Agnico-Eagle Q2-2011 presentation

1. Agnico-Eagle Mines Limited Second Quarter 2011 Results

2. Forward Looking Statements The information in this document has been prepared as at July 27, 2011. Certain statements contained in this document 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. When used in this document, the words “anticipate”, “expect”, “estimate”, “forecast”, “will”, “planned”, and similar expressions are intended to identify forward-looking statements or information. Such statements include without limitation: statements regarding timing and amounts of capital expenditures and other assumptions; estimates of future reserves, resources, mineral production, optimization efforts and sales; estimates of mine life; estimates of future internal rates of return, mining costs, cash costs, minesite costs and other expenses; estimates of future capital expenditures and other cash needs, and expectations as to the funding thereof; statements and information as to the projected development of certain ore deposits, including estimates of exploration, development and production and other capital costs, and estimates of the timing of such exploration, development and production or decisions with respect to such exploration, development and production; estimates of reserves and resources, and statements and information regarding anticipated future exploration; the anticipated timing of events with respect to the Company's minesites and statements and information regarding the sufficiency of the Company's cash resources. Such statements and information reflect the Company's views as at the date of this document and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements and information. Many factors, known and unknown could cause the actual results to be materially different from those expressed or implied by such forward looking statements and information. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs; mining risks; community protests; risks associated with foreign operations; governmental and environmental regulation; the volatility of the Company's stock price; and risks associated with the Company's byproduct metal derivative strategies. For a more detailed discussion of such risks and other factors that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this document, see the Company's Annual Report on Form 20-F for the year ended December 31, 2010, as well as the Company's other filings with the Canadian Securities Administrators and the U.S. Securities and Exchange Commission. The Company does not intend, and does not assume any obligation, to update these forward-looking statements and information. Marc Legault, a Qualified Person and the Company’s Vice-President, Project Development, reviewed the technical information disclosed herein. For a detailed breakdown of the Company’s reserve and resource position see the February 16, 2011 press release on the Company’s website. That press release also lists the Qualified Persons for each project.

3. Note To Investors Regarding The Use Of Non-gaap Financial Measures This document presents estimates of future "total cash cost per ounce" and "minesite cost per tonne" that are not recognized measures under United States generally accepted accounting principles ("US GAAP"). This data may not be comparable to data presented by other gold producers. These future estimates are based upon the total cash costs per ounce and minesite costs per tonne that the Company expects to incur to mine gold at the applicable projects and do not include production costs attributable to accretion expense and other asset retirement costs, which will vary over time as each project is developed and mined. It is therefore not practicable to reconcile these forward-looking non-GAAP financial measures to the most comparable GAAP measure. A reconciliation of the Company's total cash cost per ounce and minesite cost per tonne to the most comparable financial measures calculated and presented in accordance with US GAAP for the Company's historical results of operations is set forth in the notes to the financial statements included in the Company's Annual Information Form and Annual Report on Form 20-F, for the year ended December 31, 2010, as well as the Company's other filings with the Canadian Securities Administrators and the SEC. LaRonde Goldex Kittila Lapa Pinos Altos Meadowbank 3

4. Operating and Financial Results Q2 2011

5. Q2 Highlights Throughput Steady At All Six Mines Strong cash generation Meadowbank secondary plant complete Good cost performance in Quebec and Mexico Exploration expands Meliadine, Kittila and Goldexdeposits 5

6. Strong Financial Position Production Growth Drives Strong Earnings And Cash Flows All $ amounts are in US$ 6

7. H2 Gold Production Forecast To Increase By Approximately 20% Operating Results 1Pinos Altos production includes heap leach Q2 2011 Revenue By Metal Q2 2011 Revenue By Mine

8. Strong Financial Position Next Phase Of Growth Fully Funded 8

9. Same Strategy 54 Years and Counting

10. AEM Has Created Significant Per Share Value “For many years, we have adhered to a consistent, low-risk strategy for strengthening our gold mining business and creating shareholder value” – Sean Boyd, Vice-Chairman and CEO 10

11. Creating Per Share Value Increasing Leverage To Gold – In The Ground Gold Reserves (oz) Per 1,000 Shares

12. Increasing Leverage To Gold - Produced Creating Per Share Value Payable Gold Production (oz) Per 1,000 Shares

13. Production Per Share Growth Leads to Cash Flow Per Share Growth Creating Per Share Value Cash Provided By Operating Activities Per Share ($) * 2011E CFPS is annualized based on 2011YTD data

14. Capital Expenditure Estimates Meliadine and internal expansions not included in this estimate Approximate Average EBITDA* Illustrative Ongoing Re-Investment Actual Estimate * Approximate EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) estimate of average for illustrative purposes using $1350/oz gold, $35/oz silver, $2350/t zinc, C$0.99/USD, 1.40USD/€

15. Same Strategy Returning Excess Capital To Shareholders

16. Fully Funded Production Growth Leads To Increasing Dividends Creating Per Share Value Dividends Per Share * 2011E CFPS is annualized based on 2011YTD data

17. Increase Cash Dividends Per Share A Core Part Of Our Strategy Dividend Yields (July 15, 2011) AEM has paid a cash dividend for 29 consecutive years Goal is to continue increasing sustainable dividends

18. Meliadine Project – Extensive Property Position Aqpik 8.6/3.2 & 9.6/3.2 Aklak (grab sample 116 g/t) Musket Bay Nanook Tiriganiaq Wesmeg Noel 6.6/3.1 & grab sample 282 g/t Wolf Peter Lake 5.1/3.7 & 20.4/1.3 F Zone Aquarius Pump Discovery 55 Upper 11.3 / 3.6 SikSik SnowGoose Far East Tonic J-2 7.7/4.2 & 70.3/1.4 Fay 2 Prairie (grab sample 217g/t) 100% Ownership Of 80km Greenstone Belt Priority targets 10 Km

19. Meliadine Project - Tiriganiaq High Grade Gold Reserve Adding More Drills. Potential Ramp Development.

20. Kittila – Long Life Gold Mine Exciting New Hole At Rimpi Suggests Significant Reserve Potential RIM10009 6.28 g/t Au / 5.7 m RIM10003B 3.64 g/t Au / 4.0 m ROU09002F 9.32 g/t Au / 11.2 m RIM10010 9.93 g/t Au / 6.2 m ROU10036D 5.98 g/t Au / 7.8 m RIE11008 7.10 g/t Au / 21.0 m

21. Growing Gold Resource Creating Value 73-426 3.02 g/t Au / 117.0 m 84-023 1.70 g/t Au / 69.0 m 73-427 1.84 g/t Au / 112.5 m 84-067 1.50 g/t Au / 120.0 m incl. 2.40 g/t Au / 61.5 m 73-429 1.48 g/t Au / 76.5 m 76-013 2.47 g/t Au / 240.0 m 76-014 2.17 g/t Au / 192.0 m Goldex – Significant Extension Of Mine Life Likely

22. Increase Reserves Per Share – Recent Acquisitions Early Stage M&A Has Added Shareholder Value

23. The Strategy Is Unchanged. Because It Works. “The strong skill set of our team is at the core of our success. The team is ready to grow Agnico-Eagle well into the future ” – Ebe Scherkus, President and COO 23

24. Appendix

27. Estimated average annual gold production of 179,000 oz

28. Exploration Focus

29. Resource definition and expansion at D zone at depth, exploration to west, east and at depth

30. Potential to add reserves and increase mine life26

33. 2012-2015

34. Estimated average annual gold production of 173,000 oz

35. Exploration Focus

36. Resource conversion, expansion below Suuri, Roura and Rimpi and along strike

37. Recent drilling has extended known gold resource28

41. Operating Metrics LaRonde Steady state producer Goldex Lapa Strong throughput keeps unit costs low Consistently exceeding design throughput

42. Operating Metrics Kittila Mill process stabilizing Pinos Altos Meadowbank Additional tailings filters increased mill capacity Design throughput expected by Q3, 2011

43. Gold and Silver Reserves and Resources December 31, 2010 Gold Silver *Calculated grades

44. Copper, Zinc and Lead Reserves and Resources December 31, 2010 Copper Zinc Lead *Calculated grades

45. A solid financial position, low-cost structure, well-funded growth projects in regions of low political risk, and a focused, consistent strategy put Agnico-Eagle in a strong position to continue creating exceptional per share value. Sean BoydVice-Chairman and Chief Executive Officer Ebe ScherkusPresident and Chief Operating Officer AmmarAl-JoundiSVP Finance andChief Financial Officer David SmithSVP Investor Relations Trading Symbol: AEM on TSX & NYSE Investor Relations:416-947-1212info@agnico-eagle.com Executive and Registered Office:145 King Street East, Suite 400Toronto, Ontario, Canada, M5C 2Y7 Tel: 416-947-1212Toll-Free: 888-822-6714 Fax: 416-367-4681 agnico-eagle.com