

* Paid
** Declared

Dividend Reinvestment Plan

For information on the Company's dividend reinvestment plan, see Dividend Reinvestment Plan.

International Dividend Currency Exchange

Committed to Sustainability

17 ^th Annual Sustainability Report for 2025 Released

The Company released its 2025 Sustainability Report (the "Report") on April 30, 2026, providing an overview of the Company's strategy, practices and risk management approach related to health, safety, environment and sustainability, along with a comprehensive review of sustainability performance.

The Report includes mining industry-specific indicators from the Sustainability Accounting Standards Board Metals and Mining disclosures and metrics, and certain indicators in reference to the Global Reporting Initiative standards.

The Report's theme, "Together, We Make Mining Work", reflects the Company's belief that responsible mining is achieved through collaboration. For almost 70 years, the Company has recognized that long-term success is built through strong relationships with employees, Indigenous Peoples, communities, partners and stakeholders and the Company remains committed to operating in a way that creates shared value for all stakeholders.

Report Highlights:

Strong sustainability performance – The Company continued its "Towards Zero Accidents" initiative by focusing on visible felt leadership, employee training, and risk identification and mitigation. Performance was maintained or improved across many key factors including zero significant environmental incidents and increased employee engagement results
- However, these positive actions were overshadowed by fatal accidents at Fosterville in December 2025 and Canadian Malartic in April 2026. The Company has taken steps to reset its approach to safety, including immediately calling for safety meetings globally, with all employees and contractors, to emphasize that safe production is core to the sustainability and success of our business and that if a job cannot be done safely, it should not be done
Approach to climate change – The Company's continued efforts in decarbonization are focused on energy efficiency, technology transition and increased use of renewable energy. In 2025, the Company maintained its position among gold industry leaders in greenhouse gas emissions performance with an intensity of 0.39 tonnes of CO₂equivalent per ounce of gold produced
Commitment to reconciliation with Indigenous communities – The Company progressed the implementation of its Reconciliation Action Plan, including with the establishment of an Indigenous Advisory Committee, the delivery of over 5,000 hours of Indigenous cultural awareness training to employees and by hosting over 200 Indigenous cultural awareness activities across the Company. This comprehensive approach reinforces the Company's dedication to fostering positive relationships and supporting Indigenous Peoples globally
Investing in communities – Being a trusted and valued member of the communities associated with the Company's operations remains a fundamental principle and priority for the Company. In 2025, the Company's donations to charitable organizations were approximately $11 million and the Company spent approximately $2.0 billion on locally sourced goods and services, approximately $1.2 billion of which went to Indigenous businesses
Mining responsibly – The Company is committed to being a responsible miner and contributing to the sustainable development of the regions in which it operates. The Company upholds recognized international sustainability frameworks, including Towards Sustainable Mining (TSM), Responsible Gold Mining Principles (RGMP), the Voluntary Principles on Security and Human Rights (VPSHRs) and the Conflict-Free Gold Standard

Commitment to the Development of Inuit Education

Inuit Nunangat University – The Company is proud to formalize its commitment of C$10M to support the development of the Inuit Nunangat University. The Company commends the leadership of Inuit Tairiit Kanatami in advancing this important initiative in support of Inuit self-determination, cultural preservation and capacity-building and looks forward to supporting the students and graduates as they pursue future careers and business opportunities within Inuit Nunangat and beyond

The Company's 2025 Sustainability Report can be accessed here.

Key Value Drivers – Building the Next Phase of Growth

The Company is advancing a disciplined growth strategy aimed at enhancing the gold production profile in the short-term and supporting a pathway to increase annual gold production by 20-30% over the next decade, with a first step-up in production expected in 2030 and the potential to exceed 4.0 million ounces in the early 2030s. The growth is anchored in the expansions of world-class assets at Canadian Malartic and Detour Lake, as well as the construction of Upper Beaver, Hope Bay and San Nicolas located in regions where the Company operates and has technical expertise, established community relationships, existing infrastructure and established supply chains, supporting compelling risk-adjusted returns.

Key Project	2026 Gold Production Guidance (000s oz)	Anticipated Production Ramp-up Year	Anticipated Incremental Annual Gold Production* (000s oz)	Anticipated Incremental Annual Copper Production (tonnes)
Canadian Malartic	575 -- 590	2033	400 -- 500	--
Detour Lake	700 -- 715	2030	300 -- 350	--
Upper Beaver	--	2030	200 -- 225	3,600
Hope Bay	--	2030	400 -- 425	--
San Nicolás (50%)**	--	2030	--	50,000 -- 60,000

*	The forecast parameters were based on internal evaluations, which are preliminary in nature and include inferred mineral resources. For a description see "Notes to Investors Regarding Certain Project Evaluations" below
**	San Nicolás incremental annual production also includes approximately 150,000 to 160,000 tonnes of zinc in first eight years of production and 20,000 to 30,000 tonnes of zinc in subsequent years

Canadian Malartic – Potential for 400,000 to 500,000 ounces of incremental annual gold production

The Company continues to advance the transition to underground mining with the construction of the Odyssey mine, including the development of Odyssey Shaft #1 and is advancing internal evaluations on three projects that, together, have the potential to increase annual gold production, starting in 2033, towards one million ounces. These projects include (i) a second shaft at Odyssey, (ii) the development of a satellite open pit at Marban and (iii) the development of the Wasamac underground project. Marban and Wasamac are located approximately 12 kilometres and 100 kilometres from the Canadian Malartic mill, respectively.

Odyssey Development

In the first quarter of 2026, mine development advanced with a continued focus on the main ramp, which reached a depth of 1,151 metres as of March 31, 2026, and the development of the East Gouldie production levels. Production via ramp from East Gouldie commenced in March 2026, approximately three months ahead of plan. Development remains a priority, with the Company targeting a sustained development rate of approximately 2,000 metres per month, supported by the integration of new development teams and equipment, increased hoisting capacity, optimization of hauling and service activities, and the increased use of automation and autonomous hauling. The excavation of two ventilation raises from surface to level 58 and the construction of the main exhaust fan station also advanced, with commissioning expected in June 2026.

Work continued on the development and construction of the first loading station between levels 102 and 111, including the crushing and material‑handling circuit, shaft loading pocket and maintenance shop. Development activities continue to progress on schedule in support of the planned start of shaft‑hoisted production from East Gouldie in the second quarter of 2027. Shaft sinking activities continued ahead of schedule, with the excavation of the material‑handling infrastructure for the second loading station between levels 137 and 146 now expected to be completed in the second quarter of 2026 and the completion of the first phase of shaft sinking to a planned depth of 1,580 metres now expected at year-end 2026. The shaft reached a depth of 1,514 metres as at March 31, 2026. A second phase of sinking is expected to resume in 2029 and be completed in 2031, extending the shaft to its final expected depth of 1,870 metres. The third loading station, located between levels 172 and 181, is expected to be completed and commissioned in 2031.

Construction of key surface infrastructure progressed, with the operational complex expected to be completed in the second quarter of 2026 and phase two of the paste plant (designed for a 20,000 tonnes per day ("tpd") capacity) expected to be completed in the fourth quarter of 2026. The fabrication of the production hoist is complete and delivery of the various components of the hoist is ongoing, with assembly to start in the second quarter of 2026. Commissioning of the production hoist is expected in the second quarter of 2027.

Odyssey Shaft #2

The Company is advancing an internal technical evaluation of a potential second shaft at the Odyssey mine. Drilling of the geotechnical pilot hole at the planned location has been completed to a depth of 1,800 metres. Current work is focused on mine design and planning, surface layout, headframe design and preparatory activities to support the permitting process. The evaluation is expected to be completed in the fourth quarter of 2026.

Exploration at Odyssey

During the first quarter of 2026, 13 surface rigs and 16 underground rigs were in operation, drilling a total of 56,635 metres supplemented by an additional six surface rigs completing 13,455 metres of drilling dedicated to regional exploration around Canadian Malartic, including the Marban project.

Exploration drilling targeted multiple areas of the Odyssey mine, returning positive results in the upper eastern, central, western and deeper areas of the East Gouldie deposit and in the internal zones of the Odyssey deposit.

In the upper eastern extension of the East Gouldie deposit, underground drilling was highlighted by hole UGEG-103-005 intersecting 6.7 g/t gold over 36.0 metres at 1,089 metres depth, including 12.6 g/t gold over 15.3 metres at 1,089 metres depth; and hole UGEG-095-014 intersecting 5.5 g/t gold over 10.3 metres at 1,061 metres depth, 5.8 g/t gold over 9.8 metres at 1,153 metres depth, 5.1 g/t gold over 6.3 metres at 1,175 metres depth and 3.0 g/t gold over 15.8 metres at 1,187 metres depth.

In the Odyssey deposit, conversion drilling encountered significant mineralization in the lower portion of the porphyry in the internal zones, highlighted by hole UGOD-057-012 intersecting 6.1 g/t gold over 12.9 metres (core length) at 1,017 metres depth, including 12.0 g/t gold over 4.9 metres (core length) at 1,020 metres depth, and 9.0 g/t gold over 53.5 metres (core length) at 1,067 metres depth; and hole UGOD-064-019 intersecting 2.8 g/t gold over 27.6 metres (core length) at 992 metres depth, including 5.6 g/t gold over 8.0 metres (core length) at 992 metres depth. The internal zones in the vicinity of the Odyssey North zone will be further investigated in 2026 to help in planning the future mining infrastructure in this area.

Selected recent drill intersections from the Odyssey mine are set out in the composite longitudinal section below and in a table in the Appendix.

[Odyssey – Composite Cross and Longitudinal Sections]

Marban

During the first quarter of 2026 at Marban, the second phase of an exploration and conversion drilling program completed 29 holes totalling 7,013 metres. The program mainly targeted the northern and eastern extensions of the Marban deposit near and beyond the newly expanded proposed pit outline.

Wasamac

At Wasamac, the Company envisions an underground satellite operation with a planned mining rate of approximately 3,200 tpd. Ore is expected to be transported to the Canadian Malartic mill for processing, with an average annual gold production expected to be approximately 90,000 ounces with the potential for initial production as early as 2033. In the first quarter of 2026, the Company advanced optimization and trade‑off studies alongside permitting activities and engagement with stakeholders.

Detour Lake – Potential for 300,000 to 350,000 ounces of incremental annual gold production

In the first quarter of 2026, excavation of the exploration ramp advanced by 345 metres to a total length of 823 metres, reaching a depth of 147 metres as of March 31, 2026. The Company is ramping up its workforce and integrating additional equipment in preparation for the commencement of multi‑face development expected to begin in the third quarter of 2026. Extension of the exploration ramp to the planned bulk‑sampling location at level 200 is expected to be completed in the first half of 2027.

Other activities supporting the underground project during the first quarter of 2026 included the commencement of overburden excavation for the conveyor ramp portal near the mill, with underground ramp development planned to begin in the first quarter of 2027. Work also progressed on the construction of the camp extension, and detailed engineering was initiated for the paste plant, ore‑handling system and electrical infrastructure.

At Detour Lake during the first quarter of 2026, exploration drilling totalled 39,052 metres. The program continued to expand and infill the mineralization below and to the west of the mineral resource pit. The first underground drill was mobilized during the first quarter of 2026 and completed 726 metres of drilling.

To complement the planned bulk sample at Level 200, the Company has initiated a high-intensity drill program targeting Domain 54, similar to the investigation of Domain 53 in 2025, to validate the continuity of mineralization and improve the accuracy of the geological model. Highlights from the high-intensity drilling included hole DLM26-1299 intersecting 14.0 g/t gold over 2.5 metres at 84 metres depth and 8.9 g/t gold over 14.1 metres at 187 metres depth; and hole DLM26-1313 intersecting 2.9 g/t gold over 23.2 metres at 210 metres depth, including 8.1 g/t gold over 6.0 metres at 218 metres depth and 14.9 g/t gold over 9.0 metres at 238 metres depth.

Drilling in the West Extension zone approximately 1.5 kilometres west of the resource-pit outline continued to extend the underground mineral potential to the west with highlights of hole DLM25-1243 intersecting 28.0 g/t gold over 4.4 metres at 734 metres depth and 11.7 g/t gold over 2.6 metres at 794 metres depth; hole DLM25-1255 intersecting 2.6 g/t gold over 27.4 metres at 669 metres depth; hole DLM25-1274 intersecting 14.0 g/t gold over 2.6 metres at 797 metres depth and 3.6 g/t gold over 9.5 metres at 816 metres depth; and hole DLM25-1245 intersecting 10.7 g/t gold over 10.1 metres at 497 metres depth, including 37.8 g/t gold over 2.6 metres at 501 metres depth.

Drilling that tested the West Extension zone approximately 2.5 kilometres west of the resource-pit outline was highlighted by hole DLM25-1240 intersecting 10.0 g/t gold over 3.1 metres at 922 metres depth.

Selected recent drill intersections from Detour Lake are set out in the composite longitudinal section below and in a table in the Appendix.

[ Detour Lake – Composite Longitudinal Section]

The Company also has a regional exploration program underway at Detour Lake, with $3.7 million budgeted in 2026 for 10,000 metres of drilling that will include condemnation drilling of planned and proposed infrastructure.

Upper Beaver – Potential for 200,000 to 225,000 ounces of annual gold production and 3,600 tonnes of copper

Development activities continued to advance ahead of schedule in the first quarter of 2026, with the exploration ramp advancing by 514 metres and reaching a depth of 108 metres, and the shaft reaching a depth of 382 metres as at March 31, 2026.

During the first quarter of 2026, a high-intensity exploration drilling program at a 20-metre spacing focused on a portion of the Upper Beaver deposit between approximately 500 to 600 metres depth that is dominated by vein systems that are representative of the larger deposit. The primary objective of the high-intensity drilling is to validate the mineral resource model and assess grade-variability within the most representative geological zones of the Upper Beaver deposit. This high-intensity drilling program is expected to complement the planned bulk sample at the 760‑metre level and has the potential to bring forward initial production to early 2030.

More than half of the high-intensity drilling program has been completed, starting with Zone 201 and continuing into Zone 107.

Recent highlights from Zone 201 include hole KLUB26-913A intersecting 4.5 g/t gold and 1.07% copper over 4.2 metres at 531 metres depth; hole KLUB26-881W3 intersecting 7.9 g/t gold and 0.98% copper over 6.4 metres at 555 metres depth; hole KLUB26-881W5 intersecting 18.3 g/t gold and 1.19% copper over 2.9 metres at 584 metres depth. In Zone 107, highlight hole KLUB26-915A intersected 45.5 g/t gold and 0.21% copper over 0.9 metres at 535 metres depth.

Selected recent drill intersections from Upper Beaver are set out in the composite longitudinal section below and in a table in the Appendix.

[ Upper Beaver – Composite Cross and Longitudinal Sections]

Hope Bay – Potential for 400,000 to 425,000 ounces of annual gold production

In the first quarter of 2026, the Company advanced site preparations to support a potential project redevelopment, including upgrades to camp facilities, with installation of a third camp wing ongoing. During the quarter, the Company focused on completing a technical evaluation for the potential redevelopment, advancing detailed engineering to approximately 55% completion, and progressing planning and procurement activities for the upcoming sealift season, in advance of a potential redevelopment decision expected in May 2026.

In the first quarter of 2026, excavation of the Naartok East exploration ramp at Madrid advanced by 638 metres and reached a depth of 111 metres as of March 31, 2026. In 2026, the exploration ramp will continue to advance for a total of 3.3 kilometers to a depth of 185 metres to facilitate infill and expansion drilling along the Madrid zones. At Patch 7, excavation of the portal boxcut for the dedicated exploration ramp was completed and preparation for ground support activities are underway.

San Nicolás Copper Project (50/50 joint venture with Teck Resources Limited)

Regulatory decisions for the MIA-R (Environmental Impact Assessment) and ETJ (Land Use Change) permits are pending. In the first quarter of 2026, Minas de San Nicolás continued to advance engineering on critical infrastructure to increase confidence in the feasibility study, further de-risk the execution strategy and position the project for a potential sanction decision, subject to receipt of permits. As at March 31, 2026, more than 40% of engineering had been completed, with progress expected to reach approximately 50% by mid-2026.

During the quarter, drilling activities also progressed, focusing on condemnation drilling and geological evaluation near the projected mine area.

First Quarter 2026 Operating Results

Regional operating statistics and highlights for the first quarter of 2026 are set out below. See the MD&A under the caption "Financial and Operating Results" for a variance analysis on gold production, production costs, minesite costs per tonne and total cash costs per ounce compared to the prior-year period.

ABITIBI REGION, QUEBEC

First Production Achieved at East Gouldie; Strong Operational Performance at Akasaba West; Automation Initiatives Continue to Advance at LaRonde

Abitibi Quebec – Operating Statistics
Three Months Ended March 31, 2026	LaRonde	Canadian Malartic	Goldex	Consolidated Abitibi Quebec
Tonnes of ore milled (thousands)	776	4,707	813	6,296
Tonnes of ore milled per day	8,622	52,300	9,033	69,955
Gold grade (g/t)	3.55	1.20	1.35	1.51
Gold production (ounces)	81,596	166,216	29,372	277,184
Production costs per tonne (C$)	C$ 156	C$ 38	C$ 68	C$ 56
Minesite costs per tonne (C$)	C$ 175	C$ 50	C$ 64	C$ 67
Production costs per ounce	$ 1,079	$ 782	$ 1,362	$ 931
Total cash costs per ounce	$ 1,027	$ 998	$ 915	$ 998

Regional Highlights

Gold production in the quarter was higher than planned primarily as a result of higher grades and ore tonnes at the Barnat pit at Canadian Malartic. The higher gold grades and ore tonnes were a result of the continued mining of mineralized zones near historical underground stopes in the Barnat pit
At LaRonde, production was affected by mining sequence adjustments, as delays at the East Mine were offset by higher tonnes from LaRonde Zone 5 ("LZ5") and Zone 11‑3, resulting in lower gold grades than planned for the quarter
At LaRonde, the Company continued its automation initiatives with approximately 26% of the ore mucked using automated loaders during the quarter. The Company began testing hauling of ore with autonomous trucks from level 317 to level 290 in the East mine
At Odyssey, East Gouldie first production via ramp was achieved in March 2026, three months ahead of schedule. Gold production was in line with plan at approximately 27,400 ounces
At Goldex, strong productivity at the Akasaba open pit resulted in higher ore tonnes and a higher percentage of ore from Akasaba processed at the mill during the quarter
At LaRonde, a 10-day shutdown is scheduled in the second quarter of 2026 to replace the liners at the SAG mill and to complete maintenance of the drystack filtration plant and flotation circuit. Canadian Malartic has four-day quarterly shutdowns planned in 2026 for regular maintenance at the mill. Goldex has two to three-day quarterly shutdowns planned for regular maintenance at the mill.
An update on Odyssey and the "fill-the-mill" strategy is set out in the Key Value Drivers – Building the Next Phase of Growth section above

ABITIBI REGION, ONTARIO

Strong Production at Detour Lake Driven by Higher Grades and Strong Mill Operating Performance; Record Quarterly Mill Throughput at Macassa

Abitibi Ontario – Operating Statistics
Three Months Ended March 31, 2026	Detour Lake	Macassa	Consolidated Abitibi Ontario
Tonnes of ore milled (thousands)	6,748	149	6,897
Tonnes of ore milled per day	74,978	1,656	76,634
Gold grade (g/t)	0.90	11.92	1.14
Gold production (ounces)	177,019	55,593	232,612
Production costs per tonne (C$)	C$ 34	C$ 670	C$ 48
Minesite costs per tonne (C$)	C$ 36	C$ 660	C$ 49
Production costs per ounce	$ 951	$ 1,303	$ 1,035
Total cash costs per ounce	$ 974	$ 1,256	$ 1,041

Regional Highlights

Gold production for the quarter was in line with plan. Strong production at Detour Lake, driven by a higher grade sequence and a strong mill performance, offset lower tonnes processed at Macassa. Despite milling fewer tonnes than expected at Macassa, the mill achieved record quarterly throughput of 149,000 tonnes
At Detour Lake, a record 29.5 million tonnes of ore and waste were extracted from the open pit, despite seasonal weather interruptions, driven by higher availability and productivity of the hauling fleet. Mill performance remained strong, with runtime reaching a record level for a first quarter of approximately 92.5% and mill recovery of 90.9%, both higher than anticipated
At Macassa, planned production was affected primarily by challenges with the paste plant and the paste distribution system during the quarter. The reliability of the existing paste plant was insufficient to support the increased mining rate, exacerbated by extreme cold temperatures. These issues are expected to be resolved with the commissioning of the new paste plant, with a design capacity of approximately 3,600 tpd, which remains on track for the second quarter of 2026. The new paste plant and distribution system are required to support the planned ramp-up of the mining and milling rate to 2,040 tpd by the end of 2026
The Company received approval during the quarter for a permit amendment allowing ore from the AK deposit to be processed at the LZ5 processing facility at LaRonde. Trucking of ore from the AK deposit to the LZ5 facility commenced in April 2026, with milling expected to begin in the second quarter of 2026. Production from the AK deposit is forecast to be approximately 40,000 ounces of gold in 2026
Detour Lake has scheduled shutdowns for regular mill maintenance in the second and fourth quarters of 2026, each lasting seven days. Macassa has scheduled a 5-day shutdown in the third quarter of 2026 for the replacement of the primary grinding mill liner, the annual overhaul of the crusher and other regular mill maintenance
Updates on the Detour Lake underground and Upper Beaver projects are set out in the Key Value Drivers – Building the Next Phase of Growth section above

NUNAVUT

Solid Performance at Meliadine Despite Weather Conditions; Higher Grade Delivers Strong Gold Production at Meadowbank

Nunavut – Operating Statistics
Three Months Ended March 31, 2026	Meliadine	Meadowbank	Consolidated Nunavut
Tonnes of ore milled (thousands)	558	1,099	1,657
Tonnes of ore milled per day	6,200	12,211	18,411
Gold grade (g/t)	5.48	3.56	4.21
Gold production (ounces)	93,831	113,862	207,693
Production costs per tonne (C$)	C$ 231	C$ 230	C$ 230
Minesite costs per tonne (C$)	C$ 270	C$ 158	C$ 196
Production costs per ounce	$ 997	$ 1,613	$ 1,335
Total cash costs per ounce	$ 1,162	$ 1,080	$ 1,117

Regional Highlights

Gold production in the quarter was higher than planned primarily as a result of higher than anticipated grades at Meadowbank, partially offset by lower throughput at Meliadine due to challenging weather conditions
At Meliadine, open pit operations were temporarily affected by adverse weather conditions. Underground development delivered strong results, with lateral development exceeding plan and achieving a quarterly record of 4,114 metres
At Meadowbank, the mill delivered strong throughput during the quarter, supported by higher than anticipated total tonnes mined from the open pit operations and stockpile processing. Gold grades were higher, reflecting a change in mining sequence and the processing of higher‑grade stockpiles
Meliadine has scheduled a four to five day shutdown for regular mill maintenance in the third quarter of 2026 . Meadowbank has scheduled shutdowns in the second and fourth quarters of 2026, each lasting five days, to replace the SAG and ball mill liners and complete other regular mill maintenance
An update on Hope Bay is set out in the Key Value Drivers – Building the Next Phase of Growth section above

AUSTRALIA

Strong Performance at the Phoenix Zone Drives Higher Grades and Throughput

Fosterville – Operating Statistics		Three Months Ended March 31, 2026
Tonnes of ore milled (thousands)		216
Tonnes of ore milled per day		2,400
Gold grade (g/t)		6.31
Gold production (ounces)		41,443
Production costs per tonne (A$)		A$308
Minesite costs per tonne (A$)		A$316
Production costs per ounce		$ 1,098
Total cash costs per ounce		$ 1,123

Highlights

Gold production in the quarter was higher than planned driven by higher mill throughput and higher gold grades primarily as a result positive grade reconciliation. Higher throughput was also achieved at the mill primarily due to strong underground performance, with additional development metres and ore tonnes than planned from the Phoenix zone
The Company is implementing an upgrade of the primary ventilation system to sustain the mining rate in the Lower Phoenix zones in future years. Major fan components have been installed underground and electrical installation is ongoing. Commissioning is now expected to be completed in the second quarter of 2026
Fosterville has scheduled quarterly 5-day shutdowns for regular mill maintenance in 2026

FINLAND

Optimization Initiatives Continue to Drive Strong Underground Mining Performance; Proposed CLGB Consolidation Envisions a Multi-Decade, Multi-Asset Platform

Kittila – Operating Statistics		Three Months Ended March 31, 2026
Tonnes of ore milled (thousands)		448
Tonnes of ore milled per day		4,978
Gold grade (g/t)		4.19
Gold production (ounces)		48,527
Production costs per tonne (€)		€129
Minesite costs per tonne (€)		€122
Production costs per ounce		$ 1,401
Total cash costs per ounce		$ 1,313

Highlights

Gold production in the quarter was below plan, driven primarily by lower mill throughput and recovery, partially offset by higher grades. Mill performance was affected by an external power outage in January and an unplanned three‑day shutdown in March related to the mechanical failure of the counter current decantation tank mixer. Higher gold grades reflect positive grade reconciliation
Mill recovery remained lower than planned at 81%, as the Company continues to advance several improvement initiatives, including the optimization of reagent dosage based on feed blend, the addition of new instrumentation at the autoclave for process optimization and pilot testing of heated leach plant
Underground operations delivered strong performance during the quarter, with development and ore production exceeding plan. The mine continues to achieve productivity gains, reflecting sustained improvement initiatives implemented over the past year
Kittila has scheduled a 17-day shutdown for regular maintenance on the mill and autoclave relining in the fourth quarter of 2026
On April 20, 2026, the Company announced a comprehensive consolidation of properties in the CLGB of Northern Finland through the announced acquisitions of Rupert and Aurion and the acquisition of the 70% interest in Fingold Ventures Ltd. held by B2Gold (the other 30% is held by Aurion). Through these transactions, the Company expects to consolidate a highly prospective 2,492 km²land package encompassing the Kittila mine, the advanced Ikkari exploration project, and substantial exploration upside across multiple targets, including several recent discoveries

MEXICO

Strong Mill Throughput Driven by Solid Operational Performance at Sinter

Pinos Altos – Operating Statistics		Three Months Ended March 31, 2026
Tonnes of ore milled (thousands)		427
Tonnes of ore milled per day		4,744
Gold grade (g/t)		1.36
Gold production (ounces)		17,650
Production costs per tonne		$ 155
Minesite costs per tonne		$ 136
Production costs per ounce		$ 3,746
Total cash costs per ounce		$ 2,311

About Agnico Eagle

About this News Release

When used in this news release, the terms "including" and "such as" mean including and such as, without limitation.

The information contained on any website linked to or referred to herein (including the Company's website) is not part of this news release.

Note Regarding Certain Measures of Performance

This news release discloses certain financial performance measures, including "total cash costs per ounce", "minesite costs per tonne", "all-in sustaining costs per ounce" (or "AISC per ounce"), "adjusted net income", "adjusted net income per share", "cash provided by operating activities before changes in non-cash components of working capital", "cash provided by operating activities before changes in non-cash components of working capital per share", "EBITDA" which means earnings before interest, taxes, depreciation and amortization, "adjusted EBITDA", "free cash flow", "free cash flow before changes in non-cash components of working capital", "operating margin", "capital expenditures", "sustaining capital expenditures", "development capital expenditures", "sustaining capitalized exploration", "development capitalized exploration" and "net cash (debt)", as well as, for certain of these measures their related per share ratios that are not standardized measures under IFRS Accounting Standards. These measures may not be comparable to similar measures reported by other gold producers and should be considered together with other data prepared in accordance with IFRS Accounting Standards. See below for a reconciliation of these measures to the most directly comparable financial information reported in the condensed interim consolidated financial statements for the three months ended March 31, 2026 (the "First Quarter Financial Statements") prepared in accordance with IFRS Accounting Standards. Adjustments that are not applicable in respect of the periods for which reconciliations are provided are not shown in the quantitative reconciliation.

Total Cash Costs per Ounce of Gold Produced and Minesite Costs per Tonne

Total Cash Costs per Ounce

Total cash costs per ounce is calculated on a per ounce of gold produced basis and is reported either on a by-product basis (deducting the impact of by-product metals from production costs to isolate the cost of producing an ounce of gold) and, where indicated, on a co-product basis (without deducting the impact of by-product metals). Total cash costs per ounce on a by-product basis are calculated by adjusting production costs as recorded in the First Quarter Financial Statements for (i) the impact of by-products, (ii) inventory production costs, (iii) the impact of purchase price allocation in connection with mergers and acquisitions on inventory accounting, (iv) realized gains and losses on hedges of production costs, (v) in-kind royalty costs, and (vi) smelting, refining and marketing charges and then dividing by the number of ounces of gold produced. For periods commencing on or after January 1, 2026, the Company also adjusts production costs for the NTI Payment (as discussed further below), which adjustment only affects this non-GAAP measure only insofar as the measure includes costs from Meadowbank (that is, for Meadowbank, the Nunavut region and the consolidated Company). The Company's calculation of total cash costs per ounce for other mines and regions that do not include Meadowbank are not affected by this change.

Minesite Costs per Tonne

Minesite costs per tonne are calculated by adjusting production costs as recorded in the First Quarter Financial Statements for (i) inventory production costs, (ii) in-kind royalty costs, and (iii) smelting, refining and marketing charges, and then dividing by tonnage of ore processed. For periods commencing on or after January 1, 2026, the Company also adjusts production costs for the NTI Payment (as discussed above in "Total Cash Costs per Ounce"), which adjustment only affects minesite costs per tonne at Meadowbank and for the Nunavut region. The Company's calculation of minesite costs per tonne for other mines and regions other than the Nunavut region are not affected by this change. In this news release, minesite costs for periods that commenced prior to January 1, 2026 have been calculated using this revised methodology.

The following table sets out the production costs per minesite for the three months ended March 31, 2026 and March 31, 2025, as presented in the First Quarter Financial Statements in accordance with IFRS Accounting Standards.

Total Production Costs by Mine
	Three Months Ended March 31,
*(thousands of United States dollars)*	2026	2025
LaRonde	88,008	86,644
Canadian Malartic	129,946	119,289
Goldex	39,999	34,656
Quebec	257,953	240,589
Detour Lake	168,379	134,946
Macassa	72,465	49,826
Ontario	240,844	184,772
Meliadine	93,559	83,822
Meadowbank	183,615	126,967
Nunavut	277,174	210,789
Fosterville	45,493	33,040
Australia	45,493	33,040
Kittila	68,009	55,833
Finland	68,009	55,833
Pinos Altos	66,114	42,710
Mexico	66,114	42,710

Production costs per the First Quarter Financial Statements	$ 955,587	$ 767,733

The following tables set out a reconciliation of total cash costs per ounce (on both a by-product basis and co-product basis) and minesite costs per tonne to production costs for the three months ended March 31, 2026 and March 31, 2025, exclusive of amortization, as presented in the First Quarter Financial Statements in accordance with IFRS Accounting Standards.

Reconciliation of Production Costs to Total Cash Costs per Ounce by Mine

Three Months Ended March 31, 2026
*(United States dollars in thousands, except per ounce measures or as otherwise noted)*
Mine	Payable gold production (ounces)⁽ⁱ⁾	Production costs	Production costs per ounce	Inventory adjustments⁽ⁱⁱ⁾	Realized (gains) and losses on hedges	In-kind royalty costs and NTI Payment⁽ⁱⁱⁱ⁾	Smelting, refining and marketing charges	Total cash costs per ounce (co- product basis)	Impact of by-product metals	Total cash costs per ounce (by- product basis)
LaRonde	81,596	88,008	1,079	17,164	(323)	--	3,271	1,325	(24,299)	1,027
Canadian Malartic	166,216	129,946	782	4,777	(705)	37,309	945	1,036	(6,462)	998
Goldex	29,372	39,999	1,362	(1,852)	(119)	--	1,052	1,331	(12,217)	915
Quebec	277,184	257,953	931	20,089	(1,147)	37,309	5,268	1,153	(42,978)	998
Detour Lake	177,019	168,379	951	(9,663)	(1,032)	17,369	921	994	(3,531)	974
Macassa	55,593	72,465	1,303	(7,071)	(303)	5,929	59	1,279	(1,264)	1,256
Ontario	232,612	240,844	1,035	(16,734)	(1,335)	23,298	980	1,062	(4,795)	1,041
Meliadine	93,831	93,559	997	16,333	(370)	--	136	1,169	(631)	1,162
Meadowbank	113,862	183,615	1,613	(6,070)	(460)	(51,283)	160	1,106	(3,022)	1,080
Nunavut	207,693	277,174	1,335	10,263	(830)	(51,283)	296	1,134	(3,653)	1,117
Fosterville	41,443	45,493	1,098	1,781	(814)	--	68	1,123	--	1,123
Australia	41,443	45,493	1,098	1,781	(814)	--	68	1,123	--	1,123
Kittila	48,527	68,009	1,401	(4,052)	(11)	--	(27)	1,317	(187)	1,313
Finland	48,527	68,009	1,401	(4,052)	(11)	--	(27)	1,317	(187)	1,313
Pinos Altos	17,650	66,114	3,746	(7,244)	(876)	--	1,100	3,348	(18,313)	2,311
Mexico	17,650	66,114	3,746	(7,244)	(876)	--	1,100	3,348	(18,313)	2,311
Consolidated	825,109	955,587	1,158	4,103	(5,013)	9,324	7,685	1,178	(69,926)	1,093

Notes:
(i)	Gold production for the period ended March 31, 2026 excludes 418 ounces of payable production of gold at La India and 76 ounces of payable production of gold at Creston Mascota , which were produced from residual leaching.
(ii)	Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic for the three months ended March 31, 2026 is $3.6 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(iii)	In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of total cash costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Three Months Ended March 31, 2025
*(United States dollars in thousands, except per ounce measures or as otherwise noted)*
Mine	Payable gold production (ounces)⁽ⁱ⁾	Production costs	Production costs per ounce	Inventory adjustments⁽ⁱⁱ⁾	Realized (gains) and losses on hedges	In-kind royalty costs and NTI Payment⁽ⁱⁱⁱ⁾	Smelting, refining and marketing charges	Total cash costs per ounce (co- product basis)	Impact of by-product metals	Total cash costs per ounce (by- product basis)
LaRonde	91,491	86,644	947	(4,748)	713	--	2,779	933	(17,222)	745
Canadian Malartic	159,773	119,289	747	5,395	1,136	24,588	270	943	(2,589)	927
Goldex	30,016	34,656	1,155	108	301	--	967	1,200	(7,249)	959
Quebec	281,280	240,589	855	755	2,150	24,588	4,016	967	(27,060)	871
Detour Lake	152,838	134,946	883	(364)	878	8,700	1,303	952	(888)	946
Macassa	86,028	49,826	579	1,864	719	3,534	87	651	(501)	645
Ontario	238,866	184,772	774	1,500	1,597	12,234	1,390	844	(1,389)	838
Meliadine	98,512	83,822	851	5,859	892	--	84	920	--	920
Meadowbank	140,126	126,967	906	(1,663)	1,158	(7,418)	35	850	(750)	844
Nunavut	238,638	210,789	883	4,196	2,050	(7,418)	119	879	(750)	876
Fosterville	43,615	33,040	758	2,520	--	--	16	816	(114)	813
Australia	43,615	33,040	758	2,520	--	--	16	816	(114)	813
Kittila	54,104	55,833	1,032	(1,106)	174	--	(56)	1,014	(113)	1,012
Finland	54,104	55,833	1,032	(1,106)	174	--	(56)	1,014	(113)	1,012
Pinos Altos	17,291	42,710	2,470	2,200	114	--	259	2,619	(7,762)	2,170
Mexico	17,291	42,710	2,470	2,200	114	--	259	2,619	(7,762)	2,170
Consolidated	873,794	767,733	879	10,065	6,085	29,404	5,744	938	(37,188)	895

Notes:
(i)	Gold production for the three months ended March 31, 2025 excludes 1,811 ounces of payable production of gold at La India and 25 ounces of payable production of gold at Creston Mascota, which were produced from residual leaching.
(ii)	Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic for the three months ended March 31, 2025 is $1.1 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(iii)	In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of total cash costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Reconciliation of Production Costs to Minesite Costs per Tonne by Mine

Three Months Ended March 31, 2026
*(thousands, except per tonne measures or as otherwise noted)*
Mine	Tonnes of ore milled (thousands)	Production costs ($)	Production costs in local currency	Local currency production costs per tonne	Inventory adjustments in local currency⁽ⁱ⁾	In-kind royalty and NTI Payment in local currency⁽ⁱⁱ⁾	Smelting, refining and marketing charges in local currency	Local currency minesite costs per tonne
LaRonde	776	$ 88,008	C$ 121,027	C$ 156	C$ 23,633	C$ --	C$ (9,224)	C$ 175
Canadian Malartic	4,707	$ 129,946	C$ 178,822	C$ 38	C$ 1,444	C$ 51,224	C$ 4,986	C$ 50
Goldex	813	$ 39,999	C$ 55,053	C$ 68	C$ (2,653)	C$ --	C$ --	C$ 64
Quebec	6,296	$ 257,953	C$ 354,902	C$ 56	C$ 22,424	C$ 51,224	C$ (4,238)	C$ 67
Detour Lake	6,748	$ 168,379	C$ 231,062	C$ 34	C$ (13,326)	C$ 23,834	C$ --	C$ 36
Macassa	149	$ 72,465	C$ 99,773	C$ 670	C$ (9,684)	C$ 8,208	C$ --	C$ 660
Ontario	6,897	$ 240,844	C$ 330,835	C$ 48	C$ (23,010)	C$ 32,042	C$ --	C$ 49
Meliadine	558	$ 93,559	C$ 128,710	C$ 231	C$ 22,173	C$ --	C$ --	C$ 270
Meadowbank	1,099	$ 183,615	C$ 252,761	C$ 230	C$ (8,366)	C$ (70,816)	C$ --	C$ 158
Nunavut	1,657	$ 277,174	C$ 381,471	C$ 230	C$ 13,807	C$ (70,816)	C$ --	C$ 196
Fosterville	216	$ 45,493	A$ 66,470	A$ 308	A$ 1,871	A$ --	A$ --	A$ 316
Australia	216	$ 45,493	A$ 66,470	A$ 308	A$ 1,871	A$ --	A$ --	A$ 316
Kittila	448	$ 68,009	€ 57,890	€ 129	€ (3,365)	€ --	€ --	€ 122
Finland	448	$ 68,009	€ 57,890	€ 129	€ (3,365)	€ --	€ --	€ 122
Pinos Altos	427	$ 66,114	$ 66,114	$ 155	$ (8,119)	$ --	$ --	$ 136
Mexico	427	$ 66,114	$ 66,114	$ 155	$ (8,119)	$ --	$ --	$ 136

Notes:
(i)	This inventory adjustment reflects production costs associated with the portion of production still in inventory. Included in inventory adjustments for Canadian Malartic for the three months ended March 31, 2026 is C$5.0 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(ii)	In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of minesite costs per tonne. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Minesite Costs per Tonne".

Three Months Ended March 31, 2025
*(thousands, except per tonne measures or as otherwise noted)*
Mine	Tonnes of ore milled (thousands)	Production costs ($)	Production costs (local currency)	Production costs per tonne (local currency)	Inventory adjustments (local currency)⁽ⁱ⁾	In-kind royalty costs (local currency)⁽ⁱⁱ⁾	Smelting, refining and marketing charges (local currency)	Minesite costs per tonne (local currency)
LaRonde	675	$ 86,644	C$ 123,759	C$ 183	C$ (6,151)	C$ --	C$ (6,147)	C$ 165
Canadian Malartic	4,865	$ 119,289	C$ 169,263	C$ 35	C$ 7,950	C$ 35,400	C$ --	C$ 44
Goldex	792	$ 34,656	C$ 49,499	C$ 63	C$ 331	C$ --	C$ --	C$ 63
Quebec	6,332	$ 240,589	C$ 342,521	C$ 54	C$ 2,130	C$ 35,400	C$ (6,147)	C$ 59
Detour Lake	6,630	$ 134,946	C$ 191,633	C$ 29	C$ 13	C$ 12,555	C$ --	C$ 31
Macassa	148	$ 49,826	C$ 71,459	C$ 483	C$ 2,692	C$ 5,108	C$ --	C$ 536
Ontario	6,778	$ 184,772	C$ 263,092	C$ 39	C$ 2,705	C$ 17,663	C$ --	C$ 42
Meliadine	558	$ 83,822	C$ 118,780	C$ 213	C$ 8,727	C$ --	C$ --	C$ 229
Meadowbank	1,037	$ 126,967	C$ 179,936	C$ 174	C$ (2,425)	C$ (10,697)	C$ --	C$ 161
Nunavut	1,595	$ 210,789	C$ 298,716	C$ 187	C$ 6,302	C$ (10,697)	C$ --	C$ 185
Fosterville	163	$ 33,040	A$ 51,973	A$ 319	A$ 4,181	A$ --	A$ --	A$ 345
Australia	163	$ 33,040	A$ 51,973	A$ 319	A$ 4,181	A$ --	A$ --	A$ 345
Kittila	522	$ 55,833	€ 53,143	€ 102	€ (1,362)	€ --	€ --	€ 99
Finland	522	$ 55,833	€ 53,143	€ 102	€ (1,362)	€ --	€ --	€ 99
Pinos Altos	381	$ 42,710	$ 42,710	$ 112	$ 2,314	$ --	$ --	$ 118
Mexico	381	$ 42,710	$ 42,710	$ 112	$ 2,314	$ --	$ --	$ 118

Notes:
(i)	This inventory adjustment reflects production costs associated with the portion of production still in inventory. Included in inventory adjustments for Canadian Malartic for the three months ended March 31, 2025 is C$1.5 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.
(ii)	In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of minesite costs per tonne. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Minesite Costs per Tonne".

All-in sustaining costs per ounce

The following table sets out a reconciliation of production costs to all-in sustaining costs per ounce for the three months ended March 31, 2026 and March 31, 2025 on both a by-product basis (deducting the impact of by-product metals from production costs) and a co-product basis (without deducting the impact of by-product metals from production costs).

*(United* *States dollars per ounce, except where noted)*	Three Months Ended March 31,
	2026	2025
Production costs per the First Quarter Financial Statements (thousands of United States dollars)	$ 955,587	$ 767,733
Gold production (ounces)⁽ⁱ⁾	825,109	873,794
Production costs per ounce	$ 1,158	$ 879
Adjustments:
Inventory adjustments⁽ⁱⁱ⁾	6	11
In-kind royalty and NTI Payments⁽ⁱⁱⁱ⁾	11	34
Realized gains and losses on hedges of production costs	(6)	7
Smelting, refining, and marketing charges	9	7
Total cash costs per ounce (co-product basis)	$ 1,178	$ 938
Impact of by-product metals	(85)	(43)
Total cash costs per ounce (by-product basis)	$ 1,093	$ 895
Adjustments:
Sustaining capital expenditures (including capitalized exploration)	243	196
General and administrative expenses (including stock option expense)	94	69
Non-cash reclamation provision and sustaining leases^(iv)	53	15
All-in sustaining costs per ounce (by-product basis)	$ 1,483	$ 1,175
Impact of by-product metals	85	43
All-in sustaining costs per ounce (co-product basis)	$ 1,568	$ 1,218

Notes:
(i) Gold production for the three months ended March 31, 2026 and 2025 excludes 418 ounces and 1,811 ounces of payable production of gold at La India and 76 ounces and 25 ounces of payable production at Creston Mascota, respectively, which were produced from residual leaching
(ii) Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce of gold produced are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic is $3.6 million and $1.1 million for the three months ended March 31 2026 and 2025 respectively, associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold
(iii) In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of all-in sustaining costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce"
(iv) Sustaining leases are lease payments related to sustaining assets

Adjusted net income

Adjusted net income is calculated by adjusting the net income as recorded in the First Quarter Financial Statements for the effects of certain items that the Company believes are not reflective of the Company's underlying performance for the reporting period. Adjusted net income is calculated by adjusting net income for certain non-recurring, unusual and other items such as foreign currency translation gains or losses, realized and unrealized gains or losses on derivative financial instruments, severance, transaction costs related to acquisitions, revaluation gains and losses, environmental remediation charges, gains or losses on the disposal of assets, purchase price allocations to inventory, debt extinguishment costs, impairment loss charges and reversals, gains and losses on the sale of equity securities, retroactive payments, self insurance losses, gains and losses on the sale of non-strategic properties, multi-year donations, disposal of supplies inventory at non-operating sites, and income and mining taxes adjustments. Adjusted net income per share is calculated by dividing adjusted net income by the weighted average number of shares outstanding on a basic and diluted basis.

The following table sets out the calculation of adjusted net income for the three months ended March 31, 2026, and March 31, 2025.

	Three Months Ended March 31,
*(thousands)*	2026	2025

Net income for the period	$ 1,695,461	$ 814,731
Foreign currency translation gain	(733)	(60)
Gain on derivative financial instruments	(4,700)	(68,859)
Environmental remediation	13,970	7,730
Net loss on disposal of property, plant and equipment	10,239	5,646
Purchase price allocation to inventory⁽ⁱ⁾	(3,641)	1,068
Impairment loss⁽ⁱⁱ⁾	--	10,554
Income and mining taxes adjustments⁽ⁱⁱⁱ⁾	(4,840)	(703)
Adjusted net income for the period	$ 1,705,756	$ 770,107

Notes:
(i) As part of the purchase price allocation in a business combination, the Company is required to determine the fair value of net assets acquired. The fair value of inventory acquired is estimated based on the selling cost less costs to be incurred plus a profit margin on those costs resulting in a fair value adjustment to the carrying value of inventories acquired. These non-cash fair value adjustments which affected the cost of inventory sold during the period and are not representative of ongoing operations, were removed from net income in the calculation of adjusted net income
(ii) Relates to the Company's ownership percentage of an impairment loss recorded by an associate
(iii) Income and mining taxes adjustments reflect items such as foreign currency translation recorded to the income and mining taxes expense, the impact of income and mining taxes on adjusted items, recognition of previously unrecognized capital losses, the result of income and mining taxes audits, impact of tax law changes and adjustments to prior period tax filings

EBITDA and adjusted EBITDA

Adjusted EBITDA removes the effects of certain items that the Company believes are not reflective of the Company's underlying performance for the reporting period. Adjusted EBITDA is calculated by adjusting the EBITDA calculation for certain non-recurring, unusual and other items such as foreign currency translation gains or losses, realized and unrealized gains or losses on derivative financial instruments, severance, non-recurring, unusual and other transaction costs related to acquisitions, revaluation gains and losses, environmental remediation, gains or losses on the disposal of assets, purchase price allocations to inventory, debt extinguishment costs, impairment loss charges and reversals, gains and losses on the sale of equity securities, retroactive payments, self insurance losses, gains and losses on the sale of non-strategic properties, multi-year donations, and disposal of supplies inventory at non-operating sites.

The following table sets out the calculation of EBITDA and Adjusted EBITDA for the three months ended March 31, 2026 and March 31, 2025.

	Three Months Ended March 31,
*(thousands)*	2026	2025

Net income for the period	$ 1,695,461	$ 814,731
Finance costs	15,756	22,444
Amortization of property, plant and mine development	420,266	416,800
Income and mining tax expense	864,163	379,840
EBITDA	2,995,646	1,633,815
Foreign currency translation gain	(733)	(60)
Gain on derivative financial instruments	(4,700)	(68,859)
Environmental remediation	13,970	7,730
Net loss on disposal of property, plant and equipment	10,239	5,646
Purchase price allocation to inventory⁽ⁱ⁾	(3,641)	1,068
Impairment loss⁽ⁱⁱ⁾	--	10,554
Adjusted EBITDA	$ 3,010,781	$ 1,589,894

Notes:
(i) As part of the purchase price allocation in a business combination, the Company is required to determine the fair value of net assets acquired. The fair value of inventory acquired is estimated based on the selling cost less costs to be incurred plus a profit margin on those costs resulting in a fair value adjustment to the carrying value of inventories acquired. These non-cash fair value adjustments which affected the cost of inventory sold during the period and are not representative of ongoing operations, were removed from net income in the calculation of adjusted net income
(ii) Relates to the Company's ownership percentage of an impairment loss recorded by an associate

Cash provided by operating activities before changes in non-cash components of working capital and its per share ratio

Cash provided by operating activities before changes in non-cash components of working capital is calculated by adjusting the cash provided by operating activities as shown in the First Quarter Financial Statements for the effects of changes in non-cash components of working capital such as income taxes, inventories, other current assets, accounts payable and accrued liabilities and interest payable. The per share ratio is calculated by dividing cash provided by operating activities before changes in non-cash components of working capital by the weighted average number of shares outstanding on a basic basis. The Company believes that changes in working capital can be volatile due to numerous factors, including the timing of payments. Management uses these measures to, and believes they are useful to investors so they can, assess the underlying operating cash flow performance and future operating cash flow generating capabilities of the Company in conjunction with other data prepared in accordance with IFRS Accounting Standards. A reconciliation of these measures to the nearest IFRS Accounting Standards measure is provided below.

Free cash flow and free cash flow before changes in non-cash components of working capital

Free cash flow is calculated by deducting additions to property, plant and mine development from the cash provided by operating activities line item as recorded in the First Quarter Financial Statements.

The following table sets out the calculation of free cash flow and free cash flow before changes in non-cash components of working capital for the three months ended March 31, 2026 and March 31, 2025.

	Three Months Ended March 31,
*(thousands, except where noted)*	2026	2025

Cash provided by operating activities	$ 1,345,868	$ 1,044,246
Additions to property, plant and mine development	(613,749)	(450,124)
Free cash flow	732,119	594,122
Changes in income taxes	989,080	176,739
Changes in inventory	(36,800)	(30,917)
Changes in other current assets	11,014	(31,390)
Changes in accounts payable and accrued liabilities	(77,800)	50,712
Free cash flow before changes in non-cash components of working capital	$ 1,617,613	$ 759,266
Additions to property, plant and mine development	613,749	450,124
Cash provided by operating activities before changes in non-cash components of working capital	$ 2,231,362	$ 1,209,390

Cash provided by operating activities per share - basic	$ 2.69	$ 2.08
Cash provided by operating activities before changes in non-cash components of working capital per share - basic	$ 4.46	$ 2.41

Free cash flow per share - basic	$ 1.46	$ 1.18
Free cash flow before changes in non-cash components of working capital per share - basic	$ 3.23	$ 1.51

Operating margin

Operating margin is calculated by deducting production costs from revenue from mining operations. In order to reconcile operating margin to net income as recorded in the First Quarter Financial Statements, the Company adds the following items to the operating margin: amortization of property, plant and mine development; exploration and corporate development expenses; general and administrative expenses; finance costs; gain (loss) on derivative financial instruments; foreign currency translation (gain) loss; care and maintenance expenses; other income and expenses; income and mining taxes expense; revaluation gain and impairment losses (reversals). The Company believes that operating margin is a helpful measure to investors as it reflects the operating performance of its individual mines associated with the ongoing production and sale of gold and by-product metals without allocating Company-wide overhead, such as amortization of property, plant and mine development, exploration and corporate development expenses, general and administrative expenses, finance costs, gains and losses on derivative financial instruments, foreign currency translation gains and losses, care and maintenance expenses, other income and expenses and income and mining taxes expense. Management uses this measure internally to plan and forecast future operating results. Management believes this measure is helpful to investors as it provides them with additional information about the Company's underlying operating results, though it should be evaluated in conjunction with other data prepared in accordance with IFRS Accounting Standards.

The following table sets out the calculation of operating margin for the three months ended March 31, 2026 and March 31, 2025.

	Three Months Ended March 31,
*(thousands)*	2026	2025

Net income for the period	$ 1,695,461	$ 814,731
Amortization of property, plant and mine development	420,266	416,800
Exploration and corporate development	52,556	41,805
General and administrative	77,850	60,709
Finance costs	15,756	22,444
Gain on derivative financial instruments	(4,700)	(68,859)
Foreign currency translation gain	(733)	(60)
Care and maintenance	22,596	13,901
Other income and expenses	787	19,204
Income and mining taxes expense	864,163	379,840
Operating margin	$ 3,144,002	$ 1,700,515

Capital expenditures

Capital expenditures are calculated by deducting working capital adjustments from additions to property, plant and mine development per the First Quarter Financial Statements.

The following table sets out a reconciliation of sustaining capital expenditures, sustaining capitalized exploration, development capital expenditures and development capitalized exploration to the additions to property, plant and mine development per the First Quarter Financial Statements for the three months ended March 31, 2026 and March 31, 2025.

*(thousands)*	Three Months Ended March 31,
	2026	2025
Sustaining capital expenditures	$ 196,592	$ 168,076
Sustaining capitalized exploration	5,387	4,448
Development capital expenditures	292,290	186,224
Development capitalized exploration	79,341	60,504
Total Capital Expenditures	$ 573,610	$ 419,252
Working capital adjustments	40,139	30,872
Additions to property, plant and mine development per the First Quarter Financial Statements	$ 613,749	$ 450,124

Net cash

Net cash is calculated by adjusting the total of the current portion of long-term debt and non-current long-term debt for deferred financing costs, less cash and cash equivalents, as recorded in the First Quarter Financial Statements. Management believes that net cash is a useful measure to help investors assess the Company's overall liquidity position, ability to meet its financial obligations, fund capital expenditures, advance growth projects and return capital to shareholders after considering outstanding debt obligations.

The following table sets out a reconciliation of long-term debt per the First Quarter Financial Statements to net cash as at March 31, 2026, and December 31, 2025.

	As at	As at
*(thousands)*	Mar 31, 2026	Dec 31, 2025
Long-term debt	$ (196,548)	$ (196,271)
Cash and cash equivalents	3,111,869	2,866,053
Net cash	$ 2,915,321	$ 2,669,782

Forward-Looking Non-GAAP Measures

Forward-Looking Statements

The information in this news release has been prepared as at April 30, 2026. Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could, or may or will occur are forward-looking statements. When used in this news release, the words "achieve", "aim", "anticipate", "commit", "could", "envisions", "estimate", "expect", "forecast", "future", "guide", "objective", "plan", "potential", "schedule", "target", "track", "will", and similar expressions are intended to identify forward-looking statements. Such statements include the Company's forward-looking guidance, including metal production (including the weighting thereof within 2026), estimated ore grades, recovery rates, project timelines, drilling targets or results, life of mine estimates, total cash costs per ounce, AISC per ounce, other expenses and cash flows; the potential for additional gold production at the Company's sites, including the potential to increase annual gold production by 20% to 30% over the next decade, exceeding four million ounces by the early 2030s; the estimated timing and conclusions of the Company's studies and evaluations; the methods by which ore will be extracted or processed; the Company's plans at Detour Lake underground, Upper Beaver, Odyssey, Hope Bay and San Nicolás, including the approval, timing, funding, completion and commissioning thereof and the commencement of production therefrom; statements concerning the Company's "fill-the-mill" strategy at Canadian Malartic; statements concerning the proposed transactions with Rupert and Aurion, and the acquisition of 70% of Fingold Ventures Ltd., including the potential benefits thereof; statements concerning other expansion projects, recovery rates, mill throughput, optimization efforts and projected exploration, including costs and other estimates upon which such projections are based; timing and amounts of capital expenditures, other expenditures and other cash needs, and expectations as to the funding thereof; estimates of future mineral reserves, mineral resources, mineral production and sales; the projected development of certain ore deposits, including estimates of exploration, development, production, closure and other capital expenditures and estimates of the timing of such exploration, development, production and closure or decisions with respect to such exploration, development, production and closure; estimates of mineral reserves and mineral resources and the effect of drill results and studies on future mineral reserves and mineral resources; the Company's ability to obtain the necessary permits and authorizations in connection with its proposed or current exploration, development and mining operations, and the anticipated timing or submission or receipt thereof; future exploration; the anticipated timing of events with respect to the Company's mine sites; the Company's plans and strategies with respect to sustainability initiatives; the sufficiency of the Company's cash resources; the Company's plans with respect to hedging and the effectiveness of its hedging strategies and the economic impact thereof; future activity with respect to the Company's unsecured revolving bank credit facility and other indebtedness; future dividend amounts, record dates and payment dates; the effect of tariffs, trade restrictions and the effect of geopolitical events on the Company, whether through availability of inputs or inflation; plans with respect to activity under the NCIB and the renewal thereof, including the anticipated increase in the purchase limit; and anticipated trends with respect to the Company's operations, exploration and the funding thereof. Such statements reflect the Company's views as at the date of this news release and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material factors and assumptions used in the preparation of the forward-looking statements contained herein, which may prove to be incorrect, include, but are not limited to, the assumptions set forth herein and in management's discussion and analysis for the year ended December 31, 2025 (the "2025 MD&A") and the Company's Annual Information Form (the "AIF") for the year ended December 31, 2025 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the year ended December 31, 2025 (the "Form 40-F") filed with the U.S. Securities and Exchange Commission (the "SEC") as well as: that there are no significant disruptions affecting operations; that production, permitting, development, expansion and the ramp-up of operations at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the Company's plans for its mining operations are not changed or amended in a material way; that the relevant metal prices, foreign exchange rates and prices for key mining and construction inputs (including labour and electricity) will be consistent with Agnico Eagle's expectations; that the effect of tariffs or trade disputes will not materially affect the price or availability of the inputs the Company uses at its operations; that Agnico Eagle's current estimates of mineral reserves, mineral resources, mineral grades and metal recovery are accurate; that there are no material delays in the timing for completion of ongoing growth projects; that seismic activity at the Company's operations at LaRonde, Goldex, Fosterville and other properties is as expected by the Company and that the Company's efforts to mitigate its effect on mining operations, including with respect to community relations, are successful; that the Company's current plans to address climate change and reduce greenhouse gas emissions are successful; that the Company's current plans to optimize production are successful; that there are no material variations in the current tax and regulatory environment; that governments, the Company or others do not take measures in response to pandemics or other health emergencies or otherwise that, individually or in the aggregate, materially affect the Company's ability to operate its business or its productivity; and that measures taken relating to, or other effects of, pandemics or other health emergencies do not affect the Company's ability to obtain necessary supplies and deliver them to its mine sites. Many factors, known and unknown, could cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, project development, capital expenditures and other costs; foreign exchange rate fluctuations; inflationary pressures; financing of additional capital requirements; cost of exploration and development programs; seismic activity at the Company's operations, including at LaRonde, Goldex and Fosterville; mining risks; community protests, including by Indigenous groups; risks associated with foreign operations; risks associated with joint ventures; governmental and environmental regulation; the volatility of the Company's stock price; risks associated with the Company's currency, fuel and by-product metal derivative strategies; the current interest rate environment; the potential for major economies to encounter a slowdown in economic activity or a recession; the potential for increased conflict or hostilities in various regions, including Europe, South America and the Middle East; and the extent and manner of communicable diseases or outbreaks, and measures taken by governments, the Company or others to attempt to mitigate the spread thereof may directly or indirectly affect the Company. For a more detailed discussion of such risks and other factors that may affect the Company's ability to achieve the expectations set forth in the forward-looking statements contained in this news release, see the AIF and 2025 MD&A filed on SEDAR+ at www.sedarplus.ca and included in the Form 40-F filed on EDGAR at www.sec.gov, as well as the Company's other filings with the Canadian securities regulators and the SEC. Other than as required by law, the Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Notes to Investors Regarding Certain Project Evaluations

The forecast parameters surrounding certain projects, including Detour Lake underground, Upper Beaver, Hope Bay and the "fill-the-mill" strategy at Canadian Malartic (Odyssey Shaft #1, Odyssey Shaft #2, Marban, Wasamac), were based on internal evaluations, which are preliminary in nature and include inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the forecast production amounts will be realized.

The basis for the internal evaluations and the qualifications and assumptions made by the qualified persons who undertook the internal evaluations are set out in this news release and the news releases dated June 29, 2024 for Detour Lake underground and dated July 31, 2024 for Upper Beaver. The results of the internal evaluations had no impact on the results of any pre-feasibility or feasibility study. An updated internal evaluation is expected in the second quarter of 2026 for Hope Bay, in the first quarter of 2027 for the "fill-the-mill" strategy at Canadian Malartic and in mid-2027 for Detour Lake and Upper Beaver.

Scientific and Technical Information

Additional Information

APPENDIX A – EXPLORATION DETAILS

East Gouldie and Odyssey deposits at Odyssey mine

Drill hole	Deposit / zone	From (metres)	To (metres)	Depth of midpoint below surface (metres)	Estimated true width (metres)	Gold grade (g/t) (uncapped)	Gold grade (g/t) (capped)*
MEX25-346WZB	East Gouldie	2,034.5	2,056.2	1,909	21.0	2.0	2.0
MEX25-348ZA	East Gouldie	1,875.1	1,905.6	1,711	22.6	1.7	1.7
UGEG-016-010	East Gouldie	777.5	795.0	869	14.3	2.6	2.6
UGEG-071-031	East Gouldie	641.0	665.5	1,057	24.2	2.8	2.8
UGEG-095-010	East Gouldie	160.0	177.2	999	14.7	3.0	3.0
UGEG-095-014	East Gouldie	159.0	170.4	1,061	10.3	5.5	5.5
and	East Gouldie	283.0	293.6	1,153	9.8	5.8	5.8
and	East Gouldie	315.4	322.2	1,175	6.3	5.1	5.1
and	East Gouldie	327.9	345.4	1,187	15.8	3.0	3.0
UGEG-103-005	East Gouldie	131.0	168.4	1,089	36.0	6.9	6.7
including		141.1	157.0	1,089	15.3	13.1	12.6
MEX25-350Z	East Gouldie	1,512.0	1,522.5	1,065	10.0	2.2	2.2
UGOD-051-017	Odyssey internal	495.0	535.0	884	40.0**	1.9	1.9
UGOD-057-005	Odyssey internal	555.2	561.2	978	6.0**	9.8	9.8
UGOD-057-012	Odyssey internal	538.5	551.4	1,017	12.9**	7.1	6.1
including		546.5	551.4	1,020	4.9**	14.7	12.0
and	Odyssey internal	582.0	635.5	1,067	53.5**	9.7	9.0
UGOD-057-013	Odyssey internal	669.5	681.0	1,118	11.5**	4.6	4.1
including		677.7	680.0	1,121	2.4**	17.2	14.8
and	Odyssey North	700.5	726.6	1,149	19.7	3.1	3.1
including		716.5	721.0	1,153	3.4	6.3	6.3
UGOD-064-018	Odyssey internal	355.5	369.0	891	13.5**	4.3	4.3
UGOD-064-019	Odyssey internal	397.8	425.4	992	27.6**	2.8	2.8
including		408.0	416.0	992	8.0**	5.6	5.6
and	Odyssey North	507.5	518.0	1,077	10.5**	2.1	2.1
and	Odyssey North	524.0	534.5	1,091	10.5**	2.1	2.1

*Results from East Gouldie and Odyssey deposits use a capping factor of 20 g/t gold.

**Core length. True width undetermined.

West Pit and West Extension zones at Detour Lake

Drill hole	Zone	From (metres)	To (metres)	Depth of midpoint below surface (metres)	Estimated true width (metres)	Gold grade (g/t) (uncapped)*
DLM25-1240	West Extension	1,089.0	1,092.5	922	3.1	10.0
DLM25-1243	West Extension	837.0	842.1	734	4.4	28.0
and	West Extension	910.9	913.9	794	2.6	11.7
DLM25-1245	West Extension	592.5	604.0	497	10.1	10.7
including		601.0	604.0	501	2.6	37.8
DLM25-1246	West Extension	889.8	897.1	801	6.0	4.3
DLM25-1255	West Extension	774.0	805.3	669	27.4	2.6
DLM25-1274	West Extension	911.0	914.0	797	2.6	14.0
and	West Extension	930.0	941.0	816	9.5	3.6
DLM25-1282AW	West Extension	580.8	586.0	526	4.9	6.5
DLM25-1282AW1	West Extension	1,176.2	1,186.0	1,000	9.2	5.9
DLM26-1299	West Pit	99.0	102.0	84	2.5	14.0
and	West Pit	215.4	231.7	187	14.1	8.9
including		215.4	220.0	182	4.0	18.3
and including		226.8	231.7	191	4.2	11.1
DLM26-1313	West Pit	237.0	264.0	210	23.2	2.9
including		257.0	264.0	218	6.0	8.1
and	West Pit	278.5	288.9	238	9.0	14.9

*Results from Detour Lake are uncapped.

Upper Beaver deposit

Drill hole	Zone	From (metres)	To (metres)	Depth of mid-point below surface (metres)	Estimated true width (metres)	Gold grade (g/t) (uncapped)	Gold grade (g/t) (capped)	Copper grade (%) (uncapped)	Copper grade (%) (capped)*
KLUB25-881W3	Zone 201	587.6	594.4	555	6.4	7.9	7.9	0.98	0.98
including	Zone 201	591.0	592.8	555	1.8	15.0	15.0	0.85	0.85
KLUB25-881W5	Zone 201	615.9	619.2	584	2.9	18.3	18.3	1.19	1.19
including	Zone 201	618.4	619.2	585	0.7	58.0	58.0	1.48	1.48
KLUB26-913A	Zone 201	597.5	602.0	531	4.2	4.5	4.5	1.07	1.07
including	Zone 201	597.5	599.0	530	1.4	10.6	10.6	1.29	1.29
KLUB26-913W5	Zone 201	629.1	632.6	574	3.2	9.7	9.7	1.52	1.52
KLUB26-913W6	Zone 201	647.7	653.8	599	6.0	8.3	8.3	0.40	0.40
including	Zone 201	651.0	652.0	599	1.0	44.3	44.3	1.64	1.64
and	Zone 201	656.5	663.5	607	6.9	6.0	6.0	0.53	0.53
KLUB26-916W2	Zone 201	553.0	555.4	501	1.8	2.4	2.4	3.17	2.77
KLUB26-915A	Zone 107	595.5	596.5	535	0.9	45.5	45.5	0.21	0.21

*At Upper Beaver, results use capping factors of 85 g/t gold and 6.5% copper for Zone 201 and 135 g/t gold and 4.0% copper for Zone 107.

Exploration Drill Collar Coordinates

Drill hole	UTM East*	UTM North*	Elevation (metres above sea level)	Azimuth (degrees)	Dip (degrees)	Length (metres)
Odyssey mine
MEX25-346WZB	717451	5334739	309	143	-78	2,221
MEX25-348ZA	717440	5334731	310	182	-75	3,000
UGEG-016-010	718856	5333901	113	163	-66	845
UGEG-071-031	717758	5333977	-345	143	-42	711
UGEG-095-010	717593	5333755	-619	143	-27	375
UGEG-095-014	717591	5333756	-619	150	-56	360
UGEG-103-005	717561	5333797	-699	214	-34	370
MEX25-350Z	716852	5334693	316	199	-68	1,614
UGOD-051-017	718102	5334207	-203	20	-48	585
UGOD-057-005	718006	5334110	-261	14	-51	700
UGOD-057-012	718006	5334110	-261	14	-57	756
UGOD-057-013	718006	5334110	-261	18	-55	767
UGOD-064-018	717907	5334312	-333	344	-44	435
UGOD-064-019	717907	5334311	-333	2	-59	569
Detour Lake
DLM25-1240	584832	5542449	296	188	-59	1,176
DLM25-1243	586037	5542184	295	187	-66	975
DLM25-1245	586199	5542065	292	181	-58	762
DLM25-1246	585156	5542251	287	188	-65	1,113
DLM25-1252	586120	5541916	290	179	-67	720
DLM25-1255	585837	5542204	291	192	-60	951
DLM25-1274	585796	5542210	291	186	-65	951
DLM25-1282AW	586597	5542188	298	179	-68	669
DLM25-1282AW1	586597	5542188	298	179	-68	1,253
DLM26-1299	587148	5541601	290	177	-59	351
DLM26-1313	587187	5541623	291	178	-59	402
Upper Beaver
KLUB25-881W3	591667	5335847	304	151	-74	642
KLUB25-881W5	591667	5335847	304	151	-74	656
KLUB26-913A	591687	5335928	305	155	-71	647
KLUB26-913W5	591687	5335928	305	155	-71	689
KLUB26-913W6	591687	5335928	305	155	-71	700
KLUB26-916W2	591667	5335847	304	148	-70	593
KLUB26-915A	591844	5336055	303	149	-69	641

*Coordinate Systems: NAD 83 UTM Zone 17N for Odyssey; NAD 1983 UTM Zone 17N for Detour Lake and Upper Beaver.

APPENDIX B – FINANCIAL INFORMATION


AGNICO EAGLE MINES LIMITED
SUMMARY OF OPERATIONS KEY PERFORMANCE INDICATORS
(thousands of United States dollars, except where noted)


	Three Months Ended March 31,
	2026	2025

Net income - key line items:
Revenue from mine operations:
LaRonde	401,927	279,083
Canadian Malartic	754,853	422,047
Goldex	166,536	95,969
Quebec	1,323,316	797,099
Detour Lake	944,230	443,886
Macassa	306,444	235,662
Ontario	1,250,674	679,548
Meliadine	376,594	258,289
Meadowbank	594,426	405,085
Nunavut	971,020	663,374
Fosterville	180,676	109,829
Australia	180,676	109,829
Kittila	251,898	161,088
Finland	251,898	161,088
Pinos Altos	122,272	57,310
Mexico	122,272	57,310
Corporate and Other	(267)	--
Revenues from mining operations	$ 4,099,589	$ 2,468,248
Production costs	955,587	767,733
Amortization of property, plant and mine development	420,266	416,800
Gross profit	2,723,736	1,283,715
Exploration, corporate and other	164,112	89,144
Income before income and mining taxes	2,559,624	1,194,571
Income and mining taxes expense	864,163	379,840
Net income for the period	$ 1,695,461	$ 814,731
Net income per share -- basic	$ 3.39	$ 1.62
Net income per share -- diluted	$ 3.38	$ 1.62

Cash flows:
Cash provided by operating activities	$ 1,345,868	$ 1,044,246
Cash used in investing activities	$ (764,859)	$ (649,940)
Cash used in financing activities	$ (334,652)	$ (182,966)

Realized prices:
Gold (per ounce)	$ 4,861	$ 2,891
Silver (per ounce)	$ 83.90	$ 33.07

AGNICO EAGLE MINES LIMITED
SUMMARY OF OPERATIONS KEY PERFORMANCE INDICATORS
(thousands of United States dollars, except where noted)


	Three Months Ended March 31,
	2026	2025

Payable production ⁽ⁱ⁾ :
Gold (ounces):
LaRonde	81,596	91,491
Canadian Malartic	166,216	159,773
Goldex	29,372	30,016
Quebec	277,184	281,280
Detour Lake	177,019	152,838
Macassa	55,593	86,028
Ontario	232,612	238,866
Meliadine	93,831	98,512
Meadowbank	113,862	140,126
Nunavut	207,693	238,638
Fosterville	41,443	43,615
Australia	41,443	43,615
Kittila	48,527	54,104
Finland	48,527	54,104
Pinos Altos	17,650	17,291
Mexico	17,650	17,291
Total gold (ounces):	825,109	873,794

Silver (thousands of ounces)	599	602
Zinc (tonnes)	1,019	1,742
Copper (tonnes)	1,479	1,384

AGNICO EAGLE MINES LIMITED
SUMMARY OF OPERATIONS KEY PERFORMANCE INDICATORS
(thousands of United States dollars, except where noted)


	Three Months Ended March 31,
	2026	2025

Payable metal sold ⁽ⁱⁱ⁾ :
Gold (ounces):
LaRonde	78,447	90,509
Canadian Malartic	155,297	144,663
Goldex	31,756	30,693
Quebec	265,500	265,865
Detour Lake	191,349	155,480
Macassa	62,034	81,000
Ontario	253,383	236,480
Meliadine	77,250	89,270
Meadowbank	121,761	140,350
Nunavut	199,011	229,620
Fosterville	38,000	38,000
Australia	38,000	38,000
Kittila	52,600	56,000
Finland	52,600	56,000
Pinos Altos	21,157	17,000
Mexico	21,157	17,000
Total gold (ounces):	829,651	842,965

Silver (thousands of ounces)	617	527
Zinc (tonnes)	1,184	1,812
Copper (tonnes)	1,509	1,398

Notes:
(i) Payable production (a non-GAAP non-financial performance measure) is the quantity of mineral produced during a period contained in products that are or will be sold by the Company, whether such products are sold during the period or held as inventories at the end of the period. For the three months ended March 31, 2026 and 2025, it excludes 418 payable gold ounces and 1,811 payable gold ounces produced at La India along with 76 payable gold ounces and 25 payable gold ounces produced at Creston Mascota, respectively.
(ii) Payable metals sold at Canadian Malartic, Detour Lake and Macassa exclude the in-kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines. For the three months ended March 31, 2025, it excludes 2,500 payable gold ounces sold at La India.

AGNICO EAGLE MINES LIMITED
CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS
(thousands of United States dollars, except share amounts)
(Unaudited)

	As at	As at
	March 31, 2026	December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$ 3,111,869	$ 2,866,053
Inventories	1,578,848	1,698,830
Fair value of derivative financial instruments	28,172	34,428
Other current assets	410,385	394,631
Total current assets	5,129,274	4,993,942
Non-current assets:
Goodwill	4,157,672	4,157,672
Property, plant and mine development	23,027,704	22,850,540
Investments	1,814,118	1,508,252
Other assets	1,026,933	960,885
Total assets	$ 35,155,701	$ 34,471,291

LIABILITIES
Current liabilities:
Accounts payable and accrued liabilities	$ 1,090,948	$ 1,033,444
Share based liabilities	36,881	31,722
Income taxes payable	250,218	1,226,347
Reclamation provision	195,227	144,537
Lease obligations	32,573	30,480
Fair value of derivative financial instruments	23,475	5,676
Total current liabilities	1,629,322	2,472,206
Non-current liabilities:
Long-term debt	196,548	196,271
Reclamation provision	1,291,147	1,318,476
Lease obligations	90,098	94,719
Share based liabilities	12,615	23,921
Deferred income and mining tax liabilities	5,450,784	5,373,013
Other liabilities	210,041	250,221
Total liabilities	8,880,555	9,728,827

EQUITY
Common shares:
Outstanding -- 500,653,224 common shares issued, less 616,987 shares held in trust	18,759,399	18,699,862
Stock options	164,637	166,775
Retained earnings	6,814,704	5,463,906
Other reserves	536,406	411,921
Total equity	26,275,146	24,742,464
Total liabilities and equity	$ 35,155,701	$ 34,471,291

AGNICO EAGLE MINES LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF INCOME
(thousands of United States dollars, except per share amounts)
(Unaudited)

	Three Months Ended March 31,
	2026	2025

REVENUES
Revenues from mining operations	$ 4,099,589	$ 2,468,248

COST OF SALES
Production costs	955,587	767,733
Amortization of property, plant and mine development	420,266	416,800
Gross profit	2,723,736	1,283,715

EXPENSES (INCOME)
Exploration and corporate development	52,556	41,805
General and administrative	77,850	60,709
Finance costs	15,756	22,444
Gain on derivative financial instruments	(4,700)	(68,859)
Foreign currency translation gain	(733)	(60)
Care and maintenance	22,596	13,901
Other income and expenses	787	19,204
Income before income and mining taxes	2,559,624	1,194,571
Income and mining taxes expense	864,163	379,840
Net income for the period	$ 1,695,461	$ 814,731

Net income per share - basic	$ 3.39	$ 1.62
Net income per share - diluted	$ 3.38	$ 1.62
Adjusted net income per share - basic⁽ⁱ⁾	$ 3.41	$ 1.53
Adjusted net income per share - diluted⁽ⁱ⁾	$ 3.40	$ 1.53

Weighted average number of common shares outstanding (in thousands):
Basic	500,240	502,410
Diluted	501,729	503,773

Notes:
⁽ⁱ⁾Adjusted net income per share is not a recognized measure under IFRS Accounting Standards and this data may not be comparable to data reported by other companies. SeeNote Regarding Certain Measures of Performance – Adjusted Net Income and Adjusted Net Income per Share for a discussion of the composition and usefulness of this measure and a reconciliation to the nearest IFRS Accounting Standards measure

AGNICO EAGLE MINES LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
(thousands of United States dollars)
(Unaudited)

	Three Months Ended March 31,
	2026	2025

OPERATING ACTIVITIES
Net income for the period	$ 1,695,461	$ 814,731
Add (deduct) adjusting items:
Amortization of property, plant and mine development	420,266	416,800
Deferred income and mining taxes	59,537	18,491
Unrealized loss (gain) on currency and commodity derivatives	24,054	(31,120)
Unrealized gain on warrants	(18,989)	(54,168)
Stock-based compensation	34,931	27,393
Foreign currency translation gain	(733)	(60)
Other	16,835	17,323
Changes in non-cash working capital balances:
Income taxes	(989,080)	(176,739)
Inventories	36,800	30,917
Other current assets	(11,014)	31,390
Accounts payable and accrued liabilities	77,800	(50,712)
Cash provided by operating activities	1,345,868	1,044,246

INVESTING ACTIVITIES
Additions to property, plant and mine development	(613,749)	(450,124)
Purchase of O3 Mining, net of cash and cash equivalents acquired	--	(121,960)
Contributions for acquisition of mineral assets	(5,280)	(3,825)
Purchase of equity securities and other investments	(144,702)	(68,057)
Other investing activities	(1,128)	(5,974)
Cash used in investing activities	(764,859)	(649,940)

FINANCING ACTIVITIES
Repayment of lease obligations	(7,238)	(9,178)
Dividends paid	(203,165)	(175,567)
Repurchase of common shares	(167,833)	(60,050)
Proceeds on exercise of stock options	31,434	52,026
Common shares issued	12,150	9,803
Cash used in financing activities	(334,652)	(182,966)
Effect of exchange rate changes on cash and cash equivalents	(541)	541
Net increase in cash and cash equivalents during the period	245,816	211,881
Cash and cash equivalents, beginning of period	2,866,053	926,431
Cash and cash equivalents, end of period	$ 3,111,869	$ 1,138,312

SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid	$ 563	$ 1,185
Income and mining taxes paid	$ 1,788,322	$ 536,602

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SOURCE Agnico Eagle Mines Limited