The Osisko Acquisition - A Low Risk Accretive Transaction

North America April 2014

THE OSISKO ACQUISITION A Low Risk, Accretive

Transaction

AGNICO EAGLE | THE OSISKO ACQUISITION | 2

FORWARD LOOKING STATEMENTS

The information in this presentation has been prepared as at April 17, 2014. Certain statements contained in this document 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. When used in this document, the words “anticipate”, “expect”, “estimate”, “forecast”, “will”, “planned”, and similar expressions are intended to identify forward-looking statements or information. Such statements and information include without limitation: statements regarding the timing and closing of the transactions contemplated by the Arrangement between Agnico Eagle, Yamana, and Osisko Agreement (“Transaction”), statements regarding synergies resulting from the Transaction, statements regarding the effect of the Transaction on Agnico Eagle’s net asset value, operating cash flow, free cash flow, production, reserves, resources, total cash cost, all-in sustaining costs, and debt levels, statements regarding timing and amounts of capital expenditures and other assumptions; estimates of future reserves, resources, mineral production, optimization efforts and sales; estimates of mine life; estimates of future internal rates of return, mining costs, total cash costs, minesite costs, all-in sustaining costs and other expenses; estimates of future capital expenditures and other cash needs, and expectations as to the funding thereof; statements and information as to the projected development of certain ore deposits, including estimates of exploration, development and production and other capital costs, and estimates of the timing of such exploration, development and production or decisions with respect to such exploration, development and production; estimates of reserves and resources, and statements and information regarding anticipated future exploration; the anticipated timing of events with respect to the Company’s mine sites and statements and information regarding the sufficiency of the Company’s cash resources. Such statements and information reflect the Company’s views as at the date of this document and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements and information. 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. The material factors and assumptions used in the preparation of the forward looking statements and information contained herein, which may prove to be incorrect, include, but are not limited to, the assumptions set forth herein and in management's discussion and analysis (“MD&A”) and the Company's Annual Information Form (“AIF”) for the year ended December 31, 2103 filed with Canadian securities regulators that are included in its Annual Report on Form 40-F for the year ended December 31, 2013 (“Form 40-F”) filed with the U.S. Securities and Exchange Commission (the “SEC”) as well as: that the Transaction is completed on the terms and in the timeframe expected, that there are no significant disruptions affecting operations; that production, permitting and expansion at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the relevant metals prices, exchange rates and prices for key mining and construction supplies will be consistent with Agnico Eagle's expectations; that Agnico Eagle's current estimates of mineral reserves, mineral resources, mineral grades and metal recovery are accurate; that there are no material delays in the timing for completion of ongoing growth projects; that the Company's current plans to optimize production are successful; and that there are no material variations in the current tax and regulatory environment. Many factors, known and unknown could cause the actual results to be materially different from those expressed or implied by such forward looking statements and information. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs; mining risks; community protests; risks associated with foreign operations; governmental and environmental regulation; the volatility of the Company’s stock price; and risks associated with the Company’s byproduct metal derivative strategies. For a more detailed discussion of such risks and other factors that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this document, see the AIF filed on SEDAR at www.sedar.com and included in the Form 40-F filed on EDGAR at www.sec.gov, as well as the Company’s other filings with the Canadian securities regulators and the SEC. The Company does not intend, and does not assume any obligation, to update these forward-looking statements and information. For a detailed breakdown of the Company’s reserve and resource position see the AIF or Form 40-F.


NOTES TO INVESTORS

Note Regarding the Use of Non-GAAP Financial Measures

This document presents estimates of future “total cash cost per ounce”, “minesite cost per tonne”, and “all-in sustaining cost per ounce” that are not recognized measures under United States generally accepted accounting principles (“US GAAP”). This data may not be comparable to data presented by other gold producers. These future estimates are based upon the total cash costs per ounce, minesite costs per tonne and all-in sustaining costs per ounce that the Company expects to incur to mine gold at the applicable sites and do not include production costs attributable to accretion expense and other asset retirement costs, which will vary over time as each project is developed and mined. It is therefore not practicable to reconcile these forward-looking non-GAAP financial measures to the most comparable GAAP measure. A reconciliation of the Company’s total cash cost per ounce, all-in sustaining cost per ounce, and minesite cost per tonne to the most comparable financial measures calculated and presented in accordance with US GAAP for the Company’s historical results of operations is set forth in the Company’s MD&A available on SEDAR at www.sedar.com and included in the Company’s Form 40-F available on EDGAR at www.sec.gov, as well as the Company’s other filings with the Canadian securities regulators and the SEC.

Note Regarding Production Guidance

The gold production guidance is based on the Company’s mineral reserves but includes contingencies and assumes metal prices and foreign exchange rates that are different from those used in the reserve estimates. These factors and others mean that the gold production guidance presented in this disclosure does not reconcile exactly with the production models used to support these mineral reserves.


Record First Quarter 2014 production of 366,421 ounces builds on 2013 operational success: – Record annual 2013 gold production of 1.10 Moz with total cash costs of $672/oz, and all-in

sustaining costs of $952/oz

Strong 1Q 2014 cash flow allows US$130 million repayment to revolving credit facility

Joint bid with Yamana Gold for Osisko Mining Corporation on April 16, 2014 – acquisition is a good strategic fit and enhancement to Agnico Eagle’s already strong business platform

HIGHLIGHTS


Bid Price • C$8.15 per Osisko share • C$3.9 billion equity value

Consideration Offered

• C$2.09 in cash per Osisko share, equal contribution by Agnico Eagle and Yamana • 0.07264 of Agnico Eagle common shares (value of C$2.43 per share), 0.26471 of Yamana common shares (value of C$2.43 per share) • C$1.20 per share in Spinco common shares

Structure • Joint offer to acquire 100% of Osisko’s outstanding common shares • Agnico Eagle and Yamana become equal partners in Osisko’s Canadian Malartic mine and a suite of high potential exploration projects in

Ontario and Quebec • Canadian Malartic mine to be operated through a joint operating committee

Premium • 11% premium to the implied value of the current Goldcorp hostile bid • 10% premium to Osisko’s close on April 15, 2014

Financing • Agnico Eagle and Yamana will each fund C$501 million in cash • Remaining consideration in Agnico Eagle and Yamana shares plus shares in Spinco

Conditions • Osisko shareholder vote (66 2/3% of shareholders voting) • Regulatory and court approvals

Other Terms • C$195 million break fee shared equally by Agnico Eagle and Yamana • Shareholders of Osisko, including all directors and officers, holding approximately 4.5% of the shares, have entered into voting agreements

with Agnico Eagle and Yamana • Non-solicitation and 5-day right to match superior proposal provision • C$10 million cost reimbursement to each of Agnico Eagle and Yamana under certain circumstances

Indicative Timetable

• Osisko shareholder vote expected to be held later in May 2014 • Closing expected early June 2014

TRANSACTION SUMMARY

Note: Based on closing prices from April 15, 2014.


Value per Osisko Share (C$/Share)

C$2.10

C$1.20 Spinco

C$2.43 AEM Shares

C$2.43 YRI Shares

C$2.09 Cash

C$8.15

C$4.42 G Shares

C$2.92 Cash

C$7.34 +11%

Goldcorp Offer Agnico/Yamana Offer

Note: Based on closing prices from April 15, 2014.

Agnico Eagle and Yamana joint offer of C$8.15 delivers superior value


TRANSACTION RATIONALE

Accretive to per share financial metrics and operating metrics

Simple, low risk acquisition – Canadian Malartic is an asset without permitting, construction capital or start up risk

Builds on the Northern Business Platform – Canadian Malartic is forecast to produce an average of ~600,000 ozs gold per year for 14 years (100% basis)

Minimal share dilution – OSK shareholders will own 16.7% of Agnico Eagle. In line with previous deals

Manageable debt levels – added debt is manageable in the context of a larger business generating stronger free cash flow

Expecting synergies with existing Québec operations

Kirkland Lake assets enhance and add flexibility to development project pipeline

Maintains strategy of operating in supportive regions with low political risk


Source: Osisko press release (March 20, 2014). *Assumes half year production post acquisition ** Includes 5% NSR to Spinco

CANADIAN MALARTIC PRODUCTION AND COST PROFILE (100% BASIS)

$0

$100

$200

$300

$400

$500

$600

$700

$800

0

100

200

300

400

500

600

700

800

2014* 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Cash Costs (US$/oz)

Att

ribu

tabl

e G

old

Prod

ucti

on (

k oz

)

Gold Production Adjusted Cash Cost**


FINANCIAL POSITION CASH, EXPECTED CASH FLOWS, AND AVAILABLE CREDIT PROVIDE FLEXIBILITY

Long-term Debt Maturities

2017 2020 2022 2024

Notes Outstanding (millions) $115 $360 $225 $100

Coupon 6.13% 6.67% 5.93% 5.02%

All Amounts Are In US$, (Unless Otherwise Indicated) Dec 31, 2013

Cash And Cash Equivalents (millions) $170

Outstanding Debt (billion)* $0.87

Available Credit Facilities (billion)* $1.13

Common Shares Outstanding, Basic (FY 2013 Weighted Average, millions) 172.9

Common Shares Outstanding, Fully Diluted (FY 2013 Weighted Average, millions) 172.9

*Includes $130 million of repayments on revolving credit facility completed in 2014


BENEFITS TO AGNICO EAGLE

Accretive to financial and operating metrics – NAV, EPS, CFPS, FCFPS, production, reserves, and resources.

Approximately 20% increase to forecasted production profile through 2016

Expected to improve total cash cost and all-in sustaining cost (AISC) profiles

Synergies with existing Abitibi operations – Creates Québec’s largest gold producer with 4 mines within ~50 km. Synergies to be further quantified

Potential to optimize the Canadian Malartic mine plan – Agnico Eagle’s operational experience at Meadowbank and Yamana’s expertise from Chapada will prove helpful

Enhances the exploration and development pipeline


204,380 234,837 218,980 235,000 295,000 300,000

781,080 808,974 880,355

955,000 955,000 975,000

133,000

296,000 315,000

$580

$640

$672 $667

2011A 2012A 2013A 2014E* 2015E* 2016E*

ENHANCES FORECASTED PRODUCTION PROFILE APPROXIMATELY 20% GROWTH FROM 2014 THROUGH 2016

Payable Gold Production Profile

* Canadian Malarctic production is 50% of the LOM estimate from Mar 20, 2014 Osisko press release Note: 2014 estimate assumes half year ownership

985,460 1,043,811 1,099,335

1,323,000

1,546,000 1,590,000

Northern Business (oz) Southern Business (oz) Canadian Malarctic Cash Cost


ENHANCES AGNICO EAGLE’S RESERVE AND RESOURCE BASE GOLD RESERVES & RESOURCES(1) (M OZ)

Note: As of December 31, 2013 (1) Based on updated resource estimate for Osisko announced on March 20, 2014

16.9

9.7 10.1

21.6

15.4

13.2

P&P Reserves M&I Resources Inferred Resources

+59% +31% +28%


489 375

545

296 223 176

310

245

309

100

257

75

32

296

Goldcorp Agnico Eagle Detour Yamana Barrick AuRico

2015E Gold Production (koz)

Red Lake

Hemlo Young-Davidson

Detour Lake

Canadian Malartic

(50%)

Porcupine

Eleonore

Musselwhite

Cochenour

Meadowbank

LaRonde

Goldex

Lapa

Canadian Malartic

(50%)

GOLD PRODUCTION IN CANADA

Agnico Eagle Property

Osisko Property

Falco Pacific Property (Osisko – 12% Ownership)

Operating Mine

Highways

Legend

Combining Canadian Malartic and Agnico Eagle would create in-region synergies in Québec

Acquiring 50% of Osisko would create Québec’s largest gold producer

Gold Producers in Canada (1)

Val-d’Or Cadillac Town of

Malartic Rouyn-

Noranda

Canadian Malartic Upper Beaver –

Kirkland Lake

LaRonde Lapa

Goldex

Regional Overview

ACQUISITION ENHANCES EXISTING ABITIBI PLATFORM

(1) Source: Agnico Eagle management guidance, Osisko LOM Mine Plan for Canadian Malartic (announced on March 20, 2014) and analyst consensus estimates

LaRonde

Goldex

Lapa

29km

19km

17km

Distance to Malartic


Proven and Probable Reserves: 281.2 Mt @1.04 g/t Au

Global M&I Resources: 327.0 Mt @1.06g/t Au

Global Inferred Resources: 48.1 Mt @0.75 g/t Au

CANADIAN MALARTIC EXPLORATION POTENTIAL ODYSSEY TARGET APPEARS SIMILAR TO GOLDEX

Odyssey Targets (UG) 2.5 g/t Au over 42.7 m 7.2 g/t Au over 7.5 m historical Lac Minerals DDH 3.03 g/t Au over 38.1 m 2.53 g/t Au over 42.6 m 2.12 g/t Au over 70.1 m 1.83 g/t Au over 51.8 m 6.45 g/t Au over 14.0 m

Source: Reserve and resource estimates based on Osisko press release dated March 20, 2014. Odyssey drill results based on Osisko press release dated April 2, 2014.


$93 $98

$92 $90

$81

$90 $87

$83 $82 $79

Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Meadowbank Cost Per Tonne (C$ per tonne)

SUCESSFUL OPTIMIZATION AT MEADOWBANK MINE 15% IMPROVEMENT IN OPERATING COSTS FROM 2011 TO 2013

2011 2012 2013


*2014 Prod. : 215K oz * Reserves: 3.9 Moz @ 5.0 gpt Au * Indicated Resources: 4.2 Mt @ 2.12 gpt Au

*2014 Prod. : 80K oz * Reserves: 0.3 Moz @ 6.0 gpt Au * Indicated Resources: 1.6 Mt @ 4.28 gpt Au

PANDORA & WOOD PANDORA – JV PROJECTS PROPERTIES ARE CONTIGUOUS TO THE LAPA MINE

New Intersections 2013: 15.1 g/t Au over 11.8m 2012: 3.81 g/t Au over 41m 2011: 28.86 g/t Au over 4.9m PANDORA CLLF Targets

PN14-02: 1.2 g/t Au over 46.5m PN14-03: 1.8 g/t Au over 45.4m PN14-05 : 4.6 g/t Au over 34.7m PN14-06 : 1.1 g/t Au over 58.5m

Pandora

Source: Modified from Globex Investor Presentation March 2014


KIRKLAND LAKE PROJECTS 35 M OZ OF HISTORICAL GOLD PRODUCTION IN THE DISTRICT - MAIN TARGETS UPPER BEAVER & CANADIAN KIRKLAND

230km2 hosting five deposits with disclosed NI 43-101 resources of 2.1 Moz indicated and 1.8 Moz inferred

BIDGOOD (OP) Ind: 1.5 Mt @ 1.7 g/t Au, 76 k oz Inf: 0.3 Mt @ 2.0 g/t Au, 21 k oz

AK (UG) Ind: 1.2 Mt @ 4.5 g/t Au, 164 k oz Inf: 1.5 Mt @ 4.2 g/t Au, 207 k oz

ANOKI / MCBEAN (UG) Ind: 1.4 Mt @ 4.7 g/t Au, 217 k oz Inf: 1.6 Mt @ 4.7 g/t Au, 237 k oz

MACASSA MINE + SMC P+P: 1.5 Mt @ 17.9 g/t Au, 0.8 M oz M+I: 1.5 Mt @ 22.7 g/t Au, 1.0 M oz Inf: 1.2 Mt @ 23.0 g/t Au, 0.8 M oz

(UG) Ind: 0.24 Mt @ 4.3 g/t Au, 33 k oz (UG) Inf: 3.6 Mt @ 4.8 g/t Au, 557 k oz (OP) Ind: 1.7 Mt @ 1.9 g/t Au, 104 k oz (OP) Inf: 1.3 Mt @ 1.9 g/t Au, 76 k oz

UPPER BEAVER (UG) Ind: 6.9 Mt @ 6.6 g/t Au, 1.5 M oz Inf: 4.6 Mt @ 4.9 g/t Au, 712 k oz

Canadian Kirkland

Upper Beaver

Source: Modified from Osisko reports and Kirkland Lake Gold reports


LOW POLITICAL RISK, MINING FRIENDLY JURISDICTIONS HELPS CREATE A MANAGEABLE BUSINESS

72% 68%

64% 60% 59%

54% 52%

40% 40%

AEM NEM ABX NGD GG AUY KGC IAG EGO

NA Gold Producers Political Risk Ranking

Production weighted Fraser Institute Policy Potential Index scores by company (2012-2015). Pre-Osisko transaction

Source: Fraser Institute, Barclays Research


PROJECT PIPELINE EXPECTED TO PROVIDE FURTHER GROWTH

Expansion EXPANSIONS FEASIBILITY EXPLORATION

Kittila Plant Expansion

Potential Kittila Shaft Hanhimaa

IVR

Goldex Satellites

Meliadine

NO

RTH

ERN

BU

SIN

ESS

Pinos Altos Shaft

Pinos Altos Satellites

Tarachi and La India

SOU

THER

N B

USI

NES

S

Kirkland Lake


Strong H1 2014 production expected at Meadowbank due to increased grades and accelerated stripping at Goose deposit

Commercial production expected at La India in Q1 2014 Continuing evaluation of satellite deposits at Pinos Altos and Goldex, which could enhance

production and cost profiles Updated Meliadine technical study in Q4 2014 Update on a production shaft and Rimpi Zone development at Kittila in late 2014 Completion of 750 tpd mill expansion at Kittilla by mid-2015 Installation of new ore conveyor at LaRonde Deep in 2015 – should help reduce costs and

congestion

FUTURE CATALYSTS


AGNICO EAGLE – A PREMIUM GOLD EQUITY

RUNNING A MANAGEABLE

BUSINESS

Delivering on

Production Guidance

20% Production

Growth Through

2016*

2014 AISC below $1000 per ounce

Highest Reserve Grade

amongst North

American Peers

Balance Sheet

Flexibility Low Share Count after

57 Years

32 years of

Consecutive Dividend Payments

Low Political Risk

Long term Experienced Management

Diversified Technical Expertise

*Post-Osisko bid

APPENDIX


2013 OPERATING RESULTS RECORD PRODUCTION AND IMPROVED COST PERFORMANCE

2013

Production (oz) Total Cash Cost ($/oz) Operating Margin ($, 000’s)

Northern Business LaRonde 181,781 $763 $99,989 Lapa 100,730 $678 $71,635 Goldex 20,810 $782 $8,246 Kittila 146,421 $601 $111,277 Meadowbank 430,613 $774 $227,579

880,355 $732 $518,726 Southern Business Pinos Altos 181,773 $412 $173,074 Creston Mascota 34,027 $485 $21,679 La India 3,180 n.a. n.a. 218,980 $424 $194,753 Total 1,099,335 $672 $713,479

2013 Total Operating Margin – $713 M 2013 Revenue by Metal

Gold 92%

Silver 6%

Base Metals 2%

Creston Mascota, 3%

Meadowbank32%

LaRonde, 14%

Lapa, 10%

Goldex, 1%

Kittila, 16% Pinos Altos, 24%


IMPROVED OPERATING METRICS PRODUCTIVITY AND COST SAVING INITIATIVES DELIVERING RESULTS

No production in Q2/13 due to scheduled shutdown No production in Q1/13 due to temporary suspension

Production (koz) Cost/tonne

$80

$88

$96

$104

$112

-

10

20

30

40

50

60

Q4-12 Q1-13 Q2-13 Q3-13 Q4-13

Laronde

$100

$105

$110

$115

$120

-

5

10

15

20

25

30

Q4-12 Q1-13 Q2-13 Q3-13 Q4-13

Lapa

$70

$76

$82

$88

$94

-

25

50

75

100

125

150

Q4-12 Q1-13 Q2-13 Q3-13 Q4-13

Meadowbank

$64

$68

$72

$76

$80

-

10

20

30

40

50

60

Q4-12 Q1-13 Q3-13 Q4-13

Kittila

$-

$14

$28

$42

$56

-

10

20

30

40

50

60

Q4-12 Q1-13 Q2-13 Q3-13 Q4-13

Pinos Altos

$-

$5

$10

$15

$20

6

7

8

9

10

11

12

Q2-13 Q3-13 Q4-13

Creston Mascota

Includes milling and heap leach tonnes


NORTHERN BUSINESS – FINLAND AND CANADA HIGHER CAPITAL REQUIREMENTS, BUT GENERALLY LONGER LIFE PRODUCTION ASSETS

2014 FORECAST HIGHLIGHTS

LARONDE 215,000 ozs at a total cash cost of $671/oz

Cooling plant now operational – provides additional flexibility to mining plan

Production from deeper, higher grade area of the mine expected to ramp up substantially through 2016

MEADOWBANK 430,000 ozs at a total cash cost of $629/oz

Record low minesite costs per tonne in the fourth quarter 2013 expected to continue in 2014

Higher grades at Goose expected to persist into 2014, leading to strong first half production

KITTILA 150,000 ozs at a total cash cost of $759/oz

750 tpd mill expansion remains on budget with start-up expected in mid-2015

Production shaft and Rimpi zone development under consideration

GOLDEX 80,000 ozs at a total cash cost of $799/oz

Throughput expected to increase to 6,000 tpd in 2015

Continuing evaluation of satellite deposits – potential to enhance production and cost profile

LAPA 80,000 ozs at a total cash cost of $850/oz

Improved minesite costs due to ongoing cost saving measures

Positive exploration at Zulapa 8 zone could extend mine life


SOUTHERN BUSINESS – MEXICO LOWER CAPITAL COST ASSETS WITH POTENTIAL FOR SIGNIFICANT CASH FLOW GENERATION

2014 FORECAST HIGHLIGHTS

PINOS ALTOS 145,000 ozs at a total cash cost of $532/oz

Strong mill performance continued in 2013

Shaft sinking project at Pinos Altos on schedule for 2015 startup which should allow for better matching of mill and mining capacity

CRESTON MASCOTA

40,000 ozs at a total cash cost of $754/oz

Phase 3 leach pad construction at Creston Mascota expected to be completed by late March 2014

Stronger production expected in 2H 2014 with commissioning of a new agglomerator

LA INDIA 50,000 ozs at a total cash cost of $743/oz

Commercial production expected in Q1 2014

Throughput continues to ramp up - stacking rates currently averaging approx. 12,000 tpd


ESTIMATED PAYABLE GOLD PRODUCTION (2014 – 2016)* 2014 2015 2016

Estimated Mid Point (oz) Total Cash Cost ($/oz) Estimated Mid Point (oz) Estimated Mid Point (oz)

Northern Business

LaRonde 215,000 $671 245,000 285,000

Lapa 80,000 $850 75,000 45,000

Goldex 80,000 $799 100,000 90,000

Kittila 150,000 $759 160,000 170,000

Meadowbank 430,000 $629 375,000 385,000

955,000 $692 955,000 975,000 Southern Business Pinos Altos 145,000 $532 165,000 170,000

Creston Mascota 40,000 $754 40,000 40,000

La India 50,000 $743 90,000 90,000

235,000 $615 295,000 300,000 Total Gold Production 1,190,000 $678 1,250,000 1,275,000

2014

Ag Production (000’s oz) Zn Production (tonnes) Cu Production (tonnes)

Northern Business 1,027 7,830 5,126

Southern Business 2,173 - -

Total Byproduct Production 3,200 7,830 5,126

Estimated Byproduct Production – 2014

*Pre-Osisko bid


GOLD AND SILVER RESERVES AND RESOURCES* DECEMBER 31, 2013

Gold Silver

Tonnes (000’s)

Gold (g/t)

Gold (ounces) (000’s)

Tonnes (000’s)

Silver (g/t)

Silver (ounces) (000’s)

Reserves

Northern Business 93,618 4.60 13,841 24,127 19.59 15,192

Southern Business 55,800 1.69 3,024 28,703 64.32 59,354

Total 149,418 3.51 16,865 52,830 43.89 74,546

Measured & Indicated Resources



Total 157,040 1.91 9,654 18,177 33.37 19,502

Inferred Resources



Total 169,470 1.86 10,121 28,243 21.97 19,948

See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. Reserves are not a subset of resources *Pre-Osisko bid


COPPER, ZINC AND LEAD RESERVES AND RESOURCES* DECEMBER 31, 2013

Copper Zinc Lead

Tonnes (000’s)

Copper (%)

Copper (tonnes)

Tonnes (000’s)

Zinc (%)

Zinc (tonnes)

Tonnes (000’s)

Lead (%)

Lead (tonnes)

Reserves

Northern Business 24,127 0.25 59,519 24,127 0.67 161,108 24,127 0.04 9,964

Southern Business

Total 24,127 0.25 59,519 24,127 0.67 161,108 24,127 0.04 9,964

Measured & Indicated Resources


Southern Business

Total 4,242 0.16 6,981 4,242 1.61 68,127 4,242 0.16 6,793

Inferred Resources


Southern Business

Total 10,536 0.27 28,118 10,536 0.55 58,463 10,536 0.05 5,176

See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. Reserves are not a subset of resources *Pre-Osisko bid


NOTES TO INVESTORS REGARDING THE USE OF RESOURCES

Cautionary Note to Investors Concerning Estimates of Measured and Indicated Resources This document uses the terms “measured resources” and “indicated resources”. We advise investors that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Cautionary Note to Investors Concerning Estimates of Inferred Resources This document also uses the term “inferred resources”. We advise investors that while this term is recognized and required by Canadian regulations, the SEC does not recognize it. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. Scientific and Technical Data Agnico Eagle Mines Limited is reporting mineral resource and reserve estimates in accordance with the CIM guidelines for the estimation, classification and reporting of resources and reserves. Cautionary Note To U.S. Investors – The SEC permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Agnico Eagle uses certain terms in this presentation, such as “measured”, “indicated”, and “inferred”, and “resources” that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 40-F and other U.S. filings, which may be obtained from us, or from the SEC’s website at: http://sec.gov/edgar.shtml. In prior periods, reserves for all properties were typically estimated using historic three-year average metals prices and foreign exchange rates in accordance with the SEC guidelines. These guidelines require the use of prices that reflect current economic conditions at the time of reserve determination, which the Staff of the SEC has interpreted to mean historic three-year average prices. Given the current lower commodity price environment, Agnico Eagle has decided to use price assumptions that are below the three-year averages. The assumptions used for the mineral reserves estimates at all mines and advanced projects as of December 31, 2013, reported by the Company on February 12, 2014, are $1,200 per ounce gold, $18.00 per ounce silver, $0.82 per pound zinc, $3.00 per pound copper, $0.91 per pound lead and C$/US$, US$/Euro and MXP/US$ exchange rates of 1.03, 1.32 and 12.75, respectively. The Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”) requires mining companies to disclose reserves and resources using the subcategories of “proven” reserves, “probable” reserves, “measured” resources, “indicated” resources and “inferred” resources. Mineral resources that are not mineral reserves do not have demonstrated economic viability.


NOTES TO INVESTORS REGARDING THE USE OF RESOURCES

A mineral reserve is the economically mineable part of a measured or indicated mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A mineral reserve includes diluting materials and allows for losses that may occur when the material is mined. A proven mineral reserve is the economically mineable part of a measured mineral resource demonstrated by at least a preliminary feasibility study. A probable mineral reserve is the economically mineable part of an indicated, and in some circumstances, a measured mineral resource demonstrated by at least a preliminary feasibility study. A mineral resource is a concentration or occurrence of natural, solid, inorganic material, or natural solid fossilized organic material including base and precious metals in or on the Earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge. A measured mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity. An indicated mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed. An inferred mineral resource is that part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. A Feasibility Study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments of realistically assumed mining, processing, metallurgical, economic, marketing, legal, environmental, social and governmental considerations together with any other relevant operational factors and detailed financial analysis, that are necessary to demonstrate at the time of reporting that extraction is reasonably justified (economically mineable). The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution to proceed with, or finance, the development of the project. The confidence level of the study will be higher than that of a Pre-Feasibility Study. The effective date for all of the Company’s mineral resource and reserve estimates in this presentation is December 31, 2013. Additional information about each of the mineral projects that is required by NI 43-101, sections 3.2 and 3.3 and paragraphs 3.4 (a), (c) and (d) can be found in the technical reports referred to in the AIF and Form 40-F, which may be found at www.sedar.com. Other important operating information can also be found in the AIF and technical reports that is included in the Form 40-F available on EDGAR at www.sec.gov. The mineral reserve and resource information has been reviewed and approved by Daniel Doucet, Corporate Director, Reserve Development, under the supervision of Alain Blackburn, Senior Vice-President, Exploration. Both Mr. Doucet and Mr. Blackburn are designated P.Eng. with the Ordre ingenieurs du Québec and qualified persons as defined by NI 43-101.

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