# AEM News Release Q1 2026 FINAL Source Brief: https://evesgoldminers.com/research/source-briefs/agnico-eagle-mines-ltd-2026-04-30-aem-news-release-q1-2026-final-c31d9c4d Original source: https://s205.q4cdn.com/243646470/files/doc_news/2026/_AEM-News-Release-Q1-2026-FINAL.pdf Original published: 2026-04-30 EGM generated: 2026-09-04 Company: Agnico Eagle Mines Limited (AEM) ## Use Note This is the Eve's Gold Miners normalized Markdown copy of an official or regulatory public source. It is provided for readability, search discovery, and research resilience. The original source remains authoritative for legal, regulatory, and investment decisions. ## Extracted Document Text # AEM News Release Q1 2026 FINAL Source: https://s205.q4cdn.com/243646470/files/doc_news/2026/_AEM-News-Release-Q1-2026-FINAL.pdf Published: 2026-04-30T00:00:00+00:00 Fetched: 2026-05-29T13:26:12.189+00:00 Source artifact: c31d9c4d-dcd4-4ffb-a5e3-41c9ef4213b3 Normalizer input: text ## Content # AEM News Release Q1 2026 FINAL Stock Symbol: AEM (NYSE and TSX) For further information: Investor Relations (416) 947-1212 (All amounts expressed in U.S. dollars unless otherwise noted) AGNICO EAGLE REPORTS FIRST QUARTER 2026 RESULTS, INCLUDING RECORD QUARTERLY OPERATING MARGINS AND ADJUSTED NET INCOME Toronto (April 30, 2026) – Agnico Eagle Mines Limited (NYSE and TSX: AEM) ("Agnico Eagle" or the "Company") today reported financial and operating results for the first quarter of 2026. "We delivered a solid start to 2026, achieving record operating margins while production and costs tracked well to plan. With gold production expected to be weighted to a stronger second half of the year, we are managing cost volatility through disciplined execution and asset optimization, supported by our regional operating model. This positions us well to deliver on our full year guidance," said Ammar Al-Joundi, Agnico Eagle's President and Chief Executive Officer. "We are excited by the strong progress across our industry leading growth pipeline and are beginning to look beyond the 20–30% production growth already expected over the next decade, with our recently announced proposed acquisitions in Finland marking a milestone in our next phase of long-term growth. At the same time, we remain committed to returning value to shareholders, through our dividend and the expansion of our share repurchase program." First quarter 2026 highlights: • Solid quarterly performance, in line with plan – Payable gold production1 was 825,109 ounces, representing approximately 24% of the mid-point of the full year production guidance, at production costs per ounce of $1,158, total cash costs per ounce2 of $1,093 and all-in sustaining costs ("AISC") per ounce2 of $1,483. The solid operating performance was led by Detour Lake, Canadian Malartic and Fosterville • Record quarterly operating margins and adjusted net income – Solid production, combined with higher realized gold prices of $4,861 per ounce in the first quarter, resulted in record operating margins and adjusted net income. The Company reported quarterly net income of $1,695 million or $3.39 per share and record adjusted net income3 of $1,706 million or $3.41 per share. The Company generated cash provided by operating activities of $1,346 million or $2.69 per share and free cash flow3 of $732 million or $1.46 per share, which included the impact of a $1.3 billion payment for the remaining cash tax liability related to the 2025 taxation year. Total cash taxes paid in the first quarter were $1.8 billion, approximately 50% of the expected cash taxes for 2026 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. 2 Total cash costs per ounce and all-in sustaining costs per ounce (or AISC per ounce) are non-GAAP measures 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 reconciliations of each of these non-GAAP measures to production costs on both a by-product and a co-product basis and a description of their composition and usefulness, see "Note Regarding Certain Measures of Performance" below. 3 Adjusted net income, free cash flow and where applicable, their related per share measures 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 the most comparable measure prepared in accordance with IFRS Accounting Standards, see "Note Regarding Certain Measures of Performance" below. • Financial strength continues to grow through robust cash generation – The Company increased its cash balance by $246 million to $3,112 million as at March 31, 2026, resulting in a net cash4 position of $2,915 million with total debt outstanding of $197 million as at March 31, 2026. Reflecting this strong financial profile, Fitch Ratings upgraded the Company's long-term issuer default rating from BBB+ to A- in April 2026 • Annual gold production and cost guidance reiterated – Full year expected payable gold production in 2026 remains unchanged at 3.3 to 3.5 million ounces, with production now weighted approximately 48% to the first half of the year and 52% to the second half. Full year total cash costs per ounce and AISC per ounce in 2026 remain unchanged at $1,020 to $1,120 and $1,400 to $1,550, respectively. While the Company is subject to cost uncertainty, including fuel price volatility as a result of ongoing geopolitical events, the Company's regional operating strategy, focused on local procurement and resilient supply chains, is expected to mitigate potential cost impacts. Further details are set out in the 2026 Guidance Summary section below • Continued commitment to shareholder returns and expected renewal and increase of NCIB – The Company returned a total of $375 million to shareholders during the first quarter of 2026, including the declaration of a quarterly dividend of $0.45 per share and the repurchase of 721,211 common shares under its normal course issuer bid ("NCIB"). Share repurchases were completed at an average price of $207.68 per share for total consideration of $150 million. As previously disclosed, the Company intends to seek approval from the TSX to renew the NCIB for another year on substantially the same terms, with an increase to its internal limit on purchases of common shares to $2 billion. Additional details will be provided at the time of the renewal • 2025 Sustainability Report published – The Company released its 17th annual Sustainability Report on April 30, 2026, demonstrating its commitment to operating in a safe, sustainable and environmentally responsible manner • Update on key value drivers and pipeline projects in the first quarter of 2026 ◦ Canadian Malartic – Production from the East Gouldie ramp commenced in March 2026. The development and construction activities continued to progress on schedule, with the main ramp and shaft #1 reaching a depth of 1,151 metres and 1,514 metres, respectively. Construction of the first loading station is on schedule for first production through shaft #1 in the second quarter of 2027. Exploration drilling continued to yield positive results in multiple areas of the Odyssey mine, including 6.7 grams per tonne ("g/t") gold over 36.0 metres at 1,089 metres depth in the upper eastern portion of the East Gouldie deposit and 9.0 g/t gold over 53.5 metres (core length) at 1,067 metres depth in the internal zones of the Odyssey deposit ◦ Detour Lake – Development activities for the underground project continued, with the exploration ramp reaching a depth of 147 metres and overburden removal commencing for the conveyor-ramp portal. High-intensity drilling from surface near the exploration ramp was initiated, with a highlight intercept of 8.9 g/t gold over 14.1 metres at 187 metres depth. Drilling into the West Extension zone had highlights of 10.7 g/t gold over 10.1 metres at 497 metres depth, approximately 1.5 kilometres west of the resource-pit outline, and 10.0 g/t gold over 3.1 metres at 922 metres depth, approximately 2.5 kilometres west of the resource-pit outline ◦ Upper Beaver – Development of the exploration ramp and shaft continued to advance ahead of schedule, reaching depths of 108 metres and 382 metres, respectively. During the quarter, the Company initiated a high-intensity drilling program targeting a portion of the Upper Beaver deposit between approximately 500 and 600 metres depth, characterized by intrusion-suite host rocks, to complement the bulk sample planned at the 760 level 4 Net cash is a non-GAAP measure that is not a standardized financial measure under IFRS Accounting Standards. For a description of the composition and usefulness of this non-GAAP measure and a reconciliation to the most comparable measure prepared in accordance with IFRS Accounting Standards, see "Note Regarding Certain Measures of Performance" below. 2 ◦ Hope Bay – Project activities focused on site preparedness for a potential redevelopment, including the addition of a new third wing to the camp, substantial completion of the internal technical evaluation, including advancement of detailed engineering to approximately 55%, and planning for the 2026 sealift season. A construction decision at Hope Bay is expected in May 2026 ◦ San Nicolás – Minas de San Nicolás, which has the potential for base metal production in Mexico, continued to advance engineering and execution strategy, targeting completion of 50% of the engineering by mid-year 2026. Drilling activities progressed with a focus on condemnation drilling and geological evaluation in proximity to the projected mine area • Proposed consolidation of Finland's Central Lapland Greenstone Belt ("CLGB") in three separate transactions – On April 20, 2026, the Company announced a comprehensive consolidation of properties in the CLGB of Northern Finland through the proposed acquisitions of Rupert Resources Ltd. ("Rupert") and Aurion Resources Ltd. ("Aurion") and the acquisition of the 70% interest in Fingold Ventures Ltd. held by B2Gold Corp ("B2Gold"). The Company expects the Rupert and Aurion transactions to be completed late in the second quarter of 2026. The transaction with B2Gold was completed in April 2026 ◦ Through these transactions, the Company expects to build another multi-asset, multi- decade regional platform within its portfolio, create significant value at the Ikkari gold project by leveraging over 20 years of regional experience and unlock multi-layered exploration potential across the consolidated 2,492 km2 land package ◦ It establishes a pathway to transform its Finland platform into an approximately 500,000-ounce-per-year gold production hub within the next decade, and contribute beyond the 20-30% Company-wide production growth over that period ◦ The Company will evaluate opportunities to reduce dilution associated with the Rupert transaction, including potentially returning the proceeds of portfolio investment sales to shareholders through share repurchases under the NCIB First Quarter 2026 Results Conference Call and Webcast Tomorrow The Company's senior management will host a conference call on Friday, May 1, 2026, at 8:30 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 72715#. The conference call replay will expire on June 1, 2026. The webcast, along with presentation slides, will be archived for 180 days on the Company's website. 3 Annual Meeting The Company will host its Annual and Special Meeting of Shareholders (the "AGM") on Friday, May 1, 2026 at 11:00 AM (E.D.T). During the AGM, management will provide an overview of the Company' [Excerpt trimmed for readability. Open the original source for the complete filing or document.]