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 â 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 â 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 â 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 â 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 â 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 â 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 â 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 â 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 â 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 â 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.