In this section:

2024 Highlights
President’s Message
The Company
Contact Us

Alamos Gold Inc.

Environmental, Social and Governance Report

2024

Report Contents

2024 Highlights

Governance

Sustainability  committee

Established

3 Years

Independent Verification Under the RGMPs

Our People

103,000

Hours of Training Provided

659

New Hires

Communities

$1.5M USD

In Community Investment

98%

Supplier Spend In-country

Environment

Zero

Significant Environmental Incidents

Reduction in Scope 3 GHGs

Message from the President and CEO

There are years that define an organization’s journey, and 2024 will be remembered as one of them. It was a year of meaningful growth and continued alignment with the values that make Alamos Gold a company we are proud to be part of.

This strong foundation is rooted in our core values, which continue to guide how we operate; both in how we work together and in how we engage with the communities where we live and work.

In 2024, we invested $1.5 million in community initiatives and charitable giving. We also launched an Executive Sustainability Committee, which met quarterly to oversee key developments across our ESG programs. And we marked our fifth year of conformance with the World Gold Council’s Responsible Gold Mining Principles, an important benchmark in our ongoing commitment to responsible mining.

Our legacy as a company depends on a strong safety culture. In 2024, we delivered over 100,000 hours of training across our operating mines, including safety-focused sessions through our Home Safe Every Day safety leadership program, as well as other training initiatives. Safety continues to be our most important value and shared responsibility.

This year’s success was driven by careful planning and consistent performance. In July 2024, we completed the acquisition of Argonaut Gold, integrating the Magino Mine into our new Island Gold District. Earlier in the year, we also acquired Orford Mining, adding the Qiqavik Gold Project to our portfolio.

We also made strong progress on our Phase 3+ Expansion Project at the Island Gold Mine, keeping us on track for completion in 2026. At Young-Davidson, we surpassed 2 million ounces of gold produced – a major achievement! We congratulate the Young-Davidson team for their ongoing reputation as a safe, steady and high-performance operation.

In Mexico, our Minas de Oro Nacional team delivered another strong year. Discoveries of new deposits set the stage for the Puerto Del Aire (PDA) project, which received approval for construction in January 2025. This development is expected to nearly triple the Mulatos District’s mine life and marks a major transition to underground mining and milling. We were also honoured to receive two top industry awards recognising our positive social impact in Mexico, including the Empresa Socialmente Responsible (ESR) award for the 16^th consecutive year.

We also made a construction decision at the Lynn Lake Project, with development activities ramping up in 2025 and initial gold production expected in 2028.

Given the Company’s recent strong growth, it is timely to update our emissions reduction strategy to ensure it is aligned with this growth. In particular, the inclusion of the Magino mine has boosted Island Gold’s production, but it has also expanded the District’s emissions profile.

Importantly, Magino’s emissions footprint under Alamos is expected to be meaningfully lower than what was projected prior to the acquisition. This is the result of integrating Magino into our broader decarbonisation efforts, including through grid electrification and other initiatives already underway. Together, Magino and Island Gold will form one of the largest and lowest-cost gold mining complexes in Canada, with a projected emissions intensity well below the industry average.

Given this step-change in our operations, we will introduce a revised emissions reduction target that reflects our expanded footprint, while remaining both ambitious and achievable. We look forward to sharing further details later in 2025.

Looking ahead, we have a clear path to growing production to nearly one million ounces of gold annually within five years. This is an ambitious goal and a new challenge for Alamos, but one I believe is well within our reach given our disciplined approach and proven operational track record.

As we grow, so does our team. The Magino integration resulted in a 25% increase in our workforce, and hundreds more will join us once construction of the Lynn Lake Project is complete.

We are also investing in the future through exploration. In 2024, we committed our largest-ever exploration budget and, in 2025, we plan to increase it further as we work to replace reserves and grow our resource base.

Throughout it all, our values will continue to guide us. I’m proud of the strong, values-driven culture we’ve built – rooted in safety, responsibility, and collaboration – and of the talented people who are shaping Alamos into a leading gold producer for years to come.

The Company

Alamos Gold Inc. (“Alamos” or the “Company”) is a growing and diversified gold producer with a long-term track record of creating value for all stakeholders through solid financial performance and low-cost production growth, as well as a commitment to safety, social responsibility, emissions-reduction, environmental stewardship, and workplace equity, diversity, and inclusion (EDI).

Contact Us

Please direct questions, comments, or general inquiries regarding the 2024 ESG Report to info@alamosgold.com

In this section:

Environmental, Social and Governance Report

2024

Report Contents

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