January 2018 Corporate Presentation

2

Cautionary NotesThis presentation, the information contained herein, any other materials provided in connection with this presentation and any oral remarks accompanying this presentation (collectively, this “Presentation”) has been prepared by Alamos Gold Inc. (“Alamos”) solely for information purposes. No Stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. This presentation does not constitute an offering of securities and the information contained herein is subject to the information contained in the Company’s continuous disclosure documents at www.sedar.com.

Cautionary NotesCertain statements in this presentation are “forward-looking statements”, including within the meaning of applicable laws. All statements other than statements of historical fact included in this presentation, including, without limitation, statements Alamos’ net asset value, operating cash flow, free cash flow, forecast gold production, Mineral Reserves, Mineral Resources, exploration potential, gold grades, recoveries, waste-to-ore ratios, total cash cost, all-in sustaining costs, debt levels and future plans and objectives of Alamos are forward-looking statements based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management that involve various risks and uncertainties. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might”, or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements.” Alamos cautions that forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Alamos’ actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to, gold and silver price volatility; fluctuations in foreign exchange rates and interest rates; the impact of any hedging activities; discrepancies between actual and estimated production, between actual and estimated Mineral Reserves and Mineral Resources or between actual and estimated metallurgical recoveries; costs of production; capital expenditure requirements; the costs and timing of construction and development of new deposits; and the success of exploration and permitting activities. In addition, the factors described or referred to in the section entitled “Risk Factors” in Alamos’ Annual Information Form for the year ended December 31, 2016, which along with other documents setting out risk factors affecting the Company is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this presentation. Although Alamos has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking information.

Market data and other statistical information used throughout this Presentation are based on internal company research, independent industry publications, government publications, reports by market research firms or their published independent sources. Industry publications, governmental publications, market research surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. Although Alamos believes such information is accurate and reliable, it has not independently verified any of the data from third party sources cited or used for our management’s industry estimates, nor has Alamos ascertained the underlying economic assumptions relied upon therein. While Alamos believes internal company estimates are reliable, such estimates have not been verified by any independent sources, and Alamos makes no representations as to the accuracy of such estimates.

Note to U.S. InvestorsAlamos prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to Mineral Resources in this presentation are defined in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Unites States Securities and Exchange Commission (the “SEC”) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Alamos may use certain terms, such as “Measured Mineral Resources”, “Indicated Mineral Resources”, “Inferred Mineral Resources” and “Probable Mineral Reserves” that the SEC does not recognize (these terms may be used in this presentation and are included in the public filings of Alamos, which have been filed with the SEC and the securities commissions or similar authorities in Canada).

Cautionary non-GAAP Measures and Additional GAAP MeasuresNote that for purposes of this section, GAAP refers to IFRS. The Company believes that investors use certain non-GAAP and additional GAAP measures as indicators to assess gold mining companies. They are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared with GAAP.

“Cash flow from operating activities before changes in non-cash working capital” is a non-GAAP performance measure that could provide an indication of the Company’s ability to generate cash flows from operations, and is calculated by adding back the change in non-cash working capital to “Cash provided by (used in) operating activities” as presented on the Company’s consolidated statements of cash flows. “Free cash flow” is a non-GAAP performance measure that is calculated as cash flows from operations net of cash flows invested in mineral property, plant and equipment and exploration and evaluation assets as presented on the Company’s consolidated statements of cash flows and that would provide an indication of the Company’s ability to generate cash flows from its mineral projects. “Mine site free cash flow” is a non-GAAP measure which includes cash flow from operating activities at, less capital expenditures at each mine site. Return on Equity is defined as Earnings from Continuing Operations divided by the average Total Equity for the current and previous year. “Mining cost per tonne of ore” and “Cost per tonne of ore” are non-GAAP performance measures that could provide an indication of the mining and processing efficiency and effectiveness of the mine. These measures are calculated by dividing the relevant mining and processing costs and total costs by the tonnes of ore processed in the period. “Cost per tonne of ore” is usually affected by operating efficiencies and waste-to-ore ratios in the period. “Total cash costs per ounce”, “all-in sustaining costs per ounce”, and “mine-site all-in sustaining costs” as used in this analysis are non-GAAP terms typically used by gold mining companies to assess the level of gross margin available to the Company by subtracting these costs from the unit price realized during the period. These non-GAAP terms are also used to assess the ability of a mining company to generate cash flow from operations. There may be some variation in the method of computation of these metrics as determined by the Company compared with other mining companies. In this context, “total cash costs” reflects mining and processing costs allocated from in-process and dore inventory associated and associated royalties with ounces of gold sold in the period. Total cash costs per ounce are exclusive of exploration costs. “All-in sustaining costs per ounce” include total cash costs, exploration, corporate and administrative, share based compensation and sustaining capital costs. “Mine-site all-in sustaining costs” include total cash costs, exploration, and sustaining capital costs for the mine-site, but exclude an allocation of corporate and administrative and share based compensation.

Additional GAAP measures that are presented on the face of the Company’s consolidated statements of comprehensive income and are not meant to be a substitute for other subtotals or totals presented in accordance with IFRS, but rather should be evaluated inconjunction with such IFRS measures. This includes “Earnings from operations”, which is intended to provide an indication of the Company’s operating performance, and represents the amount of earnings before net finance income/expense, foreign exchange gain/loss, other income/loss, and income tax expense. Non-GAAP and additional GAAP measures do not have a standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other companies. A reconciliation ofhistorical non-GAAP and additional GAAP measures are available at www.alamosgold.com.

Technical InformationChris Bostwick, FAusIMM, Alamos Gold’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this presentation. Chris Bostwick is a Qualified Person within the meaning of Canadian Securities Administrator’s National Instrument 43-101 (“NI 43-101”). The Qualified Persons for the National Instrument 43-101 compliant mineral reserve and resource estimates are detailed in the tables in the appendix of this presentation. Information pertaining to the geological and exploration content has been reviewed and approved by Aoife McGrath, Alamos' Vice President, Exploration, a Qualified Person.

All figures in US$ unless otherwise indicated.

31 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.2 Includes cash, cash equivalents and equity securities of as of December 31, 2017. Total liquidity also includes undrawn $400m credit facility.

Strong Platform for Delivering Long Term Value

Diversified gold production480,000 – 520,000 oz from four North American mines

Expanding margins$950/oz AISC1 in 2018, declining

through 2020

Peer leading growthPortfolio of 6 low-cost development projects

Strong balance sheetDebt free, $235m cash2 & $635m total liquidity to support growth

Track record of delivering

shareholder value

4

2017 Year in Review – Record Performance

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

• Met production guidance – third consecutive year• 10% production growth driving record performance• ~7% reduction in AISC1

• Strongest operating cash flow & mine-site FCF since 2015 merger• Strengthened operating base – Richmont acquisition completed late November

Record operational performance

• Delivered three feasibility studies outlining >400koz of high margin production growth• La Yaqui initial production early September ahead of schedule• Kirazlı site development underway

Advanced development pipeline

• Debt free having eliminated $315m of debt • Increased total liquidity to >$600m through expanded revolver on better terms• Attractive valuation opportunity

Improved financial flexibility

5

2015A 2016A 2017A 2018E

$1,091

$1,010

$940 $950

2015A 2016A 2017E 2018E

Growing Production, Declining Costs, Expanding Margins

Gold Production (000 oz)

AISC1,2,3 (US$/oz)

-6%

Cost of Sales1,4 (US$/oz)

1 2017E guidance excludes Island Gold Mine with the acquisition closing on November 23, 2017.2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures. 3 Total consolidated all-in sustaining costs include corporate and administrative and share based compensation expenses. 4 Cost of sales includes mining and processing costs, royalties and amortization.5 AISC Margin calculated as realized gold price less AISC. For 2017E and 2018E this assumes a $1,250/oz gold price

+31%AISC Margin1,2,5 (US$/oz)

-3%

+28%

392

480-520

380

429

$1,241

$1,103$1,065 $1,075

2015A 2016A 2017E 2018E

$57

$229$322 $300

2015A 2016A 2017E 2018E

6

Canada57%Mexico

23%

Turkey20%

AĞI DAĞI (TURKEY) – Permitting3

Average Au Production 178kozMine-site AISC2 $411After-tax IRR +39%

KIRAZLI (TURKEY) – Permitting3

Average Au Production 104 kozMine-site AISC2 $373/ozAfter-tax IRR +44%

ÇAMYURT (TURKEY) – Permitting3

Average Au Production 93 koz

Mine-site AISC2 $645

After-tax IRR +253%

Top 10 North American Gold Producer

MULATOS (SONORA, MEXICO)

2018E Au Production 150-160 koz2018E Au Mine-site AISC US$900/oz

EL CHANATE (SONORA, MEXICO)

2018E Au Production 40-50 koz

2018E Au Mine-site AISC US$1,200/oz

YOUNG-DAVIDSON (ONTARIO, CANADA)

2018E Au Production 200-210 koz2018E Au Mine-site AISC US$850/oz

Producing Assets

Exploration / Development Assets

1 Source: Select street research2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.3 Average annual production and mine-site AISC for Turkish projects and Lynn Lake are detailed in economic studies completed in 2017.Note: Mineral resources are exclusive of mineral reserves. See mineral reserve and resource estimates and associated footnotes in appendix.

ISLAND GOLD (ONTARIO, CANADA)

2018E Au Production 90-100 koz2018E Au Mine-site AISC US$825/oz

QUARTZ MOUNTAIN (USA) – Adv. Exploration

Total Au M&I Resources 0.3 Moz (12.2mt @ 0.87 g/t)

Total Au Inf. Resources 1.1 Moz (39.2mt @0.91 g/t)

ESPERANZA (MEXICO) – Permitting

Total Au M&I Resources 1.1 Moz (34.4mt @ 0.98 g/t)

LYNN LAKE (CANADA) – Permitting3

Average Au Production 143 koz (Years 1-10)Mine-site AISC2 $745After-tax IRR +13%

Asset NPV by Geography1

Asset NPV by Stage1

Production72%

Development28%

Canada60%

Mexico40%

North American Production

7

Kirazlı

Ağı Dağı

Çamyurt

Lynn Lake

Permitting & Development

Young-Davidson

Stable Operating Base; Peer Leading Growth Profile

Island Gold

Mulatos

El Chanate

Mulatos District

Island Gold District

Esperanza

Quartz Mountain

>400 kozCombined annual production

growth potential

North American

Production

Exploration

Controlled, disciplined, multi-stage growth

44% After-tax IRR1

39% After-tax IRR1

253% After-tax IRR1

13% After-tax IRR1

~500 koz Stable, long-term production base;

declining cost profile

1 After-tax IRR for Turkish and Lynn Lake projects based on gold and silver prices of $1,250 and $16 per ounce, respectively. For more details, see press releases dated February 15 & 22, 2017 and December 14, 2017.

8

$315m High yield notes retired in April 2017

Strong Balance Sheet – Debt Free

1 Unaudited management estimate as of December 31, 2017.2 Cash, cash equivalents & equity securities as of December 31, 2017.3 Total liquidity includes cash, cash equivalents, equity securities and undrawn $400m credit facility for Alamos Gold as of December 31, 20174As of January 10, 2018

Balance Sheet

Cash & Cash Eq.1,2 US$235 million

Total Liquidity3 US$635 million

Total Debt US$0

Capital Structure

Shares Outstanding 389.1 million

Warrants 12.2 million

Employee Options 11.1 million

Fully Diluted 415.4 million

Recent Share Price (TSX)4 C$7.94

Market Capitalization ~C$3.1 billion

$24m Annual interest savings; $72m over remaining term

$235m

$400m$635m

As of December 31, 2017

Cash & Total Liquidity

Cash, cash equivalents & equity securitiesUndrawn Credit Facility

3

9

671%

8%

275%

-50%

450%

950%

1450%

1950%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Alamos Gold Share Price (TSX)S&P/TSX Global Gold IndexGold (US$/oz)

Track Record of Delivering Shareholder Value

1 Based on consensus analyst net asset value (NAV) estimates.2 Cumulative free cash flow (FCF) generated to date. Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

15%Annualized return

since 2003

$118m Dividends paid to

date

Mulatos (US$m) Turkey (US$m)Young-Davidson (US$m) Lynn Lake (US$m)

Acquisition Cost (2003)

Acquisition Cost (2015)

Acquisition Cost (2010) & Capital Invested

Acquisition Cost (2016) & Capital Invested

Consensus NAV & Cumulative FCF

Consensus NAV Consensus NAV$20

$23

Consensus NAV & Cumulative FCF

Capital Invested Consensus NAV1 Cumulative FCF2Acquisition Cost

$10$427

$400$950

$1,159

$148$91

$504$71

10

Operations – Diversified North American Production

Long life reserve base

Declining costs & capital

Growing free cash flow

Growing production

11

Record Q4 & 2017 Performance

1 Cost of sales includes mining and processing costs, royalties and amortization.2 Total consolidated all-in sustaining costs include corporate and administrative and share based compensation expenses. For the purposes of calculating all-in sustaining costs at individual mine sites, the Company does not include corporate and administrative and share based compensation expenses.3 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures. 4 Includes capitalized exploration5 2017 guidance excludes revised capital budget for Turkish projects approved in April 2017

10%Production

growth from FY 2016

~7%Decrease in all-in sustaining costs3

from FY 2016

429 kozAchieved production guidance

with record performance

2016A Q3 YTD 2017 Q4 2017 2017A 2017E

Total gold production (k oz) 392 309 120 429 400-430

Gold sales (k oz) 389 303 127 430 -

Cost of sales (US$/oz, includes amortization)1 $1,103 $1,056 - - $1,065

All-in sustaining costs (US$/oz)2,3 $1,010 $946 - - $940

Capital Expenditures (US$M) $146.5 $123.3 - - $140-157

Average realized gold price (US$/oz) $1,239 $1,256 $1,275 $1,262

Operating revenues (US$M) $482.2 $381.1 $161.7 $542.8 -

Cash provided by operations before changes in WC (US$M)3 $148.0 $130.6 - - -

Mine-site free cash flow (US$M) 3 $35.4 $40.4

Net earnings (US$M) ($17.9) $31.3 - - -

Earnings per share (basic) ($0.07) $0.11 - - -

Cash, cash equivalents & equity securities (US$M)

$266 $168 ~$235 ~$235 -

Total debt (US$/M) $315 $0 $0 $0 -

Strongest earnings, cash flow &

mine-site free cash flow since since 2015 merger

12

La Yaqui Phase I

Q4 2017 Scorecard

La Yaqui initial production early September ahead of schedule

Kirazlı site development underway

Record Q4 production driven by record quarter from Young-Davidson

Young-Davidson MCM waste pass & pebble crusher completed

13

Young-Davidson – Flagship, Long-Life Production

2016A Q4/17A 2017A 2017E 2018EGold Production (k oz) 170.0 56.5 200.0 200-210 200-210Cost of Sales1 (US$/oz) $1,087 - - $1,050 $1,075Total Cash Costs2,3 (US$/oz) $657 - - $625 $675Mine-site AISC2,3 (US$/oz) $897 - - $775 $850Total Capital (US$m) $95 - - $70-80 $70-80Mine-site FCF2 (US$m) $4 - - - -

• One of Canada’s largest underground gold mines

• 15 year mine life based on YE 2016 mineral reserves

• Large resource base & exploration potential to support mine life extension

• Significant Canadian dollar exposure; ~95% of costs

Location: Ontario, Canada Stage: Producing

Ownership: 100% interest Operation: Underground

Gold Reserves & Resources4 Tonnes (000)

Grade (g/t Au)

oz Au (000)

P&P Underground Reserves 42,054 2.70 3,653

M&I Underground Resources 10,792 3.39 1,177

Inferred Underground Resources 3,524 2.76 313

1 Cost of sales includes mining and processing costs, royalties and amortization.2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.3 Excludes Net Realizable Value (“NRV”) inventory adjustments. See associated MD&A for a full reconciliation.4 See mineral reserve and resource estimates and associated footnotes in appendix.

14

$1,162$1,087 $1,068 $1,075

2015A 2016A 2017 Q3YTD

2018E

$986$897 $824 $850

2015A 2016A 2017 Q3YTD

2018E2015A 2016A 2017A 2018E

-31%

Growing production; decliningcosts; declining capital intensity

Young-Davidson – Ramp up of Underground Mining

-14%+28%

~6,600 tpdAverage underground mining rate in 2017

-7%

6,000 tpdaverage underground mining rate in 2016

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.2 Cost of sales includes mining and processing costs, royalties and amortization

Total Capital Spending (US$m)

1

1.2

1.4

1.6

1.8

2

2.2

2.4

2.6

2.8

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Q1/

13

Q2/

13

Q3/

13

Q4/

13

Q1/

14

Q2/

14

Q3/

14

Q4/

14

Q1/

15

Q2/

15

Q3/

15

Q4/

15

Q1/

16

Q2/

16

Q3/

16

Q4/

16

Q1/

17

Q2/

17

Q3/

17

Underground TPD Mill TPD Processed Grade (g/t Au)

Tonn

es p

er d

ay

g/t A

u

Mine-site AISC (US$/oz)Production (000 oz)

Cost of Sales2 (US$/oz)

160 170200 200-210

2015A 2016A 2017E 2018E

$108$95

$70-80 $70-80

15

Island Gold – High-Grade, Low Cost Production

Location: Ontario, Canada Stage: Producing

Ownership: 100% interest Operation: Underground

Gold Reserves & Resources5 Tonnes (000)

Grade (g/t Au)

oz Au (000)

P&P Underground Reserves 2,551 9.17 752

M&I Underground Resources 479 5.94 91

Inferred Underground Resources 3,042 10.18 996

Highly Productive Gold Mining District2016A Q4/17A 2017A 2017E 2018E

Gold Production (k oz)1 83.3 22.1 98.6 87-93 90-100

Cost of Sales2 (US$/oz) - - - - $1,175

Total Cash Costs3 (US$/oz) $587 - - $550-$590 $575Mine-site AISC3 (US$/oz) $745 - - $725-$765 $825Total Capital4 (US$m) $43 - - $40-$44 $50-55Mine-site FCF3 (US$m) ($2) - - - -

1 Operating results from Island Gold prior to its acquisition has been included for comparative purposes. Production attributable to Alamos totals 9,000 oz in 2017 following the closing of the Richmont Mines acquisition on Nov. 23, 2017. 2 Cost of sales includes mining and processing costs, royalties and amortization.3 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.4 Excludes exploration5 See mineral reserve and resource estimates and associated footnotes in appendix.

• One of Canada’s highest grade & lowest cost gold mines

• PEA expansion to drive production higher & costs lower

• Significant upside potential reflecting inclusion of all mineral resources & ongoing exploration success

• Significant exploration potential laterally & at depth

0 50 100km

Marathon

Wawa

Hearst

Timmins

Iroquois Falls

Smooth Rock Falls

Eagle River, Wesdome

Borden, Goldcorp

Island Gold

Magino, Argonaut

Cote, IAMGOLD

Black Fox, McEwenTimmins West, Tahoe

Holloway, Kirkland Lake

Porcupine, Goldcorp

Bell Creek, Tahoe

Young-Davidson

Macassa, Kirkland Lake

Holt, Kirkland Lake

Lake Superior

ONTARIO

Hemlo, Barrick

144

101

17

17

11

101

Mine/ProjectCity

Dome Mine, Goldcorp

Hoyle Pond, Goldcorp

Cochrane

Pamour (PJV), Goldcorp

Taylor, Kirkland Lake

Detour Lake Mine, Detour Gold>25 Moz gold produced3

>35 Moz in defined reserves

16

90 94125

$735

$881

$550

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,00

0

50

100

150

200

250

300

350

2017E 2018E 2019E - 2024E Average

Gold Production (k oz) AISC (US$/oz)

$550 $7

00

$713

$715

$720

$730

$735

$775

$782

$787 $8

70 $980

$985 $1

,050

$1,0

75

$1,1

13

$1,1

50

$1,2

00

Isla

nd G

old

PEA

2019

-202

4

Seab

ee

LaRo

nde

Mus

selw

hite

Mel

iadi

ne

Cana

dian

Mal

artic

Isla

nd G

old

Youn

g-D

avid

son

Lapa

Mac

assa

Red

Lake

Wes

twoo

d

Eleo

nore

Bell

Cree

k

Det

our L

ake

Eagl

e Ri

ver

Casa

Ber

ardi

Blac

k Fo

x

Island Gold – Growing Production, Declining Costs

2017E All-in Sustaining Costs (US$/oz)

Mineral Reserve Grade (g/t Au)

Source: Company filingsPlease refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.Note: AISC based on midpoint of 2017 guidance where available, otherwise 1H/17 metrics shown. Eagle River AISC shown is Wesdome consolidated. Bell Creek AISC shown consolidated with Timmins West. TMAC AISC excluded due to recent guidance revisions. Island Gold based on PEA.

+39%

PEA Expansion: Island Gold Operating Profile

20.8

14.6

9.2 9.2 8.8 8.4 8.3 7.7 7.3 6.4 6.14.6 4.5 4.3 4.3 4.2 3.6 2.7

1.1 1.0

Mac

assa

Bruc

ejac

k

Isla

nd G

old

Eagl

e Ri

ver

Wes

twoo

d

Seab

ee

Red

Lake

Hop

e Ba

y

Mel

iadi

ne

Mus

selw

hite

Eleo

nore

Lapa

LaRo

nde

Casa

Ber

ardi

Blac

k Fo

x

Bell

Cree

k

Tim

min

s Wes

t

Youn

g-D

avid

son

Cana

dian

Mal

artic

Det

our L

ake

39%expected production

growth

Significant upside potential >750 koz of Inferred resources not factored into

mine plan + ongoing exploration potential

-25%expected decrease in

LOM AISC

17

67

564

1,037 1,003

768

996

154

111

233 219

72

91

172

141

144 184

562

752

4

5

6

7

8

9

10

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2011 2012 2013 2014 2015 2016

Island Gold – Mineral Reserve & Resource Growth

Mineral Reserves and Resources Over Time (koz)

Mineral Reserve grade

ReservesM&I ResourcesInferred Resources +309%

Increase mineral reserves since 2014

Strong track record of mineral reserve & resource growth

~$35/ozLow 2016 discovery costs

+30%Increase in 2016 year end inferred

mineral resource; 20% increase in grade

+44%Mineral reserve grade increase since

2014

Gra

de (g

/t A

u)

oz A

u

1,2

1 See mineral reserve and resource estimates and associated footnotes in appendix.2 Includes Proven & Probable reserves of 752,000 oz (2.6 mt at 9.17 g/t Au), Measured & Indicated resources of 91,000 oz (0.5 mt at 5.94 g/t Au) & Inferred resources of 996,000 oz (3.0 mt at 10.18 g/t Au)

18

Island Gold – Significant Exploration PotentialGold Metal Factor (Grade x True Width) - C & E1E Zones as of March 31, 2017

Significant exploration potential laterally& at depth

>750 k oz of Inferred mineral resources not included in PEA expansion plan

19

Island Gold – Ongoing Exploration SuccessGold Metal Factor (Grade x True Width) - C & E1E Zones as of January 10, 2018

Delineation drilling within C-Zone94.97 g/t Au over 3.83 m (840-529-24)62.85 g/t Au over 4.72 m (840-529-13)109.01 g/t Au over 2.55 m (840-524-23)14.82 g/t Au over 10.03 m (860-509-10)Exploration drilling13.32 g/t Au over 12.18 m (MH11, E1E Zone)10.58 g/t Au over 5.44 m (740-465-63, C Zone)23.71 g/t Au over 2.86 m (840-524-18, C Zone)25.92 g/t Au over 6.80 m (340-587-02, G6 Zone)22.28 g/t Au over 7.71 m (740-465-45, X Zone)

Grades & average thickness increasing at depth

Less than 15% of land package drilled

1 For further details, refer to press release dated Jan 11, 2018 “Alamos Reports Fourth Quarter 2017 Production and Provides 2018 Outlook”

New highlight intercepts since July 20171

20

Mulatos – Our Founding Operation

• Initial production 2005

• ~$400m of free cash flow1 generated to date

• Declining cost profile; 5% NSR royalty nearing completion

• Large underexplored land package (28,773 ha)

Location: Sonora, Mexico Stage: Producing

Ownership: 100% interest Operation: Open pit, heap leach & high grade mill

2016A Q4/17A 2017A 2017E 2018EGold Production (k oz) 154.0 42.7 160.0 150-160 150-160Cost of Sales1 (US$/oz) $1,088 - - $1,015 $950Total Cash Costs2 (US$/oz) $838 - - $815 $800Mine-site AISC2 (US$/oz) $916 - - $890 $900Total Capital3 (US$m) $33 - - $33-40 $26-30Mine-site FCF2,4 (US$m) $27 - - - -

Gold Reserves & Resources5 Tonnes (000)

Grade (g/t Au)

oz Au(000)

P&P Reserves 49,995 1.17 1,885M&I Resources 76,084 1.14 2,798Inferred Resources 10,280 0.98 325

1 Cost of sales includes mining and processing costs, royalties and amortization.2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.3 Capital spending guidance for 2017 and 2018 excludes capitalized exploration. 5 See mineral reserve and resource estimates and associated footnotes in appendix.

21

La Yaqui & Cerro Pelon

Mulatos – District Exploration Potential

1 See mineral reserve and resource estimates and associated footnotes in appendix.2 Includes Proven & Probable reserves of 608,000 oz (13.5 mt at 1.40 g/t Au), Measured & Indicated resources of 68,000 oz (1.1 mt at 1.91 g/t Au) & Inferred resources of 8,000 oz (0.2 mt at 1.39 g/t Au) for La Yaqui and Proven & Probable reserves of 170,000 oz (3.3 mt at 1.63 g/t Au), Measured & Indicated resources of 47,000 oz (0.6 mt at 2.56 g/t Au) & Inferred resources of 4,000 oz (0.1 mt at 1.23 g/t Au) for Cerro Pelon.

District potentialLarge underexplored land package; >70% of past drilling

focused near Mulatos mine

Mulatos District

Mulatos mine

220 259

778

47

115

236

0

100

200

300

400

500

600

700

800

900

1000

2014 2015 2016

Oun

ces (

000

Au)

Proven & Probable Mineral Reserves

Inferred Mineral Resources

Measured & Indicated Mineral Resources

1,2

La Yaqui Phase I

La Yaqui Grande

778k oz Combined mineral reserves1,2 at La Yaqui & Cerro Pelon,

a 254% increase since 2014

22

El Chanate – Consistent Gold Producer

• $3m site free cash flow2 generated Q3 2017 YTD

• $1,270/oz minimum realized gold price in 2018 with production hedged5

• Significant free cash flow at end of mine life through residual leaching

Location: Sonora, Mexico Stage: Producing

Ownership: 100% interest Operation: Open pit, heap leach

Gold Reserves & Resources4 Tonnes (000)

Grade (g/t Au)

oz Au(000)

P&P Reserves – Open Pit 10,812 0.56 193P&P Reserves – Leach Pad Inventory - - 100M&I Resources 4,415 0.66 93

2016A Q4/17A 2017A 2017E 2018EGold Production (k oz) 68.0 12.1 60.4 50-60 40-50Cost of Sales1 (US$/oz) $1,177 - - $1,265 $1,270Total Cash Costs2,3 (US$/oz) $1,052 - - $1,200 $1,200Mine-site AISC2,3 (US$/oz) $1,069 - - $1,200 $1,200Total Capital (US$m) $1 - - $2 -Mine-site FCF2 (US$m) $5 - - - -

1 Cost of sales includes mining and processing costs, royalties and amortization.2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.3 Excludes Net Realizable Value (“NRV”) inventory adjustments. See associated MD&A for a full reconciliation.4 See mineral reserve and resource estimates and associated footnotes in appendix.5 El Chanate’s 2017 and 2018 production has been hedged through gold collar contracts which ensure a minimum gold price of $1,270 per ounce and participation up to $1,444 per ounce in 2018.

23

Development – Peer Leading Growth Profile

Low cost, low capital intensity growth

Capacity to doublecurrent rate of production

6 development projects

24

Development: Kirazlı, Ağı Dağı & Çamyurt

Location: Turkey Stage: Development

Ownership: 100% interest Operation: Open pit, heap leach

• Kirazlı & Ağı Dağı EIAs approved

• Kirazlı Forestry Permits granted January 2017

• Kirazlı & Ağı Dağı feasibility studies completed February 20171 outlining 185% increase in combined after-tax NPV8%

• Tax incentives & mining law supportive of industry

Kirazlı2Tonnes Grade Contained Ounces(000) (g/t Au) (g/t Ag) (000 Au) (000 Ag)

Proven & Probable 26,104 0.79 12.01 665 10,078Measured & Indicated 5,966 0.43 2.18 82 418Inferred 5,689 0.59 8.96 108 1,638Ağı Dağı2

Proven & Probable 54,361 0.67 5.41 1,166 9,459Measured & Indicated 34,887 0.46 2.18 518 2,445Inferred 16,760 0.46 2.85 245 1,534Çamyurt2

Measured & Indicated 17,721 0.89 6.14 508 3,497Inferred 2,791 0.95 5.77 85 518

1 Please refer to press releases dated Feb 15 and Feb 22, 2017 regarding Kirazli & Agi Dagi feasibility studies & Camyurt preliminary economic assessment. The 185% increase is compared to the 2012 pre-feasibility study2 See mineral reserve and resource estimates and associated footnotes in appendix

25

Development: Kirazlı, Ağı Dağı & Çamyurt Economic Studies

Afte

r-ta

x N

PV8%

(US$

m)

$82m

$187m$88m

$298m

$86m

$0

$100

$200

$300

$400

$500

$600

2012 2017

Kirazlı Ağı Dağı Çamyurt

+236%

1 Please refer to press releases dated Feb 15 and Feb 22, 2017 regarding Kirazli & Agi Dagi Feasibility studies & Camyurt PEA. After-tax NPV8% in 2012 prefeasibility study and after-tax NPV8% and IRR in 2017 feasibility studies and PEA assume gold and silver prices of $1,250 and $16 per ounce, respectively 2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures

11

2017 Positive Economic Studies1Kirazlı

Feasibility Study

Ağı Dağı Feasibility

Study

ÇamyurtPEA

Mine Life Years 5 6 4

Average Annual Productionoz Au 104,000 177,600 93,200

oz Ag 617,300 444,200 403,000

Average grade g/t Au 0.79 0.67 0.92

Mine-site AISC2 US$m $373 $411 $645

Initial Capex US$m $152 $250 $10

Total Capex US$m $180 $313 $26

After-tax NPV5% US$m $223 $360 $111

After-tax NPV8% US$m $187 $298 $86

After-tax IRR % 44% 39% 253%

Gold Price Assumption US$/oz $1,250 $1,250 $1,250

>39%After-tax IRR for each of Kirazlı, Ağı Dağı & Çamyurt1

Low cost, high return growth

26

Quartz Mountain Location: Oregon, United States

Ownership: Right to earn a 100% interest4

Stage: Advanced Exploration

Esperanza Location: Morelos State, Mexico

Ownership: 100% interest

Stage: Development

Operation: Open pit, heap leach

Development: Lynn Lake, Esperanza & Quartz Mountain

1 Lynn Lake December 2017 feasibility study based on gold and silver price assumptions of $1250 and $16 per ounce, respectively. See press release dated December 14, 2017 for more details.2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.3 Historic column recovery tests for gold at Quartz Mountain varied between 74% and 88% for the felsic rock hosted mineralization; see Orsa Ventures press release dated February 12, 20134 See mineral reserve and resource estimates and associated footnotes in appendix.5 Additional C$3m due on completion of feasibility study & C$15m or 2% NSR upon successful permitting

Lynn LakeLocation: Manitoba, Canada

Ownership: 100% interest

Stage: Permitting

Operation: Open pit

Tonnes Grade Oz Au

(000) (g/t Au) (g/t Ag) (000 Au) (000 Ag)

M&I Resources4 34,352 0.98 8.09 1,083 8,936

Inf. Resources 718 0.80 15.04 18 347

Tonnes Grade Oz Au

(000) (g/t Au) (000 Au)

M&I Resources4 12,156 0.87 339

Inferred Resources 39,205 0.91 1,147

• Excellent infrastructure; low technical risk

• Low capital intensity & operating costs

• Average annual production potential > 100k oz

• AISC expected to be lowest quartile2

• Located on northern extension of prolific Basin & Range Province of Nevada

• Low strip ratio, favourable metallurgy3

• Acquisition cost $3.5m5

• High grade, open pit with significant exploration potential

• Existing infrastructure in place

• Low cost hydroelectric power

• Feasibility study results announced Dec 20171

• Average production: 143 koz (Years 1-10)• LOM Mine-site AISC2: $745• After-tax NPV5%: $123m; IRR: 13%

Tonnes Grade Oz Au

(000) (g/t Au) (g/t Ag) (000 Au) (000 Ag)

P&P Reserves4 26,800 1.89 2.99 1,625 2,578M&I Resources4 6,815 1.49 4.77 327 667Inf. Resources 45,812 1.11 2.80 1,629 67

27

Alamos – Investment Case

Catalysts

Diversified intermediate gold producer Low-cost growth profile

Strong balance sheet to support growth

Long term track record of delivering shareholder value

Q1 2017: Received Forestry Permits for Kirazlı project

Q1 2017: Positive Kirazlı & Ağı Dağı feasibility studies & Çamyurt PEA

Q1 2017: 31% increase in combined mineral reserves

Q3 2017: Initial production at La Yaqui

Q4 2017: Closing of Richmont acquisition

Q4 2017: Met consolidated 2017 production guidance

2018: Ongoing exploration at Island Gold and Mulatos

2018: Receipt of GSM permit for Kirazlı

H2 2018: Completion of Phase I Expansion at Island Gold

28

Appendices

29

Board of Directors and Executive and Management Team

Board of Directors

Executive and Management Team

Paul J. Murphy John A. McCluskey Mark J. Daniel Patrick D.

Downey David Fleck David Gower Claire M. C. Kennedy Ronald E. Smith Kenneth Stowe

Chairman Director Director Director Director Director Director Director Director

John A. McCluskey Jamie Porter Peter MacPhail Christine Barwell Chris Bostwick Luis Chavez

President and CEO Chief Financial Officer Chief Operating Officer VP, Human Resources VP, Technical Services Senior VP, Mexico

Andrew Cormier Nils Engelstad Greg Fisher Aoife McGrath Scott Parsons Colin Webster

VP, Development & Construction VP, General Counsel VP, Finance VP, Exploration VP, Investor Relations VP Sustainability & External Affairs

30

Sustainability

• Our Objectives

• As we pursue further growth, we will continue to measure our success as an

organization by our performance in achievement of our sustainability objectives:

• Protecting the health and well-being of our employees

• Creating shared value with our host communities and countries

• Ensuring that our operations are net-positive for the environment

• Over the years, Alamos has been recognized for its achievements in these areas:

Clean Industry Certification from PROFEPA• Alamos was certified as an Industria Limpia (clean industry) in recognition of the excellence of environmental management at Mulatos

CSR Award from Mexican Center for Philanthropy (CEMEFI)• Signifies exceptional record of CSR performance; • 2016 marked the 8th consecutive year for Alamos

31

2018 Guidance – Alamos

2018 Guidance 2017 GuidanceYoung-

Davidson Island Gold Mulatos El Chanate Total Total

Gold production (000’s ounces) 200-210 90-100 150-160 40-50 480-520 429 (actual)Cost of Sales (in millions) (4) $220 $112 $147 $57 $536 $442Cost of Sales ($ per ounce) (4) $1,075 $1,175 $950 $1,270 $1,075 $1,065Total cash costs ($ per ounce) (1) $675 $575 $800 $1,200 $740 $765All-in sustaining costs ($ per ounce) (1) $950 $940Mine-site all-in sustaining costs ($ per ounce) (1),(3) $850 $825 $900 $1,200 - -Capital expenditures (in millions)Sustaining capital(1) $35-40 $25-27 $8-10 - $68-77 $40-47Growth capital(1) $35-40 $25-28(2) $18-20 (2) - $78-88 $65-75Total capital(1) $70-80 $50-55 $26-30 - $146-165 $105-122

Corporate & Administrative (in millions) $18 $16

1. Refer to the “Cautionary non-GAAP Measures and Additional GAAP Measures” disclosure.2. Excludes capitalized exploration.3. For the purposes of calculating mine-site all-in sustaining costs at individual mine sites, the Company does not include an allocation of corporate and administrative and share based compensation expenses to the mine sites.4. Cost of sales includes mining and processing costs, royalties, and amortization expense

2018 Guidance 2017 GuidanceSustaining Capital Growth Capital Total Total

Development Projects (in millions)Turkey - $100 $100 $4Lynn Lake - $8 $8 $9La Yaqui Grande & Cerro Pelon - $13 $13 -Esperanza & Quartz Mountain - $2 $2 $3Total – Development Projects - $123 $123 $16

Capitalized Exploration (in millions)Island Gold - $12 $12 -Mulatos - $7 $7 $15Lynn Lake - $4 $4 $4Total – Capitalized Exploration - $23 $23 $19

Total Consolidated Budget $68-77 $224-234 $292-311 $140-157

32

Young-Davidson – Increasing Grade & Productivity

1 Cost of sales includes mining and processing costs, royalties and amortization.2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.3 Excludes Net Realizable Value (“NRV”) inventory adjustments. See associated MD&A for a full reconciliation.4 Excludes hydro rebate not attributable to Q4/15

Underground ramp up driving production higher and unit costs lower

Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17

Gold ounces produced 35,104 40,166 40,538 40,945 38,098 39,365 38,201 44,694 39,065 42,644 43,629 44,662 40,400 47,300 55,800 56,500

Cost of sales1 (US$/oz) $1,677 $1,625 $1,370 $1,211 $1,216 $1,298 $1,165 $986 $1,058 $1,182 $1,032 $1,077 $1,148 $1,113 $966 -

Total cash costs per oz. (2,3) $1,009 $871 $723 $719 $745 $697 $681 $617 $616 $738 $607 $667 $710 $677 $572 -

Mine-site AISC per oz.(2,3) $1,315 $1,144 $959 $912 $987 $1,008 $979 $980 $846 $965 $849 $926 $851 $895 $ 744 -

Underground mine

Tonnes mined per day 2,611 3,595 3,753 4,140 4,130 5,149 5,081 5,911 5,776 6,123 5,467 6,675 6,400 6,377 6,544

Grades (g/t) 2.8 3.3 3.1 3.0 3.0 2.6 2.6 2.6 2.6 2.4 2.8 2.4 2.6 2.6 2.9 -

Development metres 3,772 3,545 3,269 3,438 3,409 3,789 3,619 3,769 3,490 3,168 2,677 3,044 3,242 3,425 3,344 -

Unit UG mining costs (US$) $46 $45 $41 $39 $39 $33 $32 $294 $31 $34 $34 $32 $36 $33 $34 -

Unit UG mining costs (CAD$) $51 $49 $45 $44 $48 $41 $41 $384 $42 $44 $45 $42 $47 $44 $43 -

Mill processing facility

Tonnes processed per day 7,163 8,230 7,670 7,757 7,186 7,677 7,680 7,630 7,342 7,006 6,833 7,552 7,718 6,917 7,553

Grades (inc. OP stockpile) 1.8 2.2 1.9 2.0 2.0 2.0 1.9 2.2 2.1 2.1 2.4 2.2 2.2 2.5 2.7 -

Recoveries (%) 87% 88% 90% 88% 86% 88% 92% 91% 90% 92% 93% 90% 89% 92% 93% -

$20

$25

$30

$35

$40

$45

$50

1,000

2,000

3,000

4,000

5,000

6,000

7,000

Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17

Underground tonnes mined per day Unit UG mining costs (US$/t)

Und

ergr

ound

TPD

Uni

t UG

min

ing

cost

s (U

S$/t

)

33

2016 2017 2018 2019 2020

Commissioning of MCM shaft

Transition to 100% owner development

Ramp up to 7,000 tpd

Raise boring of lower NG shaft

Completion of MCM waste pass

• Shaft bottom infrastructure

• Northgate shaft –changeover to shaft bottom

• Northgate shaft hoisting from 8900L

Young-Davidson – Development Schedule

Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

Declining capital intensity

34

Young-Davidson – Long Section

Declining capital intensity

Higher underground mining rates – stronger production

Strong free cash flow growth

Development of lower mine infrastructure to support:

Productivity improvements –lower costs

35

Island Gold – 2017 Drilling Program

Significant Exploration Potential at Depth and to the East

36

Island Gold – Regional Exploration

37

Mulatos District

38

Kirazlı, Ağı Dağı & Çamyurt Economic Studies – 2017Feasibility Study - 2017 Preliminary Economic Assessment - 2017

Kirazlı Ağı Dağı ÇamyurtProduction Mine life (years) 5 6 4

Total gold production (ounces) 540,000 937,300 373,200Total silver production (ounces) 3,141,000 2,365,200 1,612,600

Average annual production (ounces)1

Gold 104,000 177,600 93,200Silver 617,300 444,200 403,000

Total ore mined (tonnes) 26,100,000 54,361,000 16,580,000Total waste mined (tonnes) 37,900,000 55,893,000 30,874,000Total material mined (tonnes) 64,000,000 110,254,000 47,454,000

Waste-to-ore ratio2 1.45 1.03 1.86

Average grade (grams per tonne)Gold 0.79 0.67 0.92Silver 12.0 5.4 6.3

Recovery (%)Gold 81% 80% 76%Silver 31% 25% 48%

Average throughput (tpd) 15,000 30,000 15,000

Operating CostsTotal cost per tonne of ore3 $8.49 $6.46 $14.03

Total cash cost (per ounce sold)4 $339 $374 $604Mine-site all-in sustaining cost (per ounce sold)4 $373 $411 $645

Capital Costs (millions)Pre-production capital expenditure $151.9 $250.3 $10.2Sustaining capital expenditure $18.1 $33.9 $9.4Reclamation costs (net of salvage value) $9.9 $28.8 $5.9

Total capital expenditure $179.8 $312.9 $25.5

Economic Analysis IRR (after-tax) 44.3% 38.7% 253.0%

NPV @ 0% discount rate (after-tax, millions) $299.3 $492.8 $173.8NPV @ 5% discount rate (after-tax millions) $222.9 $360.2 $111.4NPV @ 8% discount rate (after-tax, millions) $186.5 $297.6 $86.2

Gold price assumption (average, per ounce sold) $1,250 $1,250 $1,250Silver price assumption (average, per ounce sold) $16.00 $16.00 $16.00Exchange Rate (Turkish Lira/US Dollar) 2.90:1 2.90:1 2.90:1

1 Average annual production is based on five full years of production for Kirazlı and Ağı Dağı and excludes pre-commercial production2 Reported waste-to-ore ratio is over the life of mine. The waste-to-ore ratio during commercial production is 0.70:1 for Ağı Dağı and 1.19:1 for Kirazlı in the 2017 feasibility study3 Total unit cost per tonne of ore excludes silver as a by-product credit 4 Total cash costs and mine-site all-in sustaining costs include silver as a by-product credit

39

Lynn Lake Feasibility Study – 2017Feasibility Study Highlights - December 2017Production Mine life (years) 10.4

Total gold production (000 ounces) 1,495Total silver production (000 ounces) 1,263

Average annual gold production1

Years 1 to 6 (000 ounces) 170Years 1 to 10 (000 ounces) 143

Total ore mined (000 tonnes) 26,803Total waste mined (000 tonnes) 195,188Total material mined (000 tonnes) 221,991

Waste-to-ore ratio2 7.28

Average grade (grams per tonne)Gold 1.89Silver 2.99

Recovery (%)Gold (Average MacLellan and Gordon) 92%Silver (MacLellan only) 49%

Average mill throughput (tonnes per day (“tpd”)) 7,000

Operating CostsTotal cost per tonne of ore3 $36.06

Total cash cost (per ounce sold)4 $645 Mine-site all-in sustaining cost (per ounce sold)4 $745

Capital Costs (millions)Pre-production capital expenditure $338.0Sustaining capital expenditure $126.6Reclamation costs $21.1

Total capital expenditure $485.6

Base Case Economic Analysis IRR (after-tax) 12.5%

NPV @ 0% discount rate (millions, after-tax) $279.0 NPV @ 5% discount rate (millions, after-tax) $123.4

Gold price assumption (average, per ounce sold) $1,250Silver price assumption (average, per ounce sold) $16.00Exchange Rate (US Dollar/Canadian Dollar) 0.751. Average annual production excludes pre-commercial production2. Reported waste-to-ore ratio is over the life of mine and includes overburden as waste. The waste-to-ore ratio during commercial production is 7.06:1 3. Total unit cost per tonne (“t”) of ore includes royalties and silver as a by-product credit4. Total cash costs and mine-site all-in sustaining costs include royalties and silver as a by-product credit

40

2016 Proven and Probable Mineral Reserves

PROVEN AND PROBABLE GOLD RESERVES (as at December 31, 2016)Proven Reserves Probable Reserves Total Proven and Probable

Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces(000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's)

Young-Davidson - Surface 1,165 0.91 34 0 0.00 0 1,165 0.91 34Young-Davidson - Underground 14,851 2.80 1,336 27,203 2.65 2,317 42,054 2.70 3,653Total Young-Davidson 16,016 2.66 1,370 27,203 2.65 2,317 43,220 2.65 3,687Island Gold 573 8.68 160 1,978 9.31 592 2,551 9.17 752Mulatos Main Pits 4,173 1.02 137 21,847 0.87 613 26,020 0.90 750San Carlos Underground 72 13.06 30 34 8.64 9 106 11.65 40Stockpiles 7,129 1.38 317 0 0.00 0 7,129 1.38 317La Yaqui 470 1.48 22 1,469 1.37 65 1,939 1.40 87La Yaqui Grande 0 0.00 0 11,548 1.40 521 11,548 1.40 521Cerro Pelon 960 1.70 53 2,293 1.59 117 3,253 1.63 170Total Mulatos 12,804 1.36 559 37,191 1.11 1,325 49,995 1.17 1,885El Chanate - Open Pit 7,008 0.51 114 3,804 0.65 79 10,812 0.56 193El Chanate - Leach Pad Inv. 100 100Total El Chanate 7,008 0.95 214 3,804 0.65 79 10,812 0.84 293MacLellan 9,550 1.91 586 8,530 1.32 361 18,080 1.63 947Gordon 2,310 2.82 210 6,410 2.27 468 8,720 2.42 678Total Lynn Lake 11,860 2.09 796 14,940 1.73 829 26,800 1.89 1,625Agi Dagi 1,450 0.76 36 52,911 0.66 1,130 54,361 0.67 1,166Kirazli 700 1.25 28 25,404 0.78 637 26,104 0.79 665Total Turkey 2,150 0.93 64 78,315 0.70 1,767 80,465 0.71 1,831Alamos - Total 50,412 1.95 3,163 163,431 1.32 6,910 213,843 1.47 10,073

PROVEN AND PROBABLE SILVER MINERAL RESERVES (as at December 31, 2016)Proven Reserves Probable Reserves Total Proven and Probable

Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces(000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's)

La Yaqui 470 7.40 112 1,469 7.19 340 1,939 7.25 452La Yaqui Grande 0 0.00 0 11,548 19.94 7,403 11,548 19.94 7,403MacLellan (Lynn Lake) 9,550 5.01 1,539 8,530 3.79 1,039 18,080 4.43 2,578Ağı Dağı 1,450 6.22 290 52,911 5.39 9,169 54,361 5.41 9,459Kirazli 700 15.90 358 25,404 11.90 9,720 26,104 12.01 10,078Alamos - Total 12,170 5.88 2,299 99,862 8.62 27,671 112,032 8.32 29,970

41

2016 Total Measured and Indicated Mineral ResourcesMEASURED AND INDICATED GOLD MINERAL RESOURCES (as at December 31, 2016)

Measured Resources Indicated Resources Total Measured and IndicatedTonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces(000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's)

Young-Davidson - Surface 496 1.13 18 1,242 1.28 51 1,739 1.24 69Young-Davidson - Underground 5,876 3.33 629 4,916 3.47 548 10,792 3.39 1,177Total Young-Davidson 6,373 3.16 647 6,158 3.03 599 12,531 3.09 1,246Island Gold 34 4.94 5 446 6.01 86 479 5.94 91Mulatos 8,270 1.24 330 64,221 1.08 2,224 72,491 1.10 2,554San Carlos UG 196 6.11 39 362 4.70 55 558 5.20 93La Yaqui 0 - 0 1,108 1.91 68 1,108 1.91 68Cerro Pelon 117 2.75 10 455 2.52 37 572 2.56 47Carricito 58 0.82 2 1,297 0.82 34 1,355 0.83 36Total Mulatos 8,641 1.37 381 67,443 1.12 2,418 76,084 1.14 2,798El Chanate 1,092 0.55 19 3,323 0.69 74 4,415 0.66 93MacLellan 2,110 1.86 126 2,240 1.24 89 4,350 1.57 215Gordon 10 1.72 0 450 1.96 28 460 1.96 29Burnt Timber 0 - 0 1,021 1.40 46 1,021 1.40 46Linkwood 0 - 0 984 1.16 37 984 1.17 37Total Lynn Lake 2,120 1.86 126 4,695 1.32 200 6,815 1.49 327Esperanza 19,226 1.01 622 15,126 0.95 462 34,352 0.98 1,083Ağı Dağı 553 0.44 8 34,334 0.46 510 34,887 0.46 518Kirazli 118 0.50 2 5,848 0.43 80 5,966 0.43 82Çamyurt 513 1.00 16 17,208 0.89 492 17,721 0.89 508Total Turkey 1,184 0.68 26 57,390 0.59 1,082 58,574 0.59 1,108Quartz Mountain 214 0.95 7 11,942 0.87 333 12,156 0.87 339Alamos - Total 38,883 1.47 1,833 166,523 0.98 5,253 205,406 1.07 7,087

MEASURED AND INDICATED SILVER MINERAL RESOURCES (as at December 31, 2016)Measured Resources Indicated Resources Total Measured and Indicated

Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces(000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's)

La Yaqui Grande 0 0.00 0 1,108 15 523 1,108 15 523Esperanza 19,226 7.25 4,482 15,126 9.16 4,455 34,352 8.09 8,936MacLellan (Lynn Lake) 2,110 5.34 362 2,240 4.24 305 4,350 4.77 667Ağı Dağı 553 1.59 28 34,334 2.19 2,417 34,887 2.18 2,445Kirazli 118 2.73 10 5,848 2.17 408 5,966 2.18 418Çamyurt 513 5.63 93 17,208 6.15 3,404 17,721 6.14 3,497Alamos - Total 22,520 6.87 4,975 75,864 4.72 11,512 98,384 5.21 16,486

42

2016 Total Inferred Mineral Resources

INFERRED GOLD MINERAL RESOURCES (as at December 31, 2016)Tonnes Grade Ounces(000's) (g/t Au) (000's)

Young-Davidson - Surface 31 0.99 1Young-Davidson - Underground 3,524 2.76 313Total Young-Davidson 3,555 2.75 314Island Gold 3,042 10.18 996Mulatos 8,935 0.92 265San Carlos UG 162 4.93 26La Yaqui 174 1.39 8Cerro Pelon 109 1.23 4Carricito 900 0.74 22Total Mulatos 10,280 0.98 325El Chanate 112 0.71 3MacLellan 750 1.62 39Gordon 620 1.30 26Burnt Timber 23,438 1.04 781Linkwood 21,004 1.16 783Total Lynn Lake 45,812 1.11 1,629Esperanza 718 0.80 18Ağı Dağı 16,760 0.46 245Kirazli 5,689 0.59 108Çamyurt 2,791 0.95 85Total Turkey 25,240 0.54 438Quartz Mountain 39,205 0.91 1,147Alamos - Total 127,965 1.18 4,869

INFERRED SILVER MINERAL RESOURCES (as at December 31, 2016)Tonnes Grade Ounces(000's) (g/t Ag) (000's)

La Yaqui Grande 174 5.55 31Esperanza 718 15.04 347MacLellan 750 2.80 67Ağı Dağı 16,760 2.85 1,534Kirazli 5,689 8.96 1,638Çamyurt 2,791 5.77 518Alamos - Total 26,882 4.78 4,135

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Notes to Mineral Reserve and Resource Estimates

Mineral ResourcesJeffrey Volk, CPG, FAusIMM Director - Reserves and Resource, Alamos Gold Inc. Young-Davidson, El Chanate, San Carlos U/G, Lynn Lake

Marc Jutras, P.Eng Principal, Ginto Consulting Inc. Mulatos Pits, Cerro Pelon, La Yaqui, Carricito, Esperanza, Ağı Dağı, Kirazlı, Çamyurt, Quartz Mountain

Raynald Vincent P.Eng. M.P.M. Chief Geologist, Island Gold Island Gold

Mineral ReservesChris Bostwick, FAusIMM VP Technical Services, Alamos Gold Inc. Young-Davidson, El Chanate, San Carlos Underground, Lynn Lake

Herb Welhener, SME-QP VP, Independent Mining Consultants Inc. Mulatos Pits, Cerro Pelon, La Yaqui, Ağı Dağı, KirazlıLéon Grondin Leblanc, P.Eng. Chief Engineer, Island Gold Island Gold

Resources ReservesGold Price Cutoff Gold Price Cutoff Met Recovery

Mulatos:Mulatos Main Open Pit $1,400 0.5 $1,250 see notes >50%San Carlos Underground $1,400 2.5 $1,250 3.27 70%Cerro Pelon $1,400 0.5 $1,250 see notes 75%La Yaqui $1,400 0.5 $1,250 see notes 75%Carricito $1,400 0.3 n/a n/a >50%

Young-Davidson - Surface $1,400 0.5 $1,250 0.5 91%Young-Davidson - Underground $1,400 1.3 $1,250 1.9 91%Island Gold CAD $1,500 4.5 CAD 1,500 4.0-4.3 96.5%El Chanate $1,400 0.15 $1,250 0.15 30-65%Lynn Lake (MacLellan) $1,400 0.42 $1,250 0.47 91-92%Lynn Lake (Gordon) $1400 0.62 $1,200 0.69 89-94% Lynn Lake (Burnt Timber and Linkwood) $1,555 0.4 n/a n/a 89-92%Esperanza $1,400 0.4 n/a n/a 60-72%Ağı Dağı $1,400 0.2 $1,250 see notes 80%Kirazlı $1,400 0.2 $1,250 see notes 81%Çamyurt $1,400 0.2 n/a n/a 78%Quartz Mountain $1,400 0.21 Oxide, 0.6 Sulfide n/a n/a 65-80%

Qualified Persons:

Chris Bostwick, FAusIMM, Alamos Gold’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this presentation. Chris Bostwick is a Qualified Person within the meaning of Canadian Securities Administrator’s National Instrument 43-101 (“NI 43-101”). The Qualified Persons for the National Instrument 43-101 compliant mineral reserve and resource estimates are detailed in the following table.

Notes to Mineral Reserve and Resource Tables:

• The Company’s Mineral Reserves and Mineral Resource as at December 31, 2016 are classified in accordance with the Canadian Institute of Mining Metallurgy and Petroleum’s “CIM Standards on Mineral Resources and Reserves, Definition and Guidelines” as per Canadian Securities Administrator’s NI 43-101 requirements.

• Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.• Mineral Resources are exclusive of Mineral Reserves.• Mineral Reserve cut-off grade for the Mulatos Mine, the Cerro Pelon Pit, the La Yaqui Pit, the Kirazlı Pit and the Ağı Dağı Pit are determined as a net of process value of $0.10 per tonne for each model

block• All Measured, Indicated and Inferred Mineral Resources are pit constrained with the exception of those outside the Mulatos Main Pits on the Mulatos property which have no economic restrictions and

are tabulated by gold cut-off grade.

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Scott K. Parsons, CFAVP, Investor Relations416.368.9932 x 5439

sparsons@alamosgold.com