Agnico Eagle Announces Renewal of Normal Course Issuer Bid

Press Release

TORONTO, May 1, 2025 – Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico Eagle”) announced today that further to its news release dated April 24, 2025, it has received approval from the Toronto Stock Exchange (the “TSX”) of Agnico Eagle’s notice of intention to renew its normal course issuer bid (the “NCIB”).

Under the NCIB, Agnico Eagle may purchase for cancellation, on the open market at its discretion, during the period commencing on May 4, 2025 and ending on the earlier of May 3, 2026 and the completion of purchases under the NCIB, up to the lesser of: (i) 25,174,240 common shares of Agnico Eagle (“Common Shares”), which is 5% of the issued and outstanding Common Shares; and (ii) that number of Common Shares that can be purchased by Agnico Eagle under the NCIB for an aggregate purchase price, excluding commissions, of not more than $1,000,000,000, subject to the normal terms and limitations of such bids. Based on the closing share price of $119.02 on April 28, 2025, 8,401,949 Common Shares would be purchasable under the NCIB, representing approximately 1.67% of the issued and outstanding Common Shares as of April 28, 2025. As of April 28, 2025, Agnico Eagle had 503,484,810 issued and outstanding Common Shares.

Daily purchases on the TSX under the NCIB will be limited to 248,879 Common Shares, other than purchases made pursuant to the block purchase exception, which represents 25% of the average daily trading volume of 995,517 on the TSX for six months ending March 31, 2025. The actual number of Common Shares which may be purchased under the NCIB and the timing of any such purchases will be determined by the management of Agnico Eagle, subject to applicable law and the rules of the TSX. Purchases under the NCIB are expected to be made through the facilities of the TSX, the New York Stock Exchange and alternative trading systems in Canada or the United States, at prevailing market prices. The NCIB will be funded using Agnico Eagle’s existing cash resources, and any Common Shares repurchased by Agnico Eagle under the NCIB will be cancelled.

Agnico Eagle believes that its NCIB is a flexible and complementary tool that, together with its quarterly dividend, is part of Agnico Eagle’s overall capital allocation program and generates value for shareholders. Decisions regarding any future repurchases will depend on certain factors, including market conditions and share price. Agnico Eagle may elect to suspend or discontinue share repurchases at any time, in accordance with applicable laws.

Agnico Eagle has established an automatic share purchase plan in connection with its NCIB to facilitate the purchase of Common Shares during times when Agnico Eagle would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions or self-imposed black-out periods. Before entering a black-out period, Agnico Eagle may, but is not required to, instruct the broker to make purchases under the NCIB based on parameters set by Agnico Eagle in accordance with the share purchase plan, TSX rules and applicable securities laws. The plan has been pre-cleared by the TSX and will be effective May 7, 2025.

Under Agnico Eagle’s prior NCIB, which commenced on May 4, 2024 and ends on May 3, 2025, Agnico Eagle obtained approval to purchase up to a total of 24,961,914 Common Shares, of which 1,862,133 Common Shares were purchased through the facilities of the TSX and the New York Stock Exchange at a weighted-average price of approximately $80.5585 (excluding commissions) per Common Share.

About Agnico Eagle

Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico, with 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.

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