19.REVENUES FROM MINING OPERATIONS AND TRADE RECEIVABLES

Agnico Eagle is a gold mining company with mining operations in Canada, Australia, Finland and Mexico. The Company earns substantially all of its revenues from the production and sale of gold.

The cash flow and profitability of the Company’s operations are significantly affected by the market price of gold. The prices of these metals can fluctuate significantly and are affected by numerous factors beyond the Company’s control.

During the year ended December 31, 2025, four customers each contributed more than 10.0% of total revenues from mining operations for a combined total of approximately 76.3% of revenues from mining operations. However, because gold can be sold through numerous gold market traders worldwide, the Company is not economically dependent on a limited number of customers for the sale of its product.

The following table sets out sales to individual customers that exceeded 10.0% of revenues from mining operations:

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Trade receivables are recognized once the transfer of control for the metals sold has occurred and reflect the amounts owing to the Company in respect of its sales of concentrates to third parties prior to the satisfaction in full of the payment obligations of the third parties. As at December 31, 2025, the Company had $18.7 million (December 31, 2024 — $7.6 million) in receivables relating to provisionally priced concentrate sales (Note 8A).

19.REVENUES FROM MINING OPERATIONS AND TRADE RECEIVABLES (Continued)

The Company has recognized the following amounts relating to revenue in the consolidated statements of income:

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The following table sets out the disaggregation of revenue by metal:

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In 2025, precious metals (gold and silver) accounted for 99.5% of Agnico Eagle’s revenues from mining operations (2024– 99.6%).