Agnico Eagle renews normal course issuer bid

Agnico Eagle Mines has received approval from the Toronto Stock Exchange of Agnico Eagle’s notice of intention to renew its normal course issuer bid. Under the NCIB, Agnico Eagle may purchase for cancellation, on the open market at its discretion, during the period commencing on May 4, 2023 and ending on the earlier of May 3, 2024 and the completion of purchases under the NCIB, up to the lesser of: 24,718,919 common shares of Agnico Eagle, which is 5% of the issued and outstanding Common Shares; and that number of Common Shares that can be purchased by Agnico Eagle under the NCIB for an aggregate purchase price, excluding commissions, of not more than $500M, subject to the normal terms and limitations of such bids. Based on the closing share price of $56.59 on April 27, 2023, 8,835,483 Common Shares would be purchasable under the NCIB, representing approximately 1.79% of the issued and outstanding Common Shares as of April 27, 2023. As of April 27, 2023, Agnico Eagle had 494,378,388 issued and outstanding Common Shares. The NCIB will be funded using Agnico Eagle’s existing cash resources, and any Common Shares repurchased by Agnico Eagle under the NCIB will be cancelled. Agnico Eagle has established an automatic share purchase plan in connection with its NCIB to facilitate the purchase of Common Shares during times when Agnico Eagle would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions or self-imposed black-out periods.