AGNICO EAGLE REPORTS THIRD QUARTER 2026 RESULTS – STRONG FREE CASH FLOW GENERATION DRIVEN BY SOLID OPERATIONAL PERFORMANCE; ON TRACK TO ACHIEVE 2026 PRODUCTION AND COST GUIDANCE

Stock Symbol: AEM (NYSE and TSX)

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

TORONTO, Oct. 28, 2026 /PRNewswire/ — Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico Eagle” or the “Company”) today reported financial and operating results for the third quarter of 2026.

“Our business continues to perform well, reflecting the consistent execution of our teams across the Company. Solid operational performance contributed to strong free cash flow generation and we remain on track to achieve our full year guidance, with production expected near the lower end of the range and costs within the range despite inflationary cost pressures,” said Ammar Al-Joundi, President and Chief Executive Officer. “We are making excellent progress across our project pipeline, with the focus on continuing our long track record of increasing gold production per share for our owners. Construction is ramping up at Hope Bay, the first phase of shaft sinking is complete at Odyssey and project infrastructure continues to advance at Upper Beaver and Detour Lake. Our strong free cash flow generation provides the flexibility to advance these growth opportunities while continuing to return significant capital to shareholders through dividends and share repurchases.”

Third quarter 2026 highlights:

• Disciplined execution supports solid operational performance – Payable gold production¹ was 814,012 ounces, in line with the adjusted plan, at production costs per ounce of $1,193, total cash costs per ounce² of $1,133 and all-in sustaining costs (“AISC”) per ounce² of $1,648. The strong operating performance was led by Detour Lake, Fosterville and Kittila
  
  
  
  
• Strong quarterly free cash flow drives quarterly financial results – Solid operational performance, combined with realized gold prices³ of $4,264 per ounce in the third quarter, resulted in strong free cash flow. The Company reported quarterly net income of $1,353 million or $2.67 per share and adjusted net income⁴ of $1,324 million or $2.62 per share. The Company generated cash provided by operating activities of $1,755 million or $3.47 per share and free cash flow⁴ of $852 million or $1.68 per share
  
  
  
  
• Financial strength and flexibility further enhanced – The Company increased its cash balance by $149 million to $3,613 million as at September 30, 2026, resulting in a net cash position⁵ of $3,416 million with total debt outstanding of $197 million as at September 30, 2026. Subsequent to the quarter-end, the Company amended and restated its $2 billion unsecured revolving bank credit facility, increasing it to $3 billion and with a maturity date of October 28, 2031
  
  
  
  
• Annual gold production remains at lower end of guidance range, while total cash costs per once and AISC per ounce expected near upper end of annual guidance range – Expected payable gold production for the full year 2026 remains near the lower end of the guided range of 3.3 to 3.5 million ounces, reflecting the adjusted mine plan of the Barnat open pit at Canadian Malartic following the rock mass movement reported on July 2, 2026. Full year total cash costs per ounce and AISC per ounce guidance for 2026 are expected to be near the upper end of the guidance range of $1,020 to $1,120 and $1,400 to $1,550, respectively, reflecting the adjusted production plan and input cost pressures, primarily related to diesel. Expected total capital expenditures for 2026 (excluding capitalized exploration) remain between $2.6 billion and $2.8 billion and expected capitalized exploration remains between $290 million and $330 million. Further details are set out in the 2026 Guidance Summary section below
  
  
  
  
• Strong quarterly shareholder returns – The Company returned a total of $478 million to shareholders during the third quarter of 2026, including the declaration of a quarterly dividend of $0.45 per share and the repurchase of 1,297,940 common shares under the Company’s normal course issuer bid (“NCIB”). Share repurchases were completed at an average price of $192.60 per share for an aggregate cost of approximately $250 million. At current spot gold prices and subject to operational needs, the Company anticipates returning more than 50% of free cash flow to shareholders in 2026 through dividends and share repurchases
  
  
  
  
• Update on key value drivers and pipeline projects in the third quarter of 2026
  • Canadian Malartic – Following completion of the first phase of shaft sinking at Odyssey in July 2026, work advanced on the headframe changeover, dismantling of the sinking infrastructure and construction of the first loading station, supporting the planned start of production through Shaft #1 in the second quarter of 2027. The Company also continued to advance its evaluation of the optimal mining rate at East Gouldie, which will determine the size, scale and location of a potential second shaft at Odyssey. Exploration drilling continued to yield positive results in multiple areas of the Odyssey mine, including 3.8 grams per tonne (“g/t”) gold over 38.8 metres at 1,707 metres depth in the deepest portion of the East Gouldie deposit; 2.9 g/t gold over 27.6 metres (core length) at 1,585 metres depth and 3.8 g/t gold over 36.3 metres (core length) at 1,622 metres depth in the Eclipse zone; and 9.5 g/t gold over 18.9 metres (core length) at 1,061 metres depth in the new internal Artemis porphyry sub-zone within the Odyssey North zone
    
    
    
    
  • Detour Lake – Development of the underground project continued to advance during the quarter, with the exploration ramp reaching a depth of 207 metres and development toward the planned bulk sample area. Progress also continued on key infrastructure, including the overburden excavation for the conveyor ramp portal, as well as the ongoing camp expansion and the multi-services building. High-intensity drilling from surface near the exploration ramp in the West Pit zone continued in the third quarter with a highlight intercept of 18.9 g/t gold over 26.4 metres at 331 metres depth, including 182.7 g/t gold over 2.7 metres at 320 metres depth. Drilling into the West Extension zone had highlight intercepts of 22.4 g/t gold over 2.9 metres at 682 metres depth and 2.5 g/t gold over 29.1 metres at 733 metres depth, approximately 1.0 kilometre west of the mineral resource pit outline

• • Upper Beaver – Development activities performed well during the quarter, with ramp development advancing to a depth of 210 metres, achieving a fifth consecutive quarterly productivity record, and shaft sinking reaching a depth of 732 metres. The Company expects to reach the 760 Level and commence excavation of the 760 Level station in the fourth quarter of 2026. The Company continues to evaluate opportunities to expand exploration activities, including the extension of the shaft to a depth of 1,220 metres and the addition of drill stations to support infill drilling and potential mineral resource growth in the lower portions of the deposit
    
    
    
    
  • Hope Bay – Following the positive investment decision announced in May 2026, construction of the Hope Bay project continued to advance and remained on schedule. Detailed engineering reached approximately 73% completion and overall construction progress reached approximately 13% as at September 30, 2026. The Company also successfully completed the 2026 sealift campaign, positioning the project to maintain construction momentum through 2027. A new framework agreement with the Kitikmeot Inuit Association was finalized in October 2026, extending the Hope Bay Inuit Impact and Benefit Agreement to 2056 and expanding its coverage across the entire Hope Bay Belt. Conversion drilling at Patch 7 at the Madrid deposit during the third quarter had highlights of 37.1 g/t gold over 2.8 metres at 686 metres depth and 8.5 g/t gold over 8.6 metres at 413 metres depth. At the Boston deposit, the Company completed its first exploration drilling program since acquiring Hope Bay in 2021, with highlights of 11.0 g/t gold over 12.3 metres at 298 metres depth in the core of the B2 zone and 17.0 g/t gold over 4.5 metres at 308 metres depth in the B3 zone to the south
    
    
    
    
  • San Nicolás – Minas de San Nicolás continued to advance engineering, critical infrastructure and secondary permitting for power and water infrastructure. A potential project approval decision is expected in late 2027 or early 2028, subject to the receipt of the additional required permits and authorizations

Third Quarter 2026 Results Conference Call and Webcast Tomorrow

The Company’s senior management will host a conference call on Thursday, October 29, 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 46013#. The conference call replay will be available until November 29, 2026.

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

Third Quarter 2026 Production and Costs

Gold Production

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

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

Production Costs per Ounce

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

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

Total Cash Costs per Ounce

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

AISC per Ounce

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

Refer to the Company’s Management Discussion and Analysis for the third 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.

Third Quarter 2026 Financial Results

Net Income

• Third Quarter of 2026
  • Net income increased when compared to the prior-year period primarily due to higher revenues from mining operations from higher realized gold prices and lower care and maintenance expenses related to Hope Bay, partially offset by higher production costs related to labour, royalties and diesel prices and higher income and mining taxes

• • Net income of $1,353 million ($2.67 per share) includes the following items (net of tax): Non-recurring tax adjustments of $45 million ($0.09 per share), purchase price allocation to inventory of $11 million ($0.02 per share), net losses on derivative financial instruments of $8 million ($0.02 per share), foreign exchange losses of $7 million ($0.01 per share) and other adjustments including reclamation and net asset disposals of $12 million ($0.03 per share). Excluding these items results in adjusted net income of $1,324 million or $2.62 per share

• First Nine Months of 2026 – Net income increased when compared to the prior-year period primarily due to higher revenues from mining operations from higher realized gold prices and a gain on sale of investments, partially offset by higher income and mining taxes, higher production costs related to labour, royalties and diesel prices and losses on derivative financial instruments (compared to gains in the prior-year period)

Adjusted EBITDA

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

Cash Provided by Operating Activities

• Third Quarter of 2026 – Cash provided by operating activities decreased when compared to the prior-year period due to unfavourable changes in non-cash components of working capital in the current period, primarily related to an increase in supplies inventory in Nunavut resulting from the summer sealift season. Cash provided by operating activities before changes in non-cash components of working capital increased when compared to the prior-year period primarily due to the reasons described above related to the increase in adjusted EBITDA

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

Free Cash Flow

• Third Quarter and First Nine Months of 2026 – Free cash flow decreased when compared to the prior-year periods due to unfavourable changes in non-cash components of working capital as described above related to cash provided by operating activities and higher development capital expenditures related to the Hope Bay, Odyssey and Detour Lake underground projects in each such period

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

Capital Expenditures

In the third quarter of 2026, capital expenditures were $848 million and capitalized exploration expenditures were $73 million, for a total of $921 million. For the first nine months of 2026, capital expenditures were $2,036 million and capitalized exploration expenditures were $260 million, for a total of $2,296 million.

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

2026 Guidance

As 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 adjusted mine plan for the Barnat open pit at Canadian Malartic. Full year total cash costs per ounce and AISC per ounce guidance for 2026 are expected to be near the upper end of the guidance range of $1,020 to $1,120 and $1,400 to $1,550, respectively, reflecting the adjusted production plan and input cost pressures. Refer to the “Abitibi Region, Quebec” section below for further updates on the Barnat open pit.

Total capital expenditures expected for 2026 (excluding capitalized exploration) remain between $2.6 billion and $2.8 billion and expected capitalized exploration remains between $290 million and $330 million.

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

Cost Considerations Amid Continued Market Uncertainty

The Company is experiencing input cost pressures, primarily related to diesel and consumables. Despite these pressures, total cash costs per ounce and all-in sustaining costs per ounce are expected to remain within the full year guidance ranges, albeit towards the upper end.

Diesel

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). The 2026 sealift purchases across the Company’s Nunavut operations were successfully completed amidst heightened volatility, representing approximately 185 million litres of diesel required for the balance of 2026 and through to the 2027 sealift. The Company’s Nunavut diesel inventories were delivered, with purchases made at prices below current spot prices though approximately 45% higher than budgeted for 2026 (net of hedges). This is expected to reduce the Company’s exposure to further diesel price volatility and supply chain disruptions for the remainder of 2026 and into 2027.

Diesel now represents approximately 11% of the Company’s operating costs, comprising approximately 8% related to direct consumption for mobile equipment and on-site power generation and approximately 3% related to transportation and freight. For the fourth quarter of 2026, the Company expects the 2026 Nunavut sealift purchases to impact production costs by approximately $21 million. The Company also estimates that for every 10% change in diesel prices, total cash costs per ounce for the fourth quarter of 2026 will be affected by approximately $3 per ounce from direct diesel exposure and approximately $1 per ounce from indirect diesel exposure related to transportation. The Company will continue to monitor market conditions and opportunistically add to its diesel hedges.

Consumables

Consumables and supplies, which represent approximately 30% of the Company’s total operating costs, are beginning to face inflationary pressures of approximately 6%. Year-over-year price increases were most notable for steel-related products (approximately 6%), drill bits (approximately 50%, driven in part by tungsten export controls from China), cyanide (approximately 7%) and grinding media (approximately 4%).

Tariffs

The trade disputes initiated by U.S. tariffs on certain Canadian imports, and the subsequent retaliatory tariffs imposed by Canada on certain U.S. imports in September 2026 following the cessation of trade negotiations in August 2026 continue to create uncertainty. The Company expects its revenue to remain unaffected, as its gold production is refined in Canada, Australia and Europe. Following a review of its supply chain exposure, the Company estimates that the Canadian retaliatory tariffs will increase total cash costs per ounce by approximately $5 per ounce. This estimated impact has been incorporated into the cost guidance provided in this news release. The Company continues to monitor developments in the trade environment and evaluate alternative sourcing strategies where appropriate to mitigate potential impacts on its operations and cost structure.

Foreign Exchange

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 62% 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 1.41 C$/US$.

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

Cash Taxes

The Company’s expected effective tax rate continues to be approximately 34% to 36% for the full year 2026. For the first nine months of 2026, total cash taxes paid were $2.9 billion, which included a $1.3 billion payment in the first quarter of 2026 for the remaining cash tax liability for 2025. The remaining cash taxes in 2026 are expected to range between $525 million and $575 million.

Depreciation and Amortization Expense

The Company now expects depreciation and amortization expense to be towards the upper end of the $1.55 billion to $1.75 billion guidance range, primarily due to a higher amortization rate used at Canadian Malartic following adjustments to the Barnat open pit mine plan. The adjusted mine plan uses a higher units-of-production amortization rate resulting from a decrease in the total tonnes over the life of mine.

Strong Cash Flow Generation and Enhanced Liquidity Support a Balanced Capital Allocation Strategy

Cash and cash equivalents increased by $149 million from the prior quarter. The increase is primarily due to $1,755 million of cash provided by operating activities, partially offset by $903 million of capital expenditures (including working capital adjustments) and $478 million returned to shareholders during the quarter through dividends and share repurchases under the NCIB.

As at September 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 September 30, 2026 and available liquidity under the facility remained at approximately $2 billion, not including the uncommitted $1 billion accordion feature.

In order to maintain financial flexibility, and consistent with past practice, the Company plans to file a new base shelf prospectus in November 2026. The Company has no present intention to offer securities pursuant to the base shelf prospectus and the notice set out in this paragraph does not constitute an offer of any securities for sale or an offer to sell or the solicitation of an offer to buy any securities.

As a result of the increase in cash and cash equivalents of $149 million, net cash increased to $3,416 million in the third quarter of 2026 compared to the prior quarter balance of $3,267 million.

Subsequent to the quarter-end, the Company amended and restated its $2 billion unsecured revolving bank credit facility, increasing the facility to $3 billion with an increased uncommitted accordion feature of $1.5 billion, and with a maturity date of October 28, 2031. In addition to the increased size and extended term of the unsecured revolving bank credit facility, the amended and restated credit facility includes enhancements to its pricing, terms and conditions that reinforces the Company’s strong investment grade credit profile. This aligns with the size and scale of the Company while improving its financial flexibility.

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. 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.

The Company prioritizes delivering stable returns to shareholders through its dividend program and continuing to reinvest in the business to support long-term value creation. Excess cash flow may be returned opportunistically through the NCIB when the Company believes market conditions provide an attractive opportunity to repurchase shares. At current spot gold prices and subject to operational needs, the Company anticipates returning more than 50% of free cash flow to shareholders in 2026 through dividends and share repurchases.

The Company paid $228 million and $678 million in gross dividends in the third quarter of 2026 and the first nine months of 2026, respectively, at $0.45 per common share outstanding per quarter.

In the third quarter of 2026, the Company repurchased 1,297,940 common shares under the NCIB at an average price of $192.60 per share for aggregate purchases of approximately $250 million. In the first nine months of 2026, the Company repurchased 4,255,098 common shares under the NCIB at an average price of $187.94 per share for aggregate purchases of approximately $800 million.

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 December 15, 2026 to shareholders of record as of December 1, 2026. Agnico Eagle has declared a cash dividend every year since 1983.

Expected Dividend Record and Payment Dates for the 2026 Fiscal Year

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.

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 and Hope Bay, 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

During the third quarter of 2026, mine development advanced by 4,874 metres, with work focused on developing the East Gouldie production levels and advancing the main ramp toward the shaft bottom, which reached a depth of 1,232 metres as of September 30, 2026. Development rates improved through the quarter as the Company continued to advance productivity initiatives, including haul truck payload optimization and the expanded use of automated equipment. In the fourth quarter of 2026, the extension of the auxiliary cage will allow for workforce transportation down to level 111. This is expected to further improve productivity by reducing travel times and congestion at the main ramp.

The first phase of shaft sinking of Odyssey Shaft #1 was completed on July 9, 2026, reaching a depth of 1,586 metres, and excavation of level 158 was completed in August. Preparations for the headframe changeover to the production hoist continued during the quarter, with structural and mechanical work advancing, including the installation of the production sheaves and the dismantling of the sinking infrastructure. The second phase of shaft sinking is expected to commence in 2029 and be completed in 2031, extending the shaft to its final planned depth of 1,870 metres, while the third loading station, located between levels 172 and 181, is expected to be commissioned in 2031.

At the first loading station between levels 102 and 111, development and construction activities remained focused on advancing underground infrastructure to support the planned start of shaft-hoisted production from East Gouldie in the second quarter of 2027. Excavation of the rock-handling infrastructure is substantially complete, while development of the maintenance shop and service bays progressed as planned. Construction of the crusher room advanced during the quarter, with the completion of the overhead crane installation and coarse ore liner installation in the silo. Mechanical and electrical installation of the crusher and apron feeders continued to progress, while initial concrete work commenced in the loading conveyor area.

Construction of key surface infrastructure continued to advance during the quarter. Phase 2 of the paste plant (20,000 tonnes per day (“tpd”) capacity) progressed with the completion of the binder silo installation, while electrical work continued ahead of testing in the fourth quarter of 2026 and commissioning in the second quarter of 2027. At the production hoist, lubrication and cooling piping circuits were completed, program testing and simulations were successfully finalized, and electrical and control system installations continued in support of commissioning 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. Current work is focused on mine design, planning and geotechnical analysis to determine the optimal mining rate at the East Gouldie deposit, which will inform the size, design and overall scope of the proposed second shaft. Studies supporting the surface layout, headframe design and permitting activities continue to progress and the Company expects to submit a decree modification application in the first quarter of 2027, with the permitting process expected to take approximately 18 months.

Exploration at Odyssey

During the third quarter of 2026, ten surface rigs and seven underground rigs were in operation at the Odyssey mine, drilling a total of 35,100 metres (128,400 metres during the first nine months of 2026). This was supplemented by an additional three surface rigs, completing 15,500 metres (85,700 metres during the first nine months of 2026) 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 deeper areas of the East Gouldie deposit, in the subparallel Eclipse zone and in the Odyssey and East Malartic deposits.

In the deepest portions of the East Gouldie deposit, underground drilling returned several high-grade results, including: 2.2 g/t gold over 14.8 metres at 1,860 metres depth and 2.8 g/t gold over 34.1 metres at 1,951 metres depth in hole MEX25-354Z, which is a branch from the Shaft #2 pilot hole; and 2.5 g/t gold over 41.5 metres at 1,901 metres depth, including 5.1 g/t gold over 7.5 metres at 1,915 metres depth, in hole MEX26-361ZB in an intersection located further west and outside the current mineral resource. The results further demonstrate the potential to extend mineralization at East Gouldie at depth in proximity to planned infrastructure.

Conversion drilling at depth in East Gouldie further east and below the current inferred mineral resource was highlighted by hole MEX26-356ZA intersecting 3.8 g/t gold over 38.8 metres at 1,707 metres depth, including 5.9 g/t gold over 4.6 metres at 1,702 metres depth and 8.1 g/t gold over 7.4 metres at 1,719 metres depth.

Exploration drilling into the Eclipse zone confirmed and extended the zone, with highlights of 2.9 g/t gold over 27.6 metres (core length) at 1,585 metres depth and 3.8 g/t gold over 36.3 metres (core length) at 1,622 metres depth in hole MEX26-361ZB; and 4.0 g/t gold over 10.6 metres (core length) at 940 metres depth in hole MEX26-364Z.

At the Odyssey North zone, conversion drilling intersected significant mineralization within the internal Artemis porphyry sub-zone. Highlights included: hole UGOD-102-022 intersecting 9.5 g/t gold over 18.9 metres (core length) at 1,061 metres depth; hole UGOD-102-023 intersecting 8.8 g/t gold over 14.2 metres (core length) at 1,030 metres depth; and hole UGOD-102-027 intersecting 3.6 g/t gold over 25.0 metres (core length) at 989 metres depth. The results have further enhanced the geological understanding of this new sub-zone which is currently undergoing geological reinterpretation.

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

[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 third quarter of 2026, the Company initiated a new drilling program targeting the extension of mineralization at depth northwest of the main Marban deposit.

Wasamac

At Wasamac, located approximately 100 kilometres from the Canadian Malartic mill, 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 third quarter of 2026, the Company continued to advance studies to complete the Environmental and Social Impact Assessment, alongside engagement with stakeholders.

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

Detour Lake is Canada’s largest gold mine, with gold production of 692,675 ounces at a processing rate of 76,353 tpd in 2025. The Company is advancing an expansion project that will combine continued open pit mining with a proposed 11,200 tpd underground operation and an expansion of mill throughput to 79,450 tpd. This integrated operation is expected to support annual gold production of approximately one million ounces by 2030.

The Detour Lake underground exploration ramp reached a total length of 1,889 metres of lateral development and a depth of 207 metres as at September 30, 2026. Development is currently progressing from two active headings with dedicated crews, supporting advancement of the exploration ramp and the lateral development towards the mineralized domain where the bulk sample is planned. The Company plans to add a third development crew in 2027 to advance the future conveyor ramp.

Results from the bulk sample will inform the planned mine development within one of the main mineralized domains  within the West Extension zone, which could enable the commencement of underground production as early as 2028. The Company expects to provide an updated project outlook in 2027.

Other activities supporting the underground project continued to advance during the third quarter of 2026. Overburden removal for the conveyor ramp portal near the mill progressed, supporting the planned commencement of the underground conveyor ramp development in 2027. Construction activities also progressed for key site infrastructure, including the camp expansion and the multi-services building. The camp expansion remains on track for completion in 2027.

Detailed engineering for the paste plant, ore-handling system, underground infrastructure and electrical infrastructure also continued to advance during the quarter, with a focus on supporting the execution of future project development activities.

Exploration drilling at Detour Lake during the third quarter of 2026 totalled 49,389 metres (141,204 metres during the first nine months of 2026). The program continued to expand and infill the mineralization below and to the west of the mineral resource pit. Underground exploration drilling totalling 4,680 metres during the third quarter (6,810 metres year-to-date with the first underground drill rig mobilized in the exploration ramp in March 2026). A second underground drill rig is planned to be added in the fourth quarter of 2026.

Conversion drilling of underground mineralization in the West Pit zone below the current open pit mineral reserve continued to generate positive results, highlighted by hole DLM26-1405 intersecting 8.1 g/t gold over 2.7 metres at 191 metres depth, 8.0 g/t gold over 4.0 metres at 479 metres depth and 11.9 g/t gold over 5.4 metres at 583 metres depth.

The Company continued the high-intensity drilling program targeting Domain 54 in the West Pit zone during the third 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 DLM26-1367 intersecting 18.9 g/t gold over 26.4 metres at 331 metres depth, including 182.7 g/t gold over 2.7 metres at 320 metres depth; and hole DLM26-1362A intersecting 12.0 g/t gold over 6.2 metres at 326 metres depth.

Drilling in the West Extension zone, approximately 1.0 kilometre west of the mineral resource pit outline, continued to extend the underground mineral potential to the west with highlights of hole DLM26-1361 intersecting 22.4 g/t gold over 2.9 metres at 682 metres depth and 2.5 g/t gold over 29.1 metres at 733 metres depth, including 9.0 g/t gold over 3.5 metres at 733 metres depth; and hole DLM26-1342W intersecting 4.3 g/t gold over 9.0 metres at 700 metres depth, 4.5 g/t gold over 4.4 metres at 874 metres depth and 4.8 g/t gold over 7.4 metres at 894 metres depth.

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

[Detour Lake – Composite Longitudinal Section]

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

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 performed well during the quarter, with ramp development advancing to a depth of 210 metres as at September 30, 2026. Ramp development remained ahead of schedule and achieved a fifth consecutive quarterly productivity record.

Shaft sinking reached a depth of 732 metres as at September 30, 2026, surpassing the halfway milestone. The Company expects to reach the 760 level and commence excavation of the 760 level station in the fourth quarter of 2026. Following the completion of the high-intensity drilling program in the second quarter of 2026, the Company continues to evaluate opportunities to expand exploration activities, including extending the shaft to a depth of 1,220 metres and establishing additional drill stations to support infill drilling and potential mineral resource growth in the lower portions of the deposit.

Permitting activities for production continued to progress as planned during the quarter, with submission of the Environmental Impact Statement to the Impact Assessment Agency of Canada expected in the fourth quarter of 2026. The Company expects to provide a project update in 2027.

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

Following the positive investment decision announced in May 2026, the Company continued to advance construction of a new underground mining operation and 6,000 tpd processing facility, which is expected to produce 400,000 to 435,000 ounces of gold annually. The project remains on track for completion in 2029, with first gold production expected in 2030.

Construction activities continued to progress during the quarter. Detailed engineering reached approximately 76% completion as at September 30, 2026, while overall construction progress reached approximately 13%, slightly ahead of plan. The Company also completed the 2026 sealift campaign, delivering approximately 207,000 cubic metres of cargo, 16 million litres of fuel and construction materials using nine cargo vessels, a dedicated wind turbine vessel and a fuel tanker. With all planned materials and equipment received, the project is well-positioned to maintain construction momentum through 2027 ahead of the next sealift season, a key component of the project’s development path.

At Doris, progress was achieved on camp and site infrastructure, including the completion of foundations for two new accommodation wings, kitchen and common-area facilities, and continued advancement of the power plant structure. Construction also progressed on the mill services building and the Roberts Bay fuel farm, where tank foundation works were completed and tank installation activities are underway.

At Madrid, underground development continued with the Naartok East ramp reaching a depth of 139 metres and the Naartok West ramp reaching a depth of 115 metres as at September 30, 2026. At Patch 7, temporary infrastructure to support ramp development, including a laydown area, heated shelter and storage, was completed during the quarter. Approximately 235 metres of development is planned at Patch 7 for 2026.

The Company achieved an important milestone with the execution of a new framework agreement with the Kitikmeot Inuit Association in October 2026, extending the Hope Bay Inuit Impact and Benefit Agreement to 2056 and expanding its coverage across the entire Hope Bay Belt. The water licence amendment process also continued to advance as planned, with the public hearing completed in October 2026 and licence approval expected in the first quarter of 2027.

Conversion and exploration drilling at Hope Bay totalled 14,429 metres during the third quarter (83,816 metres during the first three quarters of 2026), using up to seven surface drill rigs. Drilling primarily targeted the Patch 7 zone at the Madrid deposit and the Boston deposit, located 50 kilometres south of Madrid, where the Company completed its first drilling program since acquiring the Hope Bay project in 2021. Drilling at Patch 7 included 7,617 metres of conversion drilling and 735 metres of expansion drilling during the third quarter. Exploration drilling at Boston, which started in the second quarter of 2026, saw 4,259 metres completed during the third quarter (7,529 metres year-to-date in eight holes).

At Patch 7, the conversion drilling program continued to demonstrate the strong continuity of the high-grade mineralization, which remains open along strike and at depth. Recent highlights included hole HBM26-500A intersecting 37.1 g/t gold over 2.8 metres at 686 metres depth, including 100.0 g/t gold over 0.9 metres at 686 metres depth, in the deeper portion of the zone to the north; and hole HBM26-496 intersecting 8.5 g/t gold over 8.6 metres at 413 metres depth, including 35.2 g/t gold over 1.0 metre at 410 metres depth, in the shallower portion of the zone to the south.

These results are expected to contribute positively to the internal prefeasibility study planned to be completed at year-end 2026 and to the year-end mineral reserve and mineral resource estimate for Hope Bay that is anticipated to include a substantial reclassification of mineral resources to mineral reserves.

At the Boston deposit, drilling into the core of the high-grade B2 zone further improved geological understanding of the zone with highlight hole HBB26-006 intersecting 11.0 g/t gold over 12.3 metres at 298 metres depth within indicated mineral resources.

Drilling into the B3 zone in the southern portion of the Boston deposit was highlighted by hole HBB26-004 intersecting 17.0 g/t gold over 4.5 metres at 308 metres depth and hole HBB26-008 intersecting 6.3 g/t gold over 6.3 metres at 565 metres depth. The results further demonstrate the potential for mineral resource expansion at shallow and moderate depths of the deposit, which remains open laterally and at depth.

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

[Boston Deposit at Hope Bay – Composite Longitudinal Section]

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. During the third quarter of 2026, MDSN continued to advance engineering, critical infrastructure and secondary permitting for power and water infrastructure, as well as other pre-construction authorizations and licenses required under Mexican law before construction or operations can commence. Drilling activities are continuing with a focus on condemnation drilling and geological evaluation in proximity to the projected mine area. These activities continue to strengthen confidence in the project, reducing execution risk, refining capital cost estimates and advancing construction and operational readiness, as MDSN moves toward a potential project approval decision in late 2027 or 2028, subject to the receipt of additional permits and authorizations required.

Third Quarter 2026 Operating Results

Regional operating statistics and highlights for the third 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

Quarterly Gold Production in Line with Adjusted Plan; Barnat Mining Operations Restarted on Schedule; Odyssey Delivers Record Quarterly Tonnes Mined

Regional Highlights

• Gold production in the quarter was in line with the adjusted plan following the adjustment to the mine plan at the Barnat pit in July 2026, with slightly better than expected gold production at LaRonde offset by slightly lower than expected gold production at Odyssey
• At LaRonde, planned underground maintenance and mill shutdowns were completed during the quarter, while gold production reflected lower grades due to a higher proportion of LZ5 ore being processed
• At LZ5, automation initiatives continued to ramp up with automated trucking performance increasing 32% per fully automated shift compared to the second quarter of 2026
• At Odyssey, a record 391,000 tonnes were mined during the quarter. Mining at East Gouldie continued to ramp up, with gold production of 27,250 ounces
• At LaRonde, a five-day shutdown is scheduled in the fourth quarter of 2026 for regular maintenance at the mill. Canadian Malartic has a four-day quarterly shutdown planned in the fourth quarter of 2026 for regular maintenance at the mill. Goldex has a three-day quarterly shutdown planned in the fourth quarter of 2026 for regular maintenance at the mill
• An update on Odyssey and the “fill-the-mill” strategy is set out in the Key Value Drivers – Advancing the Next Phase of Growth section above

Update on Barnat Open Pit at Canadian Malartic

• As previously reported, a localized rock mass movement occurred along the north wall of the Barnat pit on July 1, 2026. Mining activities were temporarily suspended while geotechnical assessments and remediation measures were completed
• Remediation activities were completed during the third quarter of 2026, including the construction of a rock catchment area and safety berm along portions of the north wall, as well as the development of a new access ramp to the redesigned open pit
• Mining operations resumed on September 27, 2026, following the completion of remediation work and the implementation of enhanced monitoring, safety protocols and action response plans
• As reported on July 2, 2026, the event is expected to reduce gold production at Canadian Malartic by 60,000 to 80,000 ounces in the second half of 2026, and by up to 150,000 ounces in each of 2027 and 2028. Feed to the Canadian Malartic processing plant is being supplemented with low-grade ore from existing stockpiles, partially mitigating the production impact. The Company continues to assess opportunities to further mitigate the impact on production and costs

ABITIBI REGION, ONTARIO

Record Mine Performance and Higher Grades Drive Strong Gold Production at Detour Lake as Mine Pours Eight Millionth Ounce; Macassa Delivers Third Consecutive Quarter of Record Mill Throughput

Regional Highlights

• Regional gold production was better than plan for the quarter, supported by strong performance at Detour Lake, where a higher-grade mining sequence and record mine performance drove solid production. At Macassa, record quarterly mill throughput was achieved for the third consecutive quarter, partially offsetting the impact of lower than expected grades from AK
• At Detour Lake, record mining performance continued for the third consecutive quarter, with 32.5 million tonnes of ore and waste extracted from the open pit. Mill performance was affected by a planned seven-day shutdown for regular maintenance and a seven-day unplanned shutdown related to a minor tailings line breach
• The tailings line breach occurred on August 29, 2026 and resulted in the release of a small amount of tailings and process water. The release was quickly contained, with most tailings solids retained within secondary containment, limiting impacts to Easter Creek. Water quality largely returned to pre-incident conditions within 48 hours. The mill was shut down for seven days to replace the affected tailings line and strengthen secondary containment measures
• Trucking of ore from the AK deposit to the LZ5 processing facility at LaRonde for milling continued to ramp up during the third quarter of 2026. The LZ5 mill processed 93,000 tonnes of ore from the AK deposit and produced approximately 10,500 ounces of gold
• Detour Lake has a seven-day planned shutdown for regular mill maintenance in the fourth quarter of 2026. The shutdown of the Line 2 SAG mill will be extended by an additional 13 days to replace the mill gear. During this extended period, both mill lines will remain operational, with the Line 1 SAG mill feeding the Line 1 and Line 2 ball mills, resulting in overall mill throughput of approximately 60% of capacity
• Updates on the Detour Lake underground and Upper Beaver projects are set out in the Key Value Drivers – Advancing the Next Phase of Growth section above

Exploration Highlights at Macassa

• Extension and infill drilling during the third quarter of 2026 totalled 28,891 metres (90,652 metres during the first three quarters of 2026)
• Highlights from the first three quarters of 2026 include positive results from the eastern, down-dip extensions of the Main Break including hole 64-610 intersecting 25.0 g/t gold over 5.2 metres at 2,120 metres depth, hole 64-698 intersecting 23.2 g/t gold over 6.8 metres at 2,135 metres depth and hole 64-781 intersecting 21.0 g/t gold over 1.6 metres at 2,123 metres depth
• In the western portion the deposit near Shaft #3, extension drilling into the Main Break 04 zone was highlighted by hole 57-1730 intersecting 45.4 g/t gold over 1.8 metres at 2,310 metres depth and extension drilling into the SMC West zone was highlighted by hole 57-1699 intersecting 26.6 g/t gold over 1.7 metres at 1,719 metres depth and hole 57-1712 intersecting 19.2 g/t gold over 2.0 metres at 1,809 metres depth
• These results at depth at Macassa continue to demonstrate that the deposit remains open at depth and provide targets for future exploration. Selected recent drill intersections from Macassa are set out in the composite longitudinal section below and in a table in Appendix A

[Macassa – Isometric View and Composite Longitudinal Section]

NUNAVUT

Solid Quarterly Production at Meliadine Supported by Strong Open Pit Mining Performance; Gold Grades at Meadowbank Expected to Increase in the Fourth Quarter of 2026

Regional Highlights

• Gold production in the quarter was lower than plan, primarily due to lower-than-anticipated grades and ore tonnes mined at Meadowbank, while production at Meliadine was in line with plan. Regional gold production for the full year 2026 remains on track to be within the guidance range
• At Meliadine, mill throughput remained above plan, supported by strong open pit performance, where increased ore haulage offset lower-than-planned underground production. Underground development and production were temporarily affected as resources were prioritized toward the installation of additional ground support at key intersections. Underground mining activities are expected to ramp up to planned levels in the fourth quarter of 2026
• At Meadowbank, gold grades were below plan primarily due to lower ore tonnes mined from the IVR pit from negative ore-tonnage reconciliation, as well as reduced ore production from the underground operation due to lower mechanical availability. Gold grades improved in September and are expected to increase further in the fourth quarter of 2026, in line with the planned mining sequence
• Meadowbank has a five-day planned shutdown in the fourth quarter of 2026 to replace the SAG and ball mill liners and complete other regular mill maintenance
• An update on Hope Bay is set out in the Key Value Drivers – Advancing the Next Phase of Growth section above

Exploration Highlights at Meliadine

• Exploration ramp development continued to enhance deep exploration access during the first three quarters of 2026, with 241 metres completed at Tiriganiaq and 47 metres completed at the Wesmeg-Pump exploration drift. Exploration drilling during the third quarter of 2026 totalled 21,500 metres (77,500 metres year-to-date) with results from a larger step-out drill program showing positive intersections at depth and laterally
• Drilling into the Tiriganiaq deposit during the first three quarters of 2026 continued to confirm the continuity of mineralization and expansion potential at depth and laterally. Highlights included hole ML425-10071-D14 intersecting 17.9 g/t gold over 3.4 metres at 892 metres depth, including 121.0 g/t gold over 0.5 metres at 892 metres depth, approximately 200 metres below current mineral resources; and hole ML425-8846-D15 intersecting 10.9 g/t gold over 6.6 metres at 694 metres depth at the lower limit of mineral resources to the west
• Drilling at the Wesmeg North deposit was highlighted by hole ML425-9950-D8 intersecting 4.1 g/t gold over 13.6 metres at 1,014 metres depth in the deepest intercept of the deposit to date and approximately 300 metres below current mineral resources. At similar depths in the Wesmeg deposit, hole ML425-10171-D10 intersected 24.3 g/t gold over 3.0 metres at 805 metres depth and 10.8 g/t gold over 3.3 metres at 1,035 metres depth, including 20.8 g/t gold over 1.7 metres at 1,035 metres depth. Further west in Wesmeg, hole ML425-9085-D28 intersected 10.5 g/t over 4.8 metres at 817 metres depth, including 78.9 g/t over 0.5 metres at 818 metres depth, approximately 100 metres below current mineral resources. The results further demonstrate the depth potential of mineralization at Wesmeg North and Wesmeg
• Selected recent drill intersections from the Tiriganiaq, Wesmeg North and Wesmeg deposits are set out in the composite longitudinal section below and in Appendix A

[Meliadine – Plan Map and Composite Longitudinal Section]

AUSTRALIA

Strong Quarterly Gold Production Driven by Higher Grades and Solid Operational Performance

Highlights

• Gold production in the quarter was higher than plan driven by higher gold grades primarily as a result of positive grade reconciliation at Robbins Hill as well as higher mill recovery
• During the quarter, the mine continued to ramp up underground development across additional mining areas, setting a monthly development record of 1,154 metres in August
• At the processing plant, ongoing work to upgrade the grinding circuit and related ancillary equipment continued during the quarter, including tie-in work related to the installation of a new BIOX (bacterial oxidation reactor) tank. The mill upgrades are expected to achieve the targeted 3,300 tpd throughput starting in 2028
• Fosterville has scheduled a five-day shutdown for regular mill maintenance in the fourth quarter of 2026

FINLAND

Significant Improvement in Mill Recoveries Supports Strong Gold Production; Exploration Drilling At Helmi, Along the Ikkari Trend, Yields Positive Results

Highlights – Kittila

• Gold production was better than plan in the quarter, driven by strong mill recoveries of approximately 85%. The Company continues to achieve improved recoveries as it advances several recovery improvement initiatives, including the optimization of reagent usage based on feed blend
• Kittila has scheduled a 17-day shutdown for regular maintenance on the mill and autoclave relining in the fourth quarter of 2026

Highlights – Ikkari Project and Contingent Value Rights

• As at October 28, 2026, the Company had 207,654,166 contingent value rights (“CVRs”) outstanding. The Company’s obligation to make payments under the CVRs is conditional on the satisfaction of certain payment conditions prior to the expiry of the CVRs, as described in the contingent value rights agreement dated June 16, 2026 between the Company and Computershare Trust Company of Canada, a copy of which is available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The applicable conditions relate to mineral reserves and production on the Ikkari project properties acquired by the Company on the closing of the acquisition of Rupert Resources Ltd. on June 16, 2026
• Exploration drilling by the Company at the newly acquired Ikkari project commenced in the third quarter with three drill rigs in operation completing 12,332 metres during the third quarter. The number of rigs is expected to increase to five in the fourth quarter with improved access to wet land during winter freezing conditions. The exploration program during the second half of 2026 comprises condemnation and exploration drilling at the Ikkari deposit and at the Helmi deposit located one-kilometre west of Ikkari
• Initial results from Helmi were highlighted by hole IKK26-124 intersecting 3.2 g/t gold over 10.7 metres at 476 metres depth, including 7.6 g/t gold over 4.1 metres at 474 metres depth and 30.0 g/t gold over 0.8 metres at 473 metres depth; and hole IKK26-136 intersecting 0.9 g/t gold over 20.0 metres at 496 metres depth
• Technical review and validation work is progressing to support future mine planning and the completion of an internal evaluation for the optimized mine design is targeted by the end of 2027

[Ikkari – Plan Map and Composite Longitudinal Section]

MEXICO

Strong Mill Throughput Drives Gold Production at Pinos Altos

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.

Further Information

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

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”, “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 is calculated by adjusting production costs as recorded in the Third 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 (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 Third 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 nine months ended September 30, 2026 and September 30, 2025, as presented in the Third Quarter Financial Statements in accordance with IFRS Accounting Standards.

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

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 respect 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 nine months ended September 30, 2026 and September 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).

Adjusted net income

Adjusted net income and adjusted net income per share are calculated by adjusting the net income as recorded in the Third 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 nine months ended September 30, 2026, and September 30, 2025.

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 Third 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 nine months ended September 30, 2026 and September 30, 2025.

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 Third 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 Third 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 nine months ended September 30, 2026 and September 30, 2025.

Capital expenditures

Capital expenditures are calculated by deducting working capital adjustments from additions to property, plant and mine development per the Third 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 Third Quarter Financial Statements for the three and nine months ended September 30, 2026 and September 30, 2025.

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 Third 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 Third Quarter Financial Statements to net cash as at September 30, 2026, and December 31, 2025.

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 October 28, 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 various projects at such sites 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; 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, the expected conversion of mineral resources to mineral reserves, 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; plans with respect to offering securities pursuant to the base shelf prospectus; future dividend amounts, record dates and payment dates, including the Company’s anticipated return of more than 50% of free cash flow to shareholders through dividends and share repurchases in 2026; plans with respect to activity under the NCIB; 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; 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, or other parameters, will be realized.

The basis for the internal evaluations and the qualifications and assumptions made by the qualified persons who undertook the internal evaluations are set out in this news release and the news releases dated June 29, 2024 for Detour Lake underground, 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 deposit, Eclipse zone and Odyssey deposit at Odyssey mine

West Pit and West Extension zones at Detour Lake

Madrid and Boston deposits at Hope Bay

Amalgamated Kirkland, SMC and Main Break zones at Macassa

Tiriganiaq, Wesmeg North and Wesmeg deposits at Meliadine

Helmi deposit at Ikkari

Exploration Drill Collar Coordinates

APPENDIX B – FINANCIAL INFORMATION

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SOURCE Agnico Eagle Mines Limited