Alamos Gold (AGI) investor relations material

Growth strategy and production outlook

• Annual gold production is set to double from 500,000 ounces to 1 million ounces by 2030, driven by Island Gold expansion and Lynn Lake project completion.

• All new production is fully permitted, funded, and expected to lower all-in sustaining costs to CAD 1,200–1,300 per ounce.

• Island Gold will ramp up to over 530,000 ounces annually by 2028, with shaft commissioning in early 2027 and production rates doubling to 2,400 tons/day, then increasing to 3,000 tons/day.

• Magino mill reliability improved after addressing design flaws; throughput will double to 20,000 tons/day with a new gyratory crusher and grid power by early next year.

• Lynn Lake project in Manitoba is under full construction and will add 200,000 ounces of annual production.

Exploration and resource expansion

• Island Gold's underground reserves have grown to over 5 million ounces, with grades increasing from 9 g/t to 11 g/t and still open in all directions.

• Drilling results at Island Gold consistently show high grades (10–50 g/t over 5–10 m), with significant step-out successes confirming further growth potential.

• A maiden resource for the Cline-Pick-Edwards area is expected by early next year, with strong indications it will become a mineable deposit.

• The district's exploration potential is compared to historic Hemlo Gold, with multiple high-grade zones and ongoing aggressive drilling.

Operational improvements and challenges

• Magino mill reliability was hampered by climate-inappropriate design and CNG power; upgrades include a gyratory crusher and transition to grid power for cost and reliability gains.

• Young-Davidson mine experienced a seismic event, prompting a resequencing of the mine plan to manage stress and ensure long-term stability.

• Production at Young-Davidson is currently 5,000 tons/day, with a plan to ramp back above 7,000 tons/day by 2028 after additional development.