Agnico Eagle Mines : Supplemental Information - May 2020

Supplemental Information

MAY 2020

Forward Looking Statements

The information in this presentation has been prepared as at May 8, 2020. Certain statements contained in this presentation 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". When used in this presentation, the words "anticipate", "could", "estimate", "expect", "forecast", "future", "plan", "possible", "potential", "will" and similar expressions are intended to identify forward-looking statements. Such statements include, without limitation: the Company's forward-looking production guidance, including estimated ore grades, recovery rates, project timelines, drilling results, metal production, life of mine estimates, total cash costs per ounce, all-in sustaining costs per ounce, minesite costs per tonne, other expenses, cash flows and free cash flow; the estimated timing and conclusions of technical studies and evaluations; the methods by which ore will be extracted or processed; statements concerning the Company's expansion plans at Kittila, Meliadine Phase 2 and Amaruq Phase 2; and the Company's ramp-up of activities at Meliadine and Amaruq, including the timing, funding, completion and commissioning thereof; statements concerning other expansion projects, recovery rates, mill throughput, optimization and projected exploration, including costs and other estimates upon which such projections are based; statements regarding timing and amounts of capital expenditures and other expenditures; estimates of future mineral reserves, mineral resources, mineral production, optimization efforts and sales; estimates of future capital expenditures and other cash needs, and expectations as to the funding thereof; 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; estimates of mineral reserves and mineral resources and the effect of drill results on future mineral reserves and mineral resources; statements regarding 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 thereof; statements regarding anticipated future exploration; the anticipated timing of events with respect to the Company's mine sites; and statements regarding the sufficiency of the Company's cash resources and expected uses of cash and other statements regarding 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 presentation 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 ("MD&A") and the Company's Annual Information Form ("AIF") for the year ended December 31, 2019 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the year ended December 31, 2019 ("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 relevant metal prices, foreign exchange rates and prices for key mining and construction supplies will be consistent with Agnico Eagle's expectations; 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 and other properties is as expected by the Company; that the Company's current plans to optimize production are successful; and that there are no material variations in the current tax and regulatory environment. 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; financing of additional capital requirements; cost of exploration and development programs; seismic activity at the Company's operations, including the LaRonde mine; mining risks; community protests, including by First Nations groups; risks associated with foreign operations; governmental and environmental regulation; the volatility of the Company's stock price; and risks associated with the Company's currency, fuel and by-product metal derivative strategies. 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 presentation, see the AIF and MD&A filed on SEDAR at www.sedar.com 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.

Currency

All amounts in this presentation are expressed in U.S. dollars except as otherwise noted.

Further Information

For further details on Agnico Eagle's first quarter of 2020 results, please see the Company's news release dated April 30, 2020.

Supplemental Information 2

Northern Business

Supplemental Information

Abitibi Region

Supplemental Information 4

LaRonde Complex - Numerous Opportunities to Enhance Production

LaRonde 3

• Potential to extend at depth (high-grade core in West mine area)

LaRonde Zone 6

• Subparallel to LaRonde main zone, drill testing ongoing

LaRonde Zone 5 (LZ5)

• Declared commercial production in June, 2018
• Potential for improvement in costs and growth production
• A great site to test new technologies

LaRonde Zone 11-3

• Good potential, low risk

Bousquet Fringe Zone /

Ellison

• Could provide expansion potential at LZ5

See AEM February 13, 2020 press release and appendix for detailed breakdown of mineral reserves and mineral resources	Supplemental Information 5

Goldex

2020 Exploration Focused on Expanding Deep 2 and South Zone Mineral Reserves and Mineral Resources

• Potential for increased throughput from Deep 1 and potential for additional development of Deep 2. Also potential for increased gold production from the South Zone
• In Q1 2020, mining rates at the South Zone were better than expected, averaging ~497 tpd over the 82 days of operation. Mining rates at the South Zone are expected to ramp up to 750 tpd in Q4 2020 (averaging ~500 tpd for FY 2020). Continuing to evaluate the potential for the South Zone to provide additional incremental ore feed to the Goldex mill
• An intensive drill program at Goldex in 2019 led to the addition of 264koz of gold to the mineral reserves in the South, Deep 2 and Deep 1 zones (before mining). Drilling will continue in 2020

See AEM February 13, 2020 press release and appendix for detailed breakdown of mineral reserves and mineral resources	Supplemental Information 6

Canadian Malartic JV - Property Package

Supplemental Information 7

Canadian Malartic JV - Odyssey and East Malartic Projects

Principle Mineralized Zones

Supplemental Information 8

East Malartic and Odyssey Projects

Focus on Expanding Mineral Resources and Evaluating Potential Development Scenarios

	Mineral Reserve & Mineral Resource Data (as at December 31, 2019) (50% portion)		Tonnage	Au Grade	Au
		(000's tonnes)	(g/t)	(000's oz)
	Indicated mineral resources
	Odyssey		1,011	2.10	68
	East Malartic		4,962	2.18	347
	Inferred mineral resources
	Odyssey		11,684	2.22	833
	East Malartic		39,382	2.05	2,596
	East Gouldie		12,760	3.34	1,369
See AEM February 13, 2020 press release and appendix for detailed breakdown of mineral reserves and mineral resources		Supplemental Information	9

Kirkland Lake Projects - Local Geology Map

2020 Drilling Focused on Converting and Extending Mineral Resources at Upper Beaver and Upper Canada

Supplemental Information 10

Kittila - Composite Longitudinal Section

Drilling Focused on Extending Known Mineralized Zones at the Sisar and Rimpi Zones

	Mineral Reserve & Mineral Resource Data (as at December 31, 2019)	Tonnage (000's tonnes)	Au Grade (g/t)	Au (000's oz)
	Proven & Probable mineral reserves
	Underground	28,925	4.40	4,096
	Measured & Indicated mineral resources
	Open pit	229	3.41	25
	Underground	17,916	2.59	1,495
	Total measured & indicated mineral resources	18,145	2.60	1,520
	Inferred mineral resources
	Open pit	373	3.89	47
	Underground	13,447	3.90	1,688
	Total inferred mineral resources	13,820	3.90	1,735

See AEM February 13, 2020 press release and appendix for detailed breakdown of mineral reserves and mineral resources	Supplemental Information 11

Kittila Mine Expansion

Increased Production and Lower Operating Costs Expected by 2021

• In February 2018, Agnico's Board of Directors approved an expansion at Kittila to add a deep shaft and increase expected mill throughput by ~25% to 2.0M tonnes per annum ("mtpa")
• The expansion will be phased in over four years at a capital cost of ~160M to 170M euros
• Expected to result in a 50,000 to 70,000 ounce annual increase in gold production at reduced operating costs by 2021

Kittila Expansion Parameters
Average annual mill throughput	mtpa	2.0
Average mill recovery	%	86%
Average gold grade	g/t	4.64
Average annual gold production	ozs	250,000 to 260,000
Average total cash costs per ounce	US$	$685-$700
Life-of-mine	years	14
Exchange rate	euro:US$	1.2

• The shaft is expected to provide access to the mineral resource areas below 1,150 metres which could further extend the mine life
• The Company is currently evaluating the timing of the final mill tie-in work, which was originally scheduled to occur during a planned 4 to 5-week mill maintenance shutdown in Q3 2020
• In Q1 2020, construction of the shaft head frame continued to progress as expected and rockline excavation and the raise boring of ore silos were completed. However, work related to the shaft sinking ceased in mid-March as Canadian workers contracted to work on the project returned to Canada due to COVID-19 related travel restrictions. A delay of at least 3 months is expected and as a result, capital expenditures relating to the shaft project of approximately $6M have been deferred to 2021. The full expansion project is now expected to be completed in late 2021

Supplemental Information 12

Nunavut - A Strategic Production Platform

• 20% of Canada's land mass (~2.0M km2) with a population of ~35,000
• Agnico Eagle in Nunavut
• • Meadowbank mine - produced over 3 million ounces from 2010 to 2019
  • Meliadine mine and Amaruq satellite deposit were completed on scheduled and on budget (total $1.23 billion) in 2019
  • Potential for these new mines to produce a combined ~700koz-800koz annually
• Competitive Advantage
• • Over 10 years experience in the region
  • Logistics from Abitibi/Montreal
  • Relationships with governments, permitting,

community and suppliers	Detailed information on mineral reserves and mineral resources can be found in the February 13, 2020 press release
	Supplemental Information 13

Meliadine Mine - Composite Longitudinal Section

Exploration Encounters Higher Grades at Depth in Tiriganiaq

	Mineral Reserve & Mineral Resource Data (as at December 31, 2019)	Tonnage (000's tonnes)	Au Grade (g/t)	Au (000's oz)
	Proven & Probable mineral reserves
	Open pit	5,816	4.69	876
	Underground	14,933	6.65	3,191
	Total proven & probable reserves	20,749	6.10	4,067
	Measured & Indicated mineral resources
	Open pit	11,065	3.11	1,106
	Underground	13,655	3.85	1,692
	Total measured & indicated mineral resources	24,721	3.52	2,799
	Inferred mineral resources
	Open pit	1,321	4.42	188
	Underground	13,290	5.72	2,443
	Total inferred mineral resources	14,611	5.60	2,631

See AEM February 13, 2020 press release and appendix for detailed breakdown of mineral reserves and mineral resources	Supplemental Information 14

Meliadine Project

Near Mine and Regional Exploration will Continue in 2020

Supplemental Information 15

Amaruq Project - Local Geology Map

2020 Exploration Focused on Regional Open-Pit Targets

Supplemental Information 16

Amaruq Project - Composite Longitudinal Section

Initial Underground Mineral Reserve Declared at Whale Tail Deposit in 2019

	Mineral Reserve & Mineral Resource Data (as at December 31, 2019)	Tonnage (000's tonnes)	Au Grade (g/t)	Au (000's oz)
	Proven & Probable mineral reserves
	Open pit	22,773	3.74	2,741
	Underground	3,303	5.43	577
	Total P&P mineral resources	26,075	3.96	3,318
	Indicated mineral resources
	Open pit	6,679	3.20	687
	Underground	3,102	3.84	383
	Total indicated mineral resources	9,782	3.40	1,070
	Inferred mineral resources
	Open pit	568	4.78	87
	Underground	8,073	5.52	1,432
	Total inferred mineral resources	8,642	5.47	1,520
See AEM February 13, 2020 press release and appendix for detailed breakdown of mineral reserves and mineral resources				Supplemental Information 17

Southern Business

Supplemental Information

Pinos Altos / Creston Mascota - Local Geology Map

Reyna de Plata and Cubiro Drilling Continues to Extend Mineralization

See AEM February 13, 2020 press release and appendix for detailed breakdown of mineral reserves and mineral resources	Supplemental Information 19

Pinos Altos / Creston Mascota - Cubiro Longitudinal Section

See AEM February 13, 2020 press release and appendix for detailed breakdown of mineral reserves and mineral resources	Supplemental Information 20

La India - Local Geology Map

Chipriona Drilling Continues to Expand Sulphide Mineralization

See AEM February 13, 2020 press release and appendix for detailed breakdown of mineral reserves and mineral resources	Supplemental Information 21

Santa Gertrudis - Local Geology Map

Exploration Extends Known Deposits; Expands High-Grade Mineralization at Amelia

➢ Agnico Eagle holds a 100% interest in the 42,000- hectare Santa Gertrudis gold property

➢ Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits

➢ Inferred mineral resources of 1.2Moz at year end 2019

➢ 25,000m of drilling planned in 2020 to expand mineral resources and test new targets

➢ The Santa Gertrudis project appears to have potential to eventually be a similar sized operation to La India

See AEM February 13, 2020 press release and appendix for detailed breakdown of mineral reserves and mineral resources	Supplemental Information 22

Santa Gertrudis - Amelia Deposit Composite Cross Section

Initial Inferred Mineral Resource Declared at the Amelia Deposit in 2019

➢ Drilling has extended high grade mineralization at the Amelia deposit on the Trinidad trend

➢ Declaration of initial underground inferred mineral resource - 451koz in higher grade sulphide material

See AEM February 13, 2020 press release and appendix for detailed breakdown of mineral reserves and mineral resources	Supplemental Information 23

Santa Gertrudis Project - Espiritu Santo Longitudinal Section

Supplemental Information 24

Mineral Reserves - December 31, 2019

Supplemental Information 25

Mineral Resources - December 31, 2019

Mineral reserves are not a subset of mineral resources. Tonnage amounts and contained metal amounts presented in this table have been rounded to the nearest thousand, so aggregate amounts may differ from column totals.

Supplemental Information 26

Notes to Investors Regarding The Use of Mineral Resources

Notes to Investors Regarding the Use of Mineral Resources

The mineral reserve and mineral resource estimates contained in this presentation have been prepared in accordance with the Canadian securities regulatory authorities' (the "CSA") National Instrument 43-101Standards of Disclosure for Mineral Projects ("NI 43-101"). These standards are similar to those used by SEC Industry Guide 7, as interpreted by the SEC staff. However, the definitions in NI 43-101 differ in certain respects from those under SEC Industry Guide 7. Accordingly, mineral reserve and mineral resource information contained in this presentation may not be comparable to similar information disclosed by United States companies. Under the SEC's Industry Guide 7, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made.

For United States reporting purposes, the SEC has adopted amendments to its disclosure rules (the "SEC Modernization Rules") to modernize the mining property disclosure requirements for issuers whose securities are registered with the SEC under the United States Securities Exchange Act of 1934, as amended (the "Exchange Act"), which became effective February 25, 2019. The SEC Modernization Rules more closely align the SEC's disclosure requirements and policies for mining properties with current industry and global regulatory practices and standards, including NI 43- 101, and replace the historical property disclosure requirements for mining registrants that were included in SEC Industry Guide 7. Issuers must begin to comply with the SEC Modernization Rules in their first fiscal year beginning on or after January 1, 2021, though Canadian issuers that report in the United States using the MJDS may still use NI 43-101 rather than the SEC Modernization Rules when using the SEC's MJDS registration statement and annual report forms. SEC Industry Guide 7 will remain effective until all issuers are required to comply with the SEC Modernization Rules, at which time SEC Industry Guide 7 will be rescinded.

As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources." In addition, the SEC has amended definitions of "proven mineral reserves" and "probable mineral reserves" in the SEC Modernization Rules, with definitions that are substantially similar to those used in NI 43-101.

United States investors are cautioned that while the SEC now 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 presentation 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 any part or all 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 presentation 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 and mineral reserves are not reported as a subset of mineral resources.

Assumptions used for the December 31, 2019 mineral reserves estimate at all mines and advanced projects reported by the Company

		Metal prices			Exchange rates
	Gold (US$/oz)	Silver (US$/oz)	Copper (US$/lb)	Zinc (US$/lb)	C$ per US$1.00	Mexican peso per	US$ per €1.00
	US$1.00
Long-life operations and					C$1.25	MXP17.00	US$1.15
projects
Short-life operations -	$1,200	$15.50	$2.50	$1.00
Creston Mascota (Bravo) and
				C$1.30	MXP18.00	Not applicable
Sinter satellite operations at
Pinos Altos
Upper Beaver*, Canadian	$1,200	Not applicable	$2.75	Not applicable	C$1.25	Not applicable	Not applicable
Malartic mine**

*The Upper Beaver project has a net smelter return (NSR) cut-off value of C$125/tonne

**The Canadian Malartic mine uses a cut-off grade between 0.40 g/t and 0.43 g/t gold (depending on the deposit)

Supplemental Information 27

Notes to Investors Regarding The Use of Mineral Resources

NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". Mineral resources that are not mineral reserves do not have demonstrated economic viability.

A mineral reserve is the economically mineable part of a measured and/or indicated mineral resource. It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors. Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified. The mineral reserves presented in this presentation are separate from and not a portion of the mineral resources.

Modifying factors are considerations used to convert mineral resources to mineral reserves. These include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors.

A proven mineral reserve is the economically mineable part of a measured mineral resource. A proven mineral reserve implies a high degree of confidence in the modifying factors. A probable mineral reserve is the economically mineable part of an indicated and, in some circumstances, a measured mineral resource. The confidence in the modifying factors applying to a probable mineral reserve is lower than that applying to a proven mineral reserve.

A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling.

A measured mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with confidence sufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit. Geological evidence is derived from detailed and reliable exploration, sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation. An indicated mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately detailed and reliable exploration, sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation. An inferred mineral resource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity.

Investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is economically or legally mineable.

A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments of applicable modifying factors, together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate, at the time of reporting, that extraction is reasonably justified (economically mineable). The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution to proceed with, or finance, the development of the project. The confidence level of the study will be higher than that of a pre-feasibility study.

The effective date for all of the Company's mineral resource and mineral reserve estimates in this presentation is December 31, 2019. Additional information about each of the mineral projects that is required by NI 43-101, sections 3.2 and 3.3 and paragraphs 3.4 (a), (c) and (d), as well as other information, can be found in the Technical Reports filed by Agnico Eagle, which may be found at www.sedar.com. Other important operating information can be found in the Company's AIF and Form 40-F.

Scientific and Technical Data

The scientific and technical information contained in this presentation relating to Quebec operations has been approved by Daniel Paré, Eng., Vice-President Operations - Eastern Canada; relating to Nunavut operations has been approved by Dominique Girard, Eng., Vice-President, Nunavut Operations; relating to the Finland operations has been approved by Francis Brunet, Eng., Corporate Director, Business Strategy; relating to Southern Business operations has been approved by Marc Legault, Eng., Senior Vice President, Operations - U.S.A. & Latin America; and relating to exploration has been approved by Guy Gosselin, Eng. and P.Geo., Senior Vice-President, Exploration, each of whom is a "Qualified Person" for the purposes of NI 43-101.

The scientific and technical information relating to Agnico Eagle's mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approved by Dyane Duquette, P.Geo., Corporate Director, Reserves Development of the Company; relating to mineral reserves and mineral resources at the Canadian Malartic mine and other Partnership projects such as Odyssey, East Malartic and East Gouldie projects, has been approved by Sylvie Lampron, Eng., Senior Project Mine Engineer at Canadian Malartic Corporation (for engineering) and Pascal Lehouiller, P.Geo., Senior Resource Geologist at Canadian Malartic Corporation (for geology), each of whom is a "Qualified Person" for the purposes of NI 43-101.

Supplemental Information 28

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