Agnico Eagle Reports Fourth Quarter and Full Year 2025 Results – Record Quarterly and Annual Free Cash Flow; 2025 Production Guidance Achieved; Total 2025 Shareholder Returns of $1.4 Billion; Dividend Increased by 12.5%; Updated Three-Year Guidance

Press Release

TORONTO, Feb. 12, 2026 – Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico Eagle” or the “Company”) today reported financial and operating results for the fourth quarter and full year 2025, as well as future operating guidance.

“In 2025, we delivered on our commitments, generating record free cash flow and shareholder returns. We’ve also updated our three‑year outlook which reflects stable production at peer‑leading costs,” said Ammar Al-Joundi, Agnico Eagle’s President and Chief Executive Officer. “Agnico Eagle has never been better positioned, with the strongest balance sheet in our history, an exploration program that is creating tremendous value and a pipeline of organic projects that will drive strong production growth over the next decade. What excites me most is the depth and quality of our growth pipeline, which has the potential to increase annual gold production by 20% to 30% over the next decade, exceeding four million ounces by the early 2030s. These expansion and growth projects offer exceptional returns at current gold prices, and we are assessing opportunities to advance them more quickly. As we build our project pipeline and sustain our exploration momentum, we are well positioned to drive our next phase of growth.”

Fourth quarter and full year 2025 highlights and the Company’s short to medium‑term outlook are set out below.

1) Record 2025 Financial Results Driven by Strong Operations, Resulting in a Strengthened Balance Sheet and Record Shareholder Returns

• Annual production guidance achieved with solid cost performance despite higher royalties from higher gold prices – Payable gold production¹ in 2025 was 3,447,367 ounces, above the midpoint of the 2025 guidance range, at production costs per ounce of $965. Total cash costs per ounce² of $979 and all-in sustaining costs (“AISC”) per ounce² of $1,339 were slightly above the top end of 2025 guidance, primarily due to higher royalty costs (approximately $42 per ounce) driven by an average realized gold price of $3,453 per ounce, well above the Company’s assumption of $2,500. Under the Company’s revised composition of total cash costs per ounce and AISC per ounce, these measures were $953 and $1,313, respectively, in 2025²
• Record annual free cash flow driven by consistent and reliable operational performance – Cash provided by operating activities for the full year 2025 was a record of $6,817 million or $13.58 per share and free cash flow³ was a record of $4,399 million or $8.76 per share. The Company’s continued focus on operational efficiencies resulted in several annual throughput and mining rate records during the year
• Solid quarterly performance, with record quarterly adjusted net income and free cash flow generation – Payable gold production in the fourth quarter of 2025 was 840,608 ounces at production costs per ounce of $1,113, total cash costs per ounce of $1,089 and AISC per ounce of $1,517. The higher realized gold price of $4,163 per ounce in the fourth quarter resulted in strong margins and cash flows, while increasing royalty costs. The Company reported quarterly net income of $1,523 million or $3.04 per share and record adjusted net income³ of $1,351 million or $2.70 per share. The Company generated cash provided by operating activities of $2,112 million or $4.22 per share and record free cash flow of $1,310 million or $2.62 per share
• Financial position further strengthened through increased cash balances, providing a solid foundation for the next phase of growth – The Company increased its net cash³ position to $2,670 million as at December 31, 2025 as a result of the increase in its cash balance by $511 million to $2,866 million during the quarter and total debt outstanding as at December 31, 2025 of $196 million
• Record shareholder returns of $1.4 billion in 2025 through dividend and share repurchase programs
  • Under its normal course issuer bid (“NCIB”), the Company repurchased 1,784,038 common shares at an average share price of $168.11 for aggregate purchases of $300 million during the quarter, and 4,114,150 common shares at an average share price of $145.76 for aggregate purchases of $600 million in 2025
  • Quarterly dividend of $0.40 per share paid in the quarter, with total dividend payments of $803 million paid in 2025
• Quarterly dividend increased by 12.5% and expected renewal of NCIB – A quarterly dividend of $0.45 per share has been declared, reflecting the strength of the business and higher gold price environment. Additionally, at current gold prices, the Company expects to remain active on its share repurchase program. The Company intends to seek approval from the TSX to renew the NCIB for another year in May 2026 on substantially the same terms; but intends to increase its internal limit on purchases under the NCIB to $2 billion of common shares. Additional details will be provided at the time of the renewal

Read More

IBF4