Agnico Eagle Mines : BofA Global Metals, Mining & Steel Conference 2023

BofA Global Metals, Mining & Steel Conference

May 16-18, 2023

Building for the Future

FORWARD LOOKING STATEMENTS

The information in this presentation has been prepared as at May 11, 2023. Certain statements contained in this presentation constitute "forward-looking statements" w ithin 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 w ill occur are forward looking statements. When used in this presentation, the words "anticipate", "could", "estimate", "expect", "forecast", "future", "plan", "possible", "potential", "will", "aim", "target" and similar expressions are intended to identify forward-looking statements. Such statements include, w ithout limitation: the Company's forward-looking guidance, including metal production, estimated ore grades, recovery rates, project timelines, drilling results, life of mine estimates, total cash costs per ounce, AISC per ounce, minesite costs per tonne, other expenses and cash flows; statements relating to the expected outcome of the Yamana Transaction, including synergies arising therefrom and their expected quantum and timing; statements relating to the expected outcome of the San Nicolás Transaction; the estimated timing and conclusions of NI 43-101 reports, technical studies and evaluations; the methods by which ore will be extracted or processed; statements concerning the Company's expansion plans at Detour, Kittila, Meliadine Phase 2, the Amaruq underground project and the Odyssey project, including the timing, funding, completion and commissioning thereof and production therefrom; statements about the Company's plans at the Hope Bay project; statements concerning other expansion projects, recovery rates, mill throughput, optimization and projected exploration, including costs and other estimates upon which such projections are based, including the potential for additional gold production in the Abitibi Gold Belt; statements regarding 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 w ith respect to such exploration, development and production; statements regarding anticipated cost inflation and its effect on the Company's costs; 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; the anticipated timing of events with respect to the Company's mine sites; statements regarding the sufficiency of the Company's cash resources; statements regarding the Company's plans with respect to hedging; statements regarding future activity with respect to the Company's unsecured revolving bank credit facility; statements regarding future dividend amounts and payment dates; statements regarding anticipated trends with respect to the Company's operations, exploration and the funding thereof; and statements regarding the impact of the COVID-19 pandemic and meas ures taken to reduce the spread of COVID-19 on the Company's future operations, including its employees and overall business. 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. Forw ard-looking statements are necessarily based upon a number of factors and assumptions that, w hile 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, w hich 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, 2022 filed w ith Canadian securities regulators and that are included in its Annual Report on For m 40-F for the year ended December 31, 2022 ("Form 40-F") filed w ith the SEC as w ell 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 environmental and w ater permits granted for the Kittila mine are restored by the SAC in its final decision and the decisions of the Vaasa Administrative Court have no material impact on the Kittila mine's operations; that the relevant metal prices, foreign exchange rates and prices for key mining and construction inputs (including labour and electricity) w ill be consistent with Agnico Eagle's expectations; the ability to realize synergies from the Yamana Transaction and cost savings at the times, and to the extent, anticipated; 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 grow th projects; that seismic activity at the Company's operations at LaRonde, Goldex and other properties is as expected by the Company and that the Company's efforts to mitigate its effect on mining operations 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 additional measures in response to the COVID-19 pandemic or otherw ise that, individually or in the aggregate, materially affect the Company's ability to operate its business; that cautionary measures taken in connection w ith the COVID-19 pandemic do not affect productivity; and that measures taken relating to, or other effects of, the COVID-19 pandemic do not affect the Company's ability to obtain necessary supplies and deliver them to its mine sites. Many factors, know n and unknow n, 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 ability to realize the anticipated benefits of the Yamana Transaction; the ability to realize the anticipated benefits of the San Nicolás Transaction; 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 the LaRonde Complex and Goldex mine; mining risks; community protests, including by First Nations groups; risks associated w ith foreign operations; governmental and environmental regulation; the volatility of the Company's stock price; risks associated w ith the Company's currency, fuel and by-product metal derivative strategies; the extent and manner to w hich COVID-19, and measures taken by governments, the Company or others to attempt to reduce the spread of COVID-19 may affect the Company, w hether directly or through effects on employee health, w orkforce productivity and availability (including the ability to transport personnel to fly-in/fly-out camps), travel restrictions, contractor availability, supply availability, ability to sell or deliver gold dore bars or concentrate, availability of insurance and the cost thereof, the ability to procure inputs required for the Company's operations and projects or other aspects of the Company's business; and uncertainties with respect to the effect on the global economy associated with the COVID-19 pandemic and measures taken to reduce the spread of COVID-19, any of which could negatively affect financial markets, including the trading price of the Company's shares and the price of gold, and could adversely affect the Company's ability to raise capital. 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 w ell as the Company's other filings w ith 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.

Further Information - For further details on Agnico Eagle's first quarter 2023 results, please see the Company's new s release dated April 27, 2023.

Front Cover - Agnico Eagle's Canadian Malartic mine located in the Abitibi region of northw estern Quebec, taken in the third quarter of 2022.

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Agnico Eagle: A High-Quality,Low-Risk Senior Gold Producer

Simple, Consistent

Strategy

Proven geological potential in premier jurisdictions

Third Largest

Gold Producer1

3.24 - 3.44 Moz (2023E) $840 - $890 /oz2 (2023E)

Strong Mineral Reserve

Base3

P&P: 49 Moz

M&I: 44 Moz

Inferred: 26 Moz

Notes:

1.See AEM February 16, 2023 press release f or the 2023 Guidance 2Total cash costs per ounce

3.See AEM February 16, 2023 press release and appendix f or detailed breakdown of mineral reserv es and mineral resources

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Business Built on Industry Leading ESG Practices

Consistent with Regional Strategy to Build a High-Quality, Low Risk, Sustainable Business

ESG Stewardship

ESG Targets

• Partner of choice within the mining industry and the regions in which we operate
• • Focused on maintaining strong community and Indigenous partnerships
  • Supporting local businesses to maximize regional procurement
• Best safety performance in Agnico Eagle's more than 65-year history
• Dr. Leanne Baker scholarship
• 7% Increase in Indigenous employment
• Reduced freshwater usage per ounce of gold produced, 78% of water used in operations is recycled
• $16.0 million in community investments, $1.4 billion in local procurement
• Kittila - new agreement signed for clean electricity

• Net-ZeroCarbon by 2050 (Scope 1 and Scope 2)
• 30% Reduction Absolute GHG Emissions by 2030 (Scope 1 and Scope 2)

kt/yr CO2e

Note: Includes Scope 1 and 2 emissions only; Scope 3 emissions excluded. Chart may not include all potential grow th w hich will need to be accounted for in reduction of emission as w ell. Does not include Canadian Malartic Mine.

Source: 2022 Agnico Eagle Climate Action Report

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Q1 2023 - Quarterly Results & Highlights

Operating Highlights

• Payable gold production 813koz
• • Production cost $804/oz
  • Total cash cost $832/oz
  • • AISC $1,125/oz

	Financial Results		ESG Highlights
•	Record quarterly cash flow	•	Record quarterly safety performance
•	Adjusted EPS $0.58/share	•	Clean electricity deal signed for Kittila
• Operating cash flow $1.30/share	•	2022 Sustainability report released

• Dividend unchanged $0.40/share

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