AGNICO EAGLE ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

Rhea-AI Summary

Agnico Eagle (NYSE: AEM) announced TSX approval to renew its normal course issuer bid (NCIB) from May 6, 2026 to May 5, 2027. The company may repurchase up to the lesser of 25,024,469 common shares (5% of shares outstanding) or $2,000,000,000 aggregate purchase price.

Based on the April 30, 2026 close of $188.21, up to 10,626,428 shares (≈2.12% of outstanding) would be purchasable. Daily TSX purchases are limited to 264,928 shares; purchases funded from existing cash; repurchased shares will be cancelled. An automatic purchase plan is effective May 10, 2026.

Positive

• Authorization up to $2.0B for share repurchases
• NCIB covers up to 5% (25,024,469) of issued shares
• Repurchases funded from existing cash resources
• Automatic share purchase plan pre-cleared and effective May 10, 2026

Negative

• Based on $188.21 close, purchasable amount limited to 10,626,428 shares (~2.12% outstanding)
• Daily TSX purchase limit of 264,928 shares may constrain execution speed
• Under prior NCIB, only 4,472,799 shares were repurchased out of a 25,174,240 authorization

News Market Reaction – AEM

-1.98%

-1.98% Session close to close

In the May 4 session, AEM declined 1.98%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement renews Agnico Eagle’s NCIB, allowing repurchases of up to 25,024,469 shares or an ...

Analysis

This announcement renews Agnico Eagle’s NCIB, allowing repurchases of up to 25,024,469 shares or an aggregate $2,000,000,000, funded from existing cash resources. It follows strong Q1 2026 results and recent acquisitions in Finland, continuing a pattern of combining growth investments with capital returns. The prior NCIB saw 4,472,799 shares repurchased at a weighted-average price of about $162.83. Investors may watch the actual pace of buybacks, daily TSX limits of 264,928 shares, and how sector conditions affect management’s repurchase decisions.

Key Figures

NCIB share cap: 25,024,469 shares NCIB dollar cap: $2,000,000,000 Reference share price: $188.21 +5 more

8 metrics

NCIB share cap 25,024,469 shares Maximum under NCIB (5% of issued and outstanding)

NCIB dollar cap $2,000,000,000 Aggregate purchase price limit excluding commissions

Reference share price $188.21 Closing price on April 30, 2026 used in NCIB example

Shares purchasable at $188.21 10,626,428 shares Illustrative NCIB capacity (~2.12% of shares) at that price

Issued & outstanding 500,489,369 shares Common Shares outstanding as of April 30, 2026

Daily NCIB limit 264,928 shares TSX daily purchase cap (25% of 6‑month ADV)

TSX average daily volume 1,059,711 shares Six months ending March 31, 2026

Prior NCIB repurchases 4,472,799 shares at ~$162.8272 Bought between May 4, 2025 and May 3, 2026

Historical Context

5 past events · Latest: Apr 30 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 30	Q1 2026 earnings	Positive	-2.5%	Record quarterly margins, high realized gold price, strong net income and FCF.
Apr 20	Acquisition announcement	Positive	-1.7%	Agreement to acquire Rupert Resources with premium share-based consideration and CVRs.
Apr 20	Strategic consolidation	Positive	-1.7%	Three deals to consolidate 2,492 km² in Finland targeting integrated regional hub.
Mar 30	Financing & alliance	Positive	-0.8%	Equity investment and warrants in Cascadia plus earn-in and strategic alliance.
Mar 30	Results schedule	Neutral	-0.8%	Notice of Q1 2026 results release, conference call, and AGM logistics.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent fundamentally positive announcements, including strong Q1 results and accretive acquisitions, were followed by negative price reactions, indicating a pattern of short-term sell-offs on good news.

Recent Company History

Over the last few months, Agnico Eagle has combined strong financial performance with active portfolio expansion. On Apr 30, 2026, Q1 2026 results showed record operating margins and $1,695M net income, yet the stock fell 2.47%. Strategic moves in Finland, including the Rupert and Aurion deals and a broader land consolidation announced on Apr 20, 2026, also coincided with share-price declines of about 1.69%. A March partnership with Cascadia Minerals and routine event notices had milder market impacts. Today’s NCIB renewal fits a continued capital-return and growth narrative despite recent negative price reactions.

Key Terms

normal course issuer bid, automatic share purchase plan

2 terms

normal course issuer bid financial

"it has received approval from the Toronto Stock Exchange ... to renew its normal course issuer bid"

A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.

automatic share purchase plan financial

"Agnico Eagle has established an automatic share purchase plan in connection with its NCIB"

An automatic share purchase plan is a pre-arranged agreement that allows investors to buy a set amount of a company's shares at regular intervals without needing to make individual decisions each time. It helps investors steadily build their holdings over time, much like setting a recurring deposit into a savings account, making investing more disciplined and less influenced by short-term market fluctuations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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(All amounts expressed in U.S. dollars unless otherwise noted)

TORONTO, May 4, 2026 /PRNewswire/ - 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 obtained approval to purchase up to a total of 25,174,240 Common Shares, of which 4,472,799 Common Shares were purchased through the facilities of the TSX and the New York Stock Exchange at a weighted-average price of approximately $162.8272 (excluding commissions) per Common Share.

About Agnico Eagle

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.

Forward-Looking Statements

The information in this news release has been prepared as at May 4, 2026. Certain statements in this news release, referred to herein as "forward-looking statements", 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. These forward-looking statements can be identified by the use of words such as "believes", "expected", "may", "will" or similar terms. In particular, such forward-looking statements include, but are not limited to, statements relating to Agnico Eagle's intention to commence the NCIB and the timing, methods and quantity of any purchases of Common Shares under the NCIB, the availability of cash for repurchases of Common Shares under the NCIB, compliance with applicable laws and regulations pertaining to the NCIB, Agnico Eagle's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These assumptions include, but are not limited to, the following assumptions made as at the date of this news release: that there are no significant disruptions affecting operations; that production, permitting, development, expansion and the ramp up of operations at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the relevant metal prices, foreign exchange rates and prices for key mining and construction supplies will be consistent with Agnico Eagle's expectations; the availability and sources of capital; operating costs, ongoing utilization and future expansions, the ability to reach required commercial agreements, and the ability to obtain required regulatory approvals; and that there are no material variations in the current tax and regulatory environment.

Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by the forward-looking statements included in this news release. These risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of future production, project development, capital expenditures and other costs; foreign exchange rate fluctuations; financing of additional capital requirements; mining risks; community protests, including by First Nations groups; governmental and environmental regulation; the behavior of the financial markets, including the volatility of Agnico Eagle's stock price; and certain other risks set out in Agnico Eagle's public disclosure documents. For a more detailed discussion of such risks and other factors that may affect Agnico Eagle's ability to achieve the expectations set forth in the forward-looking statements contained in this news release, see Agnico Eagle's Annual Information Form and management's discussion and analysis for the year ended December 31, 2025, each filed on SEDAR+ at www.sedarplus.ca and included in the Annual Report on Form 40-F for the year ended December 31, 2025, which is filed on EDGAR at www.sec.gov, as well as Agnico Eagle's other filings with the Canadian securities regulators and the US Securities and Exchange Commission.

Readers are cautioned not to place undue reliance on a forward-looking statements, which speak only as of the date made. Other than as required by law, Agnico Eagle does not intend, and does not assume any obligation, to update these forward-looking statements.

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SOURCE Agnico Eagle Mines Limited

FAQ

What size NCIB did Agnico Eagle (AEM) announce on May 4, 2026?

Agnico Eagle announced an NCIB authorizing up to $2.0 billion in share repurchases. According to Agnico Eagle, the bid covers the lesser of $2.0 billion or 25,024,469 common shares over one year.

How many AEM shares could Agnico Eagle buy based on the April 30, 2026 share price?

At the April 30, 2026 close of $188.21, Agnico Eagle could purchase about 10,626,428 shares. According to Agnico Eagle, that equals approximately 2.12% of issued and outstanding common shares.

When does Agnico Eagle's renewed NCIB start and end for AEM shareholders?

The NCIB runs from May 6, 2026 to the earlier of May 5, 2027 or completion of purchases. According to Agnico Eagle, purchases will be made at management's discretion subject to exchange rules.

How will Agnico Eagle fund the AEM share repurchases under the NCIB?

Agnico Eagle will fund repurchases using existing cash resources. According to Agnico Eagle, any Common Shares repurchased under the NCIB will be cancelled and not held as treasury shares.

Are there execution limits or an automated plan for AEM repurchases under the NCIB?

Daily TSX purchases are capped at 264,928 shares, with a pre-cleared automatic purchase plan effective May 10, 2026. According to Agnico Eagle, the plan allows purchases during regulatory blackout periods within set parameters.