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

Stock Symbol: AEM (NYSE and TSX)

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

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

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

Second quarter 2026 highlights:

_______________________________

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

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

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

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

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

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

Second Quarter 2026 Results Conference Call and Webcast Tomorrow

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

Via Webcast:

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

Via Phone:

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

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

Replay Archive:

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

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

Second Quarter 2026 Production and Costs

Production and Cost Results Summary

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025*

2026

2025*

Gold production** (ounces)

855,816

866,029

1,680,925

1,739,823

Gold sales (ounces)***

835,505

846,835

1,665,156

1,689,800

Production costs per ounce

$ 1,114

$ 911

$ 1,136

$ 895

Total cash costs per ounce

$ 1,054

$ 925

$ 1,073

$ 910

AISC per ounce

$ 1,459

$ 1,281

$ 1,471

$ 1,227

*

Total cash costs per ounce and AISC per ounce for the three and six months ended June 30, 2025 have been restated using the Company's revised composition for periods commencing on or after January 1, 2026, see Note Regarding Certain Measures of Performance below for further details. Using the Company's composition of this measure for periods ending on or prior to December 31, 2025, total cash costs per ounce were $933 and $918 for the consolidated Company and AISC per ounce was $1,289 and $1,235 for the consolidated Company for the three and six months ended June 30, 2025, respectively.

**

Gold production for the three months ended June 30, 2026 excludes payable gold production at La India and Creston Mascota of 440 and 58 ounces, respectively, which were produced from residual leaching. Gold production for the three months ended June 30, 2025 excludes payable gold production at La India and Creston Mascota of 858 ounces and 39 ounces, respectively, which were producing from residual leaching. Gold production for the six months ended June 30, 2026 excludes payable gold production at La India and Creston Mascota of 858 and 134 ounces, respectively, which were produced from residual leaching. Gold production for the six months ended June 30, 2025 excludes payable gold production at La India and Creston Mascota of 2,669 ounces and 64 ounces, respectively, which were producing from residual leaching.

***

Payable metals sold at Canadian Malartic, Detour Lake and Macassa exclude the in-kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines. For the six months ended June 30, 2025, payable metals sold excludes 2,500 payable gold ounces sold from La India.

Gold Production

Production Costs per Ounce

Total Cash Costs per Ounce

AISC per Ounce

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

Second Quarter 2026 Financial Results

Financial Results Summary

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Realized gold price (per ounce)

$ 4,483

$ 3,288

$ 4,672

$ 3,090

Net income (millions)

$ 1,600

$ 1,069

$ 3,296

$ 1,883

Adjusted net income (millions)

$ 1,541

$ 976

$ 3,246

$ 1,746

EBITDA (millions) 7

$ 2,762

$ 2,021

$ 5,758

$ 3,655

Adjusted EBITDA (millions) 7

$ 2,738

$ 1,914

$ 5,748

$ 3,504

Cash provided by operating activities (millions)

$ 2,144

$ 1,845

$ 3,490

$ 2,890

Cash provided by operating activities before changes in non-cash working capital balances (millions) 7

$ 2,112

$ 1,332

$ 4,344

$ 2,541

Capital expenditures* (millions) 7

$ 801

$ 538

$ 1,375

$ 957

Free cash flow (millions)

$ 1,335

$ 1,305

$ 2,067

$ 1,899

Free cash flow before changes in non-cash working capital balances (millions) 7

$ 1,303

$ 792

$ 2,921

$ 1,551

Net income per share (basic)

$ 3.19

$ 2.13

$ 6.58

$ 3.75

Adjusted net income per share (basic)

$ 3.07

$ 1.94

$ 6.48

$ 3.47

Cash provided by operating activities per share (basic)

$ 4.27

$ 3.67

$ 6.97

$ 5.75

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

$ 4.21

$ 2.65

$ 8.67

$ 5.06

Free cash flow per share (basic)

$ 2.66

$ 2.60

$ 4.13

$ 3.78

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

$ 2.60

$ 1.58

$ 5.83

$ 3.09

* Includes capitalized exploration

Net Income

_______________________________

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

Adjusted EBITDA

Cash Provided by Operating Activities

Free Cash Flow

Capital Expenditures

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

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

Summary of Capital Expenditures

(thousands)

Capital Expenditures*

Capitalized Exploration

Three Months Ended

Six Months Ended

Three Months Ended

Six Months Ended

Jun 30, 2026

Jun 30, 2026

Jun 30, 2026

Jun 30, 2026

Sustaining Capital Expenditures**

LaRonde

$ 19,512

$ 35,173

$ 1,038

$ 2,270

Canadian Malartic

22,442

45,203

1,221

2,208

Goldex

9,471

19,576

486

686

Quebec

51,425

99,952

2,745

5,164

Detour Lake

74,496

117,027

—

—

Macassa

12,089

31,634

765

1,592

Ontario

86,585

148,661

765

1,592

Meliadine

18,218

34,528

2,213

3,638

Meadowbank

23,738

46,893

—

—

Nunavut

41,956

81,421

2,213

3,638

Fosterville

24,982

47,522

422

918

Australia

24,982

47,522

422

918

Kittila

20,279

33,446

1,313

2,295

Finland

20,279

33,446

1,313

2,295

Pinos Altos

11,287

20,043

1,326

1,537

Mexico

11,287

20,043

1,326

1,537

Other

436

2,497

59

(914)

Total Sustaining Capital Expenditures

$ 236,950

$ 433,542

$ 8,843

$ 14,230

Development Capital Expenditures**

LaRonde

$ 21,636

$ 42,033

$ —

$ —

Canadian Malartic

116,544

201,636

6,548

14,067

Goldex

8,616

14,696

1,635

3,632

Quebec

146,796

258,365

8,183

17,699

Detour Lake

76,634

150,078

8,561

15,182

Detour Lake underground

14,109

18,375

26,686

38,960

Macassa

39,500

64,010

9,501

18,320

Upper Beaver

17,703

25,019

1,210

17,805

Ontario

147,946

257,482

45,958

90,267

Meliadine

20,271

38,645

4,148

8,329

Meadowbank

10,337

19,511

29

51

Hope Bay

116,843

148,607

26,084

39,918

Nunavut

147,451

206,763

30,261

48,298

Fosterville

6,909

11,223

4,545

8,022

Australia

6,909

11,223

4,545

8,022

Kittila

1,101

2,047

2,656

5,256

Finland

1,101

2,047

2,656

5,256

Pinos Altos

3,832

5,653

12

23

San Nicolás (50%)

3,241

4,567

1,238

2,629

Mexico

7,073

10,220

1,250

2,652

Other

4,998

8,464

—

—

Total Development Capital Expenditures

$ 462,274

$ 754,564

$ 92,853

$ 172,194

Total Capital Expenditures

$ 699,224

$ 1,188,106

$ 101,696

$ 186,424

*

Excludes capitalized exploration

**

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

2026 Guidance

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

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

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

2026 Guidance Summary

($ millions, unless otherwise stated)

2026

2026

Guidance Range

Mid-Point

Gold production (thousands of ounces)

3,300

3,500

3,400

Total cash costs per ounce 8

$ 1,020

$ 1,120

$ 1,070

AISC per ounce 8

$ 1,400

$ 1,550

$ 1,475

Capital expenditures 8 (excluding capitalized exploration)

$ 2,605

$ 2,825

$ 2,715

Capitalized exploration

$ 290

$ 330

$ 310

Capital expenditures (including capitalized exploration)

$ 2,895

$ 3,155

$ 3,025

Exploration and corporate development*

$ 275

$ 305

$ 290

Depreciation and amortization expense

$ 1,550

$ 1,750

$ 1,650

General and administrative expense**

$ 230

$ 260

$ 245

Other costs***

$ 75

$ 95

$ 85

NTI Payment 9

$ 185

$ 195

$ 190

Cash taxes

$ 3,400

$ 3,600

$ 3,500

Effective tax rate (%)

34 %

36 %

35 %

*

2026 Guidance includes $185 million to $205 million related to exploration and $90 million to $100 million related to corporate development

**

2026 Guidance includes share-based compensation, expected to be between $65 million and $75 million. General and administrative expense is expected to fluctuate based on changes in the Company's share price, which affects the costs related to stock-based compensation.

***

2026 Guidance includes $35 million to $45 million related to site maintenance costs primarily at Hope Bay and Northern Territory in Australia and $40 million to $50 million related to remediation expenses and other miscellaneous costs

_______________________________

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

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

Cash Taxes

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

Cost Considerations Amid Continued Market Uncertainty

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

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

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

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

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

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

Tariffs

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

Strong Net Cash Position Supports Increase in Shareholder Returns

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

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

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

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

Shareholder Returns

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

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

Normal Course Issuer Bid

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

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

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

Dividend Record and Payment Dates for the Third Quarter of 2026

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

Expected Dividend Record and Payment Dates for the 2026 Fiscal Year

Record Date

Payment Date

March 2, 2026

March 16, 2026*

June 1, 2026

June 15, 2026*

September 1, 2026

September 15, 2026**

December 1, 2026

December 15, 2026

* Paid

** Declared

Dividend Reinvestment Plan

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

International Dividend Currency Exchange

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

Commitment to Sustainability – Second Quarter 2026 Highlights

Key Value Drivers – Advancing the Next Phase of Growth

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

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

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

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

Odyssey Development

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

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

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

Odyssey Shaft #2

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

Exploration at Odyssey

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

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

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

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

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

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

[Odyssey – Composite Cross and Longitudinal Sections]

Marban

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

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

Wasamac

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

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

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

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

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

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

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

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

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

[ Detour Lake – Composite Longitudinal Section]

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

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

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

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

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

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

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

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

[ Upper Beaver – Composite Cross and Longitudinal Sections]

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Second Quarter 2026 Operating Results

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

ABITIBI REGION, QUEBEC

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

Abitibi Quebec – Operating Statistics

Three Months Ended June 30, 2026

LaRonde

Canadian

Malartic

Goldex

Consolidated

Abitibi

Quebec

Tonnes of ore milled (thousands)

713

4,387

817

5,917

Tonnes of ore milled per day

7,835

48,209

8,978

65,022

Gold grade (g/t)

3.80

1.06

1.35

1.43

Gold production (ounces)

81,261

135,243

29,277

245,781

Production costs per tonne (C$)

C$ 219

C$ 40

C$ 69

C$ 65

Minesite costs per tonne (C$) 10

C$ 183

C$ 52

C$ 71

C$ 70

Production costs per ounce

$ 1,390

$ 933

$ 1,394

$ 1,139

Total cash costs per ounce

$ 953

$ 1,185

$ 1,081

$ 1,096

Six Months Ended June 30, 2026

LaRonde

Canadian

Malartic

Goldex

Consolidated

Abitibi

Quebec

Tonnes of ore milled (thousands)

1,489

9,094

1,630

12,213

Tonnes of ore milled per day

8,227

50,243

9,006

67,476

Gold grade (g/t)

3.67

1.13

1.35

1.47

Gold production (ounces)

162,857

301,459

58,649

522,965

Production costs per tonne (C$)

C$ 186

C$ 39

C$ 69

C$ 61

Minesite costs per tonne (C$)

C$ 179

C$ 51

C$ 68

C$ 69

Production costs per ounce

$ 1,234

$ 850

$ 1,378

$ 1,029

Total cash costs per ounce

$ 990

$ 1,082

$ 998

$ 1,044

__________________________________

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

Regional Highlights

Update on Barnat Open Pit at Canadian Malartic

ABITIBI REGION, ONTARIO

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

Abitibi Ontario – Operating Statistics

Three Months Ended June 30, 2026

Detour Lake

Macassa

Consolidated

Abitibi Ontario

Tonnes of ore milled (thousands)

7,305

236

7,541

Tonnes of ore milled per day

80,275

2,593

82,868

Gold grade (g/t)

0.97

10.96

1.28

Gold production (ounces)

207,279

80,143

287,422

Production costs per tonne (C$)

C$ 29

C$ 413

C$ 41

Minesite costs per tonne (C$)

C$ 33

C$ 492

C$ 47

Production costs per ounce

$ 741

$ 877

$ 779

Total cash costs per ounce

$ 825

$ 1,041

$ 885

Six Months Ended June 30, 2026

Detour Lake

Macassa

Consolidated

Abitibi Ontario

Tonnes of ore milled (thousands)

14,053

385

14,438

Tonnes of ore milled per day

77,641

2,127

79,768

Gold grade (g/t)

0.93

11.33

1.21

Gold production (ounces)

384,298

135,736

520,034

Production costs per tonne (C$)

C$ 32

C$ 512

C$ 44

Minesite costs per tonne (C$)

C$ 34

C$ 557

C$ 48

Production costs per ounce

$ 838

$ 1,052

$ 894

Total cash costs per ounce

$ 894

$ 1,129

$ 955

Regional Highlights

NUNAVUT

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

Nunavut – Operating Statistics

Three Months Ended June 30, 2026

Meliadine

Meadowbank

Consolidated

Nunavut

Tonnes of ore milled (thousands)

648

1,013

1,661

Tonnes of ore milled per day

7,121

11,132

18,253

Gold grade (g/t)

4.77

3.41

3.94

Gold production (ounces)

97,516

100,165

197,681

Production costs per tonne (C$)

C$ 260

C$ 204

C$ 226

Minesite costs per tonne (C$)

C$ 215

C$ 167

C$ 186

Production costs per ounce

$ 1,255

$ 1,494

$ 1,376

Total cash costs per ounce

$ 1,033

$ 1,206

$ 1,121

Six Months Ended June 30, 2026

Meliadine

Meadowbank

Consolidated

Nunavut

Tonnes of ore milled (thousands)

1,206

2,112

3,318

Tonnes of ore milled per day

6,669

11,669

18,338

Gold grade (g/t)

5.10

3.49

4.08

Gold production (ounces)

191,347

214,027

405,374

Production costs per tonne (C$)

C$ 247

C$ 218

C$ 228

Minesite costs per tonne (C$)

C$ 241

C$ 162

C$ 191

Production costs per ounce

$ 1,128

$ 1,557

$ 1,355

Total cash costs per ounce

$ 1,096

$ 1,139

$ 1,119

Regional Highlights

AUSTRALIA

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

Fosterville – Operating Statistics

Three Months Ended

June 30, 2026

Six Months Ended

June 30, 2026

Tonnes of ore milled (thousands)

204

420

Tonnes of ore milled per day

2,242

2,320

Gold grade (g/t)

6.68

6.49

Gold production (ounces)

42,012

83,455

Production costs per tonne (A$)

A$ 365

A$ 336

Minesite costs per tonne (A$)

A$ 341

A$ 328

Production costs per ounce

$ 1,230

$ 1,165

Total cash costs per ounce

$ 1,114

$ 1,118

Highlights

FINLAND

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

Kittila – Operating Statistics

Three Months Ended

June 30, 2026

Six Months Ended

June 30, 2026

Tonnes of ore milled (thousands)

583

1,031

Tonnes of ore milled per day

6,407

5,696

Gold grade (g/t)

4.07

4.12

Gold production (ounces)

61,969

110,496

Production costs per tonne (€)

€ 100

€ 113

Minesite costs per tonne (€)

€ 104

€ 112

Production costs per ounce

$ 1,091

$ 1,227

Total cash costs per ounce

$ 1,133

$ 1,212

Highlights – Kittila

Highlights – Ikkari Project and Contingent Value Rights

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

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

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

MEXICO

Strong Performance at Pinos Altos and Cubiro Drives Higher Mill Throughput

Pinos Altos – Operating Statistics

Three Months

Ended June 30, 2026

Six Months Ended

June 30, 2026

Tonnes of ore milled (thousands)

442

869

Tonnes of ore milled per day

4,857

4,801

Gold grade (g/t)

1.54

1.45

Gold production (ounces)

20,951

38,601

Production costs per tonne

$ 133

$ 143

Minesite costs per tonne

$ 132

$ 134

Production costs per ounce

$ 2,796

$ 3,231

Total cash costs per ounce

$ 1,873

$ 2,073

About Agnico Eagle

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

About this News Release

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

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

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

Note Regarding Certain Measures of Performance

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

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

Total Cash Costs per Ounce

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

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

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

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

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

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

Minesite Costs per Tonne

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

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

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

Total Production Costs by Mine

Three Months Ended

June 30,

Six Months Ended

June 30,

(thousands of United States dollars)

2026

2025

2026

2025

LaRonde

112,940

83,734

200,948

170,378

Canadian Malartic

126,188

115,383

256,134

234,672

Goldex

40,826

37,690

80,825

72,346

Quebec

279,954

236,807

537,907

477,396

Detour Lake

153,621

141,330

322,000

276,276

Macassa

70,266

48,266

142,731

98,092

Ontario

223,887

189,596

464,731

374,368

Meliadine

122,373

113,093

215,932

196,915

Meadowbank

149,641

106,039

333,256

233,006

Nunavut

272,014

219,132

549,188

429,921

Fosterville

51,693

38,018

97,186

71,058

Australia

51,693

38,018

97,186

71,058

Kittila

67,623

55,064

135,632

110,897

Finland

67,623

55,064

135,632

110,897

Pinos Altos

58,587

50,570

124,701

93,280

Mexico

58,587

50,570

124,701

93,280

Production costs per the Second Quarter Financial Statements

$ 953,758

$ 789,187

$ 1,909,345

$ 1,556,920

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

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

Three Months Ended June 30, 2026

(United States dollars in thousands, except per ounce measures or as otherwise noted)

Mine

Payable

gold

production

(ounces) (i)

Production

costs ($)

Production

costs per

ounce ($)

Inventory

adjustments

($) (ii)

Realized

(gains)

and losses

on hedges

($)

In-kind

royalty

costs

and NTI

Payment

($) (iii)

Smelting,

refining and

marketing

charges ($)

Total cash

costs per

ounce (co-

product

basis) ($)

Impact of

by-product

metals ($)

Total cash

costs per

ounce (by-

product

basis) ($)

LaRonde

81,261

112,940

1,390

(12,495)

(29)

—

1,026

1,248

(23,990)

953

Canadian Malartic

135,243

126,188

933

7,881

(459)

30,977

418

1,220

(4,770)

1,185

Goldex

29,277

40,826

1,394

1,154

(10)

—

1,362

1,480

(11,671)

1,081

Quebec

245,781

279,954

1,139

(3,460)

(498)

30,977

2,806

1,260

(40,431)

1,096

Detour Lake

207,279

153,621

741

2,004

(1,098)

17,949

1,226

838

(2,685)

825

Macassa

80,143

70,266

877

10,262

(26)

2,909

50

1,041

(7)

1,041

Ontario

287,422

223,887

779

12,266

(1,124)

20,858

1,276

895

(2,692)

885

Meliadine

97,516

122,373

1,255

(21,670)

(32)

—

83

1,033

—

1,033

Meadowbank

100,165

149,641

1,494

3,670

(40)

(31,406)

107

1,218

(1,167)

1,206

Nunavut

197,681

272,014

1,376

(18,000)

(72)

(31,406)

190

1,127

(1,167)

1,121

Fosterville

42,012

51,693

1,230

(3,251)

(1,208)

—

44

1,125

(466)

1,114

Australia

42,012

51,693

1,230

(3,251)

(1,208)

—

44

1,125

(466)

1,114

Kittila

61,969

67,623

1,091

2,794

(1)

—

(41)

1,136

(157)

1,133

Finland

61,969

67,623

1,091

2,794

(1)

—

(41)

1,136

(157)

1,133

Pinos Altos

20,951

58,587

2,796

406

(869)

—

497

2,798

(19,384)

1,873

Mexico

20,951

58,587

2,796

406

(869)

—

497

2,798

(19,384)

1,873

Consolidated

855,816

953,758

1,114

(9,245)

(3,772)

20,429

4,772

1,129

(64,297)

1,054

Notes:

(i)

Gold production for the three months ended June 30, 2026 excludes 440 ounces of payable production of gold at La India and 58 ounces of payable production of gold at Creston Mascota, which were produced from residual leaching.

(ii)

Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic for the three months ended June 30, 2026 is $5.8 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.

(iii)

In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of total cash costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Three Months Ended June 30, 2025

(United States dollars in thousands, except per ounce measures or as otherwise noted)

Mine

Payable

gold

production

(ounces) (i)

Production

costs ($)

Production

costs per

ounce ($)

Inventory

adjustments

($) (ii)

Realized

(gains)

and losses

on hedges

($)

In-kind

royalty

costs

and NTI

Payment

($) (iii)

Smelting,

refining and

marketing

charges ($)

Total cash

costs per

ounce (co-

product

basis) ($)

Impact of

by-product

metals ($)

Total cash

costs per

ounce (by-

product

basis) ($)

LaRonde

91,252

83,734

918

2,459

76

—

3,751

986

(16,359)

807

Canadian Malartic

172,531

115,383

669

10,841

158

27,132

567

893

(2,940)

876

Goldex

33,118

37,690

1,138

(422)

31

—

1,154

1,161

(6,593)

962

Quebec

296,901

236,807

798

12,878

265

27,132

5,472

952

(25,892)

864

Detour Lake

168,272

141,330

840

2,429

199

9,383

1,697

921

(1,231)

914

Macassa

87,364

48,266

552

2,911

75

4,076

74

634

(674)

626

Ontario

255,636

189,596

742

5,340

274

13,459

1,771

823

(1,905)

816

Meliadine

90,263

113,093

1,253

(12,255)

106

—

144

1,120

(697)

1,112

Meadowbank

101,935

106,039

1,040

(1,348)

146

(6,377)

264

968

(1,382)

955

Nunavut

192,198

219,132

1,140

(13,603)

252

(6,377)

408

1,040

(2,079)

1,029

Fosterville

49,574

38,018

767

901

—

—

37

786

(156)

783

Australia

49,574

38,018

767

901

—

—

37

786

(156)

783

Kittila

50,357

55,064

1,093

2,909

(605)

—

(63)

1,138

(181)

1,134

Finland

50,357

55,064

1,093

2,909

(605)

—

(63)

1,138

(181)

1,134

Pinos Altos

21,363

50,570

2,367

1,323

(85)

—

309

2,440

(9,361)

2,002

Mexico

21,363

50,570

2,367

1,323

(85)

—

309

2,440

(9,361)

2,002

Consolidated

866,029

789,187

911

9,748

101

34,214

7,934

971

(39,574)

925

Notes:

(i)

Gold production for the three months ended June 30, 2025 excludes 858 ounces of payable production of gold at La India and 39 ounces of payable production of gold at Creston Mascota, which were produced from residual leaching.

(ii)

Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic for the three months ended March 31, 2025 is $1.4 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.

(iii)

In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of total cash costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Six Months Ended June 30, 2026

(thousands of United States dollars, except as noted)

Mine

Payable

gold

production

(ounces) (i)

Production

costs ($)

Production

costs

per ounce

($)

Inventory

adjustments

($) (ii)

Realized

(gains)

and

losses on

hedges ($)

In-kind

royalty

and NTI

Payment ($) (iii)

Smelting,

refining

and

marketing

charges ($)

Total cash

costs per

ounce (co-

product

basis) ($)

Impact of

by-

product

metals ($)

Total cash

costs per

ounce (by-

product

basis) ($)

LaRonde

162,857

200,948

1,234

4,669

(350)

—

4,314

1,287

(48,291)

990

Canadian Malartic

301,459

256,134

850

12,659

(1,164)

68,286

1,373

1,119

(11,232)

1,082

Goldex

58,649

80,825

1,378

(699)

(129)

—

2,423

1,405

(23,888)

998

Quebec

522,965

537,907

1,029

16,629

(1,643)

68,286

8,110

1,203

(83,411)

1,044

Detour Lake

384,298

322,000

838

(7,659)

(2,130)

35,318

2,148

910

(6,218)

894

Macassa

135,736

142,731

1,052

3,192

(329)

8,836

107

1,139

(1,270)

1,129

Ontario

520,034

464,731

894

(4,467)

(2,459)

44,154

2,255

970

(7,488)

955

Meliadine

191,347

215,932

1,128

(5,337)

(402)

—

222

1,100

(631)

1,096

Meadowbank

214,027

333,256

1,557

(2,401)

(500)

(82,689)

272

1,158

(4,189)

1,139

Nunavut

405,374

549,188

1,355

(7,738)

(902)

(82,689)

494

1,131

(4,820)

1,119

Fosterville

83,455

97,186

1,165

(1,469)

(2,022)

—

113

1,124

(466)

1,118

Australia

83,455

97,186

1,165

(1,469)

(2,022)

—

113

1,124

(466)

1,118

Kittila

110,496

135,632

1,227

(1,260)

(10)

—

(69)

1,215

(343)

1,212

Finland

110,496

135,632

1,227

(1,260)

(10)

—

(69)

1,215

(343)

1,212

Pinos Altos

38,601

124,701

3,231

(6,838)

(1,745)

—

1,598

3,050

(37,697)

2,073

Mexico

38,601

124,701

3,231

(6,838)

(1,745)

—

1,598

3,050

(37,697)

2,073

Consolidated

1,680,925

1,909,345

1,136

(5,143)

(8,781)

29,751

12,501

1,153

(134,225)

1,073

Notes:

(i)

Gold production for the six months ended June 30, 2026 excludes 858 ounces of payable production of gold at La India and 134 ounces of payable production of gold at Creston Mascota, which were produced from residual leaching.

(ii)

Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic for the six months ended June 30, 2026 is $9.4 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.

(iii)

In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of total cash costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Six Months Ended June 30, 2025

(thousands of United States dollars, except as noted)

Mine

Payable

gold

production

(ounces) (i)

Production

costs ($)

Production

costs per

ounce ($)

Inventory

adjustments

($) (ii)

Realized

(gains)

and

losses on hedges

($)

In-kind

royalty

and NTI

Payment ($) (iii)

Smelting,

refining

and

marketing

charges ($)

Total cash

costs per

ounce (co-

product

basis) ($)

Impact of

by-

product

metals

Total cash

costs per

ounce (by-

product

basis) ($)

LaRonde

182,743

170,378

932

(2,289)

789

—

6,530

960

(33,581)

776

Canadian Malartic

332,304

234,672

706

16,236

1,294

51,720

837

917

(5,529)

900

Goldex

63,134

72,346

1,146

(314)

332

—

2,121

1,180

(13,842)

961

Quebec

578,181

477,396

826

13,633

2,415

51,720

9,488

959

(52,952)

868

Detour Lake

321,110

276,276

860

2,065

1,077

18,083

3,000

936

(2,119)

929

Macassa

173,392

98,092

566

4,775

794

7,610

161

643

(1,175)

636

Ontario

494,502

374,368

757

6,840

1,871

25,693

3,161

833

(3,294)

826

Meliadine

188,775

196,915

1,043

(6,396)

998

—

228

1,016

(697)

1,012

Meadowbank

242,061

233,006

963

(3,011)

1,304

(13,795)

299

900

(2,132)

891

Nunavut

430,836

429,921

998

(9,407)

2,302

(13,795)

527

951

(2,829)

944

Fosterville

93,189

71,058

763

3,421

—

—

53

800

(270)

797

Australia

93,189

71,058

763

3,421

—

—

53

800

(270)

797

Kittila

104,461

110,897

1,062

1,803

(431)

—

(119)

1,074

(294)

1,071

Finland

104,461

110,897

1,062

1,803

(431)

—

(119)

1,074

(294)

1,071

Pinos Altos

38,654

93,280

2,413

3,523

29

—

568

2,520

(17,123)

2,077

Mexico

38,654

93,280

2,413

3,523

29

—

568

2,520

(17,123)

2,077

Consolidated

1,739,823

1,556,920

895

19,813

6,186

63,618

13,678

954

(76,762)

910

Notes:

(i)

Gold production for the six months ended June 30, 2025 excludes 2,669 ounces of payable production of gold at La India and 64 ounces of payable of gold at Creston Mascota, which were produced from residual leaching.

(ii)

Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic for the six months ended June 30, 2025 is $2.5 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.

(iii)

In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of total cash costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Reconciliation of Production Costs to Minesite Costs per Tonne by Mine

Three Months Ended June 30, 2026

(thousands, except per tonne measures or as otherwise noted)

Mine

Tonnes of

ore milled

(thousands)

Production

costs ($)

Production

costs in

local currency

Local

currency

production

costs per tonne

Inventory

adjustments

in local

currency (i)

In-kind

royalty and

NTI

Payment in

local

currency (ii)

Smelting,

refining and

marketing

charges in

local currency

Local

currency

minesite

costs per

tonne

LaRonde

713

$ 112,940

C$ 156,211

C$ 219

C$ (16,492)

C$ —

C$ (9,237)

C$ 183

Canadian Malartic

4,387

$ 126,188

C$ 173,987

C$ 40

C$ 53,982

C$ (1)

C$ —

C$ 52

Goldex

817

$ 40,826

C$ 56,582

C$ 69

C$ 1,711

C$ —

C$ —

C$ 71

Quebec

5,917

$ 279,954

C$ 386,780

C$ 65

C$ 39,201

C$ (1)

C$(9,237)

C$ 70

Detour Lake

7,305

$ 153,621

C$ 212,621

C$ 29

C$ 2,968

C$ 24,995

C$ —

C$ 33

Macassa

236

$ 70,266

C$ 97,364

C$ 413

C$ 14,563

C$ 4,192

C$ —

C$ 492

Ontario

7,541

$ 223,887

C$ 309,985

C$ 41

C$ 17,531

C$ 29,187

C$ —

C$ 47

Meliadine

648

$ 122,373

C$ 168,774

C$ 260

C$ (29,326)

C$ —

C$ —

C$ 215

Meadowbank

1,013

$ 149,641

C$ 206,735

C$ 204

C$ 5,440

C$ (42,776)

C$ —

C$ 167

Nunavut

1,661

$ 272,014

C$ 375,509

C$ 226

C$ (23,886)

C$ (42,776)

C$ —

C$ 186

Fosterville

204

$ 51,693

A$ 74,457

A$ 365

A$ (4,976)

A$ —

A$ —

A$ 341

Australia

204

$ 51,693

A$ 74,457

A$ 365

A$ (4,976)

A$ —

A$ —

A$ 333

Kittila

583

$ 67,623

€ 58,195

€ 100

€ 2,474

€ —

€ —

€ 104

Finland

583

$ 67,623

€ 58,195

€ 100

€ 2,474

€ —

€ —

€ 104

Pinos Altos

442

$ 58,587

$ 58,587

$ 133

$ (462)

$ —

$ —

$ 132

Mexico

442

$ 58,587

$ 58,587

$ 133

$ (462)

$ —

$ —

$ 132

Notes:

(i)

This inventory adjustment reflects production costs associated with the portion of production still in inventory. Included in inventory adjustments for Canadian Malartic for the three months ended June 30, 2026 is C$8.0 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.

(ii)

In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of minesite costs per tonne. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Three Months Ended June 30, 2025

(thousands, except per tonne measures or as otherwise noted)

Mine

Tonnes of

ore milled

(thousands)

Production

costs ($)

Production

costs (local

currency)

Production

costs per

tonne

(local

currency)

Inventory

adjustments

(local

currency) (i)

In-kind

royalty costs

(local

currency) (ii)

Smelting,

refining and

marketing

charges

(local currency)

Minesite

costs per

tonne (local

currency)

LaRonde

674

$ 83,734

C$ 116,035

C$ 172

C$ 2,966

C$ —

C$ (7,056)

C$ 166

Canadian Malartic

4,963

$ 115,383

C$ 159,348

C$ 32

C$ 14,254

C$ 37,270

C$ —

C$ 42

Goldex

819

$ 37,690

C$ 52,257

C$ 64

C$ (895)

C$ —

C$ —

C$ 63

Quebec

6,456

$ 236,807

C$ 327,640

C$ 51

C$ 16,325

C$ 37,270

C$ (7,056)

C$ 58

Detour Lake

6,836

$ 141,330

C$ 196,403

C$ 29

C$ 2,328

C$ 12,887

C$ —

C$ 31

Macassa

143

$ 48,266

C$ 66,005

C$ 462

C$ 3,954

C$ 5,584

C$ —

C$ 529

Ontario

6,979

$ 189,596

C$ 262,408

C$ 38

C$ 6,282

C$ 18,471

C$ —

C$ 41

Meliadine

545

$ 113,093

C$ 158,074

C$ 290

C$ (19,587)

C$ —

C$ —

C$ 254

Meadowbank

692

$ 106,039

C$ 145,678

C$ 211

C$ (2,682)

C$ (8,533)

C$ —

C$ 194

Nunavut

1,237

$ 219,132

C$ 303,752

C$ 246

C$ (22,269)

C$ (8,533)

C$ —

C$ 221

Fosterville

188

$ 38,018

A$ 58,194

A$ 309

A$ 1,135

A$ —

A$ —

A$ 315

Australia

188

$ 38,018

A$ 58,194

A$ 310

A$ 1,135

A$ —

A$ —

A$ 315

Kittila

482

$ 55,064

€ 48,363

€ 100

€ 1,996

€ —

€ —

€ 104

Finland

482

$ 55,064

€ 48,363

€ 102

€ 1,996

€ —

€ —

€ 104

Pinos Altos

441

$ 50,570

$ 50,570

$ 115

$ 1,238

$ —

$ —

$ 118

Mexico

441

$ 50,570

$ 50,570

$ 115

$ 1,238

$ —

$ —

$ 118

Notes:

(i)

This inventory adjustment reflects production costs associated with the portion of production still in inventory. Included in inventory adjustments for Canadian Malartic for the three months ended June 30, 2025 is C$2.0 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.

(ii)

In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of minesite costs per tonne. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Six Months Ended June 30, 2026

(thousands of United States dollars, except as noted)

Mine

Tonnes of

ore milled

(thousands)

Production

costs ($)

Production

costs in local

currency

Local currency

production

costs per tonne

Inventory

adjustments

in local currency (i)

In-kind

royalty and

NTI Payment

in local

currency (ii)

Smelting,

refining and

marketing

charges

in local

currency

Local

currency

minesite

costs per

tonne

LaRonde

1,489

200,948

C$ 277,238

C$ 186

C$ 7,141

C$ —

C$ (18,461)

C$ 179

Canadian Malartic

9,094

256,134

C$ 352,809

C$ 39

C$ 111,635

C$ —

C$ —

C$ 51

Goldex

1,630

80,825

C$ 111,634

C$ 69

C$ (943)

C$ —

C$ —

C$ 68

Quebec

12,213

537,907

C$ 741,681

C$ 61

C$ 117,833

C$ —

C$ (18,461)

C$ 69

Detour Lake

14,053

322,000

C$ 443,686

C$ 32

C$ (10,358)

C$ 48,829

C$ —

C$ 34

Macassa

385

142,731

C$ 197,137

C$ 512

C$ 4,879

C$ 12,400

C$ —

C$ 557

Ontario

14,438

464,731

C$ 640,823

C$ 44

C$ (5,479)

C$ 61,229

C$ —

C$ 48

Meliadine

1,206

215,932

C$ 297,484

C$ 247

C$ (7,152)

C$ —

C$ —

C$ 241

Meadowbank

2,112

333,256

C$ 459,496

C$ 218

C$ (2,927)

C$ (113,592)

C$ —

C$ 162

Nunavut

3,318

549,188

C$ 756,980

C$ 228

C$ (10,079)

C$ ( 113,592)

C$ —

C$ 191

Fosterville

420

97,186

A$ 140,927

A$ 336

A$ (3,106)

A$ —

A$ —

A$ 328

Australia

420

97,186

A$ 140,927

A$ 336

A$ (3,106)

A$ —

A$ —

A$ 328

Kittila

1,031

135,632

€ 116,176

€ 113

€ (888)

€ —

€ —

€ 112

Finland

1,031

135,632

€ 116,176

€ 113

€ (888)

€ —

€ —

€ 112

Pinos Altos

869

124,701

$ 124,701

$ 143

$ (8,583)

$ —

$ —

$ 134

Mexico

869

124,701

$ 124,701

$ 143

$ (8,583)

$ —

$ —

$ 134

Notes:

(i)

This inventory adjustment reflects production costs associated with the portion of production still in inventory. Included in inventory adjustments for Canadian Malartic for the six months ended June 30, 2026 is C$13.0 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.

(ii)

In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of minesite costs per tonne. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

Six Months Ended June 30, 2025

(thousands of United States dollars, except as noted)

Mine

Tonnes of

ore milled

(thousands)

Production

costs ($)

Production

costs in

local currency

Local

currency

production

costs per tonne

Inventory

adjustments

in local

currency (i)

In-kind royalty

and NTI

Payment in

local currency (ii)

Smelting,

refining and

marketing

charges in local

currency

Local

currency

minesite

costs per

tonne

LaRonde mine

709

125,186

C$ 176,243

C$ 249

C$ (1,519)

C$ —

C$ (13,203)

C$ 228

LZ5

640

45,192

C$ 63,551

C$ 99

C$ (1,666)

C$ —

C$ —

C$ 97

LaRonde

1,349

170,378

C$ 239,794

C$ 178

C$ (3,185)

C$ —

C$ (13,203)

C$ 166

Canadian Malartic

9,828

234,672

C$ 328,611

C$ 33

C$ 22,204

C$ 72,670

C$ —

C$ 43

Goldex

1,611

72,346

C$ 101,756

C$ 63

C$ (565)

C$ —

C$ —

C$ 63

Quebec

12,788

477,396

C$ 670,161

C$ 52

C$ 18,454

C$ 72,670

C$ (13,203)

C$ 59

Detour Lake

13,466

276,276

C$ 388,036

C$ 29

C$ 2,341

C$ 25,442

C$ —

C$ 31

Macassa

291

98,092

C$ 137,464

C$ 472

C$ 6,646

C$ 10,692

C$ —

C$ 531

Ontario

13,757

374,368

C$ 525,500

C$ 38

C$ 8,987

C$ 36,134

C$ —

C$ 41

Meliadine

1,103

196,915

C$ 276,854

C$ 251

C$ (10,860)

C$ —

C$ —

C$ 241

Meadowbank

1,729

233,006

C$ 325,614

C$ 188

C$ (5,107)

C$ (19,230)

C$ —

C$ 174

Nunavut

2,832

429,921

C$ 602,468

C$ 213

C$ (15,967)

C$ (19,230)

C$ —

C$ 200

Fosterville

351

71,058

A$ 110,167

A$ 314

A$ 5,316

A$ —

A$ —

A$ 329

Australia

351

71,058

A$ 110,167

A$ 314

A$ 5,316

A$ —

A$ —

A 329

Kittila

1,004

110,897

€ 101,506

€ 101

€ 634

€ —

€ —

€ 102

Finland

1,004

110,897

€ 101,506

€ 101

€ 634

€ —

€ —

€ 102

Pinos Altos

822

93,280

$ 93,280

$ 113

$ 3,552

$ —

$ —

$ 118

Mexico

822

93,280

$ 93,280

$ 113

$ 3,552

$ —

$ —

$ 118

Notes:

(i)

This inventory adjustment reflects production costs associated with the portion of production still in inventory. Included in inventory adjustments for Canadian Malartic for the six months ended June 30, 2025 is C$3.6 million associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.

(ii)

In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of minesite costs per tonne. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

All-in sustaining costs per ounce

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

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

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

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

(UnitedStates dollars per ounce, except where noted)

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Production costs per the Second Quarter Financial Statements (thousands of United States dollars)

$ 953,758

$ 789,187

$ 1,909,345

$ 1,556,920

Gold production (ounces) (i)

855,816

866,029

1,680,925

1,739,823

Production costs per ounce

$ 1,114

$ 911

$ 1,136

$ 895

Adjustments:

Inventory adjustments (ii)

(11)

12

(3)

11

In-kind royalty and NTI Payments (iii)

24

39

18

36

Realized gains and losses on hedges of production costs

(4)

—

(5)

4

Smelting, refining, and marketing charges

6

9

7

8

Total cash costs per ounce (co-product basis)

$ 1,129

$ 971

$ 1,153

$ 954

Impact of by-product metals

(75)

(46)

(80)

(44)

Total cash costs per ounce (by-product basis)

$ 1,054

$ 925

$ 1,073

$ 910

Adjustments:

Sustaining capital expenditures (including capitalized exploration)

286

273

265

234

General and administrative expenses (including stock option expense)

68

67

81

68

Non-cash reclamation provision and sustaining leases (iv)

51

16

52

15

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

$ 1,459

$ 1,281

$ 1,471

$ 1,227

Impact of by-product metals

75

46

80

44

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

$ 1,534

$ 1,327

$ 1,551

$ 1,271

Notes:

(i) Gold production for the three and six months ended June 30, 2026 excludes 440 and 858 ounces of payable production of gold at La India and 58 and 134 ounces of payable production of gold at Creston Mascota, respectively, which were produced from residual leaching. Gold production for the three and six months ended June 30, 2025 excludes 858 and 2,669 ounces of payable production of gold at La India and 39 and 64 ounces of payable production of gold at Creston Mascota, respectively, which were produced from residual leaching.

(ii) Under the Company's revenue recognition policy, revenue from contracts with customers is recognized upon the transfer of control over metals sold to the customer. As the total cash costs per ounce of gold produced are calculated on a production basis, an inventory adjustment is made to reflect the portion of production not yet recognized as revenue. Included in inventory adjustments for Canadian Malartic for the three and six months ended June 30, 2026 is C$5.8 and C$9.4 million, respectively, associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold. Included in inventory adjustments for Canadian Malartic for the three and six months ended June 30, 2025 is C$1.4 and C$2.5 million, respectively, associated with the fair value allocated to inventory on Canadian Malartic as part of the purchase price allocation from the acquisition, on March 31, 2023, of the 50% of Canadian Malartic that Agnico Eagle did not then hold.

(iii) In‑kind royalty adjustments in respect of Canadian Malartic, Detour Lake and Macassa related to in‑kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines, which are excluded from production costs under IFRS Accounting Standards and added back in the calculation of all-in sustaining costs per ounce. NTI Payments are incurred solely at Meadowbank and are included in production costs under IFRS Accounting Standards and subtracted from production costs in the calculation of total cash costs per ounce as described more fully above. For a discussion of NTI Payments, see "Total Cash Costs per Ounce".

(iv) Sustaining leases are lease payments related to sustaining assets.

Adjusted net income

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

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

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

Reconciliation of Net Income to Adjusted Net Income

Three Months Ended

June 30,

Six Months Ended

June 30,

(thousands)

2026

2025

2026

2025

Net income for the period - basic

$ 1,600,453

$ 1,068,711

$ 3,295,914

$ 1,883,442

Dilutive impact of cash settling LTIP

(4,539)

2,939

671

—

Net income for the period - diluted

$ 1,595,914

$ 1,071,650

$ 3,296,585

$ 1,883,442

Foreign exchange translation

20,128

(11,571)

19,395

(11,631)

Loss (gain) on derivative financial instruments

81,404

(125,264)

76,704

(194,123)

Environmental remediation

9,104

14,234

23,074

21,965

Net loss on disposal of property, plant and equipment

6,597

6,459

16,836

12,105

Purchase price allocation to inventory (i)

(5,785)

1,466

(9,426)

2,534

Debt extinguishment costs

—

5,407

—

5,407

Impairment loss (ii)

—

—

—

10,554

Gain on sale of investments

(155,319)

—

(155,319)

—

Multi-year donations

19,369

—

19,369

—

Other (iii)

—

2,077

—

2,077

Income and mining taxes adjustments (iv)

(35,289)

14,261

(40,129)

13,558

Adjusted net income for the period - basic

$ 1,540,662

$ 975,780

$ 3,246,418

$ 1,745,888

Adjusted net income for the period - diluted

$ 1,536,123

$ 978,719

$ 3,247,089

$ 1,745,888

Notes:

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

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

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

(iv) Income and mining taxes adjustments reflect items such as foreign currency translation recorded to the income and mining taxes expense, the impact of income and mining taxes on adjusted items, recognition of previously unrecognized capital losses, the result of income and mining taxes audits, impact of tax law changes and adjustments to prior period tax filings

EBITDA and adjusted EBITDA

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

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

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

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

Three Months Ended June 30,

Six Months Ended

June 30,

(thousands)

2026

2025

2026

2025

Net income for the period

$ 1,600,453

$ 1,068,711

$ 3,295,914

$ 1,883,442

Finance costs

16,039

27,429

31,795

49,873

Amortization of property, plant and mine development

423,256

376,956

843,522

793,756

Income and mining tax expense

722,402

547,908

1,586,565

927,748

EBITDA

2,762,150

2,021,004

5,757,796

3,654,819

Foreign exchange translation

20,128

(11,571)

19,395

(11,631)

Loss (gain) on derivative financial instruments

81,404

(125,264)

76,704

(194,123)

Environmental remediation

9,104

14,234

23,074

21,965

Net loss on disposal of property, plant and equipment

6,597

6,459

16,836

12,105

Purchase price allocation to inventory (i)

(5,785)

1,466

(9,426)

2,534

Debt extinguishment costs

—

5,407

—

5,407

Impairment loss (ii)

—

—

—

10,554

Gain on sale of investments

(155,319)

—

(155,319)

—

Multi-year donations

19,369

—

19,369

—

Other (iii)

—

2,077

—

2,077

Adjusted EBITDA

$ 2,737,648

$ 1,913,812

$ 5,748,429

$ 3,503,707

Notes:

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

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

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

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

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

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

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

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

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

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

Three Months Ended June 30,

Six Months Ended June 30,

(thousands, except where noted)

2026

2025

2026

2025

Cash provided by operating activities

$ 2,144,120

$ 1,845,488

$ 3,489,988

$ 2,889,734

Additions to property, plant and mine development

(809,255)

(540,476)

(1,423,004)

(990,600)

Free cash flow

1,334,865

1,305,012

2,066,984

1,899,134

Changes in income taxes

13,390

(478,106)

1,002,470

(301,367)

Changes in inventory

42,494

53,061

5,694

22,144

Changes in other current assets

18,741

38,152

29,755

6,762

Changes in accounts payable and accrued liabilities

(106,541)

(126,509)

(184,341)

(75,797)

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

$ 1,302,949

$ 791,610

$ 2,920,562

$ 1,550,876

Additions to property, plant and mine development

809,255

540,476

1,423,004

990,600

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

$ 2,112,204

$ 1,332,086

$ 4,343,566

$ 2,541,476

Cash provided by operating activities per share - basic

$ 4.27

$ 3.67

$ 6.97

$ 5.75

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

$ 4.21

$ 2.65

$ 8.67

$ 5.06

Free cash flow per share - basic

$ 2.66

$ 2.60

$ 4.13

$ 3.78

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

$ 2.60

$ 1.58

$ 5.83

$ 3.09

Operating margin

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

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

Three Months Ended

June 30,

Six Months Ended

June 30,

(thousands)

2026

2025

2026

2025

Net income for the period

$ 1,600,453

$ 1,068,711

$ 3,295,914

$ 1,883,442

Amortization of property, plant and mine development

423,256

376,956

843,522

793,756

Exploration and corporate development

61,531

52,100

114,087

93,905

General and administrative

57,948

57,890

135,798

118,599

Finance costs

16,039

27,429

31,795

49,873

Loss (gain) on derivative financial instruments

81,404

(125,264)

76,704

(194,123)

Environmental remediation

9,104

14,234

23,074

21,965

Foreign exchange translation

20,128

(11,571)

19,395

(11,631)

Care and maintenance

15,275

15,682

37,871

29,583

Gain on sale of investments

(155,319)

—

(155,319)

—

Other income and expenses

(3,161)

2,839

(16,344)

14,312

Income and mining taxes expense

722,402

547,908

1,586,565

927,748

Operating margin

$ 2,849,060

$ 2,026,914

$ 5,993,062

$ 3,727,429

Capital expenditures

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

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

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

(thousands)

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2024

Sustaining capital expenditures

$ 236,950

$ 233,600

$ 433,542

$ 401,676

Sustaining capitalized exploration

8,843

5,514

14,230

9,962

Development capital expenditures

462,274

226,646

754,564

412,870

Development capitalized exploration

92,853

72,175

172,194

132,679

Total Capital Expenditures

$ 800,920

$ 537,935

$ 1,374,530

$ 957,187

Working capital adjustments

8,335

2,541

48,474

33,413

Additions to property, plant and mine development per the

Second Quarter Financial Statements

$ 809,255

$ 540,476

$ 1,423,004

$ 990,600

Net cash

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

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

As at

As at

(thousands)

June 30, 2026

Dec 31, 2025

Long-term debt

$ (196,825)

$ (196,271)

Cash and cash equivalents

3,463,957

2,866,053

Net cash

$ 3,267,132

$ 2,669,782

Forward-Looking Non-GAAP Measures

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

Forward-Looking Statements

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

Notes to Investors Regarding Certain Project Evaluations

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

Key Project

2026 Gold

Production

Guidance

(000s oz)

Anticipated Production

Ramp-up

Year

Anticipated

Incremental Annual

Gold Production

(000s oz)

Anticipated

Incremental Annual Copper

Production

(tonnes)

Canadian Malartic

505 — 535

2033

400 — 500

—

Detour Lake

700 — 730

2030

300 — 350

—

Upper Beaver

—

2030

200 — 225

3,600

Hope Bay

—

2030

400 — 425

—

San Nicolás (50%)*

—

2030

—

50,000 — 60,000

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

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

Scientific and Technical Information

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

Additional Information

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

APPENDIX A – EXPLORATION DETAILS

East Gouldie and Odyssey deposits at Odyssey mine

Drill hole

Deposit / zone

From (metres)

To

(metres)

Depth of

midpoint

below

surface (metres)

Estimated

true

width

(metres)

Gold grade

(g/t)

(uncapped)

Gold grade

(g/t)

(capped)*

MEX25-354

East Gouldie

1,911.1

1,927.5

1,917

16.4**

1.9

1.9

and

East Gouldie

1,944.0

1,963.2

1,951

19.2**

4.7

3.8

including

1,945.5

1,949.4

1,945

3.8**

15.8

11.2

and

East Gouldie

1,972.6

1,988.4

1,978

15.8**

2.6

2.6

UGEG-071-034

East Gouldie

508.0

519.6

1,046

10.8

6.6

6.6

and

East Gouldie

562.0

581.0

1,088

17.2

1.9

1.9

and

East Gouldie

630.5

642.5

1,133

11.6

6.1

6.1

including

632.2

634.9

1,130

2.7

12.6

12.6

UGEG-071-035

East Gouldie

480.6

493.5

984

12.5

4.6

4.6

and

East Gouldie

637.6

644.7

1,078

6.9

11.1

9.2

including

640.8

642.3

1,078

1.4

29.3

20.0

UGEG-071-043

East Gouldie

469.2

476.5

945

7.0

12.8

9.2

including

473.0

475.0

946

1.9

33.2

20.0

UGEG-075-062

East Gouldie

554.0

568.5

916

14.3

5.1

5.1

UGEG-075-063

East Gouldie

552.0

565.0

925

12.8

5.4

5.4

including

554.7

559.0

924

4.3

12.0

12.0

UGOD-057-013

Ody N / Artemis

573.5

580.5

1,039

7.0**

10.7

10.7

and

Ody N / Artemis

592.5

606.0

1,057

13.5**

4.5

4.5

including

601.5

604.5

1,060

3.0**

10.5

10.5

and

Ody N / Artemis

617.5

632.0

1,078

14.6**

21.9

13.7

including

618.5

624.5

1,075

6.0**

37.3

20.0

and

Ody N / Artemis

638.0

649.0

1,093

11.0**

3.5

3.5

UGOD-057-017

Ody N / Artemis

547.5

554.2

1,003

6.7**

7.4

7.4

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

**Core length. True width undetermined.

West Pit and West Extension zones at Detour Lake

Drill hole

Zone

From

(metres)

To

(metres)

Depth of

midpoint

below

surface

(metres)

Estimated

true width

(metres)

Gold grade

(g/t) (uncapped)*

DLM26-1290

West Extension

977.6

983.0

836

4.8

20.8

DLM26-1291W

West Extension

1,141.9

1,160.0

1,011

15.9

2.0

including

1,146.1

1,150.5

1,009

3.9

4.4

DLM26-1297AW

West Extension

629.0

632.0

564

2.5

13.5

and

West Extension

680.0

688.0

610

6.7

4.2

and

West Extension

1,042.0

1,054.0

902

10.8

4.6

including

1,042.0

1,045.0

899

2.7

14.7

DLM26-1324

West Pit

260.0

278.0

229

15.3

4.5

including

271.0

276.8

233

4.9

10.0

and

West Pit

313.0

318.0

268

4.3

8.3

DLM26-1331A

West Extension

825.0

829.4

704

4.0

12.1

and

West Extension

1,196.0

1,200.0

973

3.8

6.4

DLM26-1332

West Pit

234.0

286.0

223

43.9

2.6

including

245.0

248.8

212

3.2

6.8

and including

272.0

277.0

235

4.2

15.9

DLM26-1334A

West Pit

280.0

354.5

275

62.3

2.5

including

301.0

308.1

264

5.9

15.2

DLM26-1335W

West Pit

295.1

362.1

282

57.0

2.0

including

304.4

311.0

265

5.6

13.1

DLM26-1336B

West Pit

307.0

328.7

271

18.7

3.3

including

316.0

319.4

271

2.9

12.6

and

West Pit

352.9

356.0

301

2.7

7.8

and

West Pit

375.0

378.5

320

3.0

20.6

DLM26-1337

West Pit

394.1

410.8

340

14.4

1.9

and

West Pit

443.3

461.0

380

15.4

5.5

DLM26-1345AW

West Pit

264.5

274.8

216

9.3

5.8

including

264.5

267.5

194

2.7

16.9

*Results from Detour Lake are uncapped.

Upper Beaver deposit

Drill hole

Zone

From (metres)

To (metres)

Depth of

mid-point below

surface (metres)

Estimated

true width

(metres)

Gold

grade

(g/t) (uncapped)

Gold grade

(g/t) (capped)

Copper grade

(%) (uncapped)

Copper grade

(%) (capped)*

KLUB26-915W1

Zone 107

593.2

596.8

517

2.6

4.9

4.9

0.76

0.76

and

Zone 107

600.3

605.0

523

3.4

2.6

2.6

0.64

0.64

KLUB26-915W7

Zone 107

621.7

629.1

558

6.8

8.4

8.4

0.10

0.10

including

Zone 107

627.5

629.1

561

1.5

17.4

17.4

0.31

0.31

KLUB26-915W8

Zone 107

657.5

662.5

599

4.6

2.6

2.6

0.25

0.25

KLUB26-917

Zone 107

703.0

705.8

646

2.7

12.4

12.4

0.01

0.01

including

Zone 107

703.0

703.7

645

0.7

47.3

47.3

0.01

0.01

KLUB26-917W1

Zone 107

713.0

719.5

661

5.8

7.7

7.7

0.01

0.01

including

Zone 107

719.0

719.5

663

0.5

56.5

56.5

0.01

0.01

KLUB26-917W5

Zone 107

727.0

731.5

682

4.5

8.3

8.3

0.26

0.26

and

Zone 107

736.3

742.0

691

5.6

12.0

12.0

0.55

0.55

including

Zone 107

738.8

740.4

692

1.6

28.8

28.8

1.01

1.01

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

Madrid deposit at Hope Bay

Drill hole

Zone

From

(metres)

To

(metres)

Depth of

midpoint

below

surface

(metres)

Estimated

true width

(metres)

Gold grade

(g/t) (uncapped)

Gold grade

(g/t)

(capped)*

HBM26-464

Suluk

155.0

167.0

129

8.9

6.7

6.7

HBM26-466

Patch 7

708.0

726.9

609

15.4

13.7

13.7

HBM26-469

Patch 7

1,172.0

1,176.0

852

3.8

31.6

31.6

including

1,175.0

1,176.0

853

0.9

94.4

94.4

HBM26-470

Patch 7

707.0

710.0

605

2.1

30.6

30.6

HBM26-478A

Patch 7

977.0

998.4

710

15.6

28.8

15.2

including

979.0

980.0

706

0.7

142.5

100.0

including

987.0

988.0

710

0.7

348.0

100.0

including

996.4

997.4

714

0.7

94.1

94.1

HBM26-481

Patch 7

362.0

375.0

328

11.3

18.5

18.5

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

Tiriganiaq and Wesmeg North deposits at Meliadine

Drill hole

Deposit

Lode / zone

From (metres)

To (metres)

Depth of

midpoint

below

surface

(metres)

Estimated

true width

(metres)

Gold grade

(g/t)

(uncapped)

Gold grade

(g/t)

(capped)*

ML425-8846-D15

Tiriganiaq

1374

171.6

178.5

694

6.6

10.9

10.9

ML425-10071-D9

Tiriganiaq

1370

251.1

256.0

663

4.9

9.0

9.0

ML425-9408-D1C

Wesmeg N

987

401.7

405.0

855

3.0

10.1

10.1

ML425-9408-D20

Wesmeg N

930

401.0

408.7

744

7.7

22.2

11.3

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

Fosterville

Drill hole

Zone

From

(metres)

To

(metres)

Depth of

midpoint

below surface

(metres)

Estimated

true width

(metres)

Gold grade (g/t)

(uncapped)*

UDH5161

Cardinal

381.0

391.8

1,785

10.2

9.6

UDH5162A

Cardinal

380.1

385.3

1,789

4.5

16.8

UDH5178

Swan

444.3

467.9

1,845

21.4

5.1

UDH5188

SW Linker 1

272.3

278.7

810

6.0

9.9

UDH5214

Curie

182.2

189.6

477

4.8

9.1

*Results from the Fosterville mine are uncapped.

Main zone at Kittila

Drill hole

Zone / Area

From

(metres)

To

metres)

Depth of

midpoint below

surface (metres)

Estimated

true width

(metres)

Gold grade

(g/t) (uncapped)

SEU25-602

Main / Seuru

70.0

78.0

961

6.7

5.9

SEU25-700L

Main / Seuru

572.0

584.6

1,401

6.2

5.4

* Results from Kittila are uncapped.

Exploration Drill Collar Coordinates

Drill hole

UTM East*

UTM North*

Elevation

(metres above

sea level)

Azimuth

(degrees)

Dip

(degrees)

Length

(metres)

Odyssey mine

MEX25-354

717791

5334354

310

105

-89

2,151

UGEG-071-034

717759

5333976

-346

172

-55

720

UGEG-071-035

717759

5333976

-346

176

-47

700

UGEG-071-043

717760

5333976

-346

170

-42

672

UGEG-075-062

717713

5334082

-340

173

-33

756

UGEG-075-063

717713

5334081

-340

176

-33

655

UGOD-057-013

718007

5334110

-261

18

-55

767

UGOD-057-017

718008

5334110

-261

15

-54

729

Detour Lake

DLM26-1290

584833

5542350

296

185

-60

1,152

DLM26-1291W

586232

5542299

297

183

-68

1,239

DLM26-1297AW

586435

5542230

296

181

-67

1,257

DLM26-1324

587028

5541651

292

178

-59

375

DLM26-1331A

586515

5542354

298

189

-64

1,302

DLM26-1334A

587127

5541642

292

177

-63

426

DLM26-1335W

587046

5541680

294

178

-62

450

DLM26-1336B

587229

5541630

292

179

-60

450

DLM26-1337

587064

5541723

297

176

-61

576

DLM26-1345AW

587086

5541659

293

178

-55

350

Upper Beaver

KLUB26-915W1

591844

5336055

302

150

-69

656

KLUB26-915W7

591844

5336055

302

150

-69

680

KLUB26915W8

591844

5336055

302

150

-69

695

KLUB26-917

591783

5336010

304

130

-75

743

KLUB26-917W1

591783

5336010

304

130

-75

749

KLUB26-917W5

591783

5336010

304

130

-75

768

Hope Bay

HBM26-464

434720

7549517

26

104

-51

413

HBM26-466

434650

7548666

26

70

-70

831

HBM26-469

434279

7548409

38

57

-57

1,246

HBM26-470

434630

7548587

26

69

-69

859

HBM26-478A

434334

7548811

51

77

-63

1,125

HBM26-481

435107

7548039

38

68

-71

635

Meliadine

ML425-8846-D15

538846

6988969

-493

163

-57

334

ML425-10071-D9

540071

6989004

-432

176

-47

422

ML425-9408-D1C

539408

6988922

-425

202

-73

742

ML425-9408-D20

539408

6988922

-424

169

-50

621

Fosterville

UDH5161

1486

4973

3695

82

-58

404

UDH5162A

1485

4973

3695

92

-61

407

UDH5178

1487

4945

3690

33

-56

484

UDH5188

2978

12054

4556

104

-54

341

UDH5214

3297

11802

4650

38

8

209

Kittila

SEU25-602

2558636

7539798

-738

64

-2

211

SEU25-700L

2558633

7539697

-726

90

-66

642

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

APPENDIX B – FINANCIAL INFORMATION

AGNICO EAGLE MINES LIMITED

SUMMARY OF OPERATIONS KEY PERFORMANCE INDICATORS

(thousands of UnitedStates dollars, except where noted)

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Net income - key line items:

Revenue from mine operations:

LaRonde

373,589

311,077

775,516

590,160

Canadian Malartic

597,767

497,217

1,352,620

919,264

Goldex

138,937

115,280

305,473

211,249

Quebec

1,110,293

923,574

2,433,609

1,720,673

Detour Lake

872,436

545,174

1,816,666

989,060

Macassa

294,473

260,231

600,917

495,893

Ontario

1,166,909

805,405

2,417,583

1,484,953

Meliadine

517,888

354,517

894,482

612,806

Meadowbank

427,534

334,715

1,021,960

739,800

Nunavut

945,422

689,232

1,916,442

1,352,606

Fosterville

207,651

153,845

388,327

263,674

Australia

207,651

153,845

388,327

263,674

Kittila

263,792

167,942

515,690

329,030

Finland

263,792

167,942

515,690

329,030

Pinos Altos

108,760

76,103

231,032

133,413

Mexico

108,760

76,103

231,032

133,413

Corporate and Other

(9)

—

(276)

—

Revenues from mining operations

$ 3,802,818

$ 2,816,101

$ 7,902,407

$ 5,284,349

Production costs

953,758

789,187

1,909,345

1,556,920

Amortization of property, plant and mine development

423,256

376,956

843,522

793,756

Gross profit

2,425,804

1,649,958

5,149,540

2,933,673

Exploration, corporate and other

102,949

33,339

267,061

122,483

Income before income and mining taxes

2,322,855

1,616,619

4,882,479

2,811,190

Income and mining taxes expense

722,402

547,908

1,586,565

927,748

Net income for the period

$ 1,600,453

$ 1,068,711

$ 3,295,914

$ 1,883,442

Net income per share — basic

$ 3.19

$ 2.13

$ 6.58

$ 3.75

Net income per share — diluted

$ 3.17

$ 2.12

$ 6.56

$ 3.74

Cash flows:

Cash provided by operating activities

$ 2,144,120

$ 1,845,488

$ 3,489,988

$ 2,889,734

Cash used in investing activities

$ (1,189,583)

$ (610,936)

$ (1,954,442)

$ (1,260,876)

Cash used in financing activities

$ (600,715)

$ (819,155)

$ (935,367)

$ (1,002,121)

Realized prices:

Gold (per ounce)

$ 4,483

$ 3,288

$ 4,672

$ 3,090

Silver (per ounce)

$ 64.98

$ 35.72

$ 74.82

$ 34.45

AGNICO EAGLE MINES LIMITED

SUMMARY OF OPERATIONS KEY PERFORMANCE INDICATORS

(thousands of UnitedStates dollars, except where noted)

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Payable production (i):

Gold (ounces):

LaRonde

81,261

91,252

162,857

182,743

Canadian Malartic

135,243

172,531

301,459

332,304

Goldex

29,277

33,118

58,649

63,134

Quebec

245,781

296,901

522,965

578,181

Detour Lake

207,279

168,272

384,298

321,110

Macassa

80,143

87,364

135,736

173,392

Ontario

287,422

255,636

520,034

494,502

Meliadine

97,516

90,263

191,347

188,775

Meadowbank

100,165

101,935

214,027

242,061

Nunavut

197,681

192,198

405,374

430,836

Fosterville

42,012

49,574

83,455

93,189

Australia

42,012

49,574

83,455

93,189

Kittila

61,969

50,357

110,496

104,461

Finland

61,969

50,357

110,496

104,461

Pinos Altos

20,951

21,363

38,601

38,654

Mexico

20,951

21,363

38,601

38,654

Total gold (ounces):

855,816

866,029

1,680,925

1,739,823

Silver (thousands of ounces)

653

602

1,252

1,213

Zinc (tonnes)

1,101

2,384

2,120

4,126

Copper (tonnes)

1,581

1,161

3,060

2,545

AGNICO EAGLE MINES LIMITED

SUMMARY OF OPERATIONS KEY PERFORMANCE INDICATORS

(thousands of UnitedStates dollars, except where noted)

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Payable metal sold (ii):

Gold (ounces):

LaRonde

81,092

88,908

159,539

179,417

Canadian Malartic

130,634

150,830

285,931

295,493

Goldex

29,087

33,167

60,843

63,860

Quebec

240,813

272,905

506,313

538,770

Detour Lake

195,070

166,034

386,419

321,514

Macassa

65,482

79,145

127,516

160,145

Ontario

260,552

245,179

513,935

481,659

Meliadine

114,094

108,188

191,344

197,458

Meadowbank

95,700

102,224

217,461

242,574

Nunavut

209,794

210,412

408,805

440,032

Fosterville

46,000

46,500

84,000

84,500

Australia

46,000

46,500

84,000

84,500

Kittila

58,300

51,000

110,900

107,000

Finland

58,300

51,000

110,900

107,000

Pinos Altos

20,429

20,839

41,586

37,839

Mexico

20,429

20,839

41,586

37,839

Total gold (ounces):

835,505

846,835

1,665,156

1,689,800

Silver (thousands of ounces)

570

574

1,187

1,101

Zinc (tonnes)

1,153

2,391

2,337

4,203

Copper (tonnes)

1,589

1,162

3,098

2,560

Notes:

(i) Payable production (a non-GAAP non-financial performance measure) is the quantity of mineral produced during a period contained in products that are or will be sold by the Company, whether such products are sold during the period or held as inventories at the end of the period. For the three months ended June 30, 2026 and 2025, it excludes 440 payable gold ounces and 858 payable gold ounces produced at La India and 58 payable gold ounces and 39 payable gold ounces produced at Creston Mascota. For the six months ended June 30, 2026 and 2025, it excludes 858 payable gold ounces and 2,669 payable gold ounces produced at La India and 134 payable gold ounces and 64 payable gold ounces produced at Creston Mascota.

(ii) Payable metals sold at Canadian Malartic, Detour Lake and Macassa exclude the in-kind royalties of 5.0%, 2.0% and 1.5%, respectively, paid in respect of gold production at such mines. For the six months ended June 30, 2025, payable metals sold excludes 2,500 ounces from La India.

AGNICO EAGLE MINES LIMITED

CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS

(thousands of United States dollars, except share amounts)

(Unaudited)

As at

As at

June 30, 2026

December 31, 2025

ASSETS

Current assets:

Cash and cash equivalents

$ 3,463,957

$ 2,866,053

Inventories

1,623,497

1,698,830

Fair value of derivative financial instruments

3,525

34,428

Other current assets

432,603

394,631

Total current assets

5,523,582

4,993,942

Non-current assets:

Goodwill

4,157,672

4,157,672

Property, plant and mine development

25,735,534

22,850,540

Investments

1,161,559

1,508,252

Other assets

1,216,696

960,885

Total assets

$ 37,795,043

$ 34,471,291

LIABILITIES

Current liabilities:

Accounts payable and accrued liabilities

$ 1,278,680

$ 1,033,444

Share based liabilities

30,365

31,722

Income taxes payable

278,144

1,226,347

Reclamation provision

222,016

144,537

Lease obligations

34,306

30,480

Fair value of derivative financial instruments

89,101

5,676

Total current liabilities

1,932,612

2,472,206

Non-current liabilities:

Long-term debt

196,825

196,271

Reclamation provision

1,286,556

1,318,476

Lease obligations

89,219

94,719

Share based liabilities

12,785

23,921

Deferred income and mining tax liabilities

5,489,781

5,373,013

Other liabilities

183,535

250,221

Total liabilities

9,191,313

9,728,827

EQUITY

Common shares:

Outstanding — 506,899,374 common shares issued, less 534,510 shares held in trust

20,147,781

18,699,862

Stock options

166,303

166,775

Retained earnings

8,130,478

5,463,906

Other reserves

159,168

411,921

Total equity

28,603,730

24,742,464

Total liabilities and equity

$ 37,795,043

$ 34,471,291

AGNICO EAGLE MINES LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF INCOME

(thousands of UnitedStates dollars, except per share amounts)

(Unaudited)

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

REVENUES

Revenues from mining operations

$ 3,802,818

$ 2,816,101

$ 7,902,407

$ 5,284,349

COST OF SALES

Production costs

953,758

789,187

1,909,345

1,556,920

Amortization of property, plant and mine development

423,256

376,956

843,522

793,756

Gross profit

2,425,804

1,649,958

5,149,540

2,933,673

EXPENSES (INCOME)

Exploration and corporate development

61,531

52,100

114,087

93,905

General and administrative

57,948

57,890

135,798

118,599

Finance costs

16,039

27,429

31,795

49,873

Loss (gain) on derivative financial instruments

81,404

(125,264)

76,704

(194,123)

Foreign exchange translation

20,128

(11,571)

19,395

(11,631)

Care and maintenance

15,275

15,682

37,871

29,583

Gain on sale of investments

(155,319)

—

(155,319)

—

Other income and expenses

5,943

17,073

6,730

36,277

Income before income and mining taxes

2,322,855

1,616,619

4,882,479

2,811,190

Income and mining taxes expense

722,402

547,908

1,586,565

927,748

Net income for the period

$ 1,600,453

$ 1,068,711

$ 3,295,914

$ 1,883,442

Net income per share - basic

$ 3.19

$ 2.13

$ 6.58

$ 3.75

Net income per share - diluted

$ 3.17

$ 2.12

$ 6.56

$ 3.74

Adjusted net income per share - basic (i)

$ 3.07

$ 1.94

$ 6.48

$ 3.47

Adjusted net income per share - diluted (i)

$ 3.05

$ 1.94

$ 6.46

$ 3.46

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

Basic

501,659

502,579

500,950

502,489

Diluted

502,906

504,360

502,361

503,885

Note:

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

AGNICO EAGLE MINES LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

(thousands of UnitedStates dollars)

(Unaudited)

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

OPERATING ACTIVITIES

Net income for the period

$ 1,600,453

$ 1,068,711

$ 3,295,914

$ 1,883,442

Add (deduct) adjusting items:

Amortization of property, plant and mine development

423,256

376,956

843,522

793,756

Gain on sale of investments

(155,319)

—

(155,319)

—

Deferred income and mining taxes

99,283

(8,766)

158,820

9,725

Unrealized loss (gain) on currency and commodity derivatives

92,988

(118,678)

117,042

(149,798)

Unrealized loss (gain) on warrants

12,296

(7,263)

(6,693)

(61,431)

Stock-based compensation

11,695

21,389

46,626

48,782

Foreign exchange translation

20,128

(11,571)

19,395

(11,631)

Other

7,424

11,308

24,259

28,631

Changes in non-cash working capital balances:

Income taxes

(13,390)

478,106

(1,002,470)

301,367

Inventories

(42,494)

(53,061)

(5,694)

(22,144)

Other current assets

(18,741)

(38,152)

(29,755)

(6,762)

Accounts payable and accrued liabilities

106,541

126,509

184,341

75,797

Cash provided by operating activities

2,144,120

1,845,488

3,489,988

2,889,734

INVESTING ACTIVITIES

Additions to property, plant and mine development

(809,255)

(540,476)

(1,423,004)

(990,600)

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

—

—

—

(121,960)

Purchase of Central Lapland properties, net of cash and cash equivalents

(578,408)

—

(578,408)

—

Contributions for acquisition of mineral assets

(6,354)

(4,575)

(11,634)

(8,400)

Purchase of equity securities and other investments

(73,389)

(70,304)

(218,091)

(138,361)

Proceeds on sale of equity securities and other investments

260,646

—

260,646

—

Other investing activities

17,177

4,419

16,049

(1,555)

Cash used in investing activities

(1,189,583)

(610,936)

(1,954,442)

(1,260,876)

FINANCING ACTIVITIES

Repayment of Senior Notes

—

(550,000)

—

(550,000)

Repayment of lease obligations

(8,531)

(9,172)

(15,769)

(18,350)

Dividends paid

(206,854)

(180,778)

(410,019)

(356,345)

Repurchase of common shares

(399,942)

(99,938)

(567,775)

(159,988)

Proceeds on exercise of stock options

1,548

9,820

32,982

61,846

Common shares issued

13,064

10,913

25,214

20,716

Cash used in financing activities

(600,715)

(819,155)

(935,367)

(1,002,121)

Effect of exchange rate changes on cash and cash equivalents

(1,734)

3,856

(2,275)

4,397

Net increase in cash and cash equivalents during the period

352,088

419,253

597,904

631,134

Cash and cash equivalents, beginning of period

3,111,869

1,138,312

2,866,053

926,431

Cash and cash equivalents, end of period

$ 3,463,957

$ 1,557,565

$ 3,463,957

$ 1,557,565

SUPPLEMENTAL CASH FLOW INFORMATION

Interest paid

$ 2,776

$ 37,233

$ 3,339

$ 38,418

Income and mining taxes paid

$ 623,176

$ 79,703

$ 2,411,498

$ 616,305

SOURCE Agnico Eagle Mines Limited