Proposed Acquisition of TMAC Resources Inc.

January 5, 2021

Forward Looking Statements

The information in this presentation has been prepared as at January 5, 2021. Certain statements contained in this presentation constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws and are referred to herein as "forward-looking statements". When used in this presentation, the words "anticipate", "could", "estimate", "expect", "forecast", "future", "plan", "possible", "potential", "will" and similar expressions are intended to identify forward-looking statements. Such statements include, without limitation: statements relating to the outcome of the transaction between Agnico Eagle and TMAC Resources Inc. (the "Transaction"); statements relating to the ability of Agnico Eagle and TMAC to complete the Transaction on the terms described herein, or at all; statements regarding receipt of the necessary Ontario court approval and Competition Act (Canada) approval with respect to the Transaction; statements regarding the Company's plans with respect to operations, optimization and exploration activities at Hope Bay; and statements regarding future mineral reserves and mineral resources and the potential thereof. Such statements reflect the Company's views as at the date of this presentation and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause the actual results to be materially different from those expressed or implied by such forward looking statements. Other than as required by law, the Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Further Information

For further details on Agnico Eagle's third quarter 2020 results, please see the Company's news release dated October 28, 2020.

Front Cover

Hope Bay Mine located in Nunavut, Canada, taken in 2020. Provided by TMAC Resources Inc.

Acquisition of TMAC Resources Inc. 2

Acquisition Consistent with Agnico's Strategy

  • Hope Bay is a combination of:
    • Significant Mineral Reserve and Mineral Resource base
    • Substantial historical investment with support infrastructure in place
    • Existing mining operations with strong future production and mineral reserve expansion potential
  • Able to leverage Agnico Eagle's operational and exploration expertise in Nunavut
    • Built 3 mines over 10 years in the region
    • Relationships with governments, permitting, community and suppliers
  • Strengthens project pipeline with strong potential to materially improve operations
    • Measured and indicated mineral resources of 5.2Moz at gold grade of 7.4g/t1,2
    • Inferred mineral resources of 2.1Moz at gold grade of 6.1g/t1
    • Mineral reserve of 3.5Moz at gold grade of 6.5g/t1
  • Provides considerable exploration upside in Nunavut from an 80km greenstone belt with similar scale and scope to Meliadine

1.

See Mineral Reserves and Mineral Resource slides in Appendix of this presentation

Acquisition of TMAC Resources Inc.

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2.

Mineral Resources inclusive of Mineral Reserves

Transaction Overview

Transaction

Structure

Purchase Price

Debt

Financing

Other Terms and Conditions

Closing

  • Assignment of the Shandong Gold Mining Co. Ltd. transaction announced on May 8, 2020
  • Will be completed by Plan of Arrangement
  • Shareholders will receive C$2.20 in cash for each TMAC share held
  • Transaction values TMAC at a fully diluted equity value of ~C$286.6M
  • Agnico Eagle will retire TMAC's outstanding debt and deferred interest and fees payable
  • TMAC had C$71.5 million of cash on hand, as of September 30, 2020
  • Cash on hand and available liquidity
  • Resource Capital Funds, Newmont Corporation, Shandong and all directors and officers of TMAC have entered into agreements to support the Transaction
  • Ontario court approvals
  • Competition Act (Canada) approval
  • Expected by February 8, 2021

Acquisition of TMAC Resources Inc. 4

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Agnico-Eagle Mines Limited published this content on 05 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 January 2021 11:07:08 UTC