AGNICO EAGLE MINES LTD

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The Company believes that it does not have any material contracts as defined in National Instrument 51-102 – Continuous Disclosure Obligations. Below is a brief description of certain financial contracts involving the Company (none of which are considered material to the Company).

Credit Facility

On February 12, 2024, the Company replaced its $1.2 billion unsecured revolving pre-existing credit facility with a new $2.0 billion unsecured revolving Credit Facility with a group of financial institutions. On the same day, the Company drew $200.0 million on the Credit Facility and used the proceeds of such draw to repay the pre-existing credit facility and such facility was terminated. The Credit Facility provides for an uncommitted accordion feature that permits the Company to request an increase in the principal amount available under the facility by up to $1.0 billion. No increase to the principal amount available under the Credit Facility is permitted under the accordion feature unless one or more lenders agree to increase their commitments or a new lender agrees to make a commitment under the Credit Facility. The Credit Facility matures and all indebtedness thereunder is due and payable on February 12, 2029. The Company, with the consent of lenders representing greater than 50% of the aggregate commitments under the Credit Facility, may extend the term of such consenting lenders’ commitments under the facility to a date that is no later than the fifth anniversary of the effective date of such extension.

The Credit Facility is available in US dollars through Secured Overnight Financing Rate and base rate advances, or in Canadian dollars through Canadian Overnight Repo Rate Average and prime rate advances, priced at the applicable rate plus a margin that ranges from 0.00% to 2.00%. The Credit Facility also provides for the issuance of letters of credit, priced at a rate that ranges from 0.6% to 2.00%. The lenders under the Credit Facility are each paid a standby fee at a rate that ranges from 0.09% to 0.25% of the undrawn portion of the Credit Facility. In each case, the applicable margin, letter of credit fees, or standby fees vary depending on the Company’s credit rating.

The Company’s payment and performance obligations under the Credit Facility are not guaranteed by any of its subsidiaries. The Company is required to provide guarantees from certain of its subsidiaries if any existing indebtedness of the Company benefits from guarantees and the Company no longer maintains an investment grade credit rating, or if the Company incurs new indebtedness for borrowed money and provides guarantees of such new indebtedness from any of its subsidiaries. The Credit Facility contains customary covenants, limiting certain actions of the Company and its material subsidiaries, and customary events of default for a borrower with the Company’s credit profile. The Company is also required to maintain a total net debt to capitalization ratio below a specified maximum value.

As at March 12, 2026, there was approximately $24 million in the aggregate outstanding under the Credit Facility (including under letters of credit).

Note Purchase Agreements

The Company enters into note purchase agreements with certain institutional investors from time to time. On April 7, 2020, the Company entered into a note purchase agreement with certain institutional investors, providing for the issuance of notes consisting of $100 million 2.78% Series A senior notes due 2030 and $100 million 2.88% Series B senior notes due 2032 (the “2020 Note Purchase Agreement”). As of the date of this AIF, the only outstanding notes are those issued by the Company under the 2020 Note Purchase Agreement.

Payment and performance of the Company’s obligations under the 2020 Note Purchase Agreement and the notes issued pursuant thereto are guaranteed by certain of the Company’s subsidiaries (together with the Company, each an “Obligor”).

The 2020 Note Purchase Agreement contains restrictive covenants that limit, among other things, the ability of an Obligor to:

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enter into transactions with affiliates other than the Obligors, except on a commercially reasonable basis upon terms no less favourable to the Obligor than would be obtainable in a comparable arm’s length transaction;

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amalgamate or otherwise transfer all or substantially all of its assets;

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carry on business other than those related to mining or a business ancillary or complementary to mining;

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create liens on its existing or future assets, other than permitted liens;

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incur subsidiary indebtedness where the relevant subsidiary is an obligor; and

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make sales or other dispositions of material assets.

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The Company is also required to maintain a total net debt to EBITDA ratio below a specified maximum value. Events of default under the 2020 Note Purchase Agreement includes, among other things:

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the failure to pay principal or make whole amounts when due and payable or interest, fees or other amounts payable within five business days of such amounts becoming due and payable;

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the breach by the Company of any other term or covenant that is not cured within 30 days after the earlier of written notice of the breach having been given to the Company or actual knowledge of the breach is obtained;

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the finding that any representation or warranty made by an Obligor was false or incorrect in any material respect on the date as of which it was made;

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a default under any other indebtedness of the Obligors if the effect of such default is to accelerate, or to permit the acceleration of, the due date of such indebtedness in an aggregate amount of $50 million or more; and

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various events relating to the bankruptcy or insolvency or winding-up, liquidation or dissolution or cessation of business of any Obligor.

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The 2020 Note Purchase Agreement provides that, upon the occurrence of certain events of default, the notes automatically become due and payable without any further action.

In addition, the 2020 Note Purchase Agreement contains a “Most Favored Lender” clause which acts to incorporate into the 2020 Note Purchase Agreement any grace periods upon an event of default that are shorter in the Credit Facility than in the 2020 Note Purchase Agreement. The 2020 Note Purchase Agreement’s “Most Favored Lender” clauses also provide that if the terms of the Credit Facility or any debt securities issued by the Company in the future contain a tangible net worth covenant, the covenant will be deemed incorporated by reference into the 2020 Note Purchase Agreement.