An anonymous director reports

AGNICO EAGLE ANNOUNCES INVESTMENT IN CADILLAC MINES CORPORATION

Agnico Eagle Mines Ltd. has entered into a subscription agreement dated July 23, 2026, with Cadillac Mines Corp., pursuant to which Agnico Eagle agreed to acquire 8,696,000 common shares of Cadillac at a price of $6.90 per common share for total consideration of $60,002,400.00. The private placement is subject to certain closing conditions, including the closing of Cadillac's initial public offering of common shares (the IPO) pursuant to Cadillac's final long form base PREP prospectus dated July 23, 2026. The private placement is expected to close on or about Aug. 5, 2026.

Prior to entering into the subscription agreement, Agnico Eagle owned 22,821,028 common shares, representing approximately 9.70 per cent of the issued and outstanding common shares on a non-diluted basis. On closing of the private placement, Agnico Eagle is expected to own 31,517,028 common shares, representing approximately 11.09 per cent of the issued and outstanding common shares on a non-diluted basis after giving effect to the IPO (assuming the issuance of all common shares qualified thereunder) and all other security issuances completed by Cadillac concurrently with the private placement.

Pursuant to a subscription agreement dated July 25, 2023, between Agnico Eagle and Cadillac, Agnico Eagle is entitled to certain rights, including the right to participate in equity financings in order to maintain its pro rata ownership interest in Cadillac at the time of such financing.

On closing of the IPO, Agnico Eagle will enter into a lock-up agreement in favour of the underwriters of the IPO, pursuant to which it will agree that it will not, directly or indirectly, without the prior written consent of the underwriters: (a) offer, sell, pledge, or otherwise dispose of any common shares or any securities convertible into or exercisable or exchangeable for common shares (collectively, the locked-up securities); (b) make any short sale, engage in any hedging, or enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the locked-up securities; or (c) agree to or publicly announce any intention to do any of the foregoing, in each case, for a period of 180 days following the closing date of the IPO, subject to certain limited exceptions.

Agnico Eagle is acquiring the common shares as part of its strategy of acquiring strategic positions in prospective opportunities with high geological potential. Depending on market conditions, strategic priorities and other factors, Agnico Eagle may, from time to time, acquire additional common shares or other securities of Cadillac or dispose of some or all of the common shares or other securities of Cadillac that it owns at such time.

About Agnico Eagle Mines Ltd.

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second-largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. Agnico Eagle is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

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