• A smaller-scale Barrick Gold or Newmont.
• Like an ExxonMobil or Chevron, but for gold instead of oil.

• Gold: Alamos Gold's primary product is refined gold bullion, extracted from its mining operations across North America and Turkey.

Alamos Gold (AGI) sells primarily to other companies rather than directly to individuals. As a gold producer, their primary product is unrefined gold (dore bars) containing gold and silver.

Due to the nature of the global commodity market for precious metals and Alamos Gold's diversified sales strategy, the company does not typically disclose the names of specific major customers in its public filings. Gold dore bars are sold to multiple buyers globally under long-term or spot contracts at prevailing market prices, meaning no single customer generally represents a material portion of their revenue that would require disclosure.

Therefore, while specific company names cannot be provided, Alamos Gold's major customers fall into the following categories:

• Precious Metals Refiners: These companies purchase the unrefined gold dore bars and process them into purified gold (e.g., investment-grade bullion bars, grains) for subsequent sale to various market participants.
• Bullion Dealers and Traders: These entities specialize in the buying and selling of large quantities of precious metals, often acting as intermediaries between producers, refiners, banks, and other institutional buyers in the global market.

Since Alamos Gold does not disclose specific names of these refiners or dealers as major customers, it is not possible to list specific company names and their corresponding stock symbols.

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John A. McCluskey, President, Chief Executive Officer & Director

Mr. McCluskey co-founded Alamos Gold Inc. in 2003 and has served as its President and CEO since then. He also founded Grayd Resource Corporation in 1996 and was its Chief Executive Officer until 2003. Grayd Resources was subsequently acquired by Agnico Eagle Mines in 2011. His earlier career included working for Glamis Gold in the 1980s.

Gregory Fisher, Chief Financial Officer

Mr. Fisher joined Alamos Gold in 2010 and was appointed Chief Financial Officer in 2023. Before his current role, he served as Senior Vice President of Finance from 2021 to 2023 and Vice President of Finance from 2011 to 2021 at Alamos Gold. Prior to joining Alamos Gold, Mr. Fisher was a Senior Manager at KPMG, where he focused on serving mining clients within the firm's audit practice.

Luc Guimond, Chief Operating Officer

Mr. Guimond has held the position of Chief Operating Officer since 2022. His previous roles at Alamos Gold include Vice President of Operations and General Manager of Young-Davidson. He also held senior positions at Hemlo Gold, Noranda, Battle Mountain Gold, and Newmont.

Scott K. Parsons, Senior Vice President, Corporate Development and Investor Relations

Mr. Parsons joined Alamos Gold in 2013 and was appointed Senior Vice President, Corporate Development and Investor Relations in 2024, after previously serving as Vice President of Investor Relations since 2015. He possesses over 20 years of experience in capital markets, finance, and investor relations, primarily within the mining industry. Before his tenure at Alamos Gold, he worked as an Equity Research Associate and Analyst in the mining group at TD Securities.

Chris Bostwick, Senior Vice President, Technical Services

Mr. Bostwick brings over 30 years of experience in the global mining industry, including 19 years with Barrick Gold. He previously served as Senior Vice President of Technical Services at AuRico Gold. Before joining AuRico, he was seconded from Barrick to Highland Gold Mining, where he led the Capital Projects and Technical Services groups, and was Barrick Gold's Director of Evaluations and Capital Projects.

The emergence of cryptocurrencies, particularly Bitcoin, as an alternative store of value poses a clear emerging threat to Alamos Gold. As digital assets gain increasing acceptance among investors and institutions as a hedge against inflation and economic uncertainty, they compete directly with gold for investment capital. This shift could divert funds that would traditionally flow into physical gold or gold-backed assets, potentially exerting long-term downward pressure on gold prices and impacting Alamos Gold's revenue and profitability.

Alamos Gold Inc. (AGI) primarily operates in the gold mining industry, with its main product being gold, and some silver as a by-product.

The addressable market for Alamos Gold's main product, gold, is the global gold mining market.

• The global gold mining market was valued at approximately USD 215.49 billion in 2024 and is projected to grow to USD 314.68 billion by 2035, at a compound annual growth rate (CAGR) of 3.5% during the forecast period.
• Another estimate values the global gold mining market at around USD 267.87 billion in 2024, with a projection to reach approximately USD 402.34 billion by 2034, growing at a CAGR of roughly 3.9% between 2025 and 2034.
• Additionally, the gold mining market size was valued at USD 214.35 billion in 2024 and is expected to reach USD 282.26 billion by 2032, with a CAGR of 3.5% over the forecast period 2025-2032.
• The global gold mining market is also projected to exceed USD 250 billion in 2025.

Alamos Gold (AGI) is poised for future revenue growth over the next 2-3 years, driven primarily by increased gold production from key assets and strategic expansions:

• Increased Production from the Magino Mine: The acquisition of the Magino mine in July 2024 significantly boosted Alamos Gold's production capacity. For 2025, the company expects total gold production between 580,000 and 630,000 ounces, a 7% increase from 2024, partly due to a full year of production from Magino. This asset is being integrated with the Island Gold operation, expected to drive significant synergies and longer-term opportunities. Magino is projected to contribute substantially to the company's annual production, aiming for approximately 900,000 ounces per year company-wide in the long term.
• Island Gold Mine Phase 3+ Expansion: The ongoing Phase 3+ expansion at the Island Gold mine in Ontario is a crucial driver for future growth. This expansion is anticipated to be completed in the first half of 2026 and is expected to significantly increase underground mining rates and overall production from the Island Gold District. Production from the Island Gold District is projected to increase approximately 53% in 2025 and an additional 19% in 2026, contributing to a company-wide production target of 680,000 to 730,000 ounces by 2027. The expansion aims to nearly double the mine life, making it one of the largest and lowest-cost gold mines in Canada.
• Development of the Lynn Lake Project: The Lynn Lake project in Manitoba represents another significant organic growth opportunity. Construction for Lynn Lake commenced, with initial production expected to start in the first half of 2028. This project is anticipated to further boost company-wide production to approximately 900,000 ounces per year. While initial production is slated for slightly beyond the immediate 2-3 year window, the development phase directly supports future revenue growth.
• Continued Production from Mulatos District: The Mulatos District in Mexico, including the La Yaqui Grande operation, is expected to maintain strong contributions to Alamos Gold's overall production. The company anticipates additional production from Mulatos through residual leaching, contributing to the updated 2025 guidance. Development and expansion of the Puerto Del Aire project within the Mulatos district are continuing, with expectations to triple the Mulatos mine life to at least 2035.

Share Repurchases

• Alamos Gold renewed its Normal Course Issuer Bid (NCIB) program in December 2024, authorizing the repurchase of up to 18,605,661 Class A Common Shares, representing 5% of its public float, between December 24, 2024, and December 23, 2025.
• The company believes its shares are trading at a discount to their underlying value, and the buyback is intended to enhance shareholder value.
• Despite previous NCIB authorizations, Alamos Gold made no share repurchases under its program that ended on December 23, 2024, which had allowed for the repurchase of up to 34,485,405 shares.

Share Issuance

• Information regarding significant dollar amounts of share issuances by Alamos Gold over the last 3-5 years was not readily available in the search results.

Inbound Investments

• No significant inbound investments by third-parties into Alamos Gold were identified in the search results over the last 3-5 years.

Outbound Investments

• No instances where Alamos Gold made a strategic investment in another company were identified in the search results over the last 3-5 years.

Capital Expenditures

• Alamos Gold is aggressively investing in growth, with three projects currently under construction.
• The company is funding these projects through operating cash flow.
• Key projects include the Phase 3+ Expansion at Island Gold, expected to come online in the second half of 2026, and the Lynn Lake project.