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

AGNICO EAGLE REPORTS THIRD QUARTER 2025 RESULTS – RECORD ADJUSTED NET INCOME

WITH ANOTHER QUARTER OF STRONG PRODUCTION; FINANCIAL POSITION FURTHER

STRENGTHENED BY REPAYMENT OF LONG-TERM DEBT AND CASH ACCUMULATION

Toronto (October 29, 2025) – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle" or the "Company") today reported financial and operating results for the third quarter of 2025.

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

Third quarter 2025 highlights:

¹ Payable production of a mineral means the quantity of a mineral produced during a period contained in products that have been or will be sold by the Company whether such products are shipped during the period or held as inventory at the end of the period. Payable gold production for the three months ended September 30, 2025 excludes payable gold production at La India and Creston Mascota of 945 and 189 ounces, respectively, which were produced from residual leaching and 2,442 ounces of gold recovered at Hope Bay.

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

³ Adjusted net income and adjusted net income per share are non-GAAP measures or ratios that are not standardized financial measures under IFRS Accounting Standards. For a description of the composition and usefulness of these non-GAAP measures and a reconciliation to net income see "Note Regarding Certain Measures of Performance" below.

⁴ Cash provided by operating activities before changes in non-cash components of working capital, free cash flow and free cash flow before changes in non-cash components of working capital and their related per share measures are non-GAAP measures or ratios that are not standardized financial measures under IFRS Accounting Standards. For a description of the composition and usefulness of these non-GAAP measures and a reconciliation to cash provided by operating activities see "Note Regarding Certain Measures of Performance" below.

⁵ Net cash (debt), that is, a negative "net debt" position, and net debt are non-GAAP measures that are not standardized financial measures under IFRS Accounting Standards. For a description of the composition and usefulness of these non-GAAP measures and a reconciliation to long-term debt, see "Note Regarding Certain Measures of Performance" below.

Third Quarter 2025 Results Conference Call and Webcast Tomorrow

The Company's senior management will host a conference call on Thursday, October 30, 2025, at 11:00 AM (E.D.T.) to discuss the Company's financial and operating results.

Via Webcast:

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

Via Phone:

To join the conference call by phone, please dial 416.945.7677 or toll-free 1.888.699.1199 to be entered into the call by an operator. To ensure your participation, please call approximately five minutes prior to the scheduled start of the call.

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

Replay Archive:

Please dial 289.819.1450 or toll-free 1.888.660.6345, access code 44229#. The conference call replay will expire on November 30, 2025.

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

Gold Production

Production Costs per Ounce

Total Cash Costs per Ounce

AISC per Ounce

Refer to the Company's Management Discussion and Analysis for the third quarter of 2025 (the "MD&A") under the caption "Financial and Operating Results" for additional variance analysis on gold production, production costs, minesite costs per tonne and total cash costs per ounce compared to the prior-year periods.

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

⁷ "EBITDA" means earnings before interest, taxes, depreciation, and amortization. EBITDA and adjusted EBITDA are non-GAAP measures that are not standardized financial measures under IFRS Accounting Standards. For a description of the composition and usefulness of these non-GAAP measures and a reconciliation to net income see "Note Regarding Certain Measures of Performance" below.

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

Net Income

Adjusted EBITDA

Cash Provided by Operating Activities

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

Capital Expenditures

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

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

2025 Guidance Reiterated

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

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

Tariffs

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

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

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

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

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

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

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

Hedges

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

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

The Company will continue to monitor market conditions and anticipates continuing to opportunistically add to its operating currency and diesel hedges to strategically support its key input costs for the balance of 2025. Current hedging positions are not factored into 2025 or future guidance.

Shareholder Returns

Dividend Record and Payment Dates for the Fourth Quarter of 2025

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

Dividend Reinvestment Plan

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

International Dividend Currency Exchange

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

Normal Course Issuer Bid

The Company believes that its NCIB is a flexible and complementary tool that, together with the quarterly dividend, is part of the Company's overall capital allocation program and generates value for shareholders. Under the NCIB, the Company is authorized to purchase up to $1 billion of its common shares, subject to a maximum of 5% of the issued and outstanding common shares. Purchases under the NCIB may continue for up to one year from its commencement on May 4, 2025. In the third quarter of 2025, the Company repurchased 1,005,577 common shares under the NCIB at an average share price of $149.02 for aggregate consideration of $150 million. In the first nine months of 2025, the Company repurchased 2,330,112 common shares under the NCIB at an average share price of $128.66 for aggregate consideration of $300 million.

Update on Key Value Drivers and Pipeline Projects

Canadian Malartic

The Company continues to advance the transition to underground mining with the construction of the Odyssey mine and is working on several opportunities with the goal to potentially grow annual production at Canadian Malartic to one million ounces per year in the 2030s. These opportunities include the potential for (i) a second shaft at Odyssey, (ii) the development of a satellite open pit at Marban and (iii) the development of the Wasamac underground project. Marban and Wasamac are located approximately 12 kilometres and 100 kilometres from the Canadian Malartic mill, respectively.

Odyssey

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

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

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

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

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

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

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

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

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

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

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

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

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

[Odyssey – Composite Cross and Longitudinal Sections]

Marban

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

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

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

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

[Marban – Composite Longitudinal Section]

Detour Lake

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

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

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

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

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

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

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

[Detour Lake – Composite Longitudinal Section]

Upper Beaver

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

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

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

Hope Bay

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

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

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

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

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

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

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

[Madrid Deposit at Hope Bay – Composite Longitudinal Section]

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

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

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

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

Third Quarter 2025 Sustainability Highlights

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

Reorganization of Non-Core Investments in Critical Minerals

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

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

The Company expects to contribute its portfolio of non-gold and non-copper strategic investments, which have a current aggregate market value of approximately $80 million, as well as $50 million in cash as funding for Avenir. While the Company is not committed to additional funding of Avenir, it will retain a right of first refusal on future investment opportunities and may contribute additional capital in the future. Avenir is expected to become an independent and self-sustaining entity with a mandate to pursue strategic partnerships and government support to help fund and advance future opportunities.

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

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

Regional Highlights

⁹ Minesite costs per tonne is a non-GAAP measure that is not standardized under IFRS Accounting Standards and is reported on a per tonne of ore milled basis. For a description of the composition and usefulness of this non-GAAP measure and a reconciliation to production costs see "Note Regarding Certain Measures of Performance" below.

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

Regional Highlights

NUNAVUT

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

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

Regional Highlights

Exploration Highlights at Amaruq

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

[Amaruq – Composite Longitudinal Section]

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

Highlights

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

Highlights

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

About Agnico Eagle

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world. It produces precious metals from operations in Canada, Australia, Finland and Mexico and has a pipeline of high-quality exploration and development projects. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

About this News Release

Unless otherwise stated, references to "Canadian Malartic", "Goldex", "LaRonde" and "Meadowbank" are to the Company's operations at the Canadian Malartic complex, the Goldex complex, the LaRonde complex and the Meadowbank complex, respectively. The Canadian Malartic complex consists of the mining, milling and processing operations at the Canadian Malartic mine and the mining operations at the Odyssey mine. The Goldex complex consists of the mining, milling and processing operations at the Goldex mine and the mining operations at the Akasaba West open pit mine. The LaRonde complex consists of the mining, milling and processing operations at the LaRonde mine and the mining operations at the LaRonde Zone 5 mine. The Meadowbank complex consists of the milling and processing operations at the Meadowbank mine and the mining operations at the Amaruq open pit and underground mines. References to other operations are to the relevant mines, projects or properties, as applicable.

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

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

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

Total cash costs per ounce and minesite costs per tonne

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

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

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

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

Minesite costs per tonne are calculated by adjusting production costs as recorded in the condensed interim consolidated statements of income for inventory production costs and other adjustments, and then dividing by tonnage of ore processed. As the total cash costs per ounce can be affected by fluctuations in by–product metal prices and foreign exchange rates, management believes that minesite costs per tonne is useful to investors in providing additional information regarding the performance of mining operations, eliminating the impact of varying production levels. Management also uses this measure to determine the economic viability of mining blocks. As each mining block is evaluated based on the net realizable value of each tonne mined, in order to be economically viable the estimated revenue on a per tonne basis must be in excess of the minesite costs per tonne. Management is aware, and investors should note, that this per tonne measure of performance can be affected by fluctuations in processing levels. This inherent limitation may be partially mitigated by using this measure in conjunction with production costs and other data prepared in accordance with IFRS Accounting Standards.

The following table sets out the production costs per minesite for the three and nine months ended September 30, 2025 and September 30, 2024, as presented in the condensed interim consolidated statements of income in accordance with IFRS Accounting Standards.

The following tables set out a reconciliation of total cash costs per ounce (on both a by-product basis and co-product basis) and minesite costs per tonne to production costs for the three and nine months ended September 30, 2025 and September 30, 2024, exclusive of amortization, as presented in the condensed interim consolidated statements of income in accordance with IFRS Accounting Standards.

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