AGNICO EAGLE ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

(All amounts expressed in U.S. dollars unless otherwise noted) TORONTO , May 4, 2026 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that further to its news release dated April 30, 2026, it has received approval from the Toronto Stock Exchange (the "TSX") of Agnico Eagle's notice of intention to renew its normal course issuer bid (the "NCIB"). Under the NCIB, Agnico Eagle may purchase for cancellation, on the open market at its discretion, during the period commencing on May 6, 2026 and ending on the earlier of May 5, 2027 and the completion of purchases under the NCIB, up to the lesser of: (i) 25,024,469 common shares of Agnico Eagle ("Common Shares"), which is 5% of the issued and outstanding Common Shares; and (ii) 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 $2,000,000,000, subject to the normal terms and limitations of such bids. Based on the closing share price of $188.21 on April 30, 2026, 10,626,428 Common Shares would be purchasable under the NCIB, representing approximately 2.12% of the issued and outstanding Common Shares as of April 30, 2026. As of April 30, 2026, Agnico Eagle had 500,489,369 issued and outstanding Common Shares. Daily purchases on the TSX under the NCIB will be limited to 264,928 Common Shares, other than purchases made pursuant to the block purchase exception, which represents 25% of the average daily trading volume of 1,059,711 on the TSX for six months ending March 31, 2026. The actual number of Common Shares which may be purchased under the NCIB and the timing of any such purchases will be determined by the management of Agnico Eagle, subject to applicable law and the rules of the TSX. Purchases under the NCIB are expected to be made through the facilities of the TSX, the New York Stock Exchange and alternative trading systems in Canada or the United States, at prevailing market prices. 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 believes that its NCIB is a flexible and complementary tool that, together with its quarterly dividend, is part of Agnico Eagle's overall capital allocation program and generates value for shareholders. Decisions regarding any future repurchases will depend on certain factors, including market conditions and share price. Agnico Eagle may elect to suspend or discontinue share repurchases at any time, in accordance with applicable laws. 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. Before entering a black-out period, Agnico Eagle may, but is not required to, instruct the broker to make purchases under the NCIB based on parameters set by Agnico Eagle in accordance with the share purchase plan, TSX rules and applicable securities laws. The plan has been pre-cleared by the TSX and will be effective May 10, 2026. Under Agnico Eagle's prior NCIB, which commenced on May 4, 2025 and ended on May 3, 2026, Agnico Eagle obta