Raymond James 35th Annual Institutional Investors Conference

agnicoeagle.com

Corporate Update

Raymond James 35th Annual Institutional Investors Conference March 2014

Sean Boyd President and CEO

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FORWARD LOOKING STATEMENTS

The information in this document has been prepared as at February 25, 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 include without limitation: 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. 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 Company’s Annual Report on Form 20-F for the year ended December 31, 2012, as well as the Company’s other filings with the Canadian Securities Administrators and the U.S. Securities and Exchange Commission. The Company does not intend, and does not assume any obligation, to update these forward-looking statements and information. Alain Blackburn, a Qualified Person and the Company’s Senior Vice-President, Exploration, reviewed the technical information disclosed herein. For a detailed breakdown of the Company’s reserve and resource position see the February 12, 2014 press release on the Company’s website. That press release also lists the Qualified Persons for each project.

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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 of gold produced” 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 and minesite costs per tonne 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 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 notes to the financial statements included in the Company’s Annual Information Form and Annual Report on Form 20-F, for the year ended December 31, 2012, as well as the Company’s other filings with the Canadian Securities Administrators 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.

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2013 HIGHLIGHTS Record annual production at lower costs

• Record annual gold production of 1.10M oz, vs. guidance of 1.06M oz

– 2013 total cash costs at $672/oz, below $690/oz guidance

– 2013 all-in sustaining cost at $952/oz, below guidance of $1,025/oz

• Record annual gold production at Meadowbank – 430,613 oz at a total cash cost of $774/oz

• Commercial production declared at Goldex and commissioning on track at La India

• Lower gold price environment leads to : – Non-cash after-tax impairment charge of $436M at Meadowbank,

Meliadine and Lapa – Quarterly dividend reduced to $0.08 per share to ensure financial

flexibility – Average reserve grade increased by 11% to 3.5 g/t despite 0.7 Moz

reduction in reserves at year end 2013 (before production)

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2013 OPERATING RESULTS Record production and improved cost performance

Laronde, 14% Lapa, 10% Goldex, 1%

Kittila, 16%

Pinos Altos, 24%

Creston Mascota, 3%

Meadowbank, 32%

2013 Total Operating Margin - $713M

Gold 92% Silver

6%

Base Metals 2%

2013 Revenue By Metal

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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

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FINANCIAL RESULTS

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All amounts are in US$ Q4 2013 Q4 2012 Full Year 2013 Full Year 2012

unless otherwise indicated

Revenues (millions) $437 $449 $1,638 $1,918

Earnings (millions) ($453)* $83 ($407)* $311

Earnings per share (basic) ($2.61)* $0.48 ($2.35)* $1.82

Cash provided by operating activities (millions) $136 $106 $438 $696

Payable Production Gold (ounces) 322,443 236,535 1,099,335 1,043,811

Silver (ounces in thousands) 1,093 1,196 4,623 4,646

Zinc (tonnes) 4,472 8,722 19,814 38,637

Copper (tonnes) 1,232 814 4,835 4,126

Total cash costs (gold, $/oz) $623 $769 $672 $640

*Including non-cash after-tax impairment loss of $436M, and other non-recurring non-cash items totaling a further $61 million

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FINANCIAL POSITION Cash balances, anticipated cash flows, and available credit provide financial 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

LONG TERM DEBT $1.0 Billion

AVAILABLE CREDIT FACILITIES $1.0 Billion

COMMON SHARES OUTSTANDING, BASIC (FY 2013 weighted average, millions) 172.9

COMMON SHARES OUTSTANDING, FULLY DILUTED (FY 2013 weighted average, millions) 172.9

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INCREASING PRODUCTION AND IMPROVING PRODUCTIVITY Productivity and cost saving initiatives delivering results at each operation

8

0

5

10

15

20

25

30

$100

$104

$108

$112

$116

$120

Q4/12 Q1/13 Q2/13 Q3/13 Q4/13

Production (koz)Cost/tonne

Lapa Operating Metrics

0

20

40

60

80

100

120

140

160

$70

$75

$80

$85

$90

$95

$100

Q4/12 Q1/13 Q2/13 Q3/13 Q4/13


Meadowbank Operating Metrics

0

10

20

30

40

50

60

$64

$68

$72

$76

$80

Q4/12 Q1/13 Q3/13 Q4/13


Kittila Operating Metrics*

0

10

20

30

40

50

60

70

$30

$34

$38

$42

$46

$50

Q4/12 Q1/13 Q2/13 Q3/13 Q4/13


Pinos Altos Operating Metrics

0

10

20

30

40

50

60

$80

$85

$90

$95

$100

$105

$110

Q4/12 Q1/13 Q2/13 Q3/13 Q4/13


Laronde Operating Metrics

*No production in Q2/13 due to scheduled shutdown

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ESTIMATED PAYABLE GOLD PRODUCTION (2014 – 2016)

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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

Estimated Byproduct Production – 2014

Ag Production Zn Production

(tonnes) Cu Production

(tonnes) 000’s oz Northern Business LaRonde 1,272 7,461 6,023 Meadowbank 72 Northern Total 1,344 7,461 6,023 Southern Business Pinos Altos 2,075 - - Creston Mascota 87 - - La India 117 - - Southern Total 2,279 - - Total 3,623 7,461 6,023

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MODERATE, ACHIEVABLE PRODUCTION GROWTH Low political risk, mining-friendly jurisdictions

900,000

950,000

1,000,000

1,050,000

1,100,000

1,150,000

1,200,000

1,250,000

1,300,000

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

Actual Estimate

Payable Gold Production Profile (oz)

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PROJECTED CAPITAL SPENDING

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2008A 2009A 2010A 2011A 2012A 2013A 2014E

Actual Estimate

Capital Expenditures (US$ 000’s)

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PROVEN AND PROBABLE RESERVES Reserves remain robust at $1200 gold – average grade increased by 11% to 3.5 g/t gold

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- 1,099

963

-440

-1,240

18,681

16,865

10,000

11,000

12,000

13,000

14,000

15,000

16,000

17,000

18,000

19,000

20,000

ReservesDec 2012

Production 2013(Oz Insitu)

DrillingImpact

New Mining Plan Lower Metal Prices ReservesDec 2013

Au o

z ('0

00)

Proven & Probable Reserves as December 31, 2013

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MANAGING TO THE LOWER GOLD PRICE

• Record production in 2013 helps offset lower commodity price impact

• Continued higher grades at Meadowbank expected to drive strong 1H 2014

production

• Cost optimization programs lead to lower minesite costs per tonne at all assets

• 16% production growth forecast through 2016

• Reserve quality improves at most assets (average gold grade up11%) despite

lower gold price assumption

• Reduced dividend payout provides financial flexibility to reinvest in the business

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APPENDIX

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NORTHERN BUSINESS

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MEADOWBANK Record production in 2013

• In 2013, reserve grade at Meadowbank improved 16% to 3.24 g/t gold due to reinterpretation of Goose and Portage block models

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

• With increased grades and accelerated stripping at Goose, Meadowbank expected to have strong first half production in 2014

P&P GOLD RESERVES (million oz) 1.8

AVERAGE GOLD RESERVE GRADE (g/t) 3.2

Indicated gold resource (million oz) (7.3 M tonnes @ 3.28 g/t) 0.8

Inferred gold resource (million oz) (3.3 M tonnes @ 3.96 g/t) 0.4

Estimated LOM (years) 4

See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources.

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LARONDE In 2014, 80% of ore expected to be sourced from deeper higher grade zones

• 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

• In 2015, new ore conveyor system expected to be installed in the deeper portion of the mine – should help further reduce costs and congestion

• Reserve grade increased from 4.5 g/t to 5 g/t gold







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FINLAND - KITTILA Long life asset with further expansion potential

• Record annual mill recovery of 90.2% in 2013

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

• Production shaft and Rimpi Zone development under consideration – shaft could provide operational savings and sustain long-term production at higher throughput levels



Measured & Indicated gold resource (million oz) (11.0 M tonnes @ 2.79 g/t)

1.0




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GOLDEX Commercial production declared on the M and E satellite zones in Q4 2013

• 19,305 oz gold produced during fourth quarter 2013, exceeding 15,000 oz guidance

• Throughput expected to increase to 6,000 tpd in 2015

• Development activities will begin on the MX and E2 satellite zones in 2014 with exploration activities to continue on other zones

• Newly acquired Akasaba West deposit could provide future mill feed to Agnico’s Abitibi facilities



Measured & Indicated gold resource (million oz) (30.1 M tonnes @ 1.96 g/t) 1.9




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LAPA Strong cost containment and steady production in 2013

• Improved minesite costs due to ongoing cost saving measures

• Steady state operation

• Positive exploration results in the Zulapa area could extend the mine life







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• 2014 capital expenditures forecast to be $47 million

– Main focus on ramp development

– Program also includes in-fill drilling on Tiriganiaq and Wesmeg/ Normeg zones

• Reserve grade increased from 7.0 g/t to 7.4 g/t gold

• Encouraging exploration results from Tiriganiaq, Normeg, Pump South, and F Zones in 2013

• Updated technical study on track for Q4 2014

MELIADINE Ramp extension in 2014 provides development flexibility


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SOUTHERN BUSINESS

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MEXICO – PINOS ALTOS & CRESTON MASCOTA Strong mill performance at Pinos Altos continued in 2013

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

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

• At Pinos Altos, evaluation continues on a number of potential satellite deposits that could enhance production and cost profile







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LA INDIA Commercial production expected in Q1 2014

• In 2013 mine reported 3,180 oz pre-commercial gold production

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

• Further work planned in 2014 to better define mineral domains of known sulfide mineralization



Measured & Indicated gold resource (million oz) (56.2 M tonnes @ 0.38 g/t)

0.7




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GOLD AND SILVER RESERVES AND RESOURCES December 31, 2013

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

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Gold Tonnes (000’s) Gold (g/t) Gold (ounces)

(000’s)

North Proven & Probable 93,618 4.60 13,841

South Proven & Probable 55,800 1.69 3,024

Total Reserves 149,418 3.51 16,865

North Measured & Indicated Resources 86,869 2.96 8,276

South Measured & Indicated Resources 70,171 0.61 1,378

Total Measured & Indicated Resources 157,040 1.91 9,654

North Inferred Resources 69,674 3.77 8,434

South Inferred Resources 99,795 0.53 1,686

Total Inferred Resources 169,470 1.86 10,121

Silver Tonnes (000’s) Silver (g/t) Silver (ounces)

(000’s)


South Proven & Probable 28,703 64.32 59,354

Total Reserves 52,830 43.89 74,546

North Measured & Indicated Resources 4,242 32.53 4,436

South Measured & Indicated Resources 13,935 33.63 15,066

Total Measured & Indicated Resources 18,177 33.37 19,502


South Inferred Resources 17,707 26.28 14,962


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COPPER, ZINC AND LEAD RESERVES AND RESOURCES December 31, 2013

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

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Copper Tonnes (000’s)

Copper (%)

Copper (tonnes)


South Proven & Probable

Total Reserves 24,127 0.25 59,519

North Measured & Indicated Resources

4,242 0.16 6,981

South Measured & Indicated Resources

Total Measured & Indicated Resources

4,242 0.16 6,981


South Inferred Resources


Zinc Tonnes (000’s)

Zinc (%)

Zinc (tonnes)



Total Reserves 24,127 0.67 161,108


4,242 1.61 68,127



4,242 1.61 68,127


South Inferred Resources Total Inferred Resources 10,536 0.55 58,463

Lead Tonnes (000’s)

Lead (%)

Lead (tonnes)



Total Reserves 24,127 0.04 9,964


4,242 0.16 6,793



4,242 0.16 6,793


South Inferred Resources


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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 press release, 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 20-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.

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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 above, which may be found at www.sedar.com. Other important operating information can be found in the Company’s Form 20-F and the news release dated February 12, 2014. 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 Quebec and qualified persons as defined by NI 43-101.

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Trading Symbol: AEM on TSX & NYSE

Investor Relations: 416-847-8665 [email protected]

Raymond James 35th Annual Institutional Investors Conference

Investor Relations

Transcript of Raymond James 35th Annual Institutional Investors Conference