Exhibit 99.1

AGNICO EAGLE MINES LIMITED
MANAGEMENT'S DISCUSSION AND ANALYSIS
(Prepared in accordance with International Financial Reporting Standards)
For the Three and Nine Months Ended September 30, 2017

This Management's Discussion and Analysis ("MD&A") dated October 26, 2017 of Agnico Eagle Mines Limited ("Agnico Eagle" or the "Company") should be read in conjunction with the Company's condensed interim consolidated financial statements for the three and nine months ended September 30, 2017 that were prepared in accordance with International Accounting Standard 34 Interim Financial Reporting ("IAS 34") as issued by the International Accounting Standards Board ("IASB"). This MD&A should also be read in conjunction with the MD&A and consolidated financial statements included in the Company's Annual Report on Form 40-F for the year ended December 31, 2016 (the "Form 40-F"), prepared in accordance with IFRS. The condensed interim consolidated financial statements and this MD&A are presented in United States dollars ("US dollars", "$" or "US$") and all units of measurement are expressed using the metric system, unless otherwise specified. Certain information in this MD&A is presented in Canadian dollars ("C$"), Mexican pesos or European Union euros ("Euros" or "€"). Additional information relating to the Company, including the Company's Annual Information Form for the year ended December 31, 2016 (the "AIF"), is available on the Canadian Securities Administrators' (the "CSA") SEDAR website at www.sedar.com.

Business Overview

        Agnico Eagle is a senior Canadian gold mining company that has produced precious metals since 1957. The Company's operating mines are located in Canada, Mexico and Finland, with exploration and development activities in Canada, Europe, Latin America and the United States. The Company and its shareholders have full exposure to gold prices due to its long-standing policy of no forward gold sales. Agnico Eagle has declared a cash dividend every year since 1983.

        Agnico Eagle earns a significant proportion of its revenue and cash flow from the production and sale of gold in both dore bar and concentrate form. The remainder of revenue and cash flow is generated by the production and sale of by-product metals, primarily silver, zinc and copper.

        Agnico Eagle's operating mines and development projects are located in what the Company believes to be politically stable countries that are supportive of the mining industry. The political stability of the regions in which Agnico Eagle operates helps to provide confidence in its current and future prospects and profitability. This is important for Agnico Eagle as it believes that many of its new mines and recently acquired mining projects have long-term mining potential.

Financial and Operating Results

Balance Sheet Review

        Total assets as at September 30, 2017 of $7,875.2 million increased by $767.2 million compared with total assets of $7,108.0 million as at December 31, 2016. Cash and cash equivalents increased by $315.5 million to $855.5 million between December 31, 2016 and September 30, 2017 primarily due to cash provided by operating activities of $600.6 million, the issuance of $300.0 million guaranteed senior unsecured notes and $222.0 million in net proceeds from common shares issued, partially offset by $577.9 million in capital expenditures, a principal repayment of $115.0 million guaranteed senior unsecured notes and $55.8 million in dividends paid during the first nine months of 2017. Inventories increased to $511.3 million at September 30, 2017 compared with $443.7 million at December 31, 2016 primarily due to a $38.1 million increase in supplies and fuel inventory in Nunavut as a result of the summer barge season. Available-for-sale securities increased from $92.3 million at December 31, 2016 to $123.2 million at September 30, 2017 due to $43.4 million in new investments, partially offset by $5.1 million in unrealized fair value losses, $7.2 million in impairment losses and $0.2 million in disposals during the first nine months of 2017. Other current assets increased from $136.8 million at December 31, 2016 to $175.0 million at September 30, 2017 primarily due to a $17.8 million increase in other taxes recoverable and a $12.2 million increase in prepaid expenses. Property, plant and mine development increased from $5,106.0 million at December 31, 2016 to $5,389.3 million at September 30, 2017 primarily due to

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AGNICO EAGLE MINES LIMITED
MANAGEMENT'S DISCUSSION AND ANALYSIS
(Prepared in accordance with International Financial Reporting Standards)
For the Three and Nine Months Ended September 30, 2017

additions capitalized to property, plant and mine development of $677.7 million, partially offset by amortization expense of $379.3 million during the first nine months of 2017.

        Total liabilities increased to $2,955.6 million at September 30, 2017 from $2,615.5 million at December 31, 2016 primarily due to the issuance of $300.0 million guaranteed senior unsecured notes and a $154.5 million increase in accounts payable and accrued liabilities, partially offset by a $115.0 million principal repayment of guaranteed senior unsecured notes. A $154.5 million increase in accounts payable and accrued liabilities between December 31, 2016 and September 30, 2017 was primarily due to expenditures related to the summer barge shipping season to Nunavut and the impact of a stronger Canadian dollar relative to the US dollar. Agnico Eagle's reclamation provision increased by $32.3 million between December 31, 2016 and September 30, 2017 primarily due to the re-measurement of the Company's reclamation provisions by applying updated expected cash flows and assumptions at September 30, 2017. Agnico Eagle's net income taxes payable position of $35.1 million at December 31, 2016 was reduced during the first nine months of 2017 by payments to tax authorities in excess of the year to date current tax provision, resulting in a net income taxes payable position of $20.1 million at September 30, 2017.

Fair Value of Derivative Financial Instruments

        The Company occasionally enters into contracts to limit the risk associated with decreased by-product metal prices, increased foreign currency costs (including capital expenditures) and input costs. The contracts act as economic hedges of underlying exposures and are not held for speculative purposes. Agnico Eagle does not currently use complex derivative contracts to hedge exposures. The fair value of the Company's derivative financial instruments is outlined in the financial instruments note to the condensed interim consolidated financial statements.

Results of Operations

        Agnico Eagle reported net income of $71.0 million, or $0.31 per share, in the third quarter of 2017 compared with net income of $49.4 million, or $0.22 per share, in the third quarter of 2016. Agnico Eagle reported adjusted net income of $66.5 million, or $0.29 per share, in the third quarter of 2017 compared with adjusted net income of $53.4 million, or $0.24 per share, in the third quarter of 2016. For a reconciliation of adjusted net income to net income as presented in the condensed interim consolidated statements of income and comprehensive income in accordance with IFRS, see Non-GAAP Financial Performance Measures in this MD&A.

        In the third quarter of 2017, the operating margin (revenues from mining operations less production costs) of $317.8 million decreased compared to $333.5 million in the third quarter of 2016 primarily due to a 3.8% decrease in the realized price of gold and a 13.3% decrease in the realized price of silver, partially offset by a 5.5% decrease in production costs between periods. Gold production increased to 454,362 ounces in the third quarter of 2017 compared with 416,187 ounces in the third quarter of 2016 primarily due to a 31.3% and 23.0% higher gold grade between periods at the LaRonde and Meadowbank mines, respectively. Cash provided by operating activities amounted to $194.1 million in the third quarter of 2017 compared with $282.9 million in the third quarter of 2016. Total weighted average cash costs per ounce of gold produced amounted to $546 on a by-product basis and $623 on a co-product basis in the third quarter of 2017 compared with $575 on a by-product basis and $652 on a co-product basis in the third quarter of 2016. For a reconciliation of total cash costs per ounce of gold produced on both a by-product basis (deducting by-product metal revenues from production costs) and co-product basis (without deducting by-product metal revenues) to production costs as presented in the condensed interim consolidated statements of income and comprehensive income in accordance with IFRS, see Non-GAAP Financial Performance Measures in this MD&A.

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AGNICO EAGLE MINES LIMITED
MANAGEMENT'S DISCUSSION AND ANALYSIS
(Prepared in accordance with International Financial Reporting Standards)
For the Three and Nine Months Ended September 30, 2017

        Agnico Eagle reported net income of $208.8 million, or $0.91 per share, in the nine months ended September 30, 2017 compared with net income of $96.2 million, or $0.43 per share, in the nine months ended September 30, 2016. Agnico Eagle reported adjusted net income of $185.4 million, or $0.81 per share, in the first nine months of 2017 compared with adjusted net income of $105.0 million, or $0.47 per share, in the first nine months of 2016. For a reconciliation of adjusted net income to net income as presented in the condensed interim consolidated statements of income and comprehensive income in accordance with IFRS, see Non-GAAP Financial Performance Measures in this MD&A.

        In the first nine months of 2017, the operating margin (revenues from mining operations less production costs) increased to $907.2 million from $862.2 million in the first nine months of 2016 primarily due to a 3.4% increase in gold ounces sold between periods and higher realized sales prices for zinc and copper between periods. Gold production increased to 1,300,321 ounces in the first nine months of 2017 compared with 1,236,455 ounces in the first nine months of 2016 primarily due to a 25.2% and 15.9% higher gold grade between periods at the Meadowbank and LaRonde mines, respectively. Partially offsetting the overall increase in gold production between the first nine months of 2017 and the first nine months of 2016 was a 19.1% decrease in gold production at the Lapa mine primarily due to an 14.0% decrease in tonnes of ore milled between periods as it approaches the end of operations. Cash provided by operating activities amounted to $600.6 million in the first nine months of 2017 compared with $658.0 million in the first nine months of 2016. Total weighted average cash costs per ounce of gold produced amounted to $547 on a by-product basis and $622 on a co-product basis in the first nine months of 2017 compared with $580 on a by-product basis and $649 on a co-product basis in the first nine months of 2016. For a reconciliation of total cash costs per ounce of gold produced on both a by-product basis (deducting by-product metal revenues from production costs) and co-product basis (without deducting by-product metal revenues) to production costs as presented in the condensed interim consolidated statements of income and comprehensive income in accordance with IFRS, see Non-GAAP Financial Performance Measures in this MD&A.

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Three Months Ended September 30, 2017 vs. Three Months Ended September 30, 2016

        Revenues from mining operations decreased to $580.0 million in the third quarter of 2017 compared with $610.9 million in the third quarter of 2016 primarily due to a 3.8% decrease in the realized price of gold and a 13.3% decrease in the realized price of silver. In addition, sales volume decreased by 0.6% and 15.8% for gold and silver, respectively, due to timing of inventory.

        Production costs were $262.2 million in the third quarter of 2017, a 5.5% decrease compared with $277.4 million in the third quarter of 2016 primarily due to decreased costs at the LaRonde and Pinos Altos mines due to the timing of inventory. Partially offsetting the total decrease in production costs between the third quarter of 2016 and the third quarter of 2017 was the impact of a stronger Mexican peso, Canadian dollar, and Euro relative to the US dollar.

        Weighted average total cash costs per ounce of gold produced decreased to $546 on a by-product basis and $623 on a co-product basis in the third quarter of 2017 compared with $575 on a by-product basis and $652 on a co-product basis in the third quarter of 2016 primarily due to increased gold production as a result of higher gold grades at the LaRonde, Meadowbank and Canadian Malartic mines. For a reconciliation of total cash costs per ounce of gold produced on both a by-product basis (deducting by-product metal revenues from production costs) and co-product basis (without deducting by-product metal revenues) to production costs as presented in the condensed interim consolidated statements of income and comprehensive income in accordance with IFRS, see Non-GAAP Financial Performance Measures in this MD&A.

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AGNICO EAGLE MINES LIMITED
MANAGEMENT'S DISCUSSION AND ANALYSIS
(Prepared in accordance with International Financial Reporting Standards)
For the Three and Nine Months Ended September 30, 2017

        Exploration and corporate development expenses increased to $50.1 million in the third quarter of 2017 compared with $44.6 million in the third quarter of 2016 primarily due to an increase in spending at the Amaruq project.

        Amortization of property, plant and mine development decreased by $43.2 million to $118.3 million between the third quarter of 2016 and the third quarter of 2017 primarily due to an increase in the proven and probable mineral reserves and the mineral resources included in the current life-of-mine plans at the Meadowbank (Amaruq satellite deposit) and La India mines. In addition, amortization decreased at the Lapa mine as it reaches the end of its mine life.

        General and administrative expense increased to $28.0 million during the third quarter of 2017 compared with $21.5 million during the third quarter of 2016 primarily due to increased compensation and benefits expenses between periods.

        Impairment losses on certain available-for-sale securities of $1.4 million were recorded during the third quarter of 2017 compared with nil during the third quarter of 2016. Impairment loss evaluations of available-for-sale securities are based on whether a decline in fair value is considered to be significant or prolonged.

        During the third quarter of 2017, there was a non-cash foreign currency translation loss of $4.3 million attributable to a strengthening of the Canadian dollar and European Euro versus the US dollar at September 30, 2017 relative to June 30, 2017 on the Company's net monetary liabilities denominated in foreign currencies. A non-cash foreign currency translation loss of $2.5 million was recorded during the comparative third quarter of 2016.

        In the third quarter of 2017, the Company recorded income and mining taxes expense of $34.0 million on income before income and mining taxes of $105.0 million, resulting in an effective tax rate of 32.4%. In the third quarter of 2016, the Company recorded income and mining taxes expense of $38.5 million on income before income and mining taxes of $87.9 million, resulting in an effective tax rate of 43.8%. The decrease in the effective tax rate between the third quarter of 2016 and the third quarter of 2017 is due primarily to an increase in foreign exchange rate movements.

        There are a number of factors that can significantly impact the Company's effective tax rate including varying rates in different jurisdictions, the non-recognition of certain tax assets, mining allowances and incentives, foreign currency exchange rate movements, changes in tax laws, the impact of specific transactions and assessments and the relative distribution of income in the Company's operating jurisdictions. As a result of these factors, the Company's effective tax rate is expected to continue to fluctuate significantly in future periods.

Nine Months Ended September 30, 2017 vs. Nine Months Ended September 30, 2016

        Revenues from mining operations increased to $1,677.4 million during the first nine months of 2017 compared with $1,639.0 million during the first nine months of 2016 primarily due to a 3.4% increase in gold sales volume and a 92.1% increase in zinc sales volume.

        Production costs were $770.2 million during the first nine months of 2017, a 0.9% decrease compared with $776.8 million in the first nine months of 2016 primarily due to decreased costs at the LaRonde and Pinos Altos mines due to the timing of inventory. Partially offsetting the total decrease in production costs between the first nine months of 2016 and the first nine months of 2017 was higher contractor costs at the La India mine.

        Weighted average total cash costs per ounce of gold produced decreased to $547 on a by-product basis and $622 on a co-product basis during the first nine months of 2017 compared with $580 on a by-product basis and $649 on a co-product basis during the first nine months of 2016 primarily due to increased gold production as a result of higher gold grades at the LaRonde, Meadowbank and Canadian Malartic mines. This was partially offset by lower throughput levels and gold grades processed at the Lapa mine as it reaches the end of its mine

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AGNICO EAGLE MINES LIMITED
MANAGEMENT'S DISCUSSION AND ANALYSIS
(Prepared in accordance with International Financial Reporting Standards)
For the Three and Nine Months Ended September 30, 2017

life. For a reconciliation of total cash costs per ounce of gold produced on both a by-product basis (deducting by-product metal revenues from production costs) and co-product basis (without deducting by-product metal revenues) to production costs as presented in the condensed interim consolidated statements of income and comprehensive income in accordance with IFRS, see Non-GAAP Financial Performance Measures in this MD&A.

        Exploration and corporate development expenses decreased to $109.7 million during the first nine months of 2017 compared with $111.1 million during the first nine months of 2016 primarily due to a decrease in spending at the Amaruq project, partially offset by an increase in spending at the Barsele project.

        Amortization of property, plant and mine development decreased by $82.5 million to $379.3 million between the first nine months of 2016 and the first nine months of 2017 primarily due to an increase in the proven and probable mineral reserves and the mineral resources included in the current life-of-mine plans at the Meadowbank (Amaruq satellite deposit) and La India mines. In addition, amortization decreased at the Lapa mine as it reaches the end of its mine life.

        General and administrative expense increased to $86.5 million during the first nine months of 2017 compared with $70.6 million during the first nine months of 2016 primarily due to increased compensation and benefits expenses between periods.

        Impairment losses on certain available-for-sale securities of $7.2 million were recorded during the first nine months of 2017 compared with nil in the first nine months of 2016. Impairment loss evaluations of available-for-sale securities are based on whether a decline in fair value is considered to be significant or prolonged.

        During the first nine months of 2017, there was a non-cash foreign currency translation loss of $7.8 million attributable to a strengthening of the Canadian dollar, Mexican peso and European Euro versus the US dollar at September 30, 2017 relative to December 31, 2016 on the Company's net monetary liabilities denominated in foreign currencies. A non-cash foreign currency translation loss of $14.8 million was recorded during the comparative first nine months of 2016.

        In the first nine months of 2017, the Company recorded income and mining taxes expense of $70.6 million on income before income and mining taxes of $279.4 million, resulting in an effective tax rate of 25.3%. In the first nine months of 2016, the Company recorded income and mining taxes expense of $56.9 million on income before income and mining taxes of $153.0 million, resulting in an effective tax rate of 37.2%. The decrease in the effective tax rate between the first nine months of 2016 and the first nine months of 2017 is due primarily to an increase in foreign exchange rate movements.

LaRonde mine

        At the LaRonde mine, gold production increased by 46.8% to 105,345 ounces in the third quarter of 2017 compared with 71,784 ounces in the third quarter of 2016, primarily due to an increase in throughput levels and higher gold grade ore being processed. Production costs at the LaRonde mine were $39.7 million in the third quarter of 2017, a decrease of 19.1% compared with production costs of $49.1 million in the third quarter of 2016 driven primarily by the timing of unsold concentrate inventory.

        Gold production increased by 15.3% to 256,347 ounces in the first nine months of 2017 compared with 222,280 ounces in the first nine months of 2016 at the LaRonde mine, primarily due to higher gold grade ore being processed. Production costs at the LaRonde mine were $130.7 million in the first nine months of 2017, a decrease of 3.5% compared with production costs of $135.4 million in the first nine months of 2016 driven primarily by the timing of unsold concentrate inventory.

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AGNICO EAGLE MINES LIMITED
MANAGEMENT'S DISCUSSION AND ANALYSIS
(Prepared in accordance with International Financial Reporting Standards)
For the Three and Nine Months Ended September 30, 2017

Lapa mine

        At the Lapa mine, gold production increased by 5.7% to 17,169 ounces in the third quarter of 2017 compared with 16,242 ounces in the third quarter of 2016, primarily due to higher gold grade ore being processed. Production costs at the Lapa mine were $12.1 million in the third quarter of 2017, which was consistent with production costs of $12.2 million in the third quarter of 2016.

        Gold production decreased by 19.1% to 48,410 ounces in the first nine months of 2017 compared with 59,865 ounces in the first nine months of 2016 at the Lapa mine, primarily due to a decrease in throughput levels and lower gold grade ore being processed. Production costs at the Lapa mine were $36.7 million in the first nine months of 2017, a 7.6% decrease compared with production costs of $39.7 million in the first nine months of 2016, driven primarily by the expected decrease in mill throughput as the mine approaches the end of operations.

Goldex mine

        At the Goldex mine, gold production decreased by 11.7% to 28,906 ounces in the third quarter of 2017 compared with 32,742 ounces in the third quarter of 2016, primarily due to lower gold grade ore being processed. Production costs at the Goldex mine were $17.7 million in the third quarter of 2017, an increase of 8.0% compared with production costs of $16.4 million in the third quarter of 2016 driven primarily by the strengthening of the Canadian dollar relative to the US dollar.

        Gold production decreased by 4.8% to 91,914 ounces in the first nine months of 2017 compared with 96,534 ounces in the first nine months of 2016 at the Goldex mine, primarily due to lower gold grade ore being processed. Production costs at the Goldex mine were $49.2 million in the first nine months of 2017, an increase of 2.5% compared with production costs of $48.0 million in the first nine months of 2016, driven primarily by the strengthening of the Canadian dollar relative to the US dollar.

Meadowbank mine

        At the Meadowbank mine, gold production increased by 19.4% to 86,821 ounces in the third quarter of 2017 compared with 72,731 ounces in the third quarter of 2016, primarily due to higher gold grade ore being processed. Production costs at the Meadowbank mine were $60.5 million in the third quarter of 2017, an increase of 1.2% compared with production costs of $59.7 million in the third quarter of 2016 driven primarily by a strengthening of the Canadian dollar relative to the US dollar.

        Gold production increased by 23.0% to 267,480 ounces in the first nine months of 2017 compared with 217,444 ounces in the first nine months of 2016 at the Meadowbank mine, primarily due to higher gold grade ore being processed. Production costs at the Meadowbank mine were $168.9 million in the first nine months of 2017, an increase of 1.3% compared with production costs of $166.7 million in the first nine months of 2016 driven primarily by a decrease of deferred stripping costs being capitalized.

Canadian Malartic mine

        Agnico Eagle and Yamana Gold Inc. ("Yamana") jointly acquired 100.0% of Osisko on June 16, 2014 by way of a statutory plan of arrangement (the "Osisko Arrangement"). As a result of the Osisko Arrangement, Agnico Eagle and Yamana each indirectly own 50.0% of Canadian Malartic Corporation ("CMC") and the Canadian Malartic General Partnership ("the Partnership" or "Canadian Malartic GP" or "CMGP"), which holds the Canadian Malartic mine in northwestern Quebec.

        At the Canadian Malartic mine, attributable gold production increased by 7.4% to 82,097 ounces in the third quarter of 2017 compared with 76,428 ounces in the third quarter of 2016 primarily due to an increase in throughput levels and higher gold grade ore being processed. Attributable production costs at the Canadian Malartic mine were $45.0 million in the third quarter of 2017, a decrease of 6.0% compared with production

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AGNICO EAGLE MINES LIMITED
MANAGEMENT'S DISCUSSION AND ANALYSIS
(Prepared in accordance with International Financial Reporting Standards)
For the Three and Nine Months Ended September 30, 2017

costs of $47.9 million in the third quarter of 2016 driven primarily by an increase of deferred stripping costs being capitalized.

        Attributable gold production increased by 6.0% to 235,988 ounces in the first nine months of 2017 compared with 222,543 ounces in the first nine months of 2016 primarily due to an increase in throughput levels and higher gold grade ore being processed. Attributable production costs at the Canadian Malartic mine were $130.3 million in the first nine months of 2017, a decrease of 4.7% compared with production costs of $136.7 million in the first nine months of 2016 driven primarily by an increase in deferred stripping.

Kittila mine

        At the Kittila mine, gold production decreased by 8.1% to 50,415 ounces in the third quarter of 2017 compared with 54,835 ounces in the third quarter of 2016 primarily due to a decrease in throughput levels and lower gold grade ore being processed. Production costs at the Kittila mine were $37.8 million in the third quarter of 2017, an increase of 0.9% compared with production costs of $37.4 million in the third quarter of 2016 driven primarily by the strengthening of the Euro relative to the US dollar.

        Gold production was 149,192 ounces in the first nine months of 2017 which was consistent with 149,171 ounces in the first nine months of 2016 at the Kittila mine. Production costs at the Kittila mine were $110.1 million in the first nine months of 2017, an increase of 2.4% compared with production costs of $107.5 million million in the first nine months of 2016 driven primarily by timing of inventory.

Pinos Altos mine

        At the Pinos Altos mine, gold production decreased by 3.3% to 46,897 ounces in the third quarter of 2017 compared with 48,512 ounces in the third quarter of 2016 primarily due to lower gold grade ore being processed through the mill. Production costs at the Pinos Altos mine were $25.6 million in the third quarter of 2017, a decrease of 27.9% compared with production costs of $35.5 million in the third quarter of 2016 driven primarily by timing of inventory and lower materials costs.

        Gold production decreased by 3.9% to 140,453 ounces in the first nine months of 2017 compared with 146,087 ounces in the first nine months of 2016 at the Pinos Altos mine, due primarily to lower gold grade ore being processed through the mill. Production costs at the Pinos Altos mine were $78.0 million in the first nine months of 2017, a decrease of 11.5% compared with production costs of $88.1 million in the first nine months of 2016 driven primarily by timing of inventory and lower materials costs.

Creston Mascota deposit at Pinos Altos

        At the Creston Mascota deposit at Pinos Altos, gold production decreased by 8.9% to 11,054 ounces in the third quarter of 2017 compared with 12,134 ounces in the third quarter of 2016 primarily due to lower gold recoveries between periods, partially offset by an increase in the tonnes of ore processed. Production costs at the Creston Mascota deposit at Pinos Altos were $7.8 million in the third quarter of 2017, an increase of 11.7% compared with production costs of $7.0 million in the third quarter of 2016 driven primarily by higher contractor costs.

        Gold production decreased by 4.7% to 34,372 ounces in the first nine months of 2017 compared with 36,083 ounces in the first nine months of 2016 at the Creston Mascota deposit at Pinos Altos primarily due to lower gold recoveries, partially offset by an increase in tonnes processed. Production costs at the Creston Mascota deposit at Pinos Altos were $22.2 million in the first nine months of 2017, an increase of 14.2% compared with production costs of $19.4 million in the first nine months of 2016 driven primarily by higher contractor costs.

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AGNICO EAGLE MINES LIMITED
MANAGEMENT'S DISCUSSION AND ANALYSIS
(Prepared in accordance with International Financial Reporting Standards)
For the Three and Nine Months Ended September 30, 2017

La India mine

        At the La India mine, gold production decreased by 18.3% to 25,143 ounces in the third quarter of 2017 compared with 30,779 ounces in the third quarter of 2016 primarily due to lower gold grade ore being processed. Production costs at the La India mine were $16.0 million in the third quarter of 2017, an increase of 31.4% compared with production costs of $12.2 million in the third quarter of 2016 driven primarily by higher contractor costs and the timing of inventory.

        Gold production decreased by 12.5% to 75,650 ounces in the first nine months of 2017 compared with 86,448 ounces in the first nine months of 2016 primarily due to lower gold grade ore being processed. Production costs at the La India mine were $44.1 million in the first nine months of 2017, an increase of 25.5% compared with production costs of $35.1 million in the first nine months of 2016 driven primarily by higher contractor costs and the timing of inventory.

Liquidity and Capital Resources

        As at September 30, 2017, the Company's cash and cash equivalents, short-term investments and current restricted cash totaled $866.1 million compared with $548.8 million at December 31, 2016. The Company's policy is to invest excess cash in highly liquid investments of the highest credit quality to reduce risks associated with these investments. Such investments with remaining maturities of greater than three months and less than one year at the time of purchase are classified as short-term investments. Decisions regarding the length of maturities are based on cash flow requirements, rates of return and various other factors.

        Working capital (current assets less current liabilities) increased to $1,264.9 million at September 30, 2017 compared with $806.6 million at December 31, 2016.

Operating Activities

        Cash provided by operating activities decreased to $194.1 million in the third quarter of 2017 compared with $282.9 million in the third quarter of 2016. Operating cash flows decreased primarily due to lower realized prices for gold and silver along with a 12.2% increase in exploration expenditures between periods.

        Cash provided by operating activities decreased to $600.6 million in the first nine months of 2017 compared with $658.0 million in the first nine months of 2016. Operating cash flows decreased primarily due to lower realized prices for gold and silver, and less favourable working capital changes between periods.

Investing Activities

        Cash used in investing activities increased to $265.6 million in the third quarter of 2017 compared with $142.7 million in the third quarter of 2016 primarily due to a $131.4 million increase in capital expenditures between periods. The increase in capital expenditures between periods is mainly attributable to construction expenditures incurred in the third quarter of 2017 related to the Meliadine project.

        In the third quarter of 2017, the Company purchased $7.0 million in available-for-sale securities and other investments compared with $9.6 million in the third quarter of 2016. In the third quarter of 2017, the Company received net proceeds of $0.1 million from the sale of available-for-sale securities and other investments compared with $2.2 million in the third quarter of 2016. The Company's investments in available-for-sale securities consist primarily of investments in common shares of entities in the mining industry.

        Cash used in investing activities increased to $622.7 million in the first nine months of 2017 compared with $372.9 million in the first nine months of 2016 primarily due to a $24.1 million increase in the purchase of available-for-sale securities and other investments and a $228.4 million increase in capital expenditures between periods. The increase in capital expenditures between periods is mainly attributable to construction expenditures incurred in the first nine months of 2017 related to the Meliadine project.

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AGNICO EAGLE MINES LIMITED
MANAGEMENT'S DISCUSSION AND ANALYSIS
(Prepared in accordance with International Financial Reporting Standards)
For the Three and Nine Months Ended September 30, 2017

        In the first nine months of 2017, the Company purchased $43.4 million in available-for-sale securities and other investments compared with $19.4 million in the first nine months of 2016. In the first nine months of 2017, the Company received net proceeds of $0.3 million from the sale of available-for-sale securities and other investments compared with $9.5 million in the first nine months of 2016.

        On June 14, 2017, the Company completed the purchase of 4,356,000 common shares of White Gold Corporation ("White Gold") pursuant to a private placement. The Company paid C$2.01 per White Gold common share, for total consideration of approximately C$8.8 million. Upon the closing of the transaction, Agnico Eagle held approximately 19.93% of the issued and outstanding common shares of White Gold on a non-diluted basis.

        On June 9, 2017, the Company completed the purchase of 10,120,000 common shares of Candelaria Mining Corporation ("Candeleria") pursuant to a private placement. The Company paid C$0.965 per Candelaria common share, for total consideration of approximately C$9.8 million. Upon the closing of the transaction, Agnico Eagle held approximately 9.95% of the issued and outstanding common shares of Candelaria on a non-diluted basis.

        On March 8, 2017, the Company completed the purchase of 38,100,000 common shares of GoldQuest Mining Corporation ("GoldQuest") pursuant to a private placement. The Company paid C$0.60 per GoldQuest common share, for total consideration of approximately C$22.9 million. Upon the closing of the transaction, Agnico Eagle held approximately 15.0% of the issued and outstanding common shares of GoldQuest on a non-diluted basis.

        On February 28, 2017, the Company completed the purchase of 14,420,000 common shares of Otis Gold Corporation ("Otis") pursuant to a private placement. The Company paid C$0.35 per Otis common share, for total consideration of approximately C$5.0 million. Upon the closing of the transaction, Agnico Eagle held approximately 9.95% of the issued and outstanding common shares of Otis on a non-diluted basis.

Financing Activities

        Cash used in financing activities was $12.1 million in the third quarter of 2017 compared with cash provided by financing activities of $11.8 million in the third quarter of 2016 primarily due to a $29.3 million decrease in proceeds on employee stock option plan exercises, partially offset by a $3.3 million decrease in dividend payments between periods.

        Cash provided by financing activities increased to $339.3 million in the first nine months of 2017 compared with $209.7 million in the first nine months of 2016 primarily due to a $195.7 million increase in net proceeds from the issuance of common shares and a $150.0 million decrease in the net repayment of long-term debt, partially offset by a $155.8 million decrease in proceeds on employee stock option plan exercises and a $50.0 million decrease in notes issuances between periods.

        The Company issued common shares for net proceeds of $6.9 million in the third quarter of 2017 and $35.6 million in the third quarter of 2016 attributable to employee stock option plan exercises, issuances under the incentive share purchase plan and the dividend reinvestment plan. Net proceeds from the issuance of common shares amounted to $256.8 million in the first nine months of 2017 attributable to an equity issuance directly to one institutional investor, employee stock option plan exercises, issuances under the incentive share purchase plan and the dividend reinvestment plan. Net proceeds from the issuance of common shares amounted to $216.9 million in the first nine months of 2016 attributable to the issuance of flow-through common shares, employee stock option plan exercises, issuances under the incentive share purchase plan and the dividend reinvestment plan.

11

AGNICO EAGLE MINES LIMITED
MANAGEMENT'S DISCUSSION AND ANALYSIS
(Prepared in accordance with International Financial Reporting Standards)
For the Three and Nine Months Ended September 30, 2017

        Agnico Eagle's indirect attributable interest in the debt obligations of Canadian Malartic GP included a secured loan facility (the "CMGP Loan"). The final scheduled repayment of C$20.0 million was made on June 30, 2017, resulting in attributable outstanding principal of nil.

        On May 5, 2017, the Company closed a $300.0 million private placement of guaranteed senior unsecured notes (the "2017 Notes") which were funded on June 29, 2017. Upon issuance, the 2017 Notes had a weighted average maturity of 10.9 years and weighted average yield of 4.67%. Proceeds from the 2017 Notes were for working capital and general corporate purposes.

        On July 26, 2017, Agnico Eagle declared a quarterly cash dividend of $0.10 per common share paid on September 15, 2017 to holders of record of the common shares of the Company on September 1, 2017. Agnico Eagle has declared a cash dividend every year since 1983. In the third quarter of 2017, the Company paid dividends of $17.6 million, a decrease of $3.3 million compared to $20.9 million paid in the third quarter of 2016. In the first nine months of 2017, the Company paid dividends of $55.8 million, an increase of $4.7 million compared to $51.1 million paid in the first nine months of 2016. Although the Company expects to continue paying dividends, future dividends will be at the discretion of the Board and will be subject to factors such as income, financial condition and capital requirements.

        On April 7, 2017, the Company repaid $115.0 million of the guaranteed senior unsecured notes that were issued on April 7, 2010 (the "2010 Notes") with an annual interest rate of 6.13%. As at September 30, 2017, the amount of the 2010 Notes that remains outstanding is $485.0 million.

        On March 31, 2017, the Company issued 5,003,412 common shares to an institutional investor in the United States at a price of $43.97 per common share, for gross proceeds of approximately $220.0 million. Transaction costs of $6.7 million resulted in net proceeds of $213.3 million.

        On October 25, 2017, the Company amended its $1.2 billion Credit Facility (the "Credit Facility") to extend the maturity date from June 22, 2021 to June 22, 2022. As at September 30, 2017, the Company's outstanding balance under the Credit Facility was nil. Credit Facility availability is reduced by outstanding letters of credit, amounting to $0.8 million at September 30, 2017. As at September 30, 2017, $1,199.2 million was available for future drawdown under the Credit Facility.

        On June 29, 2016, the Company entered into a standby letter of credit facility with a financial institution providing for a C$100.0 million uncommitted letter of credit facility (the "Third LC Facility"). The Third LC Facility may be used to support the reclamation obligations or non-financial or performance obligations of the Company or its subsidiaries. The obligations of the Company under the Third LC Facility are guaranteed by certain of its subsidiaries. As at September 30, 2017, total letters of credit outstanding under the Third LC Facility amounted to $41.1 million.

        On September 23, 2015, the Company entered into a standby letter of credit facility with a financial institution providing for a further C$150.0 million uncommitted letter of credit facility (as amended, the "Second LC Facility"). The Second LC Facility may be used by the Company to support the reclamation obligations of the Company, its subsidiaries or any entity in which the Company has a direct or indirect interest or the performance obligations (other than with respect to indebtedness for borrowed money) of the Company, its subsidiaries or any entity in which the Company has a direct or indirect interest that are not directly related to reclamation obligations. Payment and performance of the Company's obligations under the Second LC Facility are supported by an account performance security guarantee issued by Export Development Canada in favour of the lender. As at September 30, 2017, total letters of credit outstanding under the Second LC Facility amounted to $92.4 million.

        On July 31, 2015, the Company amended its credit agreement with another financial institution relating to its uncommitted letter of credit facility (as amended, the "First LC Facility"). Effective September 27, 2016, the amount available under the First LC Facility was increased to C$350.0 million. The obligations of the Company

12

AGNICO EAGLE MINES LIMITED
MANAGEMENT'S DISCUSSION AND ANALYSIS
(Prepared in accordance with International Financial Reporting Standards)
For the Three and Nine Months Ended September 30, 2017

under the First LC Facility are guaranteed by certain of its subsidiaries. The First LC Facility may be used to support the reclamation obligations or non-financial or performance obligations of the Company or its subsidiaries. As at September 30, 2017, $170.1 million had been drawn under the First LC Facility.

        Agnico Eagle's indirect attributable interest in the finance lease obligations of Canadian Malartic GP include secured finance lease obligations provided in separate tranches with remaining maturities up to 2019 and a 7.5% interest rate. As at September 30, 2017, the Company's attributable finance lease obligations were $3.7 million.

        The Company was in compliance with all covenants contained in the Credit Facility, 2017 Notes, 2016 Notes, 2015 Note, 2012 Notes, 2010 Notes, First LC Facility, Second LC Facility, and the Third LC Facility as at September 30, 2017.

Risk Profile

        Volatility remains high in global financial markets and weakness in the global economy continues to have an impact on the profitability and liquidity of many businesses. Although there are signs of stabilization, the timing of a return to historical market conditions is uncertain. Weak economic conditions and volatile financial markets may have a significant impact on Agnico Eagle's cost and availability of financing and overall liquidity. The volatility in gold, silver, zinc and copper prices directly affects Agnico Eagle's revenues, earnings and cash flow. Volatile energy, commodity and consumables prices and currency exchange rates impact production costs. The volatility of global stock markets impacts the valuation of the Company's equity investments.

Disclosure Controls and Procedures and Internal Controls over Financial Reporting

        The Company's management is responsible for establishing and maintaining adequate internal control over financial reporting ("ICFR") and disclosure controls and procedures ("DC&P").

        ICFR is a framework designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with IFRS. Management has used the Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013 ("COSO") in order to assess the effectiveness of the Company's ICFR.

        DC&P form a broader framework designed to provide reasonable assurance that information required to be disclosed by the Company in its annual and interim filings and other reports filed under securities legislation is recorded, processed, summarized and reported within the time frame specified in securities legislation and includes controls and procedures designed to ensure that information required to be disclosed by the Company in its annual and interim filings and other reports submitted under securities legislation is accumulated and communicated to the Company's management to allow timely decisions regarding required disclosure.

        Together, the ICFR and DC&P frameworks provide internal control over financial reporting and disclosure. The Company maintains disclosure controls and procedures that are designed to provide reasonable assurance that information, which is required to be disclosed in the Company's annual and interim filings and other reports filed under securities legislation, is accumulated and communicated in a timely fashion. Due to their inherent limitations, the Company acknowledges that, no matter how well designed, ICFR and DC&P can provide only reasonable assurance of achieving the desired control objectives and as such may not prevent or detect all misstatements. Further, the effectiveness of ICFR is subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with policies or procedures may change.

        There have been no significant changes in the Company's internal control over financial reporting in the third quarter of 2017 that have materially affected, or are reasonably likely to materially affect, the reliability of financial reporting.

13

AGNICO EAGLE MINES LIMITED
MANAGEMENT'S DISCUSSION AND ANALYSIS
(Prepared in accordance with International Financial Reporting Standards)
For the Three and Nine Months Ended September 30, 2017

Non-GAAP Financial Performance Measures

        This MD&A presents certain financial performance measures, including adjusted net income, total cash costs per ounce of gold produced (on both a by-product and co-product basis), minesite costs per tonne and all-in sustaining costs per ounce of gold produced (on both a by-product and co-product basis), that are not recognized measures under IFRS. This data may not be comparable to data presented by other gold producers. Non-GAAP financial performance measures should be considered together with other data prepared in accordance with IFRS.

Adjusted Net Income

        Adjusted net income is not a recognized measure under IFRS and this data may not be comparable to data presented by other gold producers. This measure is calculated by adjusting net income as recorded in the condensed interim consolidated statements of income and comprehensive income for non-recurring, unusual and other items. The Company believes that this generally accepted industry measure allows the evaluation of the results of continuing operations and is useful in making comparisons between periods. Adjusted net income is intended to provide investors with information about the Company's continuing income generating capabilities. Management uses this measure to monitor and plan for the operating performance of the Company in conjunction with other data prepared in accordance with IFRS.