AGNICO EAGLE REPORTS THIRD QUARTER 2025 RESULTS - RECORD ADJUSTED NET INCOME WITH ANOTHER QUARTER OF STRONG PRODUCTION; FINANCIAL POSITION FURTHER STRENGTHENED BY REPAYMENT OF LONG-TERM DEBT AND CASH ACCUMULATION

Stock Symbol: AEM (NYSE and TSX)

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

TORONTO, Oct. 29, 2025 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") today reported financial and operating results for the third quarter of 2025.

"We delivered another quarter of strong and consistent operational performance, which translated into record financial results as higher gold prices continue to drive expanded margins. With solid year-to-date performance, we are well on track to meet our full year production and cost guidance, supported by disciplined cost management and a focus on productivity," said Ammar Al-Joundi, Agnico Eagle's President and Chief Executive Officer. "With the record free cash flow generation year-to-date and a strengthened financial position, we continue to advance our five key pipeline projects and create value through the drill bit. We remain disciplined in our approach to capital allocation and we continue to provide strong returns to our shareholders through dividends and share buybacks."

Third quarter 2025 highlights:

_______________________________________

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. Payable gold production for the three months ended September 30, 2025 excludes payable gold production at La India and Creston Mascota of 945 and 189 ounces, respectively, which were produced from residual leaching and 2,442 ounces of gold recovered at Hope Bay.

2 Total cash costs per ounce and all-in sustaining costs per ounce or AISC per ounce are non-GAAP ratios 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 the composition and usefulness of these non-GAAP ratios and reconciliations of total cash costs per ounce and AISC per ounce to production costs on both a by-product and a co-product basis, see "Note Regarding Certain Measures of Performance" below.

3 Adjusted net income and adjusted net income per share are non-GAAP measures or ratios 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 net income see "Note Regarding Certain Measures of Performance" below.

4 Cash provided by operating activities before changes in non-cash components of working capital, free cash flow and free cash flow before changes in non-cash components of working capital and their related per share measures are non-GAAP measures or ratios 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 cash provided by operating activities see "Note Regarding Certain Measures of Performance" below.

5 Net cash (debt), that is, a negative "net debt" position, and net debt 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 long-term debt, see "Note Regarding Certain Measures of Performance" below.

Third Quarter 2025 Results Conference Call and Webcast Tomorrow

The Company's senior management will host a conference call on Thursday, October 30, 2025, 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 416.945.7677 or toll-free 1.888.699.1199 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 44229#. The conference call replay will expire on November 30, 2025.

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

Third Quarter 2025 Production and Costs

Production and Cost Results Summary

Three Months Ended

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

Gold production* (ounces)

866,936

863,445

2,606,759

2,637,935

Gold sales (ounces)**

868,563

855,899

2,558,363

2,609,192

Production costs per ounce***

$ 963

$ 908

$ 918

$ 887

Total cash costs per ounce***

$ 994

$ 921

$ 943

$ 897

AISC per ounce***

$ 1,373

$ 1,286

$ 1,281

$ 1,214

Gold production for the three months ended September 30, 2025 excludes payable gold production at La India and Creston Mascota of 945 and 189 ounces, respectively, which were produced from residual leaching and 2,442 ounces of gold recovered at Hope Bay. Gold production for the nine months ended September 30, 2025 excludes payable gold production at La India and Creston Mascota of 3,614 and 253 ounces, respectively, and 2,442 ounces of gold recovered at Hope Bay.

Canadian Malartic's payable metal sold excludes the 5% in-kind net smelter return royalty held by Osisko Gold Royalties Ltd. Detour Lake's payable metal sold excludes the 2% in-kind net smelter royalty held by Franco-Nevada Corporation. Macassa's payable metal sold excludes the 1.5% in-kind net smelter royalty held by Franco-Nevada Corporation. For the nine months ended September 30, 2025, 2,500 payable gold ounces sold are excluded at La India.

***

Production costs per ounce, total cash costs per ounce and AISC per ounce are reported on a per ounce of gold produced basis.

Gold Production

Production Costs per Ounce

Total Cash Costs per Ounce

AISC per Ounce

Refer to the Company's Management Discussion and Analysis for the third quarter of 2025 (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.

Third Quarter 2025 Financial Results

Financial Results Summary

Three Months Ended

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

Realized gold price (per ounce) 6

$ 3,476

$ 2,492

$ 3,221

$ 2,297

Net income (millions)

$ 1,055

$ 567

$ 2,938

$ 1,386

Adjusted net income (millions)

$ 1,085

$ 573

$ 2,831

$ 1,485

EBITDA (millions) 7

$ 2,030

$ 1,259

$ 5,684

$ 3,264

Adjusted EBITDA (millions) 7

$ 2,098

$ 1,257

$ 5,602

$ 3,362

Cash provided by operating activities (millions)

$ 1,816

$ 1,085

$ 4,706

$ 2,829

Cash provided by operating activities before changes in

non-cash working capital balances (millions)

$ 1,661

$ 1,027

$ 4,203

$ 2,791

Capital expenditures (millions) 8

$ 644

$ 486

$ 1,601

$ 1,265

Free cash flow (millions)

$ 1,190

$ 620

$ 3,089

$ 1,573

Free cash flow before changes in non-cash working capital balances (millions)

$ 1,035

$ 563

$ 2,586

$ 1,535

Net income per share (basic)

$ 2.10

$ 1.13

$ 5.85

$ 2.78

Adjusted net income per share (basic)

$ 2.16

$ 1.14

$ 5.64

$ 2.97

Cash provided by operating activities per share (basic)

$ 3.62

$ 2.16

$ 9.37

$ 5.67

Cash provided by operating activities before changes in non-cash working capital balances per share (basic)

$ 3.31

$ 2.05

$ 8.37

$ 5.59

Free cash flow per share (basic)

$ 2.37

$ 1.24

$ 6.15

$ 3.15

Free cash flow before changes in non-cash working capital balances per share (basic)

$ 2.06

$ 1.12

$ 5.15

$ 3.07

____________________________

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

7 "EBITDA" means earnings before interest, taxes, depreciation, and amortization. EBITDA and adjusted EBITDA 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 net income see "Note Regarding Certain Measures of Performance" below.

8 Includes capitalized exploration. Capital expenditures is a non-GAAP measure that is not a standardized financial measure under IFRS Accounting Standards. For a discussion of the composition and usefulness of this non-GAAP measure and a reconciliation to additions to property, plant and mine development as set out in the consolidated statements of cash flows, see "Note Regarding Certain Measures of Performance" below.

Net Income

Adjusted EBITDA

Cash Provided by Operating Activities

Free Cash Flow Before Changes in Non-cash Working Capital Balances

Capital Expenditures

In the third quarter of 2025, capital expenditures were $557 million and capitalized exploration expenditures were $87 million, for a total of $644 million. For the first nine months of 2025, capital expenditures were $1,371 million and capitalized exploration expenditures were $230 million, for a total of $1,601 million. Total capital expenditures for 2025 (including capitalized exploration) are expected to remain in line with full year guidance as set out in the 2025 Guidance Summary below.

The table below sets out a summary of capital expenditures, in each case broken down between sustaining capital expenditures and development capital expenditures, and capitalized exploration by mine in the third quarter of 2025 and the first nine months of 2025.

Summary of Capital Expenditures*

(thousands)

Capital Expenditures**

Capitalized Exploration

Three Months

Ended

Nine Months

Ended

Three Months

Ended

Nine Months

Ended

Sep 30, 2025

Sustaining Capital Expenditures

LaRonde

$ 17,226

$ 55,131

$ 1,080

$ 3,079

Canadian Malartic

34,600

87,637

305

1,618

Goldex

11,461

37,721

351

1,523

Quebec

63,287

180,489

1,736

6,220

Detour Lake

59,473

159,072

—

Macassa

13,391

32,121

288

1,035

Ontario

72,864

191,193

288

1,035

Meliadine

22,734

53,203

2,541

4,574

Meadowbank

40,104

97,632

—

Nunavut

62,838

150,835

2,541

4,574

Fosterville

16,000

44,615

—

Australia

16,000

44,615

—

Kittila

16,303

45,302

793

2,402

Finland

16,303

45,302

793

2,402

Pinos Altos

7,216

23,560

676

1,528

Mexico

7,216

23,560

676

1,528

Other

2,111

6,301

339

576

Total Sustaining Capital Expenditures

$ 240,619

$ 642,295

$ 6,373

$ 16,335

Development Capital Expenditures

LaRonde

$ 18,939

$ 54,021

$ —

$ 11

Canadian Malartic

78,866

197,827

6,983

19,789

Goldex

5,538

11,169

1,174

2,249

Quebec

103,343

263,017

8,157

22,049

Detour Lake

76,300

188,966

9,122

26,518

Macassa

23,338

65,213

8,752

27,795

Ontario

99,638

254,179

17,874

54,313

Meliadine

28,910

55,361

3,563

12,717

Meadowbank

12,608

15,289

—

Nunavut

41,518

70,650

3,563

12,717

Fosterville

8,321

23,094

2,680

8,080

Australia

8,321

23,094

2,680

8,080

Kittila

409

346

1,767

4,776

Finland

409

346

1,767

4,776

Pinos Altos

1,001

3,917

San Nicolas (50%)

2,566

6,613

—

Mexico

3,567

10,530

Other

59,258

107,108

46,759

111,521

Total Development Capital Expenditures

$ 316,054

$ 728,924

$ 80,809

$ 213,488

Total Capital Expenditures

$ 556,673

$ 1,371,219

$ 87,182

$ 229,823

Capital expenditures is a non-GAAP measure that is not a standardized financial measure under IFRS Accounting Standards. For a discussion of the composition and usefulness of this non-GAAP measure and a reconciliation to additions to property, plant and mine development as set out in the consolidated statements of cash flows, see "Note Regarding Certain Measures of Performance" below.

Excludes capitalized exploration

2025 Guidance Reiterated

In the first nine months of 2025, the Company achieved approximately 77% of the mid-point of its full-year gold production guidance, while achieving total cash costs per ounce at the mid-point of guidance. Based on this performance, the Company expects to meet its gold production guidance for the full year 2025. If gold prices remain elevated for the remainder of 2025, total cash costs per ounce and AISC per ounce in 2025 are expected to trend towards the top end of the guidance ranges of $915 to $965 and $1,250 to $1,300, respectively, reflecting the strong commodity price environment and associated royalty costs impact. Total capital expenditures (including capitalized exploration) guidance for 2025 remains unchanged.

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

2025 Guidance Summary

(millions, unless otherwise stated)

2025

Range

Mid-Point

Gold production (ounces)

3,300,000

3,500,000

3,400,000

Total cash costs per ounce

$915

$965

$940

AISC per ounce

$1,250

$1,300

$1,275

Exploration and corporate development expense

$215

$235

$225

Depreciation and amortization expense

$1,550

$1,750

$1,650

General & administrative expense*

$190

$210

$200

Other costs

$105

$115

$110

Tax rate (%)

33 %

38 %

35 %

Cash taxes

$1,100

$1,200

$1,150

Capital expenditures (excluding capitalized exploration)

$1,750

$1,950

$1,850

Capitalized exploration

$290

$310

$300

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.

Tariffs

On February 1, 2025, the United States introduced tariffs on imports from countries including Canada. In response, the Canadian and other governments announced retaliatory tariffs on imports from the United States. In certain cases, the implementation or application of these tariffs has been postponed or modified and exceptions to such tariffs have been made in respect of certain goods and Canada has now removed many of the counter tariffs it previously announced. However, the international trade disputes set in motion by these tariffs, retaliatory tariffs and other actions remain fluid.

At this time, the Company believes 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 review 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. However, approximately 60% of the Company's cost structure relates to labour, contractors, energy and royalties, which are not expected to be directly affected by any of the tariffs or trade disputes. While there is uncertainty as to whether further tariffs or retaliatory tariffs will be implemented, the quantum of such tariffs, the goods on which they may be applied and the ultimate effect of tariffs or other trade disputes on the Company's supply chains, the Company continues to monitor developments and may take steps to limit the effect of any tariffs or trade disputes on it as may be appropriate in the circumstances. The costs guidance provided in this news release does not include any potential impact from such tariffs or trade disputes.

Strengthened Financial Position Driven by Strong Free Cash Flow and Strategic Debt Reduction

Cash and cash equivalents increased by $797 million from the prior quarter primarily due to cash provided by operating activities resulting from strong operating margins (strong operational performance and higher realized gold prices), favourable changes in non-cash components of working capital (increase in accrued taxes payable as a result of higher operating margins) and the disposition of the Company's interest in Orla Mining Ltd. for $405 million. The increase was offset by $626 million of capital expenditures and by cash used in financing activities as $400 million of debt was repaid during the third quarter of 2025.

As at September 30, 2025, the Company's total long-term debt was $196 million. On September 29, 2025, the Company repaid the $50 million 4.15% 2015 senior notes at maturity and also redeemed the outstanding principal of $350 million of the 2018 senior notes with interest rates ranging from 4.38% to 4.63%. The aggregate payments were comprised of $50 million of the current portion of long-term debt and $350 million of long-term debt. The repayment will reduce interest expense, strengthen the balance sheet and enhance financial flexibility going forward. No amounts were outstanding under the Company's unsecured revolving bank credit facility as at September 30, 2025 and available liquidity under the facility remained at approximately $2 billion, not including the uncommitted $1 billion accordion feature.

On August 26, 2025, Moody's Ratings upgraded the Company's investment grade credit rating to A3 with a Stable Outlook reflecting the Company's strengthening credit profile and conservative financial policies. The Company strives to maintain a strong financial position and an investment grade balance sheet.

The Company increased its net cash position from $963 million as at June 30, 2025 to $2,159 million as at September 30, 2025 as a result of the increase in cash and cash equivalents of $797 million and the reduction of long-term debt of $400 million. The following table sets out the calculation of net cash (debt).

Net Cash Summary

(millions)

As at

Sep 30, 2025

June 30, 2025

Current portion of long-term debt

$ —

$ (50)

Non-current portion of long-term debt

(196)

(545)

Long-term debt

$ (196)

$ (595)

Cash and cash equivalents

2,355

1,558

Net cash (debt)

$ 2,159

$ 963

Hedges

The Company's full year 2025 cost guidance is based on assumed exchange rates of 1.38 C$/US$, 1.08 US$/EUR, 1.50 A$/US$ and 20.00 MXP/US$. The Company has entered into the following hedge positions based on its currency assumptions for 2025 cost estimates:

With the 2025 sealift purchases at the Company's Nunavut operations largely completed, approximately 41% of the Company's remaining estimated diesel exposure for 2025 is hedged at an average benchmark price of $0.70 per litre (excluding transportation and taxes), which is expected to reduce the Company's exposure to diesel price volatility for 2025. The Company's full year 2025 cost guidance is based on an assumed diesel benchmark price of $0.78 per litre (excluding transportation and taxes).

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 the balance of 2025. Current hedging positions are not factored into 2025 or future guidance.

Shareholder Returns

Dividend Record and Payment Dates for the Fourth Quarter of 2025

The Company's Board of Directors has declared a quarterly cash dividend of $0.40 per common share, payable on December 15, 2025 to shareholders of record as of December 1, 2025. Agnico Eagle has declared a cash dividend every year since 1983.

Expected Dividend Record and Payment Dates for the 2025 Fiscal Year

Record Date

Payment Date

February 28, 2025*

March 14, 2025*

May 30, 2025*

June 16, 2025*

September 2, 2025*

September 15, 2025*

December 1, 2025**

December 15, 2025**

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.

Normal Course Issuer Bid

The Company believes that its NCIB is a flexible and 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 is authorized to purchase up to $1 billion of its common shares, subject to a maximum of 5% of the issued and outstanding common shares. Purchases under the NCIB may continue for up to one year from its commencement on May 4, 2025. In the third quarter of 2025, the Company repurchased 1,005,577 common shares under the NCIB at an average share price of $149.02 for aggregate consideration of $150 million. In the first nine months of 2025, the Company repurchased 2,330,112 common shares under the NCIB at an average share price of $128.66 for aggregate consideration of $300 million.

Update on Key Value Drivers and Pipeline Projects

Canadian Malartic

The Company continues to advance the transition to underground mining with the construction of the Odyssey mine and is working on several opportunities with the goal to potentially grow annual production at Canadian Malartic to one million ounces per year in the 2030s. These opportunities include the potential for (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

In the third quarter of 2025, mine development advanced by 4,770 metres, with a focus on the development of the East Gouldie production levels. The breakthrough of the ramp to the mid-shaft loading station at level 102 was completed in the third quarter of 2025, and the main ramp toward shaft bottom progressed to a depth of 1,059 metres as at September 30, 2025.

At East Gouldie, preparatory work, including the installation of the paste distribution infrastructure and essential services, progressed on schedule for the planned production start-up in the second half of 2026. Development of the main ventilation system advanced with the excavation of the main raise ongoing, reaching level 58, where construction of the main exhaust fan rooms began.

Excavation and construction of the first loading station between levels 102 and 114 were completed in July 2025, ahead of schedule. Conventional shaft sinking activities resumed in August, achieving a record monthly average of 2.32 metres per day in September. As at September 30, 2025, the shaft reached a depth of 1,348 metres.

The Company has approved the extension of the shaft #1 by 70 metres to a depth of 1,870 metres, the relocation of the loading station at shaft bottom to level 181 from level 174 and the addition of a loading station at level 146. The engineering for this new layout commenced in the third quarter of 2025 and the excavation of the second loading station is now expected to begin in early 2026. This adjustment is expected to improve operational flexibility and efficiency in the early 2030s, reduce reliance on truck haulage, and further unlock the significant exploration potential at depth.

Construction of key surface infrastructure progressed on schedule and on budget. The shaft ventilation system at the main hoist building was completed and is now being commissioned. Fabrication of the production hoist is underway in Germany, with delivery expected in 2026. Construction progressed on phase two of the paste plant (design capacity of 20,000 tpd) and is expected to be completed in 2027.

In exploration drilling at the Odyssey mine and surrounding near-mine exploration properties during the third quarter of 2025, 13 underground rigs and 16 surface rigs drilled a total of 87,891 metres (239,829 metres year-to-date). The drilling program at Odyssey targeted the upper eastern, lower eastern and lower western extensions of the East Gouldie deposit, the new Eclipse zone and portions of the Odyssey deposit near the Odyssey shaft. Regional exploration was focused on the 16-kilometre long land package around the mine, with additional activities conducted on the Marban land package located immediately northeast of the Canadian Malartic property.

Drilling in the upper eastern extension of East Gouldie near the current shaft and ramp infrastructure was highlighted by hole UGEG-075-056 intersecting 4.8 g/t gold over 25.4 metres at 884 metres depth, including 12.0 g/t gold over 7.0 metres at 881 metres depth and hole UGEG-075-054 intersecting 5.5 g/t gold over 15.4 metres at 907 metres depth, including 8.2 g/t gold over 8.0 metres at 905 metres depth.

The Company believes this area of East Gouldie has the potential to add indicated mineral resources and potentially mineral reserves to East Gouldie by year-end. The drilling success should benefit the ramping up of mining operations and provide additional flexibility in mine development at East Gouldie, including a potential second mining area in the upper part of the mine.

Drilling into the lower eastern extension of the East Gouldie deposit beyond the current mineralized envelope was highlighted by hole MEX24-322WBZA intersecting 2.3 g/t gold over 29.9 metres at 1,991 metres depth including 4.0 g/t gold over 11.3 metres at 2,001 metres depth. These results continue to extend East Gouldie at depth and to the east and are expected to contribute additional inferred mineral resources in this portion of the deposit at year-end 2025.

In the lower western extension of East Gouldie approximately 1.5 kilometres west of hole MEX24-322WBZA, hole MEX25-337 intersected 2.0 g/t over 51.8 metres at 1,531 metres depth and hole MEX25-337W intersected 3.3 g/t gold over 21.6 metres at 1,352 metres depth, including 6.2 g/t Au over 7.7 metres at 1,353 metres depth.

In the sub-parallel Eclipse zone approximately 300 metres to the north of East Gouldie, hole MEX25-309WZ returned 3.9 g/t gold over 10.1 metres at 1,057 metres depth, further increasing the confidence in the geological understanding of the zone and its potential to add significant mineral resources near planned mine infrastructure.

Drilling into the Odyssey deposit returned highlights that included: hole MEV25-304 intersecting 3.6 g/t gold over 14.0 metres at 250 metres depth in the shallow eastern extension of the Odyssey South zone; hole UGOD-075-032 intersecting 3.6 g/t gold over 14.3 metres at 810 metres depth and 10.7 g/t gold over 5.3 metres at 822 metres depth in the Odyssey internal zones; and hole UGOD-075-043 intersecting 3.3 g/t gold over 13.3 metres at 943 metres depth in the Odyssey North zone.

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

[Odyssey – Composite Cross and Longitudinal Section s ]

Marban

As part of the Company's "fill-the-mill" strategy at the Canadian Malartic complex, the Marban property, located immediately northeast of the Canadian Malartic property, was acquired in March 2025 as an advanced exploration project that could potentially support an open pit mining operation similar to the Barnat open pit operation at Canadian Malartic.

Drilling at the Marban project by the Company began in May 2025 with 96 holes totalling 31,000 metres completed at the end of the third quarter. The objective of the program in 2025 is to confirm and extend the Marban gold deposit both within the Marban property and onto Agnico Eagle's adjacent Callahan property to the north, south and east, so that any future pit design will not be constrained by property boundary considerations.

Recent drilling into the eastern extension of historic mineral resources at the Marban pit produced highlights that included: hole MRB25-038 intersecting 3.3 g/t gold over 11.4 metres (core length) at 80 metres depth and 4.1 g/t gold over 3.4 metres (core length) at 165 metres depth; and hole MRB25-030 intersecting 4.3 g/t gold over 5.5 metres at 309 metres depth and 4.6 g/t gold over 10.9 metres at 384 metres depth.

Selected recent drill intersections from Marban are set out in the composite longitudinal section below and in Appendix A.

[ Ma rban – Composite Longitudinal Section ]

Detour Lake

Excavation of the exploration ramp commenced with the first blast completed on July 3, 2025. The exploration ramp advanced by 259 metres and reached a depth of 43 metres as at September 30, 2025. The Company is focused on advancing the ramp toward the West Extension zone, where a bulk sample is planned from domain 54 at Level 200 in the first half of 2027. In the third quarter of 2025, the underground project engineering advanced with emphasis on the electrical distribution, the portal for the conveyor ramp and major surface and underground infrastructure.

Exploration drilling at Detour Lake during the third quarter of 2025 totalled 60,000 metres (162,500 metres year-to-date) of a planned 223,500 metres in 2025, which includes a supplemental budget of $9.4 million approved in the third quarter of 2025 for an additional 55,000 metres of capitalized drilling. The exploration program continued to focus on infill drilling into the high-grade corridor at underground depths in the West Pit zone and infill drilling into the West Extension zone at underground depths west of the West Pit mineral resources and next to the exploration ramp currently under development for the underground project. These results further strengthen the mineralization model supporting the underground project west of and under the open pit at Detour Lake.

The drilling into the high-grade corridor in the West Pit zone during the third quarter further defined the high-grade domains that could potentially be mined earlier in the underground project within the larger lower grade envelope and further validated the current geological interpretation of the high-grade corridor.

Highlight hole DLM25-1163 intersected multiple mineralized domains in the high-grade corridor including 17.2 g/t gold over 3.3 metres at 486 metres depth, 2.1 g/t gold over 34.5 metres at 518 metres depth, including 4.0 g/t gold over 10.3 metres at 523 metres depth, 10.2 g/t gold over 2.8 metres at 595 metres depth, 8.0 g/t gold over 15.0 metres at 746 metres depth, including 27.0 g/t gold over 4.7 metres at 750 metres depth, 5.4 g/t gold over 13.2 metres at 783 metres depth and 5.3 g/t gold over 4.7 metres at 806 metres depth.

Approximately 1.6 kilometres west of hole DLM25-1163 and within the high-grade corridor, hole DLM25-1164 intersected 2.7 g/t gold over 55.7 metres at 297 metres depth, including 11.8 g/t gold over 9.0 metres at 313 metres depth, and 4.6 g/t gold over 12.4 metres at 381 metres depth.

Drilling into the West Extension zone in the western portion of current underground mineral resources further confirmed the grades and continuity of mineralization in the western plunge of the deposit, with highlights that included hole DLM25-1179B intersecting 7.4 g/t gold over 26.8 metres at 538 metres depth, including 10.3 g/t gold over 3.1 metres at 526 metres depth and 23.6 g/t gold over 6.3 metres at 542 metres depth; and hole DLM25-1162 intersecting 0.8 g/t gold over 108.6 metres at 575 metres depth.

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

[Detour Lake – Composite Longitudinal Section]

Upper Beaver

In the third quarter of 2025, the shaft head frame was completed with the final installation of structural steel and cladding. Rope installation for the winches and service hoist in the hoist room is now complete, the service hoist is ready for commissioning and shaft sinking is scheduled to begin in the fourth quarter of 2025. In the advanced exploration phase, the Company plans to sink the shaft to a depth of 760 metres in the first half of 2027 in order to establish underground drilling platforms and to collect a bulk sample.

At the ramp portal, excavation of the exploration ramp commenced with the first blast completed in July 2025. The exploration ramp advanced by 268 metres and reached a depth of 22 metres as at September 30, 2025. The Company intends to advance the exploration ramp to a depth of 160 metres by the second half of 2026 to collect a bulk sample.

At the water treatment plant, piping and electrical installations are completed, with commissioning also expected in the fourth quarter of 2025.

Hope Bay

In the third quarter of 2025, excavation of the Naartok East exploration ramp at Madrid advanced by 580 metres and reached a depth of 62 metres as at September 30, 2025. The 2.1-kilometre exploration ramp is expected to be developed to a depth of 100 metres to facilitate infill and expansion drilling along the Madrid zones.

During the quarter, the Company advanced site preparations for potential redevelopment. At Doris, the first new camp wing was completed and delivered and the second new wing is in place, with completion expected in the fourth quarter of 2025. At Robert's Bay, the jetty expansion was finalized ahead of the 2025 sealift season. The mill was fully dismantled, with major components readied for shipment. As part of the dismantling of the mill, 2,442 ounces of gold were recovered and sold in the third quarter of 2025. Additional construction equipment and service infrastructure were mobilized and shipped to site.

The technical evaluation for a larger production scenario and detailed engineering advanced during the quarter, with study completion targeted for the first half of 2026, when engineering progress is expected to reach approximately 40%.

Exploration drilling at Hope Bay during the third quarter of 2025 totalled 34,971 metres (103,815 metres year-to-date) with a continued focus on mineral resource expansion and conversion of the Patch 7 zone in the Madrid deposit. Results continued to demonstrate continuity within the known zones at Madrid and support the potential for mineral resource expansion at depth and along strike in both directions.

Highlights included: HBM25-381 intersecting 16.9 g/t gold over 4.6 metres at 866 metres depth, including 50.0 g/t gold over 0.85 metres at 865 metres depth in one of the deepest intercepts of Patch 7 to date; hole HBM25-364, located 650 metres south of hole HBM25-381, intersecting 12.7 g/t gold over 9.3 metres at 834 metres depth; and hole HBM25-354, located a further 720 metres south of hole HBM25-364, intersecting 10.7 g/t gold over 3.8 metres at 348 metres depth in the southernmost portion of Patch 7, which remains open in this area to the south and at depth.

Drilling into parallel eastern mineralized shear zones within Patch 7 was highlighted by hole HBM25-367 intersecting 6.7 g/t gold over 10.8 metres at 374 metres depth and 8.9 g/t gold over 3.7 metres at 386 metres depth; and hole HBM25-365 intersecting 6.0 g/t gold over 9.8 metres at 486 metres depth.

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

[Madrid Deposit at Hope Bay – Composite Longitudinal Section]

With helicopter-supported drilling completed for the season, land-based exploration drilling at Madrid is ongoing and will continue through the winter into 2026. This work will further test deeper areas within the Patch 7 and Suluk zones, as well as the southern trend of the Madrid deposit along Patch Lake, including the Patch 14 zone.

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

In the third quarter of 2025, Minas de San Nicolas advanced the feasibility study and execution strategy, with engineering expected to be 30% complete by year end. Engagement with government authorities and stakeholders continued to support the review of both the MIA-R (Environmental Impact Assessment) and ETJ (Land Use Change) permits. Engineering of the critical infrastructure remains a priority to continue building confidence in the study, reduce execution risk and prepare for a potential approval decision.

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

Third Quarter 2025 Sustainability Highlights

The Company extends its gratitude to its production collaborators as well as the valued guests who generously shared their stories

Reorganization of Non-Core Investments in Critical Minerals

The development of critical minerals has emerged as a global priority, one which offers Canada a unique opportunity to diversify its mineral resource base and strengthen its economic resilience. Recognizing the significant potential of critical minerals, the Company deployed a small (3-person), dedicated team to evaluate critical mineral projects over the past three years. Consistent with its early-stage investment strategy, the Company has made small, early-stage investments in a number of non-gold and non-copper projects over that period to gain insight into critical mineral projects and potential partners.

The Company believes it is the right time to reorganize these non-core investments under a new entity and has approved the establishment of Avenir Minerals Limited ("Avenir"), which will be a subsidiary of Agnico Eagle. Avenir will be dedicated to evaluating and advancing critical mineral opportunities in the regions in which Agnico Eagle operates, with an initial geographic focus on Canada. This initiative will allow the Company to maintain its disciplined focus on its core operations while exploring opportunities to enhance long-term shareholder value.

The Company expects to contribute its portfolio of non-gold and non-copper strategic investments, which have a current aggregate market value of approximately $80 million, as well as $50 million in cash as funding for Avenir. While the Company is not committed to additional funding of Avenir, it will retain a right of first refusal on future investment opportunities and may contribute additional capital in the future.

Avenir is expected to become an independent and self-sustaining entity with a mandate to pursue strategic partnerships and government support to help fund and advance future opportunities.

By formalizing its critical minerals strategy through the establishment of Avenir, the Company aims to realize value from early-stage assets and opportunities. This initiative reflects the Company's disciplined approach to capital allocation while preserving optionality in the long-term potential of critical minerals.

ABITIBI REGION, QUEBEC

Strong Operational Performance Continues to Drive Gold Production; Record Throughput at Goldex for Second Consecutive Quarter

Abitibi Quebec – Operating Statistics

Three Months Ended September 30, 2025

LaRonde

Canadian

Malartic

Goldex

Consolidated

Abitibi

Quebec

Tonnes of ore milled (thousands)

764

5,091

843

6,698

Tonnes of ore milled per day

8,304

55,337

9,163

72,804

Gold grade (g/t)

3.54

1.05

1.26

1.36

Gold production (ounces)

81,522

156,875

29,375

267,772

Production costs per tonne (C$)

C$ 128

C$ 33

C$ 59

C$ 47

Minesite costs per tonne (C$) 9

C$ 157

C$ 41

C$ 63

C$ 57

Production costs per ounce

$ 868

$ 793

$ 1,224

$ 863

Total cash costs per ounce

$ 926

$ 959

$ 1,076

$ 962

Nine Months Ended September 30, 2025

LaRonde

Canadian

Malartic

Goldex

Consolidated

Abitibi

Quebec

Tonnes of ore milled (thousands)

2,113

14,919

2,454

19,486

Tonnes of ore milled per day

7,740

54,648

8,989

71,377

Gold grade (g/t)

4.15

1.11

1.38

1.47

Gold production (ounces)

264,265

489,179

92,509

845,953

Production costs per tonne (C$)

C$ 160

C$ 33

C$ 62

C$ 51

Minesite costs per tonne (C$)

C$ 163

C$ 43

C$ 63

C$ 58

Production costs per ounce

$ 913

$ 734

$ 1,171

$ 838

Total cash costs per ounce

$ 822

$ 919

$ 997

$ 897

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 periods.

___________________________________________

9 Minesite costs per tonne is a non-GAAP measure that is not standardized under IFRS Accounting Standards and is reported on a per tonne of ore milled basis. 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

ABITIBI REGION, ONTARIO

Record Quarterly Mill Throughput at Detour Lake; Higher Grades Drive Strong Production at Macassa

Abitibi Ontario – Operating Statistics

Three Months Ended September 30, 2025

Detour Lake

Macassa

Consolidated

Abitibi Ontario

Tonnes of ore milled (thousands)

7,351

133

7,484

Tonnes of ore milled per day

79,902

1,446

81,348

Gold grade (g/t)

0.82

18.95

1.14

Gold production (ounces)

176,539

78,832

255,371

Production costs per tonne (C$)

C$ 28

C$ 510

C$ 37

Minesite costs per tonne (C$)

C$ 28

C$ 547

C$ 37

Production costs per ounce

$ 856

$ 617

$ 783

Total cash costs per ounce

$ 831

$ 659

$ 778

Nine Months Ended September 30, 2025

Detour Lake

Macassa

Consolidated

Abitibi Ontario

Tonnes of ore milled (thousands)

20,817

424

21,241

Tonnes of ore milled per day

76,253

1,553

77,806

Gold grade (g/t)

0.83

18.98

1.19

Gold production (ounces)

497,649

252,224

749,873

Production costs per tonne (C$)

C$ 29

C$ 484

C$ 38

Minesite costs per tonne (C$)

C$ 30

C$ 537

C$ 40

Production costs per ounce

$ 859

$ 582

$ 766

Total cash costs per ounce

$ 894

$ 643

$ 810

See the MD&A under the caption "Financial and Operating Results" for a variance analysis by minesite on gold production, production costs, minesite costs per tonne and total cash costs per ounce compared to the prior-year periods.

Regional Highlights

NUNAVUT

Gold Production Driven by Record Quarterly Tonnes Processed at Meliadine and Meadowbank; Drilling at IVR and Whale Tail Continues to Demonstrate Continuity of High-Grade Mineralization

Nunavut – Operating Statistics

Three Months Ended September 30, 2025

Meliadine

Meadowbank

Consolidated

Nunavut

Tonnes of ore milled (thousands)

627

1,177

1,804

Tonnes of ore milled per day

6,815

12,793

19,608

Gold grade (g/t)

4.83

3.96

4.26

Gold production (ounces)

93,836

136,152

229,988

Production costs per tonne (C$)

C$ 187

C$ 191

C$ 190

Minesite costs per tonne (C$)

C$ 234

C$ 194

C$ 208

Production costs per ounce

$ 913

$ 1,200

$ 1,083

Total cash costs per ounce

$ 1,128

$ 1,192

$ 1,166

Nine Months Ended September 30, 2025

Meliadine

Meadowbank

Consolidated

Nunavut

Tonnes of ore milled (thousands)

1,730

2,906

4,636

Tonnes of ore milled per day

6,337

11,813

18,150

Gold grade (g/t)

5.26

4.45

4.75

Gold production (ounces)

282,611

378,213

660,824

Production costs per tonne (C$)

C$ 228

C$ 190

C$ 204

Minesite costs per tonne (C$)

C$ 239

C$ 189

C$ 207

Production costs per ounce

$ 1,000

$ 1,048

$ 1,027

Total cash costs per ounce

$ 1,050

$ 1,036

$ 1,042

Regional Highlights

Exploration Highlights at Amaruq

Selected drill intersections from the Amaruq deposit from 2024 and 2025 are set out in the composite longitudinal section below and in Appendix A.

[ Amaruq – Composite Longitudinal Section]

AUSTRALIA

Quarterly Gold Production on Target; Primary Fans Transition to Underground Substantially Complete

Fosterville – Operating Statistics

Three Months Ended

September 30, 2025

Nine Months Ended

September 30, 2025

Tonnes of ore milled (thousands)

198

549

Tonnes of ore milled per day

2,152

2,011

Gold grade (g/t)

5.76

7.56

Gold production (ounces)

34,966

128,155

Production costs per tonne (A$)

A$ 295

A$ 307

Minesite costs per tonne (A$)

A$ 289

A$ 315

Production costs per ounce

$ 1,088

$ 851

Total cash costs per ounce

$ 1,066

$ 870

Highlights

FINLAND

Three Million Ounce Milestone Achieved with Strong Quarterly Gold Production; Optimization Initiatives Continue to Realize Cost Benefits

Kittila – Operating Statistics

Three Months Ended

September 30, 2025

Nine Months Ended

September 30, 2025

Tonnes of ore milled (thousands)

558

1,562

Tonnes of ore milled per day

6,065

5,722

Gold grade (g/t)

3.91

Gold production (ounces)

57,954

162,415

Production costs per tonne (€)

€ 95

€ 99

Minesite costs per tonne (€)

€ 94

€ 99

Production costs per ounce

$ 1,066

$ 1,063

Total cash costs per ounce

$ 1,036

$ 1,058

Highlights

MEXICO

Gold Production in Line with Target, Driven by Solid Underground Performance at Cubiro

Pinos Altos – Operating Statistics

Three Months Ended

September 30, 2025

Nine Months Ended

September 30, 2025

Tonnes of ore milled (thousands)

431

1,252

Tonnes of ore milled per day

4,685

4,586

Gold grade (g/t)

1.57

1.55

Gold production (ounces)

20,885

59,539

Production costs per tonne

$ 129

$ 119

Minesite costs per tonne

$ 123

$ 120

Production costs per ounce

$ 2,655

$ 2,498

Total cash costs per ounce

$ 1,906

$ 2,017

About Agnico Eagle

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world. It produces precious metals from operations in Canada, Australia, Finland and Mexico and has a pipeline of high-quality exploration and development projects. 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 operations at the LaRonde Zone 5 mine. 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 and ratios, 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", "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 and ratios may not be comparable to similar measures and ratios 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 prepared in accordance with IFRS Accounting Standards.

Total cash costs per ounce and minesite costs per tonne

Total cash costs per ounce is calculated on a per ounce of gold produced basis and is reported on both a by-product basis (deducting by-product metal revenues from production costs) and a co-product basis (without deducting by-product metal revenues). Total cash costs per ounce on a by-product basis is calculated by adjusting production costs as recorded in the condensed interim consolidated statements of income for by-product revenues, inventory production costs, the impact of purchase price allocation in connection with mergers and acquisitions on inventory accounting, realized gains and losses on hedges of production costs and other adjustments, which include the costs associated with a 5% in-kind royalty paid in respect of certain portions of Canadian Malartic, a 2% in-kind royalty paid in respect of Detour Lake, a 1.5% in-kind royalty paid in respect of Macassa, as well as smelting, refining and marketing charges and then dividing by the number of ounces of gold produced. Given the nature of the fair value adjustment on inventory related to mergers and acquisitions and the use of the total cash costs per ounce measures to reflect the cash generating capabilities of the Company's operations, the calculation of total cash costs per ounce for Canadian Malartic have been adjusted for the effects of purchase price allocation. Investors should note that total cash costs per ounce is not reflective of all cash expenditures, as it does 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 total cash costs per ounce on a by-product basis, except that no adjustment is made for by-product metal revenues. 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 and sale of by-product metals.

Total cash costs per ounce is intended to provide investors with information about the cash-generating capabilities of the Company's mining operations. Management also uses these measures to, and believes they are useful 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 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.

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) the majority of the Company's revenues are from gold, (ii) the Company mines ore, which contains gold, silver, zinc, copper and other metals, (iii) it is not possible to specifically assign all costs to revenues from the gold, silver, zinc, copper and other metals the Company produces, (iv) it is a method used by management and the Board of Directors to monitor operations, and (v) many other gold producers disclose similar measures on a by-product rather than a co-product basis.

Minesite costs per tonne are calculated by adjusting production costs as recorded in the condensed interim consolidated statements of income for inventory production costs and other adjustments, and then dividing by tonnage of ore processed. 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. 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 nine months ended September 30, 2025 and September 30, 2024, as presented in the condensed interim consolidated statements of income in accordance with IFRS Accounting Standards.

Total Production Costs by Mine

Three Months Ended

September 30,

Nine Months Ended

September 30,

(thousands of United States dollars)

2025

2024

2025

2024

LaRonde mine

$ 46,960

$ 74,244

$ 172,146

$ 193,482

LZ5

23,825

18,916

69,017

58,059

LaRonde

70,785

93,160

241,163

251,541

Canadian Malartic

124,353

128,984

359,025

399,893

Goldex

35,956

34,265

108,302

100,531

Quebec

231,094

256,409

708,490

751,965

Detour Lake

151,199

127,159

427,475

379,366

Macassa

48,652

48,086

146,744

146,763

Ontario

199,851

175,245

574,219

526,129

Meliadine

85,662

75,099

282,577

254,463

Meadowbank

163,403

115,705

396,409

352,881

Nunavut

249,065

190,804

678,986

607,344

Fosterville

38,036

44,346

109,094

114,824

Australia

38,036

44,346

109,094

114,824

Kittila

61,762

59,968

172,659

176,535

Finland

61,762

59,968

172,659

176,535

Pinos Altos

55,443

46,464

148,723

122,980

La India

—

10,417

—

39,445

Mexico

55,443

56,881

148,723

162,425

Corporate and Other

4,070

—

4,070

—

Production costs per the condensed interim consolidated statements of income

$ 839,321

$ 783,653

$ 2,396,241

$ 2,339,222

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 nine months ended September 30, 2025 and September 30, 2024, exclusive of amortization, as presented in the condensed interim consolidated statements of income in accordance with IFRS Accounting Standards.

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

Three Months Ended September 30, 2025

(thousands, 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 ($) (iii)

Smelting, refining and marketing charges ($)

Total cash costs per ounce (co-product basis) ($)

By-product metal revenues ($)

Total cash costs per ounce (by-product basis) ($)

LaRonde mine

59,172

46,960

794

19,432

(41)

—

2,316

1,160

(19,003)

839

LZ5

22,350

23,825

1,066

1,617

(16)

—

826

1,175

(395)

1,157

LaRonde

81,522

70,785

868

21,049

(57)

—

3,142

1,164

(19,398)

926

Canadian Malartic

156,875

124,353

793

1,470

(306)

28,025

979

(3,151)

959

Goldex

29,375

35,956

1,224

2,732

(24)

—

1,018

1,351

(8,072)

1,076

Quebec

267,772

231,094

863

25,251

(387)

28,025

4,166

1,076

(30,621)

962

Detour Lake

176,539

151,199

856

(15,420)

(431)

12,183

1,384

844

(2,205)

831

Macassa

78,832

48,652

617

(184)

(57)

3,878

110

665

(487)

659

Ontario

255,371

199,851

783

(15,604)

(488)

16,061

1,494

788

(2,692)

778

Meliadine

93,836

85,662

913

20,706

(270)

—

(126)

1,129

(158)

1,128

Meadowbank

136,152

163,403

1,200

1,638

(389)

—

1,210

(2,401)

1,192

Nunavut

229,988

249,065

1,083

22,344

(659)

—

(27)

1,177

(2,559)

1,166

Fosterville

34,966

38,036

1,088

(597)

(28)

—

1,071

(158)

1,066

Australia

34,966

38,036

1,088

(597)

(28)

—

1,071

(158)

1,066

Kittila

57,954

61,762

1,066

(415)

(1,127)

—

(40)

1,038

(139)

1,036

Finland

57,954

61,762

1,066

(415)

(1,127)

—

(40)

1,038

(139)

1,036

Pinos Altos

20,885

55,443

2,655

(1,704)

(560)

—

326

2,562

(13,691)

1,906

Mexico

20,885

55,443

2,655

(1,704)

(560)

—

326

2,562

(13,691)

1,906

Corporate and Other (iv)

—

4,070

—

(4,070)

—

Consolidated

866,936

839,321

963

25,205

(3,249)

44,086

5,948

1,051

(49,860)

994

Notes:

(i)

Gold production for the three months ended September 30, 2025 excludes 945 ounces of payable production of gold at La India and 189 ounces of payable production of gold at Creston Mascota, which were produced from residual leaching as well as 2,442 ounces of gold recovered at Hope Bay.

(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 September 30, 2025 is $3.7 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)

Relates to costs associated with a 5% in-kind royalty paid in respect of Canadian Malartic, a 2% in-kind royalty paid in respect of Detour Lake, a 1.5% in-kind royalty paid in respect of Macassa.

(iv)

Relates to production costs associated with gold sold by non-operating minesites that are excluded from the consolidated cash costs calculation.

Three Months Ended September 30, 2024

(thousands, except as noted)

Mine

Payable gold production (ounces)

Production costs ($)

Production costs per ounce ($)

Inventory adjustments ($) (i)

Realized gains and losses on hedges ($)

In-kind royalty ($) (ii)

Smelting, refining and marketing charges ($)

Total cash costs per ounce (co-product basis) ($)

By-product metal revenues ($)

Total cash costs per ounce (by-product basis) ($)

LaRonde mine

47,313

74,244

1,569

(14,425)

246

—

1,015

1,291

(10,097)

1,078

LZ5

18,292

18,916

1,034

3,752

—

1,030

1,300

(274)

1,285

LaRonde

65,605

93,160

1,420

(10,673)

332

—

2,045

1,294

(10,371)

1,135

Canadian Malartic

141,392

128,984

912

(2,590)

997

18,810

459

1,037

(1,777)

1,025

Goldex

30,334

34,265

1,130

(1,161)

148

—

762

1,121

(2,743)

1,031

Quebec

237,331

256,409

1,080

(14,424)

1,477

18,810

3,266

1,119

(14,891)

1,056

Detour Lake

173,891

127,159

731

(2,726)

1,247

8,752

1,974

784

(757)

779

Macassa

70,727

48,086

680

2,568

304

2,460

103

757

(442)

750

Ontario

244,618

175,245

716

(158)

1,551

11,212

2,077

776

(1,199)

772

Meliadine

99,838

75,099

752

13,212

505

—

890

(135)

889

Meadowbank

133,502

115,705

867

6,117

681

—

(1)

918

(978)

910

Nunavut

233,340

190,804

818

19,329

1,186

—

906

(1,113)

901

Fosterville

65,532

44,346

677

(1,523)

(80)

—

653

(135)

651

Australia

65,532

44,346

677

(1,523)

(80)

—

653

(135)

651

Kittila

56,715

59,968

1,057

(2,410)

(157)

—

(41)

1,011

(102)

1,010

Finland

56,715

59,968

1,057

(2,410)

(157)

—

(41)

1,011

(102)

1,010

Pinos Altos

21,371

46,464

2,174

(3,548)

—

317

2,023

(10,517)

1,531

Creston Mascota

—

La India

4,529

10,417

2,300

2,633

—

2,902

(133)

2,872

Mexico

25,909

56,881

2,195

(915)

—

408

2,176

(10,650)

1,765

Consolidated

863,445

783,653

908

(101)

3,977

30,022

5,797

953

(28,090)

921

Notes:

(i)

(ii)

Relates to costs associated with a 5% in-kind royalty paid in respect of Canadian Malartic, a 2% in-kind royalty paid in respect of Detour Lake, a 1.5% in-kind royalty paid in respect of Macassa.

Nine Months Ended September 30, 2025

(thousands, 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 ($) (iii)

Smelting, refining and marketing charges ($)

Total cash costs per ounce (co-product basis) ($)

By-product metal revenues ($)

Total cash costs per ounce (by-product basis) ($)

LaRonde mine

201,319

172,146

855

18,275

536

—

7,035

983

(52,124)

725

LZ5

62,946

69,017

1,096

485

196

—

2,637

1,149

(855)

1,136

LaRonde

264,265

241,163

913

18,760

732

—

9,672

1,023

(52,979)

822

Canadian Malartic

489,179

359,025

734

17,706

988

79,745

843

937

(8,680)

919

Goldex

92,509

108,302

1,171

2,418

308

—

3,139

1,234

(21,914)

997

Quebec

845,953

708,490

838

38,884

2,028

79,745

13,654

996

(83,573)

897

Detour Lake

497,649

427,475

859

(13,355)

646

30,266

4,384

903

(4,324)

894

Macassa

252,224

146,744

582

4,591

737

11,488

271

650

(1,662)

643

Ontario

749,873

574,219

766

(8,764)

1,383

41,754

4,655

818

(5,986)

810

Meliadine

282,611

282,577

1,000

14,310

728

—

102

1,053

(855)

1,050

Meadowbank

378,213

396,409

1,048

(1,373)

915

—

398

1,048

(4,533)

1,036

Nunavut

660,824

678,986

1,027

12,937

1,643

—

500

1,050

(5,388)

1,042

Fosterville

128,155

109,094

851

2,824

(28)

—

874

(428)

870

Australia

128,155

109,094

851

2,824

(28)

—

874

(428)

870

Kittila

162,415

172,659

1,063

1,388

(1,558)

—

(159)

1,061

(433)

1,058

Finland

162,415

172,659

1,063

1,388

(1,558)

—

(159)

1,061

(433)

1,058

Pinos Altos

59,539

148,723

2,498

1,819

(531)

—

894

2,535

(30,814)

2,017

Mexico

59,539

148,723

2,498

1,819

(531)

—

894

2,535

(30,814)

2,017

Corporate and Other (iv)

—

4,070

—

(4,070)

—

Consolidated

2,606,759

2,396,241

918

45,018

2,937

121,499

19,626

992

(126,622)

943

Notes:

(i)

Gold production for the nine months ended September 30, 2025 excludes 3,614 ounces of payable production of gold at La India and 253 ounces of payable production of gold at Creston Mascota, which were produced from residual leaching as well as 2,442 ounces of gold recovered at Hope Bay.

(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 nine months ended September 30, 2025 is $6.2 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)

Relates to costs associated with a 5% in-kind royalty paid in respect of Canadian Malartic, a 2% in-kind royalty paid in respect of Detour Lake, a 1.5% in-kind royalty paid in respect of Macassa.

(iv)

Relates to production costs associated with gold sold by non-operating minesites that are excluded from the consolidated cash costs calculation.

Nine Months Ended September 30, 2024

(thousands, except as noted)

Mine

Payable gold production (ounces)

Production costs ($)

Production costs per ounce ($)

Inventory adjustments ($) (i)

Realized (gains) and losses on hedges ($)

In-kind royalty ($) (ii)

Smelting, refining and marketing charges ($)

Total cash costs per ounce (co-product basis) ($)

By-product metal revenues ($)

Total cash costs per ounce (by-product basis) ($)

LaRonde mine

161,388

193,482

1,199

(12,892)

616

—

9,235

1,180

(39,703)

934

LZ5

54,915

58,059

1,057

3,820

215

—

2,396

1,174

(772)

1,160

LaRonde

216,303

251,541

1,163

(9,072)

831

—

11,631

1,179

(40,475)

991

Canadian Malartic

509,169

399,893

785

7,076

2,037

57,506

786

918

(5,945)

906

Goldex

98,472

100,531

1,021

(482)

369

—

1,959

1,040

(9,359)

945

Quebec

823,944

751,965

913

(2,478)

3,237

57,506

14,376

1,001

(55,779)

933

Detour Lake

492,889

379,366

770

(7,295)

2,394

22,446

5,147

816

(2,003)

812

Macassa

203,048

146,763

723

1,038

759

6,834

242

766

(662)

763

Ontario

695,937

526,129

756

(6,257)

3,153

29,280

5,389

801

(2,665)

798

Meliadine

284,238

254,463

895

2,457

1,612

—

100

910

(650)

908

Meadowbank

387,695

352,881

910

5,412

2,502

—

(46)

930

(2,952)

923

Nunavut

671,933

607,344

904

7,869

4,114

—

922

(3,602)

916

Fosterville

188,064

114,824

611

(1,277)

—

604

(462)

602

Australia

188,064

114,824

611

(1,277)

—

604

(462)

602

Kittila

166,967

176,535

1,057

(3,554)

(138)

—

(161)

1,034

(289)

1,032

Finland

166,967

176,535

1,057

(3,554)

(138)

—

(161)

1,034

(289)

1,032

Pinos Altos

69,850

122,980

1,761

2,235

—

980

1,807

(26,556)

1,426

Creston Mascota

—

La India

21,190

39,445

1,861

2,780

—

355

2,009

(991)

1,963

Mexico

91,090

162,425

1,783

5,015

—

1,335

1,853

(27,547)

1,550

Consolidated

2,637,935

2,339,222

887

(682)

10,372

86,786

21,045

931

(90,344)

897

Notes:

(i)

(ii)

Relates to costs associated with a 5% in-kind royalty paid in respect of Canadian Malartic, a 2% in-kind royalty paid in respect of Detour Lake, a 1.5% in-kind royalty paid in respect of Macassa.

Reconciliation of Production Costs to Minesite Costs per Tonne by Mine

Three Months Ended September 30, 2025

(thousands, 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 in

local

currency (ii)

Smelting,

refining and

marketing

charges in

local currency

Local

currency

minesite

costs per

tonne

LaRonde mine

394

$ 46,960

C$ 64,713

C$ 164

C$ 26,889

C$ —

C$ (6,553)

C$ 216

LZ5

370

$ 23,825

C$ 32,856

C$ 89

C$ 2,241

C$ —

C$ 95

LaRonde

764

$ 70,785

C$ 97,569

C$ 128

C$ 29,130

C$ —

C$ (6,553)

C$ 157

Canadian Malartic

5,091

$ 124,353

C$ 170,193

C$ 33

C$ 2,129

C$ 38,792

C$ —

C$ 41

Goldex

843

$ 35,956

C$ 49,637

C$ 59

C$ 3,761

C$ —

C$ 63

Quebec

6,698

$ 231,094

C$ 317,399

C$ 47

C$ 35,020

C$ 38,792

C$ (6,553)

C$ 57

Detour Lake

7,351

$ 151,199

C$ 208,932

C$ 28

C$ (21,293)

C$ 16,856

C$ —

C$ 28

Macassa

133

$ 48,652

C$ 67,786

C$ 510

C$ (382)

C$ 5,369

C$ —

C$ 547

Ontario

7,484

$ 199,851

C$ 276,718

C$ 37

C$ (21,675)

C$ 22,225

C$ —

C$ 37

Meliadine

627

$ 85,662

C$ 117,284

C$ 187

C$ 29,369

C$ —

C$ 234

Meadowbank

1,177

$ 163,403

C$ 225,287

C$ 191

C$ 2,513

C$ —

C$ 194

Nunavut

1,804

$ 249,065

C$ 342,571

C$ 190

C$ 31,882

C$ —

C$ 208

Fosterville

198

$ 38,036

A$ 58,454

A$ 295

A$ (1,171)

A$ —

A$ 289

Australia

198

$ 38,036

A$ 58,454

A$ 295

A$ (1,171)

A$ —

A$ 289

Kittila

558

$ 61,762

€ 53,023

€ 95

€ (435)

€ —

€ 94

Finland

558

$ 61,762

€ 53,023

€ 95

€ (435)

€ —

€ 94

Pinos Altos

431

$ 55,443

$ 129

$ (2,264)

$ —

$ 123

Mexico

431

$ 55,443

$ 129

$ (2,264)

$ —

$ 123

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 September 30, 2025 is C$5.1 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.

(ii)

Relates to costs associated with a 5% in-kind royalty paid in respect of Canadian Malartic, a 2% in-kind royalty paid in respect of Detour Lake, a 1.5% in-kind royalty paid in respect of Macassa.

Three Months Ended September 30, 2024

(thousands, 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 in

local

currency (ii)

Smelting,

refining and

marketing

charges in

local currency

Local

currency

minesite

costs per

tonne

LaRonde mine

355

$ 74,244

C$ 101,221

C$ 285

C$ (18,800)

C$ —

C$ (4,419)

C$ 220

LZ5

332

$ 18,916

C$ 25,740

C$ 78

C$ 5,072

C$ —

C$ 93

LaRonde

687

$ 93,160

C$ 126,961

C$ 185

C$ (13,728)

C$ —

C$ (4,419)

C$ 158

Canadian Malartic

4,862

$ 128,984

C$ 175,462

C$ 36

C$ (3,655)

C$ 25,677

C$ —

C$ 41

Goldex

739

$ 34,265

C$ 46,696

C$ 63

C$ (1,619)

C$ —

C$ 61

Quebec

6,288

$ 256,409

C$ 349,119

C$ 56

C$ (19,002)

C$ 25,677

C$ (4,419)

C$ 56

Detour Lake

7,082

$ 127,159

C$ 172,973

C$ 24

C$ (3,935)

C$ 11,914

C$ —

C$ 26

Macassa

134

$ 48,086

C$ 65,489

C$ 489

C$ 3,408

C$ 3,348

C$ —

C$ 539

Ontario

7,216

$ 175,245

C$ 238,462

C$ 33

C$ (527)

C$ 15,262

C$ —

C$ 35

Meliadine

533

$ 75,099

C$ 102,391

C$ 192

C$ 17,937

C$ —

C$ 226

Meadowbank

1,083

$ 115,705

C$ 157,247

C$ 145

C$ 8,236

C$ —

C$ 153

Nunavut

1,616

$ 190,804

C$ 259,638

C$ 161

C$ 26,173

C$ —

C$ 177

Fosterville

246

$ 44,346

A$ 66,587

A$ 271

A$ (2,406)

A$ —

A$ 261

Australia

246

$ 44,346

A$ 66,587

A$ 271

A$ (2,406)

A$ —

A$ 261

Kittila

544

$ 59,968

€ 54,519

€ 100

€ (2,469)

€ —

€ 96

Finland

544

$ 59,968

€ 54,519

€ 100

€ (2,469)

€ —

€ 96

Pinos Altos

446

$ 46,464

$ 104

$ (3,548)

$ —

$ 96

La India (iii)

—

$ 10,417

$ —

$ (10,417)

$ —

Mexico

446

$ 56,881

$ 128

$ (13,965)

$ —

$ 96

Notes:

(i)

This inventory adjustment reflects production costs associated with the portion of production still in inventory.

(ii)

Relates to costs associated with a 5% in-kind royalty paid in respect of Canadian Malartic, a 2% in-kind royalty paid in respect of Detour Lake, a 1.5% in-kind royalty paid in respect of Macassa.

(iii)

La India's cost calculations per tonne for the three months ended September 30, 2024 exclude approximately $10.4 million of production costs incurred during the period, following the cessation of mining activities at La India during the fourth quarter of 2023.

Nine Months Ended September 30, 2025

(thousands, 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 in

local

currency (ii)

Smelting,

refining and

marketing

charges in

local currency

Local

currency

minesite

costs per

tonne

LaRonde mine

1,103

172,146

C$ 240,956

C$ 218

C$ 25,370

C$ —

C$ (19,756)

C$ 224

LZ5

1,010

69,017

C$ 96,407

C$ 95

C$ 575

C$ —

C$ 96

LaRonde

2,113

241,163

C$ 337,363

C$ 160

C$ 25,945

C$ —

C$ (19,756)

C$ 163

Canadian Malartic

14,919

359,025

C$ 498,804

C$ 33

C$ 24,333

C$ 111,462

C$ —

C$ 43

Goldex

2,454

108,302

C$ 151,393

C$ 62

C$ 3,196

C$ —

C$ 63

Quebec

19,486

708,490

C$ 987,560

C$ 51

C$ 53,474

C$ 111,462

C$ (19,756)

C$ 58

Detour Lake

20,817

427,475

C$ 596,968

C$ 29

C$ (18,952)

C$ 42,298

C$ —

C$ 30

Macassa

424

146,744

C$ 205,250

C$ 484

C$ 6,264

C$ 16,061

C$ —

C$ 537

Ontario

21,241

574,219

C$ 802,218

C$ 38

C$ (12,688)

C$ 58,359

C$ —

C$ 40

Meliadine

1,730

282,577

C$ 394,138

C$ 228

C$ 18,509

C$ —

C$ 239

Meadowbank

2,906

396,409

C$ 550,901

C$ 190

C$ (2,594)

C$ —

C$ 189

Nunavut

4,636

678,986

C$ 945,039

C$ 204

C$ 15,915

C$ —

C$ 207

Fosterville

549

109,094

A$ 168,621

A$ 307

A$ 4,145

A$ —

A$ 315

Australia

549

109,094

A$ 168,621

A$ 307

A$ 4,145

A$ —

A$ 315

Kittila

1,562

172,659

€ 154,529

€ 99

€ 199

€ —

€ 99

Finland

1,562

172,659

€ 154,529

€ 99

€ 199

€ —

€ 99

Pinos Altos

1,252

148,723

$ 148,723

$ 119

$ 1,288

$ —

$ 120

Mexico

1,252

148,723

$ 148,723

$ 119

$ 1,288

$ —

$ 120

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 nine months ended September 30, 2025 is C$8.7 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)

Relates to costs associated with a 5% in-kind royalty paid in respect of Canadian Malartic, a 2% in-kind royalty paid in respect of Detour Lake, a 1.5% in-kind royalty paid in respect of Macassa.

Nine Months Ended September 30, 2024

(thousands, 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 in

local

currency (ii)

Smelting,

refining and

marketing

charges in

local currency

Local

currency

minesite

costs per

tonne

LaRonde mine

1,149

193,482

C$ 262,638

C$ 229

C$ (16,069)

C$ —

C$ (8,019)

C$ 208

LZ5

898

58,059

C$ 78,984

C$ 88

C$ 5,192

C$ —

C$ 94

LaRonde

2,047

251,541

C$ 341,622

C$ 167

C$ (10,877)

C$ —

C$ (8,019)

C$ 158

Canadian Malartic

15,217

399,893

C$ 543,010

C$ 36

C$ 9,830

C$ 78,244

C$ —

C$ 41

Goldex

2,264

100,531

C$ 136,615

C$ 60

C$ (580)

C$ —

C$ 60

Quebec

19,528

751,965

C$ 1,021,247

C$ 52

C$ (1,627)

C$ 78,244

C$ (8,019)

C$ 56

Detour Lake

20,376

379,366

C$ 515,371

C$ 25

C$ (9,622)

C$ 30,538

C$ —

C$ 26

Macassa

420

146,763

C$ 199,917

C$ 476

C$ 1,468

C$ 9,301

C$ —

C$ 502

Ontario

20,796

526,129

C$ 715,288

C$ 34

C$ (8,154)

C$ 39,839

C$ —

C$ 36

Meliadine

1,450

254,463

C$ 345,186

C$ 238

C$ 3,724

C$ —

C$ 241

Meadowbank

3,144

352,881

C$ 478,366

C$ 152

C$ 7,470

C$ —

C$ 155

Nunavut

4,594

607,344

C$ 823,552

C$ 179

C$ 11,194

C$ —

C$ 182

Fosterville

652

114,824

A$ 173,962

A$ 267

A$ (2,041)

A$ —

A$ 264

Australia

652

114,824

A$ 173,962

A$ 267

A$ (2,041)

A$ —

A$ 264

Kittila

1,550

176,535

€ 162,375

€ 105

€ (3,354)

€ —

€ 103

Finland

1,550

176,535

€ 162,375

€ 105

€ (3,354)

€ —

€ 103

Pinos Altos

1,326

122,980

$ 122,980

$ 93

$ 2,235

$ —

$ 94

La India (iii)

—

39,445

$ 39,445

$ —

$ (39,445)

$ —

Mexico

1,326

162,425

$ 162,425

$ 122

$ (37,210)

$ —

$ 94

Notes:

(i)

This inventory adjustment reflects production costs associated with the portion of production still in inventory.

(ii)

Relates to costs associated with a 5% in-kind royalty paid in respect of Canadian Malartic, a 2% in-kind royalty paid in respect of Detour Lake, a 1.5% in-kind royalty paid in respect of Macassa.

(iii)

La India's cost calculations per tonne for the nine months ended September 30, 2024 exclude approximately $39.4 million of production costs incurred during the period, following the cessation of mining activities at La India during the fourth quarter of 2023.

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 total cash costs on a by-product basis, sustaining capital expenditures (including capitalized exploration), general and administrative expenses (including stock options), lease payments related to sustaining assets and reclamation expenses, and then dividing by the number of ounces of gold produced. These additional costs reflect the additional expenditures that are required to be made to maintain current production levels. The AISC per ounce on a co-product basis is calculated in the same manner as the AISC per ounce on a by-product basis, except that the total cash costs on a co-product basis are used, meaning no adjustment is made for by-product metal revenues. 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. Unless otherwise indicated, all-in sustaining costs per ounce is reported on a by-product basis (see "Reconciliation of Production Costs to Total Cash Costs per Ounce by Mine" for a discussion of regarding the Company's use of by-product basis reporting).

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. 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 nine months ended September 30, 2025 and September 30, 2024 on both a by-product basis (deducting by-product metal revenues from production costs) and a co-product basis (without deducting by-product metal revenues).

(United States dollars per ounce, except where noted)

Three Months Ended

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

Production costs per the condensed interim consolidated statements of income (thousands)

$ 839,321

$ 783,653

$ 2,396,241

$ 2,339,222

Less: Production costs from non-operating minesites

(4,070)

—

(4,070)

—

Adjusted production costs

835,251

783,653

2,392,171

2,339,222

Gold production (ounces) (i)

866,936

863,445

2,606,759

2,637,935

Production costs per ounce

$ 963

$ 908

$ 918

$ 887

Adjustments:

Inventory adjustments (ii)

—

In-kind royalty (iii)

—

Realized gains and losses on hedges of production costs

(4)

Other (iv)

Total cash costs per ounce (co-product basis)

$ 1,051

$ 953

$ 992

$ 931

By-product metal revenues

(57)

(32)

(49)

(34)

Total cash costs per ounce (by-product basis)

$ 994

$ 921

$ 943

$ 897

Adjustments:

Sustaining capital expenditures (including capitalized exploration)

282

292

250

244

General and administrative expenses (including stock option expense)

Non-cash reclamation provision and sustaining leases (v)

All-in sustaining costs per ounce (by-product basis)

$ 1,373

$ 1,286

$ 1,281

$ 1,214

By-product metal revenues

All-in sustaining costs per ounce (co-product basis)

$ 1,430

$ 1,318

$ 1,330

$ 1,248

Notes:

(i) Gold production for the three months ended September 30, 2025 excludes 945 ounces of payable production of gold at La India and 189 ounces of payable production of gold at Creston Mascota, which were produced from residual leaching as well as 2,442 ounces of gold recovered at Hope Bay. Gold production for the nine months ended September 30, 2025 excludes 3,614 ounces of payable production of gold at La India and 253 ounces of payable production of gold at Creston Mascota, which were produced from residual leaching as well as 2,442 ounces of gold recovered at Hope Bay

(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 and nine months ended September 30, 2025 is $3.7 and $6.2 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 50% of Canadian Malartic that Agnico Eagle did not then hold

(iii) Relates to costs associated with a 5% in-kind royalty paid in respect of Canadian Malartic, a 2% in-kind royalty paid in respect of Detour Lake, a 1.5% in-kind royalty paid in respect of Macassa

(iv) Other adjustments consists of smelting, refining and marketing charges to production costs

(v) Sustaining leases are lease payments related to sustaining assets

Adjusted net income and adjusted net income per share

Adjusted net income and adjusted net income per share are calculated by adjusting the net income as recorded in the condensed interim consolidated statements of income 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 items such as foreign currency translation gains or losses, realized and unrealized gains or losses on derivative financial instruments, severance and 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, 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 a reconciliation of net income per the condensed interim consolidated statements of income to adjusted net income for the three and nine months ended September 30, 2025, and September 30, 2024.

Three Months Ended

September 30,

Nine Months Ended

September 30,

(thousands)

2025

2024

2025

2024

Net income for the period

$ 1,054,958

$ 567,118

$ 2,938,400

$ 1,386,326

Foreign currency translation (gain) loss

(6,559)

3,436

(18,190)

(748)

Realized and unrealized loss (gain) on derivative financial instruments

20,242

(17,153)

(173,881)

48,390

Environmental remediation

2,370

6,294

24,334

11,201

Net loss on disposal of property, plant and equipment

5,719

5,420

17,824

25,786

Purchase price allocation to inventory

3,700

—

6,234

—

Debt extinguishment costs

2,838

—

8,245

—

Impairment loss (i)

—

10,554

—

Loss on sale of equity securities

40,175

—

40,175

—

Other (ii)

—

2,077

13,215

Income and mining taxes adjustments (iii)

(38,234)

7,462

(24,676)

1,146

Adjusted net income for the period

$ 1,085,209

$ 572,577

$ 2,831,096

$ 1,485,316

Notes:

(i) Relates to the Company's ownership percentage of an impairment loss recorded by an associate

(ii) Other adjustments relate to retroactive payments that management considers not reflective of the Company's underlying performance in the comparative period

(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

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 condensed interim consolidated statements of income.

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 items such as foreign currency translation gains or losses, realized and unrealized gains or losses on derivative financial instruments, severance and 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, and income and mining taxes adjustments.

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 a reconciliation of net income per the condensed interim consolidated statements of income to EBITDA and adjusted EBITDA for the three and nine months ended September 30, 2025, and September 30, 2024.

Three Months Ended September 30,

Nine Months Ended September 30,

(thousands)

2025

2024

2025

2024

Net income for the period

$ 1,054,958

$ 567,118

$ 2,938,400

$ 1,386,326

Finance costs

24,154

28,527

74,027

99,265

Amortization of property, plant and mine development

429,947

390,245

1,223,703

1,125,859

Income and mining tax expense

520,610

272,672

1,448,358

652,718

EBITDA

2,029,669

1,258,562

5,684,488

3,264,168

Foreign currency translation (gain) loss

(6,559)

3,436

(18,190)

(748)

Realized and unrealized loss (gain) on derivative financial instruments

20,242

(17,153)

(173,881)

48,390

Environmental remediation

2,370

6,294

24,334

11,201

Net loss on disposal of property, plant and equipment

5,719

5,420

17,824

25,786

Purchase price allocation to inventory

3,700

—

6,234

—

Debt extinguishment costs

2,838

—

8,245

—

Impairment loss (i)

—

10,554

—

Loss on sale of equity securities

40,175

—

40,175

—

Other (ii)

—

2,077

13,215

Adjusted EBITDA

$ 2,098,154

$ 1,256,559

$ 5,601,860

$ 3,362,012

Notes:

(i) Relates to the Company's ownership percentage of an impairment loss recorded by an associate

(ii) 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 condensed interim consolidated statements of cash flows 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 condensed interim consolidated statements of cash flows.

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, accounts payable and accrued liabilities and interest payable.

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 a reconciliation of cash provided by operating activities per the condensed interim consolidated statements of cash flows to free cash flow and free cash flow before changes in non-cash components of working capital and to cash provided by operating activities before changes in non-cash components of working capital for the three and nine months ended September 30, 2025, and September 30, 2024.

Three Months Ended

September 30,

Nine Months Ended

September 30,

(thousands, except where noted)

2025

2024

2025

2024

Cash provided by operating activities

$ 1,815,875

$ 1,084,532

$ 4,705,609

$ 2,829,043

Additions to property, plant and mine development

(626,330)

(464,101)

(1,616,930)

(1,255,786)

Free cash flow

1,189,545

620,431

3,088,679

1,573,257

Changes in income taxes

(189,741)

(95,930)

(491,108)

(142,732)

Changes in inventory

143,052

156,871

165,196

165,727

Changes in other current assets

11,022

(41,263)

17,784

16,237

Changes in accounts payable and accrued liabilities

(122,303)

(80,704)

(198,893)

(74,622)

Changes in interest payable

3,339

3,964

4,132

(2,867)

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

$ 1,034,914

$ 563,369

$ 2,585,790

$ 1,535,000

Additions to property, plant and mine development

626,330

464,101

1,616,930

1,255,786

Cash provided by operating activities before changes in non-cash components of working capital

$ 1,661,244

$ 1,027,470

$ 4,202,720

$ 2,790,786

Cash provided by operating activities per share - basic

$ 3.62

$ 2.16

$ 9.37

$ 5.67

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

$ 3.31

$ 2.05

$ 8.37

$ 5.59

Free cash flow per share - basic

$ 2.37

$ 1.24

$ 6.15

$ 3.15

Free cash flow before changes in non-cash components of working capital per share - basic

$ 2.06

$ 1.12

$ 5.15

$ 3.07

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 condensed interim consolidated financial statements, the Company adds the following items to the operating margin: income and mining taxes expense; other expenses (income); care and maintenance expenses; foreign currency translation (gain) loss; environmental remediation costs; loss (gain) on derivative financial instruments; finance costs; general and administrative expenses; amortization of property, plant and mine development; exploration and corporate development expenses; and revaluation gain and impairment losses (reversals). The Company believes that operating margin is a useful 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, including exploration and corporate development expenses, amortization of property, plant and mine development, general and administrative expenses, finance costs, gain and losses on derivative financial instruments, environmental remediation costs, foreign currency translation gains and losses, other expenses and income and mining tax expenses. Management uses this measure internally to plan and forecast future operating results. Management believes this measure is useful to investors as it provides them with additional information about the Company's underlying operating results and should be evaluated in conjunction with other data prepared in accordance with IFRS Accounting Standards. For a reconciliation of operating margin to revenue from operations, see "Summary of Operations Key Performance Indicators".

Capital expenditures

Capital expenditures are calculated by deducting working capital adjustments from additions to property, plant and mine development per the condensed interim consolidated statements of cash flows.

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 condensed interim consolidated statements of cash flows for the three and nine months ended September 30, 2025 and September 30, 2024.

(thousands)

Three Months Ended

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

Sustaining capital expenditures

$ 240,619

$ 247,762

$ 642,295

$ 633,785

Sustaining capitalized exploration

6,373

5,200

16,335

15,124

Development capital expenditures

316,054

189,406

728,924

502,924

Development capitalized exploration

80,809

43,427

213,488

113,282

Total Capital Expenditures

$ 643,855

$ 485,795

$ 1,601,042

$ 1,265,115

Working capital adjustments

(17,525)

(21,694)

15,888

(9,329)

Additions to property, plant and mine development per the condensed interim consolidated statements of cash flows

$ 626,330

$ 464,101

$ 1,616,930

$ 1,255,786

Net cash (debt)

Net cash (debt) is calculated by adjusting the total of the current portion of long-term debt and non-current long-term debt as recorded on the condensed interim consolidated balance sheets for deferred financing costs and cash and cash equivalents. Management believes the measure of net cash (debt) is useful to help investors determine the Company's overall cash (debt) position and to evaluate the future debt capacity of the Company. The Company changed the label for this non-GAAP measure from "net debt" to "net cash (debt)" as the Company believes that reporting a positive net cash position is more clear and understandable to readers than a negative net debt position. The Company's method of calculating this non-GAAP measure has not changed.

The following table sets out a reconciliation of long-term debt per the condensed interim consolidated balance sheets to net cash (debt) as at September 30, 2025, and December 31, 2024.

As at

(thousands)

September 30, 2025

December 31, 2024

Current portion of long-term debt per the condensed interim consolidated balance sheets

$ —

$ (90,000)

Non-current portion of long-term debt

(195,994)

(1,052,956)

Long-term debt

$ (195,994)

$ (1,142,956)

Cash and cash equivalents

$ 2,354,759

$ 926,431

Net cash (debt)

$ 2,158,765

$ (216,525)

Forward-Looking Non-GAAP Measures

This news release also contains information as to estimated future total cash costs per ounce and AISC per ounce. The estimates are based upon the total cash costs per ounce and AISC per ounce that the Company expects to incur to mine gold at its mines and projects and, consistent with the reconciliation of these actual costs referred to above, do not include production costs attributable to accretion expense and other asset retirement costs, which 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 October 29, 2025. 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", "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; 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 expansion plans at Detour Lake, Upper Beaver and Odyssey, including the timing, funding, completion and commissioning thereof and the commencement of production therefrom; the Company's plans at Hope Bay and San Nicolas; statements concerning the Company's "fill-the-mill" strategy at Canadian Malartic; 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 costs 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 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; 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 and trade restrictions on the Company; plans with respect to activity under the NCIB; plans to form Avenir, 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 (the "2024 MD&A") and the Company's Annual Information Form (the "AIF") for the year ended December 31, 2024 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the year ended December 31, 2024 (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 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 2024 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.

Additional Information

Additional information about each of the Company's material mineral projects as at December 31, 2024, 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 National Instrument 43-101 – Standards of Disclosure for Mineral Projects can be found in the Company's AIF and 2024 MD&A filed on SEDAR+ each of which forms a part of the Company's Form 40-F filed 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 Québec, Canada (March 24, 2023); NI 43-101 Technical Report Canadian Malartic Mine, Québec, 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

Eclipse zone and East Gouldie and Odyssey deposits at Odyssey mine

Drill hole

Deposit / zone

From (metres)

(metres)

Depth of midpoint

below

surface

(metres)

Estimated

true

width

(metres)

Gold grade

(g/t)

(uncapped)

Gold grade (g/t)

(capped)*

MEX23-309WZ

Eclipse

1,520.5

1,531.3

1,057

10.1

3.9

MEX24-322WBZA

East Gouldie

2,152.3

2,189.0

1,991

29.9

2.3

including

2,175.2

2,189.0

2,001

11.3

4.0

MEX25-337

East Gouldie

1,597.9

1,652.4

1,531

51.8

2.0

MEX25-337W

East Gouldie

1,581.0

1,603.0

1,352

21.6

3.3

including

1,590.0

1,598.0

1,353

7.7

6.2

UGEG-075-054

East Gouldie

558.0

573.5

907

15.4

5.5

including

558.0

566.1

905

8.0

8.2

UGEG-075-056

East Gouldie

547.5

573.1

884

25.4

5.1

4.8

including

549.3

556.4

881

7.0

13.2

12.0

UGEG-083-016

East Gouldie

146.6

170.0

891

16.8

2.5

UGOD-075-043

Odyssey North

587.0

602.4

943

13.3

3.3

UGOD-075-032

Odyssey internal

439.9

456.0

810

14.3

3.6

and

Odyssey internal

468.0

474.0

822

5.3

22.5

10.7

UGOD-058-005

Odyssey Jupiter

491.4

505.5

800

12.6

2.9

MEV25-304

Odyssey South

326.0

341.5

250

14.0

6.7

3.6

including

326.0

327.5

244

1.4

52.6

20.0

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

Marban deposit

Drill hole

From

(metres)

Depth of

midpoint

below surface

(metres)

Estimated

true width

(metres)

Gold grade

(g/t)

(uncapped)

Gold grade

(g/t)

(capped)*

MRB25-005

84.3

90.4

6.1

1.3

and

333.0

345.6

248

11.5

1.3

and

351.0

357.1

258

5.6

1.8

MRB25-006

242.4

245.4

191

3.0**

3.3

MRB25-015

117.2

122.4

103

4.9

3.2

MRB25-029

121.0

126.5

103

5.5**

2.2

MRB25-030

401.5

407.0

309

5.5

4.3

and

494.0

505.0

384

10.9

4.6

MRB25-033

159.2

162.0

117

2.8**

5.3

and

201.5

203.0

147

1.5**

15.3

MRB25-034

127.5

133.5

116

5.2

1.8

MRB25-038

102.0

113.4

11.4**

3.3

including

103.2

104.0

0.8

13.4

including

106.7

109.1

2.4**

10.5

and

216.2

219.6

165

3.4**

4.1

MRB25-051

265.0

266.5

191

1.5**

20.1

*Results from Marban use a capping factor ranging from 10 g/t to 40 g/t gold depending on the zone.

**Core length. True width undetermined.

West Pit and West Extension zones at Detour Lake

Drill hole

Zone

From

(metres)

Depth of

midpoint

below

surface

(metres)

Estimated

true

width

(metres)

Gold grade

(g/t)

(uncapped)*

DLM25-1144A

West Pit

652.2

767.5

565

106.2

1.5

including

652.2

668.0

528

14.5

2.9

including

751.1

762.2

600

10.3

6.1

DLM25-1156

West Pit

385.0

436.0

323

46.5

1.0

and

506.0

533.0

405

24.8

1.7

and

642.0

691.9

514

46.4

1.2

and

745.0

768.0

578

21.5

1.5

DLM25-1161

West Extension

1,009.8

1,013.0

860

2.9

137.1

DLM25-1162

West Extension

640.0

758.0

575

108.6

0.8

DLM25-1163

West Pit

636.4

639.9

486

3.3

17.2

and

663.0

700.0

518

34.5

2.1

including

684.0

695.0

523

10.3

4.0

and

789.0

792.0

595

2.8

10.2

and

996.0

1,012.0

746

15.0

8.0

including

1,007.0

1,012.0

750

4.7

27.0

and

1,049.0

1,063.0

783

13.2

5.4

and

1,086.0

1,091.0

806

4.7

5.3

DLM25-1164

West Pit

338.1

400.0

297

55.7

2.7

including

385.0

395.0

313

9.0

11.8

and

473.0

486.5

381

12.4

4.6

DLM25-1168

West Pit

413.2

488.0

343

69.7

1.8

including

467.0

475.0

357

7.5

10.2

and

625.1

667.0

480

39.8

3.0

including

655.7

667.0

490

10.7

7.6

and

682.3

696.0

509

13.1

3.4

DLM25-1175

West Pit

423.0

435.9

344

11.7

2.8

and

578.0

606.0

466

25.9

2.2

including

582.2

595.0

463

11.9

3.6

DLM25-1179B

West Extension

587.7

620.2

538

26.8

7.4

including

587.7

591.5

526

3.1

10.3

including

604.9

612.5

542

6.3

23.6

DLM25-1188

West Extension

546.0

549.0

471

2.6

19.1

and

1,040.0

1,051.0

845

10.3

2.7

and

1,112.0

1,122.9

896

10.3

2.2

*Results from Detour Lake are uncapped.

Madrid deposit at Hope Bay

Drill hole

Zone

From

(metres)

Depth of

midpoint

below surface

(metres)

Estimated

true width

(metres)

Gold grade

(g/t)

(uncapped)

Gold grade

(g/t)

(capped)*

HBM25-349

undefined

622.5

625.5

544

2.6

17.9

HBM25-352

Patch 7

821.0

824.0

629

2.5

14.7

HBM25-354

Patch 7

446.0

451.0

348

3.8

10.7

HBM25-359

Patch 7

329.0

337.0

274

6.1

4.3

HBM25-364

Patch 7

916.0

927.3

834

9.3

13.8

12.7

including

Patch 7

925.0

926.0

837

0.8

43.8

including

Patch 7

926.8

927.3

838

0.4

124.0

85.0

and

Patch 7

930.0

940.0

844

8.2

4.1

HBM25-365

Patch 7

622.0

634.0

486

9.8

6.0

including

Patch 7

631.0

632.0

488

0.9

19.6

HBM25-367

Patch 7

470.5

481.5

374

10.8

6.7

and

undefined

492.0

495.8

386

3.7

8.9

and

Patch 7

539.7

544.7

419

4.8

5.4

HBM25-368A

Patch 7

1,123.0

1,127.0

700

3.9

12.5

HBM25-369

undefined

141.5

144.5

115

2.3

11.2

and

Patch 7

469.0

472.0

398

3.0

12.8

and

Patch 7

560.7

563.7

471

2.5

12.3

HBM25-376

Patch 7

362.1

368.0

290

5.7

6.6

HBM25-381

Patch 7

1,110.5

1,115.4

866

4.6

81.4

16.9

including

Patch 7

1,110.5

1,111.4

865

0.9

401.0

50.0

HBM25-383

undefined

757.0

766.5

596

8.9

5.0

*Results from Madrid use a capping factor ranging from 50 g/t gold to 75 g/t gold depending on the zone.

IVR and Whale Tail zones at Amaruq

Drill hole

Zone

From

(metres)

Depth of

midpoint

below surface

(metres)

Estimated

true width

(metres)

Gold grade

(g/t)

(uncapped)

Gold grade

(g/t)

(capped)*

AMQ24-3091

IVR

903.1

911.5

773

6.4

13.8

8.2

AMQ24-3091B

IVR

960.3

979.0

873

16.2

12.0

6.0

including

973.3

979.0

879

4.9

27.9

10.2

AMQ24-3105A

IVR

900.0

908.5

826

7.5

9.2

AMQ24-3190

IVR

140.5

146.5

172

4.3

21.0

including

144.1

144.9

173

0.6

89.4

AMQ24-3191

IVR

143.5

152.3

177

5.6

20.7

14.8

including

149.0

150.0

178

0.6

151.5

100.0

AMQ22-2852**

Whale Tail

976.8

991.8

848

10.5

9.1

AMQ22-2876A**

Whale Tail

1,051.0

1,069.2

1,000

18.2

7.4

AMQ24-3157

Whale Tail

946.7

952.0

890

4.6

11.8

AMQ25-3215B

Whale Tail

853.5

864.7

774

7.9

8.4

AMQ25-3217A

Whale Tail

916.6

926.4

865

4.1

7.1

AMQ25-3220

Whale Tail

819.0

829.8

750

7.7

4.7

AMQ25-3220B

Whale Tail

834.3

853.2

779

10.8

4.6

4.3

AMQ25-3221B

Whale Tail

638.1

643.9

547

4.1

45.7

12.8

and

Whale Tail

721.1

729.9

620

6.2

4.5

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

**Previously released in AEM news releases dated October 26, 2022 and February 16, 2023.

Exploration Drill Collar Coordinates

Drill hole

UTM East*

UTM North*

Elevation

(metres above

sea level)

Azimuth

(degrees)

Dip

(degrees)

Length

(metres)

Odyssey mine

MEV25-304

719125

5333939

334

-56

633

MEX23-309WZ

718682

5334767

307

162

-48

1,725

MEX24-322WBZA

718617

5334759

307

215

-70

2,382

MEX25-337

716867

5334695

317

190

-78

1,812

MEX25-337W

716867

5334695

317

190

-78

1,800

UGEG-075-054

717714

5334081

-342

166

-31

733

UGEG-075-056

717716

5334080

-339

174

-28

703

UGEG-083-016

717376

5333673

-498

234

-33

285

UGOD-058-005

717913

5334573

-264

114

-28

710

UGOD-075-032

718144

5334120

-254

351

-37

598

UGOD-075-043

718006

5334110

-261

-42

648

Marban

MRB25-005

278406

5336377

306

195

-46

483

MRB25-006

279318

5335303

300

196

-51

343

MRB25-015

279214

5335924

303

199

-60

157

MRB25-029

278945

5335900

303

176

-56

550

MRB25-030

279040

5335878

303

178

-50

631

MRB25-033

278982

5335542

300

180

-45

450

MRB25-034

278997

5335899

303

182

-62

307

MRB25-038

279101

5335557

298

180

-48

400

MRB25-038

279101

5335557

298

180

-48

400

MRB25-051

279034

5335735

301

184

-45

474

Detour Lake

DLM25-1144A

589207

5541635

284

180

-58

790

DLM25-1156

589736

5541449

282

179

-54

1,143

DLM25-1161

586878

5542169

300

182

-66

1,260

DLM25-1162

587320

5541904

295

175

-62

1,017

DLM25-1163

589674

5541450

284

178

-54

1,122

DLM25-1164

588125

5541728

287

178

-56

858

DLM25-1168

589267

5541636

284

180

-53

777

DLM25-1175

588122

5541831

287

179

-57

840

DLM25-1179B

586281

5541960

289

183

-67

750

DLM25-1188

586758

5542136

300

181

-65

1,152

Hope Bay

HBM25-349

434886

7548555

-74

738

HBM25-352

434626

7548127

-64

1,075

HBM25-354

435073

7547566

-61

801

HBM25-359

434891

7548722

-65

546

HBM25-364

434735

7548292

-72

1,112

HBM25-365

434979

7547863

-59

822

HBM25-367

435105

7548039

-62

661

HBM25-368A

434279

7548408

-53

1,200

HBM25-369

435071

7547856

-64

727

HBM25-376

435079

7547798

-61

747

HBM25-381

434334

7548811

-65

1,126

HBM25-383

434949

7547679

-62

933

Meadowbank

AMQ22-2852

606165

7255744

181

143

-73

1,095

AMQ22-2876A

606120

7255600

161

129

-75

1,143

AMQ24-3091

607955

7255946

165

297

-70

1,059

AMQ24-3091B

607955

7255946

165

297

-70

1,081

AMQ24-3105A

607828

7255878

167

295

-73

999

AMQ24-3157

606250

7255606

172

136

-78

1,003

AMQ24-3190

607118

7256280

111

328

-63

195

AMQ24-3191

607118

7256280

111

353

-63

231

AMQ25-3215B

606109

7255569

161

113

-65

892

AMQ25-3217A

606103

7255555

160

134

-69

961

AMQ25-3220

606316

7255690

163

141

-69

864

AMQ25-3220B

606316

7255690

163

141

-69

930

AMQ25-3221B

606380

7255686

164

147

-60

777

*Coordinate Systems: NAD 83 UTM Zone 17N for Odyssey and Marban; NAD 1983 UTM Zone 17N for Detour Lake; NAD 1983 UTM Zone 13N for Hope Bay; and NAD 1983 UTM Zone 14N for Meadowbank.

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

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

Net income - key line items:

Revenue from mine operations:

LaRonde mine

221,527

159,294

678,936

435,799

LZ5

69,484

47,363

202,235

127,392

LaRonde

291,011

206,657

881,171

563,191

Canadian Malartic

543,870

345,969

1,463,134

1,092,558

Goldex

108,124

81,384

319,373

237,304

Quebec

943,005

634,010

2,663,678

1,893,053

Detour Lake

653,283

437,920

1,642,343

1,140,293

Macassa

282,208

162,334

778,101

455,203

Ontario

935,491

600,254

2,420,444

1,595,496

Meliadine

267,332

208,209

880,138

630,724

Meadowbank

476,831

315,047

1,216,631

873,047

Nunavut

744,163

523,256

2,096,769

1,503,771

Fosterville

142,448

167,368

406,122

433,429

Australia

142,448

167,368

406,122

433,429

Kittila

190,208

148,652

519,238

395,875

Finland

190,208

148,652

519,238

395,875

Pinos Altos

88,586

68,336

221,999

184,526

La India

—

13,733

—

55,903

Mexico

88,586

82,069

221,999

240,429

Corporate and Other

15,628

—

15,628

—

Revenues from mining operations

$ 3,059,529

$ 2,155,609

$ 8,343,878

$ 6,062,053

Production costs

839,321

783,653

2,396,241

2,339,222

Total operating margin (i)

2,220,208

1,371,956

5,947,637

3,722,831

Amortization of property, plant and mine development

429,947

390,245

1,223,703

1,125,859

Exploration, corporate and other

214,693

141,921

337,176

557,928

Income before income and mining taxes

1,575,568

839,790

4,386,758

2,039,044

Income and mining taxes expense

520,610

272,672

1,448,358

652,718

Net income for the period

$ 1,054,958

$ 567,118

$ 2,938,400

$ 1,386,326

Net income per share — basic

$ 2.10

$ 1.13

$ 5.85

$ 2.78

Net income per share — diluted

$ 2.10

$ 1.13

$ 5.83

$ 2.77

Cash flows:

Cash provided by operating activities

$ 1,815,875

$ 1,084,532

$ 4,705,609

$ 2,829,043

Cash used in investing activities

$ (288,064)

$ (537,933)

$ (1,548,940)

$ (1,375,557)

Cash used in provided by financing activities

$ (732,120)

$ (493,545)

$ (1,734,241)

$ (813,813)

Realized prices:

Gold (per ounce)

$ 3,476

$ 2,492

$ 3,221

$ 2,297

Silver (per ounce)

$ 43.43

$ 30.69

$ 37.80

$ 28.31

Zinc (per tonne)

$ 2,694

$ 2,822

$ 2,728

$ 2,697

Copper (per tonne)

$ 10,190

$ 8,254

$ 9,696

$ 9,304

AGNICO EAGLE MINES LIMITED

SUMMARY OF OPERATIONS KEY PERFORMANCE INDICATORS

(thousands of United States dollars, except where noted)

Three Months Ended

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

Payable production (ii):

Gold (ounces):

LaRonde mine

59,172

47,313

201,319

161,388

LZ5

22,350

18,292

62,946

54,915

LaRonde

81,522

65,605

264,265

216,303

Canadian Malartic

156,875

141,392

489,179

509,169

Goldex

29,375

30,334

92,509

98,472

Quebec

267,772

237,331

845,953

823,944

Detour Lake

176,539

173,891

497,649

492,889

Macassa

78,832

70,727

252,224

203,048

Ontario

255,371

244,618

749,873

695,937

Meliadine

93,836

99,838

282,611

284,238

Meadowbank

136,152

133,502

378,213

387,695

Nunavut

229,988

233,340

660,824

671,933

Fosterville

34,966

65,532

128,155

188,064

Australia

34,966

65,532

128,155

188,064

Kittila

57,954

56,715

162,415

166,967

Finland

57,954

56,715

162,415

166,967

Pinos Altos

20,885

21,371

59,539

69,850

Creston Mascota

—

La India

—

4,529

—

21,190

Mexico

20,885

25,909

59,539

91,090

Total gold (ounces):

866,936

863,445

2,606,759

2,637,935

Silver (thousands of ounces)

630

602

1,843

1,845

Zinc (tonnes)

1,924

914

6,051

4,479

Copper (tonnes)

1,468

797

4,013

2,673

AGNICO EAGLE MINES LIMITED

SUMMARY OF OPERATIONS KEY PERFORMANCE INDICATORS

(thousands of United States dollars, except where noted)

Three Months Ended

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

Payable metal sold (iii):

Gold (ounces):

LaRonde mine

57,650

58,357

194,191

175,086

LZ5

19,574

18,920

62,450

55,436

LaRonde

77,224

77,277

256,641

230,522

Canadian Malartic

157,228

139,694

452,721

475,893

Goldex

28,479

31,671

92,339

99,896

Quebec

262,931

248,642

801,701

806,311

Detour Lake

188,008

176,585

509,522

497,215

Macassa

81,330

65,000

241,475

197,840

Ontario

269,338

241,585

750,997

695,055

Meliadine

76,739

83,900

274,197

276,878

Meadowbank

136,974

126,010

379,548

378,123

Nunavut

213,713

209,910

653,745

655,001

Fosterville

41,300

67,198

125,800

187,247

Australia

41,300

67,198

125,800

187,247

Kittila

55,000

59,464

162,000

171,448

Finland

55,000

59,464

162,000

171,448

Pinos Altos

21,734

23,700

59,573

69,510

La India

—

5,400

—

24,620

Mexico

21,734

29,100

59,573

94,130

Corporate and Other

4,547

—

4,547

—

Total gold (ounces):

868,563

855,899

2,558,363

2,609,192

Silver (thousands of ounces)

653

573

1,754

1,814

Zinc (tonnes)

1,977

1,748

6,180

4,802

Copper (tonnes)

1,438

806

3,998

2,681

Notes:

(i) Operating margin is not a recognized measure under IFRS Accounting Standards and this data may not be comparable to data reported by other gold producers. See Note Regarding Certain Measures of Performance– Operating Margin for more information on the Company's calculation and use of operating margin.

(ii) 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 September 30, 2025, it excludes 945 payable gold ounces produced at La India and 189 payable gold ounces produced at Creston Mascota as well as 2,442 ounces of gold recovered at Hope Bay. For the nine months ended September 30, 2025, it excludes 3,614 payable gold ounces produced at La India and 253 payable gold ounces produced at Creston Mascota as well as 2,442 ounces of gold recovered at Hope Bay.

(iii) Canadian Malartic payable metal sold excludes the 5.0% in-kind net smelter return royalty held by Osisko Gold Royalties Ltd. Detour Lake payable metal sold excludes the 2.0% in-kind net smelter royalty held by Franco-Nevada Corporation. Macassa payable metal sold excludes the 1.5% in-kind net smelter royalty held by Franco-Nevada Corporation. For the nine months ended September 30, 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

September 30, 2025

December 31, 2024

ASSETS

Current assets:

Cash and cash equivalents

$ 2,354,759

$ 926,431

Inventories

1,716,135

1,510,716

Income taxes recoverable

15,509

26,432

Fair value of derivative financial instruments

19,815

1,348

Other current assets

362,135

340,354

Total current assets

4,468,353

2,805,281

Non-current assets:

Goodwill

4,157,672

Property, plant and mine development

22,172,275

21,466,499

Investments

952,346

612,889

Deferred income and mining tax asset

24,784

29,198

Other assets

911,483

915,479

Total assets

$ 32,686,913

$ 29,987,018

LIABILITIES

Current liabilities:

Accounts payable and accrued liabilities

$ 1,064,013

$ 817,649

Share based liabilities

36,299

27,290

Interest payable

2,719

5,763

Income taxes payable

841,710

372,197

Current portion of long-term debt

—

90,000

Reclamation provision

104,102

58,579

Lease obligations

39,694

40,305

Fair value of derivative financial instruments

19,193

100,182

Total current liabilities

2,107,730

1,511,965

Non-current liabilities:

Long-term debt

195,994

1,052,956

Reclamation provision

1,236,085

1,026,628

Lease obligations

99,856

98,921

Share based liabilities

19,843

12,505

Deferred income and mining tax liabilities

5,259,773

5,162,249

Other liabilities

260,175

288,894

Total liabilities

9,179,456

9,154,118

EQUITY

Common shares:

Outstanding - 502,544,235 common shares issued, less 497,673 shares held in trust

18,812,225

18,675,660

Stock options

165,569

172,145

Retained earnings

4,368,424

2,026,242

Other reserves

161,239

(41,147)

Total equity

23,507,457

20,832,900

Total liabilities and equity

$ 32,686,913

$ 29,987,018

AGNICO EAGLE MINES LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF INCOME

(thousands of United States dollars, except per share amounts)

(Unaudited)

Three Months Ended

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

REVENUES

Revenues from mining operations

$ 3,059,529

$ 2,155,609

$ 8,343,878

$ 6,062,053

COSTS, INCOME AND EXPENSES

Production (i)

839,321

783,653

2,396,241

2,339,222

Exploration and corporate development

59,630

60,335

153,535

166,788

Amortization of property, plant and mine development

429,947

390,245

1,223,703

1,125,859

General and administrative

67,761

48,500

186,360

145,436

Finance costs

24,154

28,527

74,027

99,265

Loss (gain) on derivative financial instruments

20,242

(17,153)

(173,881)

48,390

Foreign currency translation (gain) loss

(6,559)

3,436

(18,190)

(748)

Care and maintenance

17,866

13,810

47,449

35,078

Other expenses

31,599

4,466

67,876

63,719

Income before income and mining taxes

1,575,568

839,790

4,386,758

2,039,044

Income and mining taxes expense

520,610

272,672

1,448,358

652,718

Net income for the period

$ 1,054,958

$ 567,118

$ 2,938,400

$ 1,386,326

Net income per share - basic

$ 2.10

$ 1.13

$ 5.85

$ 2.78

Net income per share - diluted

$ 2.10

$ 1.13

$ 5.83

$ 2.77

Adjusted net income per share - basic (ii)

$ 2.16

$ 1.14

$ 5.64

$ 2.97

Adjusted net income per share - diluted (ii)

$ 2.16

$ 1.14

$ 5.62

$ 2.97

Weighted average number of common shares outstanding (in thousands):

Basic

502,178

500,974

502,389

499,343

Diluted

503,539

502,106

503,768

500,196

Notes:

(i) Exclusive of amortization, which is shown separately

(ii) 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

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

OPERATING ACTIVITIES

Net income for the period

$ 1,054,958

$ 567,118

$ 2,938,400

$ 1,386,326

Add (deduct) adjusting items:

Amortization of property, plant and mine development

429,947

390,245

1,223,703

1,125,859

Deferred income and mining taxes

64,616

58,641

74,341

152,788

Unrealized loss (gain) on currency and commodity derivatives

50,343

(24,169)

(99,455)

38,363

Unrealized gain on warrants

(25,613)

(53)

(87,044)

(3,903)

Stock-based compensation

37,913

21,242

86,695

58,957

Foreign currency translation (gain) loss

(6,559)

3,436

(18,190)

(748)

Other

55,639

11,010

84,270

33,144

Changes in non-cash working capital balances:

Income taxes

189,741

95,930

491,108

142,732

Inventories

(143,052)

(156,871)

(165,196)

(165,727)

Other current assets

(11,022)

41,263

(17,784)

(16,237)

Accounts payable and accrued liabilities

122,303

80,704

198,893

74,622

Interest payable

(3,339)

(3,964)

(4,132)

2,867

Cash provided by operating activities

1,815,875

1,084,532

4,705,609

2,829,043

INVESTING ACTIVITIES

Additions to property, plant and mine development

(626,330)

(464,101)

(1,616,930)

(1,255,786)

Purchase of O3 Mining, net of cash and cash equivalents acquired

—

(121,960)

—

Contributions for acquisition of mineral assets

—

(4,197)

(8,400)

(11,296)

Purchase of equity securities and other investments

(60,142)

(73,341)

(198,503)

(114,644)

Proceeds on sale of equity securities and other investments

402,720

—

402,720

—

Other investing activities

(4,312)

3,706

(5,867)

6,169

Cash used in investing activities

(288,064)

(537,933)

(1,548,940)

(1,375,557)

FINANCING ACTIVITIES

Proceeds from Credit Facility

—

600,000

Repayment of Credit Facility

—

(600,000)

Repayment of Term Loan Facility

—

(275,000)

—

(275,000)

Repayment of Senior Notes

(400,000)

(100,000)

(950,000)

(100,000)

Debt financing and extinguishment costs

(8,245)

—

(8,245)

(3,544)

Repayment of lease obligations

(8,620)

(12,461)

(26,970)

(38,142)

Dividends paid

(186,350)

(176,314)

(542,695)

(497,829)

Repurchase of common shares

(149,855)

(30,080)

(309,843)

(106,121)

Proceeds on exercise of stock options

10,411

90,923

72,257

178,735

Common shares issued

10,539

9,387

31,255

28,088

Cash used in financing activities

(732,120)

(493,545)

(1,734,241)

(813,813)

Effect of exchange rate changes on cash and cash equivalents

1,503

2,172

5,900

(1,106)

Net increase in cash and cash equivalents during the period

797,194

55,226

1,428,328

638,567

Cash and cash equivalents, beginning of period

1,557,565

921,989

926,431

338,648

Cash and cash equivalents, end of period

$ 2,354,759

$ 977,215

$ 2,354,759

$ 977,215

SUPPLEMENTAL CASH FLOW INFORMATION

Interest paid

$ 7,795

$ 26,870

$ 46,213

$ 76,773

Income and mining taxes paid

$ 261,403

$ 119,178

$ 877,708

$ 377,555

SOURCE Agnico Eagle Mines Limited