Agnico-Eagle may not be the biggest gold producer in the world – but we are proud to be one of the best. Even in the most challenging economic times, we have run a strong business. We generated solid earnings and cash flows, strengthened our balance sheet, completed the construction of two new gold mines, and grew our gold reserves. Our shareholders have also been richly rewarded. Since 2003, the Agnico-Eagle share price has risen approximately 300%. We have paid consecutive annual cash dividends since 1981. we have Also maintained our longstanding policy regarding non-hedging of gold to ensure that shareholders always participate fully in rising prices. This is why we say with confidence that Agnico-Eagle is the stock of choice for investors seeking quality growth and low-risk exposure to gold.   Highlights All dollar amounts are in US$ unless otherwise indicated   2008     2007      2006  Operating Gold production (ounces) 276,762 230,992  245,826  Total cash costs per ounce $ 162 $ (365) $ (690) Average realized gold price $ 879   $ 748    $ 622  Financial (millions except per share amounts) Revenue $ 368.9 $ 432.2  $ 464.6  Net income   73.2   139.3    161.3  Net income per share   0.51   1.05    1.40  Dividends per share $ 0.18   $ 0.18    $ 0.12  Total cash costs per ounce is a non-GAAP measure. A reconciliation is included in the attached Form 20-F. This document may use the terms “measured resources,” “indicated resources,” and “inferred resources.” The U.S. Securities and Exchange Commission does not recognize them. A more detailed discussion is included in the attached Form 20-F.