AGNICO EAGLE REPORTS WALL MOVEMENT AT BARNAT OPEN PIT AT CANADIAN MALARTIC

Stock Symbol: AEM (NYSE and TSX) TORONTO , July 2, 2026 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM ) (TSX: AEM) ("Agnico Eagle" or the "Company") reports that a rock mass movement occurred on July 1, 2026, along the north wall of the Barnat open pit at the Canadian Malartic complex in Quebec, Canada. There were no injuries, equipment damage or environmental impact as a result of the event. As a precautionary measure, the Company has temporarily suspended mining operations in the Barnat open pit. The rock mass movement occurred within an area that had been previously identified as having weaker geological structures within the north wall at Barnat and was subject to enhanced geotechnical monitoring in accordance with established mine planning and safety protocols, including safety exclusion zones. The Company's technical teams are conducting a detailed geotechnical assessment to confirm the stability of the affected area and determine the appropriate path forward. Planning activities are underway to support the safe and orderly resumption of operations in the Barnat pit. Safety remains the Company's highest priority. During the suspension of in-pit mining operations, the Canadian Malartic processing plant will be supplied with low-grade ore from existing stockpiles in place of planned Barnat ore feed. This approach is expected to help mitigate the near-term impact on production. Production in the second quarter of 2026 was not affected and the Company expects production for the second quarter of approximately 845,000 ounces of gold, slightly ahead of plan. However, based on currently available information, the Company expects the rock mass movement to reduce production in the second half of 2026 at Canadian Malartic by approximately 60,000 to 80,000 ounces of gold. Accordingly, the Company expects full year 2026 production to be near the lower end of its previously disclosed guidance range of 3.3 million to 3.5 million ounces of gold. The Barnat open pit was expected to be mined out by early 2029. While the Company's geotechnical assessment remains ongoing, the event is currently expected to result in reduced production in both 2027 and 2028 of up to approximately 150,000 ounces of gold per year. The Company is continuing to evaluate opportunities to mitigate this potential impact to its production outlook. Importantly, the Company believes that the rock mass movement will not affect the development or production outlook for the Odyssey mine and does not change the pathway to achieving annual production of 1 million ounces of gold from the Canadian Malartic complex in the early 2030s. The Company will continue to advance its geotechnical assessment and refine the timing for a safe restart of mining operations at the Barnat open pit. Further updates to production and cost guidance will be provided with the Company's second quarter 2026 results, scheduled for release after market close on July 29, 2026. About Agnico Eagle Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. Agnico Eagle is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. 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. For further information regarding Agnico Eagle, contact Investor Relations at [email protected] or call (416) 947-1212. Forward-Looking Statements Certain statements contained in this news release 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". All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could, or may or will occur are forward-looking statements. When used in this news release, the words "could", "estimate", "expect", "guide", "may", "pathway", "plan", "potential", "schedule", "will", and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this news release include, without limitation, statements relating to the Company's forward-looking guidance, including gold production for 2026, 2027 and 2028; life of mine estimates; the use of low-grade stock piles at the Canadian Malartic processing facility; the potential to mitigate the impact production impacts from the rock mass movement; the target to achieve annual production of 1 million ounces of gold from the Canadian Malartic complex in the early 2030s; the expected impact of the rock mass