Alamos Gold Inc. · TSX:AGI
Alamos Gold — Q3 2026 Earnings Presentation
25 slides from Alamos Gold's earnings presentation, Oct 29, 2026
Slide 1: Third Quarter 2026 Results Presentation
Third Quarter 2026 Results Presentation October 29, 2026
Slide 2: Cautionary notes
Cautionary notes This presentation, the information contained herein, any other materials provided in connection with this presentation and any oral remarks accompanying this presentation (collectively, the “Presentation”), have been prepared by Alamos Gold Inc. (“Alamos” or the “Company”) solely fo
Slide 3: Q3 2026 highlights
Q3 2026 highlights On track to achieve full year revised guidance Cash flow from operations, before Production (000 oz) Consolidated free cash flow (US$M)1,3 working capital (US$ per share)1 Q3 production in-line with quarterly 404 $321 374 $2.05 guidance; record performance from Island Gold Distric
Slide 4: Q3 2026 highlights & upcoming catalysts
Q3 2026 highlights & upcoming catalysts Q3 highlights ✓ $22M returned to shareholders in Q3 through dividends & buybacks; additional $17M of shares repurchased in October to date ✓ Eliminated majority of remaining legacy gold hedges since Q2, providing further upside to higher gold prices ✓ $160M re
Slide 5: Strong outlook
Strong outlook Growing, long-life Canadian production; declining cost profile 1,100 1,000 ~1M oz 900 longer-term production rate including Lynn Lake & expansion of Island Gold District, ~87% 800 growth from 2026 Production (000 oz Au)1 700 Declining costs 600 500 400 driven by low-cost growth from I
Slide 6: Financial highlights
Financial highlights Q3 2026A Q3 2025A YoY % Q3 2026A Q3 2025A YoY % Adjusted net earnings, per share1 Change YTD YTD Change Realized gold price (US$/oz) $4,258 $3,359 27% $4,532 $3,144 44% $1.58 Operating revenues (US$M) $510 $462 10% $1,701 $1,234 38% $0.86 Cash flow from operations (US$M) $216 $2
Slide 7: Operational highlights – Island Gold District
Operational highlights – Island Gold District Q3 Q3 Q3 2026A Q3 2025A 2026A 2025A 2026 Guidance9 Production & mine-site AISC1 YTD YTD Gold production (000 oz) 68.7 66.8 197.4 190.4 290-310 70 $2,000 60 Total cash costs (US$/oz)1 $1,242 $964 $1,247 $1,002 $1,025-1,125 $1,600 50 Mine-site all-in susta
Slide 8: Island Gold District operational highlights: Record underground mining rates
Island Gold District operational highlights Record underground mining rates Record underground mining rates of 1,790 tpd in Q3, up 15% from Q2 Island Gold underground mining rates (tpd) 2,000 Ramp up on track to reach 2,000 tpd by end of 2026 1,790 +55% 1,550 Further increase to 2,400 tpd expected i
Slide 9: Island Gold District operational highlights: Record Magino milling rates
Island Gold District operational highlights Record Magino milling rates Magino milling rates (tpd) Record milling rates of 10,313 tpd in Q3, up 16% from Q2 12,000 10,313 Increase driven by improving performance & reliability of overall circuit, +20% 10,000 enhanced maintenance program & supplemental
Slide 10: Phase 3+ shaft & IGD Expansions advancing
Phase 3+ shaft & IGD Expansions advancing Phase 3+ Shaft Expansion • Shaft equipping & lateral development advancing • Shaft commissioning delayed approximately one quarter to mid-2027 due to additional time required to enhance ground support across loading pocket & ore & waste handling system • Tot
Slide 11: Operational highlights – Young-Davidson
Operational highlights – Young-Davidson Q3 Q3 2026 Production & mine-site AISC1 Q3 2026A Q3 2025A 2026A 2025A Guidance3 YTD YTD 50 $3,000 Gold production (000 oz) 22.7 37.9 85.7 112.0 100-115 40 $2,500 Total cash costs (US$/oz)1 $2,041 $1,200 $1,712 $1,248 $1,750-1,850 30 $2,000 Mine-site all-in sus
Slide 12: Young-Davidson – Q3 initiatives to support a gradual increase in mining rates
Young-Davidson – Q3 initiatives to support a gradual increase in mining rates through 2027 & 2028 Q3 operational initiatives: ✓ Advancing rehabilitation work on the 9410 level ✓ Enhancing ground support throughout lower portion of the mine ✓ Updating mine plan with optimized ore extraction sequence
Slide 13: Operational highlights – Mulatos District
Operational highlights – Mulatos District Q3 Q3 Production & mine-site AISC1 2026 Mulatos District Q3 2026A Q3 2025A 2026A 2025A Guidance3 50 YTD YTD $1,400 Gold production (000 oz) – Mulatos District 27.6 37.0 90.4 101.5 120-135 40 $1,200 Total cash costs (US$/oz)1 $1,122 $761 $1,028 $971 $1,050-1,
Slide 14: PDA project – PDA mill on track for completion mid-2027
PDA project – PDA mill on track for completion mid-2027 Q3 progress: ✓ Finalized all major equipment purchase orders; most deliveries expected in Q4 ✓ Underground mine development advanced with 573 m completed in Q3 ✓ Primary crusher & fine crushing construction advanced ✓ Mill structural works ~75%
Slide 15: Lynn Lake project – construction ramping up
Lynn Lake project – construction ramping up Initial production expected H1 2029 Q3 progress ✓ Permanent camp commissioned ✓ Advanced process plant site preparation & foundation work ✓ Site-wide infrastructure construction continued ✓ Drilling & blasting activities for starter pit at MacLellan advanc
Slide 16: Alamos Gold – value creation opportunities
Alamos Gold – value creation opportunities Growing, diversified, Expanding margins Conservative, Sustainable business intermediate gold & profitability low-risk strategy model supporting growing producer returns over the long-term Near-term catalysts Island Gold shaft Island Gold District Exploratio
Slide 17: Appendices
Appendices
Slide 18: Board of Directors, Executive and Management Team
Board of Directors, Executive and Management Team Board of Directors J. Robert S. Alexander Elaine John A. McCluskey David Fleck Tony Giardini Chana Martineau Richard McCreary Monique Mercier Shaun Usmar Prichard Christopher Ellingham Chairman Director Director Director Director Director Director Di
Slide 19: 2026 guidance
2026 guidance 2026 Guidance1 Island Young-Davidson Mulatos District Lynn Lake Total Gold District Gold production (000 oz) 290 - 310 100 - 115 120 – 135 — 510 - 560 Total cash costs2 ($/oz) $1,025 - 1,125 $1,750 - 1,850 $1,050 - 1,150 — $1,175 - 1,275 All-in sustaining costs2,3 ($/oz) $1,550 - 1,650
Slide 20: Total Proven & Probable Mineral Reserves
Total Proven & Probable Mineral Reserves PROVEN AND PROBABLE GOLD RESERVES (as at December 31, 2025) Proven Reserves Probable Reserves Total Proven and Probable Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) Isla
Slide 21: Total Measured & Indicated Mineral Resources
Total Measured & Indicated Mineral Resources MEASURED AND INDICATED GOLD MINERAL RESOURCES (as at December 31, 2025) Measured Resources Indicated Resources Total Measured and Indicated Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000'
Slide 22: Total Inferred Mineral Resources
Total Inferred Mineral Resources INFERRED GOLD MINERAL RESOURCES (as at December 31, 2025) Tonnes Grade Ounces (000's) (g/t Au) (000's) Island Gold 2,867 11.51 1,061 Magino 14,045 0.75 338 Total Island Gold District 16,912 2.57 1,398 Young-Davidson - Surface 31 0.99 1 Young-Davidson - Underground 1,
Slide 23: Notes to Mineral Reserve and Resource estimates
Notes to Mineral Reserve and Resource estimates Qualified Persons Chris Bostwick, FAusIMM, Alamos Gold’s Senior Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Chris Bostwick is a Qualified Person within the meani
Slide 24: Cautionary Note to U.S. Investors
Cautionary Note to U.S. Investors Unless otherwise indicated, all Mineral Resource and Mineral Reserve estimates included in this news release have been prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Insti
Slide 25: Investor relations contacts
SCOTT K. PARSONS, CFA SVP, Corporate Development & Investor Relations 416.368.9932 x 5439 [email protected] KHALID ELHAJ, P.ENG., CFA VP, Business Development & Investor Relations 416.368.9932 x 5427 [email protected]