Corporate PresentationMarch 2018

2

Cautionary Notes

This presentation, the information contained herein, any other materials provided in connection with this presentation and any oral remarks accompanying this presentation (collectively, this “Presentation”) has been prepared by Alamos Gold Inc. (“Alamos”) solely

for information purposes. No Stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. This presentation does not constitute an offering of securities and the information contained herein is

subject to the information contained in the Company’s continuous disclosure documents at www.sedar.com.

Cautionary NotesCertain statements in this presentation are “forward-looking statements”, including within the meaning of applicable laws. All statements other than statements of historical fact included in this presentation, including, without limitation, statements Alamos’ net asset

value, operating cash flow, free cash flow, forecast gold production, Mineral Reserves, Mineral Resources, exploration potential, gold grades, recoveries, waste-to-ore ratios, total cash cost, all-in sustaining costs, debt levels and future plans and objectives of Alamos

are forward-looking statements based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management that involve various risks and uncertainties. Any statements that express or involve discussions

with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”,

“plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might”, or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements.” Alamos cautions that

forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Alamos’ actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not

limited to, gold and silver price volatility; fluctuations in foreign exchange rates and interest rates; the impact of any hedging activities; discrepancies between actual and estimated production, between actual and estimated Mineral Reserves and Mineral Resources or

between actual and estimated metallurgical recoveries; costs of production; capital expenditure requirements; the costs and timing of construction and development of new deposits; and the success of exploration and permitting activities. In addition, the factors

described or referred to in the section entitled “Risk Factors” in Alamos’ Annual Information Form for the year ended December 31, 2016, which along with other documents setting out risk factors affecting the Company is available on the SEDAR website at

www.sedar.com, should be reviewed in conjunction with the information found in this presentation. Although Alamos has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained

in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management’s

expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking information.

Market data and other statistical information used throughout this Presentation are based on internal company research, independent industry publications, government publications, reports by market research firms or their published independent sources. Industry

publications, governmental publications, market research surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. Although Alamos believes such information is accurate and reliable, it has

not independently verified any of the data from third party sources cited or used for our management’s industry estimates, nor has Alamos ascertained the underlying economic assumptions relied upon therein. While Alamos believes internal company estimates are

reliable, such estimates have not been verified by any independent sources, and Alamos makes no representations as to the accuracy of such estimates.

Note to U.S. Investors

Alamos prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to Mineral Resources in this presentation are defined in accordance with National

Instrument 43-101 Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Unites States Securities and Exchange Commission

(the “SEC”) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Alamos may use certain terms, such as “Measured Mineral Resources”, “Indicated Mineral

Resources”, “Inferred Mineral Resources” and “Probable Mineral Reserves” that the SEC does not recognize (these terms may be used in this presentation and are included in the public filings of Alamos, which have been filed with the SEC and the securities

commissions or similar authorities in Canada).

Cautionary non-GAAP Measures and Additional GAAP Measures

Note that for purposes of this section, GAAP refers to IFRS. The Company believes that investors use certain non-GAAP and additional GAAP measures as indicators to assess gold mining companies. They are intended to provide additional information and should not

be considered in isolation or as a substitute for measures of performance prepared with GAAP.

“Cash flow from operating activities before changes in non-cash working capital” is a non-GAAP performance measure that could provide an indication of the Company’s ability to generate cash flows from operations, and is calculated by adding back the change in

non-cash working capital to “Cash provided by (used in) operating activities” as presented on the Company’s consolidated statements of cash flows. “Free cash flow” is a non-GAAP performance measure that is calculated as cash flows from operations net of cash

flows invested in mineral property, plant and equipment and exploration and evaluation assets as presented on the Company’s consolidated statements of cash flows and that would provide an indication of the Company’s ability to generate cash flows from its

mineral projects. “Mine site free cash flow” is a non-GAAP measure which includes cash flow from operating activities at, less capital expenditures at each mine site. Return on Equity is defined as Earnings from Continuing Operations divided by the average Total

Equity for the current and previous year. “Mining cost per tonne of ore” and “Cost per tonne of ore” are non-GAAP performance measures that could provide an indication of the mining and processing efficiency and effectiveness of the mine. These measures are

calculated by dividing the relevant mining and processing costs and total costs by the tonnes of ore processed in the period. “Cost per tonne of ore” is usually affected by operating efficiencies and waste-to-ore ratios in the period. “Total cash costs per ounce”, “all-in

sustaining costs per ounce”, and “mine-site all-in sustaining costs” as used in this analysis are non-GAAP terms typically used by gold mining companies to assess the level of gross margin available to the Company by subtracting these costs from the unit price realized

during the period. These non-GAAP terms are also used to assess the ability of a mining company to generate cash flow from operations. There may be some variation in the method of computation of these metrics as determined by the Company compared with

other mining companies. In this context, “total cash costs” reflects mining and processing costs allocated from in-process and dore inventory associated and associated royalties with ounces of gold sold in the period. Total cash costs per ounce are exclusive of

exploration costs. “All-in sustaining costs per ounce” include total cash costs, exploration, corporate and administrative, share based compensation and sustaining capital costs. “Mine-site all-in sustaining costs” include total cash costs, exploration, and sustaining

capital costs for the mine-site, but exclude an allocation of corporate and administrative and share based compensation.

Additional GAAP measures that are presented on the face of the Company’s consolidated statements of comprehensive income and are not meant to be a substitute for other subtotals or totals presented in accordance with IFRS, but rather should be evaluated in

conjunction with such IFRS measures. This includes “Earnings from operations”, which is intended to provide an indication of the Company’s operating performance, and represents the amount of earnings before net finance income/expense, foreign exchange

gain/loss, other income/loss, and income tax expense. Non-GAAP and additional GAAP measures do not have a standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other companies. A reconciliation of

historical non-GAAP and additional GAAP measures are available at www.alamosgold.com.

Technical Information

Chris Bostwick, FAusIMM, Alamos Gold’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this presentation. Chris Bostwick is a Qualified Person within the meaning of Canadian Securities

Administrator’s National Instrument 43-101 (“NI 43-101”). The Qualified Persons for the National Instrument 43-101 compliant mineral reserve and resource estimates are detailed in the tables in the appendix of this presentation. Information pertaining to the

geological and exploration content has been reviewed and approved by Aoife McGrath, Alamos' Vice President, Exploration, a Qualified Person.

All figures in US$ unless otherwise indicated.

3

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.2 Includes cash, cash equivalents and equity securities of as of December 31, 2017. Total liquidity also includes undrawn $400m credit facility.

Strong Platform for Delivering Long Term Value

Growing, diversified gold production

Expanding margins

Peer leading growth

Strong, debt free balance sheet

Track record of delivering shareholder value

• 480,000 – 520,000 oz from four North American mines

• $950/oz AISC1 in 2018, declining through 2020

• Portfolio of six low-cost development projects

• $237m cash2 & $637m total liquidity to support growth

4

$1,241

$1,103$1,062 $1,075

2015A 2016A 2017A 2018E

2015A 2016A 2017A 2018E

2017 Scorecard – Record Q4 & 2017 Performance

2015A 2016A 2017A

Operating revenues (US$M) $355.1 $482.2 $542.8

Cash provided by operations before changes in WC (US$M)1

$65.3 $148.0 $183.3

Cash flow per share (basic)1

$0.34 $0.56 $0.60

Mine-site free cash flow (US$M)1

($39.6) $35.4 $77.5

Growing production, declining costs, increasing profitability

429

$1,091

$1,010

$933 $950

2015A 2016A 2017A 2018E

Gold Production (000 oz)

AISC1,2 (US$/oz)

-6%

Cost of Sales1,3 (US$/oz)

-3%

+28%

392

480-520

380

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures. 2 Total consolidated all-in sustaining costs include corporate and administrative and share based compensation expenses. For the purposes of calculating all-in sustaining costs at individual mine sites, the Company does not include corporate and administrative and share based compensation expenses.3 Cost of sales includes mining and processing costs, royalties and amortization.

5

2017 Scorecard – Strong Outlook

Proven & Probable Mineral Reserves1,2

5.97.7

9.8

0

5

10

15

2015 2016 2017

14.2

18.5 19.7

0

5

10

15

20

25

2015 2016 2017

Ou

nce

s A

u (

Mill

ion

s)Y

ear

s

1 For more information, see press release dated February 21, 2018 “Alamos Reports Mineral Reserves and Resources for the Year-Ended 2017” and mineral reserve and resource estimates and associated footnotes in appendix.2 Year end 2017 Proven & Probable mineral reserves total 9.8 million ounces of gold (203.4 mt at 1.50 g/t Au).3 Mineral Reserve Life Index defined as year end mineral reserves divided by the mid point of 2017 gold production guidance (2015 = 5.9m oz/415k oz; 2016 = 7.7m oz/415k oz; 2017 = 9.8m oz/500k oz)

Mineral Reserve Life Index1,3

+67%

+5

2.1m ozIncrease in mineral reserves through Island Gold, La Yaqui Grande & Lynn Lake

La Yaqui initial production early

September ahead of schedule

Kirazlı site development underway

High quality,

long life reserve base

6

Canada57%Mexico

23%

Turkey20%

AĞI DAĞI (TURKEY) – Permitting3

Average Au Production 178koz

Mine-site AISC2 $411

After-tax IRR +39%

KIRAZLI (TURKEY) – Permitting3

Average Au Production 104 koz

Mine-site AISC2 $373/oz

After-tax IRR +44%

ÇAMYURT (TURKEY) – Permitting3

Average Au Production 93 koz

Mine-site AISC2 $645

After-tax IRR +253%

Top 10 North American Gold Producer

MULATOS (SONORA, MEXICO)

2018E Au Production 150-160 koz

2018E Au Mine-site AISC US$900/oz

EL CHANATE (SONORA, MEXICO)

2018E Au Production 40-50 koz

2018E Au Mine-site AISC US$1,200/oz

YOUNG-DAVIDSON (ONTARIO, CANADA)

2018E Au Production 200-210 koz

2018E Au Mine-site AISC US$850/oz

Producing Assets

Exploration / Development Assets

1 Source: Select street research2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.3 Average annual production and mine-site AISC for Turkish projects and Lynn Lake are detailed in economic studies completed in 2017.Note: Mineral resources are exclusive of mineral reserves. See mineral reserve and resource estimates and associated footnotes in appendix.

ISLAND GOLD (ONTARIO, CANADA)

2018E Au Production 90-100 koz

2018E Au Mine-site AISC US$825/oz

QUARTZ MOUNTAIN (USA) – Adv. Exploration

Total Au M&I Resources 0.3 Moz (12.2mt @ 0.87 g/t)

Total Au Inf. Resources 1.1 Moz (39.2mt @0.91 g/t)

ESPERANZA (MEXICO) – Permitting

Total Au M&I Resources 1.1 Moz (34.4mt @ 0.98 g/t)

LYNN LAKE (CANADA) – Permitting3

Average Au Production 143 koz (Years 1-10)

Mine-site AISC2 $745

After-tax IRR +13%

Asset NPV by Geography1

Asset NPV by Stage1

Production72%

Development28%

Canada60%

Mexico40%

North American

Production

7

Kirazlı

Ağı Dağı

Çamyurt

Lynn Lake

Permitting & Development

Young-Davidson

Stable Operating Base; Peer Leading Growth Profile

Island Gold

Mulatos

El Chanate

Mulatos District

Island Gold District

Esperanza

Quartz Mountain

>400 kozCombined annual production

growth potential

North American

Production

Exploration

Controlled, disciplined, multi-stage growth

44% After-tax IRR1

39% After-tax IRR1

253% After-tax IRR1

13% After-tax IRR1

~500 koz Stable, long-term production base;

declining cost profile

1 After-tax IRR for Turkish and Lynn Lake projects based on gold and silver prices of $1,250 and $16 per ounce, respectively. For more details, see press releases dated February 15 & 22, 2017 and December 14, 2017.

8

$237m

$400m

Strong Balance Sheet – Debt Free

1 Unaudited management estimate as of December 31, 2017.2 Cash, cash equivalents & equity securities as of December 31, 2017.3 Total liquidity includes cash, cash equivalents, equity securities and undrawn $400m credit facility for Alamos Gold as of December 31, 20174As of March 1, 20185Source: Factset and company reports. As of December 31, 2017 for companies that have reported 2017 financials as of March 1, 2018

$637m

As of December 31, 2017

Cash & Total Liquidity

Cash, cash equivalents & equity securitiesUndrawn Credit Facility

3

Net Cash / (Debt) (US$m)5

Cash & Cash Eq.1,2 US$237 million

Total Liquidity3 US$637 million

Total Debt US$0

Capital Structure

Shares Outstanding (Basic) 389.4 million

Shares Outstanding (Fully Diluted) 413.7 million

Recent Share Price (TSX)4 C$6.71

Market Capitalization ~C$2.6 billion

Balance Sheet

2

$414$274 $237 $193 $124 $83

-$42 -$167 -$167-$362

-$572-$678

-$792-$1,700

IMG SSRM AGI KL CG THO ELD DGC OGC AEM BTO K NGD YRI

9

551%

0%

272%

-50%

450%

950%

1450%

1950%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Alamos Gold Share Price (TSX)

S&P/TSX Global Gold Index

Gold (US$/oz)

Track Record of Delivering Shareholder Value

13%Annualized return

since 20031

$118m Dividends paid to

date

Consensus P/NAV – Compelling Valuation Opportunity2

1 As of March 1, 2018.2 Source: Factset consensus estimates as of March 1, 2018

1.63

1.40 1.35 1.331.22 1.20 1.13

1.07 1.02 1.01 0.98 0.970.91 0.86 0.85

0.76 0.70 0.690.56

NEM

AEM BTO K

L

Sen

ior

Ave

rage

PA

AS

OG

C G

Ave

rage

AB

X

YR

I K

SMF

NG

D

IMG

SSR

M

AG

I

THO

DG

C

10

Operations – Diversified North American Production

Long life reserve base

Declining costs & capital

Growing free cash flow

Growing production

11

Young-Davidson – Flagship, Long-Life Production

2016A 2017A 2018E

Gold Production (k oz) 170.0 200.0 200-210

Cost of Sales1 (US$/oz) $1,087 $1,078 $1,075

Total Cash Costs2,3 (US$/oz) $657 $658 $675

Mine-site AISC2,3 (US$/oz) $897 $834 $850

Total Capital (US$m) $95 $80 $70-80

Mine-site FCF2 (US$m) $4 $34

Location: Ontario, Canada Stage: Producing

Ownership: 100% interest Operation: Underground

Gold Reserves & Resources4 Tonnes (000)

Grade (g/t Au)

oz Au (000)

P&P Underground Reserves 40,011 2.67 3,440

M&I Underground Resources 11,374 3.53 1,291

Inferred Underground Resources 3,528 2.74 311

1 Cost of sales includes mining and processing costs, royalties and amortization.2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.3 Excludes Net Realizable Value (“NRV”) inventory adjustments. See associated MD&A for a full reconciliation.4 See mineral reserve and resource estimates and associated footnotes in appendix.

• One of Canada’s largest underground gold mines

• 14 year mine life based on YE 2017 mineral reserves

• Large resource base & exploration potential to support mine life extension

• Significant Canadian dollar exposure; ~95% of costs

12

$1,162$1,087 $1,078 $1,075

2015A 2016A 2017A 2018E

$986 $897 $834 $850

2015A 2016A 2017A 2018E2015A 2016A 2017A 2018E

-31%

$34m mine-site free cash flow1 generated in 2017

Young-Davidson – Ramp up of Underground Mining

-14%+28%~6,600 tpdAverage underground mining rate in 2017

-7%

>7,000 tpdaverage underground mining rate expected in 2018

1 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.2 Cost of sales includes mining and processing costs, royalties and amortization

Total Capital Spending (US$m)

Ton

ne

s p

er

day

g/t

Au

Mine-site AISC (US$/oz)1Production (000 oz)

Cost of Sales2 (US$/oz)

160 170200 200-210

2015A 2016A 2017A 2018E

$108$95

$80 $70-80

0

0.5

1

1.5

2

2.5

3

3.5

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Q1

/13

Q2

/13

Q3

/13

Q4

/13

Q1

/14

Q2

/14

Q3

/14

Q4

/14

Q1

/15

Q2

/15

Q3

/15

Q4

/15

Q1

/16

Q2

/16

Q3

/16

Q4

/16

Q1

/17

Q2

/17

Q3

/17

Q4

/17

Underground TPD Mill TPD Processed Grade

13

Island Gold – High-Grade, Low Cost Production

Location: Ontario, Canada Stage: Producing

Ownership: 100% interest Operation: Underground

Gold Reserves & Resources5 Tonnes (000)

Grade (g/t Au)

oz Au (000)

P&P Underground Reserves 2,703 10.20 887

M&I Underground Resources 591 5.86 111

Inferred Underground Resources 2,958 9.55 908

Highly Productive Gold Mining District2016A 2017A 2018E

Gold Production (k oz)1 83.3 98.6 90-100

Cost of Sales2 (US$/oz) - - $1,175

Total Cash Costs3 (US$/oz) $587 $470 $575

Mine-site AISC3 (US$/oz) $745 $599 $825

Total Capital4 (US$m) $43 $33 $50-55

Mine-site FCF3 (US$m) ($2) $26

1 Operating results from Island Gold prior to its acquisition has been included for comparative purposes. Production attributable to Alamos totals 9,000 oz in 2017 following the closing of the Richmont Mines acquisition on Nov. 23, 2017. 2 Cost of sales includes mining and processing costs, royalties and amortization.3 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.4 Excludes exploration5 See mineral reserve and resource estimates and associated footnotes in appendix.

0 50 100km

Marathon

Wawa

Hearst

Timmins

Iroquois Falls

Smooth Rock Falls

Eagle River, Wesdome

Borden, Goldcorp

Island Gold

Magino, Argonaut

Cote, IAMGOLD

Black Fox, McEwen

Timmins West, Tahoe

Holloway, Kirkland Lake

Porcupine, Goldcorp

Bell Creek, Tahoe

Young-Davidson

Macassa, Kirkland Lake

Holt, Kirkland Lake

Lake Superior

ONTARIO

Hemlo, Barrick

144

101

17

17

11

101

Mine/ProjectCity

Dome Mine, Goldcorp

Hoyle Pond, Goldcorp

Cochrane

Pamour (PJV), Goldcorp

Taylor, Kirkland Lake

Detour Lake Mine, Detour Gold

>25 Moz gold produced3

>35 Moz in defined reserves

• One of Canada’s highest grade & lowest cost gold mines

• PEA expansion to drive production higher & costs lower

• Significant upside potential reflecting inclusion of all mineral resources & ongoing exploration success

• Significant exploration potential laterally & at depth

14

Island Gold – Growing Production, Declining Costs

Mineral Reserve Grade (g/t Au)1

1 Source: Company filingsPlease refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.2 Note: 2019 estimates for Island Gold are based on 2017 PEA.

20.8

14.6

10.29.2 8.8 8.4 8.3

7.7 7.36.4 6.1

4.6 4.5 4.3 4.3 4.23.6

2.7

1.1 1.0

Mac

assa

Bru

ceja

ck

Isla

nd

Go

ld

Eagl

e R

ive

r

We

stw

oo

d

Seab

ee

Re

d L

ake

Ho

pe

Bay

Me

liad

ine

Mu

sse

lwh

ite

Ele

on

ore

Lap

a

LaR

on

de

Cas

a B

era

rdi

Bla

ck F

ox

Be

ll C

ree

k

Tim

min

s W

est

Yo

un

g-D

avid

son

Can

adia

n M

alar

tic

De

tou

r La

ke

98.6 90-100

138

$599

$825

$655

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

0

50

100

150

200

250

300

2017A 2018E 2019E

Gold Production (k oz) AISC (US$/oz)

+45%

PEA Expansion: Island Gold Operating Profile2

45%expected production

growth in 2019

Significant upside potential >800 koz of Inferred resources not factored into

mine plan + ongoing exploration potential

-21%expected decrease in

LOM AISC in 2019

15

Island Gold – Growing in Size & Quality

EXPANSION CASE PEA AREA

EXPANSION CASE PEA AREA

Proven Reserves (2017)

Probable Reserves (2017)

Indicated Resources (2017)

Inferred Resources (2017)

Ramp and Actual Development

Mined Out

Similar grades seen down plunge to southeast as were seen in early drilling within Expansion PEA area. Area being targeted now is of similar size.

Dec 31, 2010 Dec 31, 2017

172 141 144 184

562 752

887

154 111 233 219

72

91

111

67

564

1,037 1,003 768

996 908

4

5

6

7

8

9

10

11

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2011 2012 2013 2014 2015 2016 2017

+383%Increase in mineral

reserves since 2014

+60%Mineral reserve grade

increase since 2014

oz

Au

Gra

de

(g/t

Au

)

Mineral Reserves & Resources Over Time (koz)

1 See mineral reserve and resource estimates and associated footnotes in appendix.2 Includes Proven & Probable reserves of 887,000 oz (2.7 mt at 10.20 g/t Au), Measured & Indicated resources of 111,000 oz (0.6 mt at 5.86 g/t Au) & Inferred resources of 908,000 oz (3.0 mt at 9.55 g/t Au)

200 m

200 m

Drill Hole Intersections

Au g/t / Core length (true width) m

Mineral Reserve grade

Reserves

M&I Resources

Inferred Resources

1,2

16

Island Gold – Significant Ongoing Exploration Potential

- 1 000 m

- 500 m

620 m Level PlannedExploration drift

190 m Level

340 m Level

Drillhole Intersection

Au (cut 225 g/t)Drillhole Intersection

Au (cut 70 g/t)

860 m Level PlannedExploration Drift

Dyk

e

740 m LevelExplo. & DelineationDrift

W GOUDREAULOCHALSH ISLAND EXT1 EXT2

Crown pillar

ESurface

200 m

- 1 500 m

LC-415-04

23.00/2.27

MH10-1

9.71/2.42

MH9-1

6.79/2.31

MH10

4.82/3.22

MH11-3

(Dyked out)

MH11

13.32/12.18

MH11-2

9.38/4.27

MH11-1

8.07/7.03

620-574-23

8.86/3.53

620-574-32

13.57/2.31

620-574-39

6.83/3.63620-574-21

8.41/2.46

620-574-17

9.14/2.69

340-586-21

20.15/2.44

MH9-3

(Dyked out)

MH1-11

(X zone)

20.78/1.28

MH1-10

24.54/3.76

MH7 (C zone)

2.35/3.53

MH7 (X zone)

17.85/1.68

MH2A-13

8.86/6.39

MH2A-12

11.67/9.42

MH8

4.60/2.24 MH8-4

19.85/8.40

GD-640-05

14.16/17.5 c.l.

GD-640-05-1

10.16/5.74 c.l.

GD-640-05-1

16.10/8.33 c.l.

GD-640-05-3

4.62/2.21

GD-640-05-5

58.34/0.43

GD-640-05-3

13.81/5.20 c.l.

740-465-63

10.58/5.44

840-533-12

15.39/3.17

840-533-05

13.98/2.93

840-529-42

4.71/7.60

840-529-35

19.35/4.14

740-465-45 (X Zone)

22.28/7.71

MH9-4

(Dyked out)

LC-15-04

5.12/3.53

620-574-36

6.44/3.10

Proven Reserves (2017)

Probable Reserves (2017)

Indicated Resources (2017)

Inferred Resources (2017)

Ramp and Actual Development

Mined Out

> 15

8.0 to 15.0

3.7 to 8.0

< 3.7

Drill Hole Intersections

Au g/t / true width (m)

c.l. : Core length (m)

All Exploration Intersections & all

2016-2018 Delineation Intersections

MH9-2

5.05/2.56

MH10-3

11.36/3.57

MH10-2

17.67/2.30

840-529-37

13.63/4.11840-529-43

24.75/4.04

MH9-3 (X Zone)

16.11/1.98

Mineralized

intercepts

not yet

included in

resource

calculations.

One area of

exploration

focus in

2018

Phase I Expansion

PEA Area

17

Mulatos – Our Founding Operation

Location: Sonora, Mexico Stage: Producing

Ownership: 100% interestOperation: Open pit, heap leach & high grade mill

2016A 2017A 2018E

Gold Production (k oz) 154.0 160.0 150-160

Cost of Sales1 (US$/oz) $1,088 $961 $950

Total Cash Costs2 (US$/oz) $838 $775 $800

Mine-site AISC2 (US$/oz) $916 $835 $900

Total Capital3 (US$m) $33 $44 $26-30

Mine-site FCF2,4 (US$m) $27 $33

Gold Reserves & Resources5 Tonnes (000)

Grade (g/t Au)

oz Au(000)

P&P Reserves 49,860 1.18 1,888

M&I Resources 74,958 1.13 2,731

Inferred Resources 10,278 0.97 322

1 Cost of sales includes mining and processing costs, royalties and amortization.2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.3 Capital spending guidance for 2018 excludes capitalized exploration. 5 See mineral reserve and resource estimates and associated footnotes in appendix.

• Initial production 2005

• ~$400m of free cash flow1 generated to date

• Declining cost profile; 5% NSR royalty nearing completion

• Large underexplored land package (28,773 ha)

18

220 259

778 879

47

115

156

236

-

200

400

600

800

1,000

1,200

2014 2015 2016 2017

La Yaqui & Cerro Pelon

Mulatos – District Exploration Potential

1 See mineral reserve and resource estimates and associated footnotes in appendix.2 Includes Proven & Probable reserves of 709,000 oz (15.8 mt at 1.40 g/t Au), Measured & Indicated resources of 109,000 oz (3.0 mt at 1.11 g/t Au) & Inferred resources of 9,000 oz (0.3 mt at 0.97 g/t Au) for La Yaqui and Proven & Probable reserves of 170,000 oz (3.3 mt at 1.63 g/t Au), Measured & Indicated resources of 47,000 oz (0.6 mt at 2.56 g/t Au) & Inferred resources of 4,000 oz (0.1 mt at 1.23 g/t Au) for Cerro Pelon.

District potentialLarge underexplored land package; >70% of past

drilling focused near Mulatos mine

Mulatos District

Mulatos mine

Proven & Probable Mineral Reserves

Inferred Mineral Resources

Measured & Indicated Mineral Resources

1,2

La Yaqui Phase I

La Yaqui Grande

879k ozCombined mineral reserves1,2 at La Yaqui & Cerro

Pelon, a 300% increase since 2014

19

El Chanate – Consistent Gold Producer

Location: Sonora, Mexico Stage: Producing

Ownership: 100% interest Operation: Open pit, heap leach

Gold Reserves & Resources4 Tonnes (000)

Grade (g/t Au)

oz Au(000)

P&P Reserves – Open Pit 2,700 0.63 54

P&P Reserves – Leach Pad Inventory - - 80

M&I Resources 5,757 0.72 134

2016A 2017A 2018E

Gold Production (k oz) 68.0 60.4 40-50

Cost of Sales1 (US$/oz) $1,177 $1,259 $1,270

Total Cash Costs2,3 (US$/oz) $1,052 $1,188 $1,200

Mine-site AISC2,3 (US$/oz) $1,069 $1,218 $1,200

Total Capital (US$m) $1 $1 -

Mine-site FCF2 (US$m) $5 $3

1 Cost of sales includes mining and processing costs, royalties and amortization.2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.3 Excludes Net Realizable Value (“NRV”) inventory adjustments. See associated MD&A for a full reconciliation.4 See mineral reserve and resource estimates and associated footnotes in appendix.5 El Chanate’s 2017 and 2018 production has been hedged through gold collar contracts which ensure a minimum gold price of $1,270 per ounce and participation up to $1,444 per ounce in 2018.

• $3m site free cash flow2 generated in 2017

• $1,270/oz minimum realized gold price in 2018 with production hedged5

• Significant free cash flow at end of mine life through residual leaching

20

Development – Peer Leading Growth Profile

Low cost, low capital intensity growth

Capacity to doublecurrent rate of production

6 development projects

21

Development: Kirazlı, Ağı Dağı & Çamyurt

Location: Turkey Stage: Development

Ownership: 100% interest Operation: Open pit, heap leach

• Kirazlı & Ağı Dağı EIAs approved

• Kirazlı Forestry Permits granted January 2017

• Kirazlı & Ağı Dağı feasibility studies completed February 20171 outlining 185% increase in combined after-tax NPV8%

• Tax incentives & mining law supportive of industry

1 Please refer to press releases dated Feb 15 and Feb 22, 2017 regarding Kirazli & Agi Dagi feasibility studies & Camyurt preliminary economic assessment. The 185% increase is compared to the 2012 pre-feasibility study2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

>39%After-tax IRR for each of Kirazlı, Ağı

Dağı & Çamyurt1

Low cost, high returngrowth

2017 Positive Economic Studies1Kirazlı

Feasibility Study

Ağı Dağı Feasibility

Study

ÇamyurtPEA

Mine Life Years 5 6 4

Average Annual Productionoz Au 104,000 177,600 93,200

oz Ag 617,300 444,200 403,000

Average grade g/t Au 0.79 0.67 0.92

Mine-site AISC2 US$m $373 $411 $645

Initial Capex US$m $152 $250 $10

Total Capex US$m $180 $313 $26

After-tax NPV5% US$m $223 $360 $111

After-tax NPV8% US$m $187 $298 $86

After-tax IRR % 44% 39% 253%

Gold Price Assumption US$/oz $1,250 $1,250 $1,250

22

Quartz Mountain

Location: Oregon, United States

Ownership: Right to earn a 100% interest4

Stage: Advanced Exploration

Esperanza

Location: Morelos State, Mexico

Ownership: 100% interest

Stage: Development

Operation: Open pit, heap leach

Development: Lynn Lake, Esperanza & Quartz Mountain

1 Lynn Lake December 2017 feasibility study based on gold and silver price assumptions of $1250 and $16 per ounce, respectively. See press release dated December 14, 2017 for more details.2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.3 Historic column recovery tests for gold at Quartz Mountain varied between 74% and 88% for the felsic rock hosted mineralization; see Orsa Ventures press release dated February 12, 20134 See mineral reserve and resource estimates and associated footnotes in appendix.5 Additional C$3m due on completion of feasibility study & C$15m or 2% NSR upon successful permitting

Lynn Lake

Location: Manitoba, Canada

Ownership: 100% interest

Stage: Permitting

Operation: Open pit

Tonnes Grade Oz Au

(000) (g/t Au) (g/t Ag) (000 Au) (000 Ag)

M&I Resources4 34,352 0.98 8.09 1,083 8,936

Inf. Resources 718 0.80 15.04 18 347

Tonnes Grade Oz Au

(000) (g/t Au) (000 Au)

M&I Resources4 12,156 0.87 339

Inferred Resources 39,205 0.91 1,147

• Excellent infrastructure; low technical risk

• Low capital intensity & operating costs

• Average annual production potential > 100k oz

• AISC expected to be lowest quartile2

• Located on northern extension of prolific Basin & Range Province of Nevada

• Low strip ratio, favourable metallurgy3

• Acquisition cost $3.5m5

• High grade, open pit with significant exploration potential

• Existing infrastructure in place

• Low cost hydroelectric power

• Feasibility study results announced Dec 20171

• Average production: 143 koz (Years 1-10)• LOM Mine-site AISC2: $745• After-tax NPV5%: $123m; IRR: 13%

Tonnes Grade Oz Au

(000) (g/t Au) (g/t Ag) (000 Au) (000 Ag)

P&P Reserves4 26,803 1.89 2.99 1,625 2,578

M&I Resources4 7,972 1.91 4.77 490 667

Inf. Resources 45,923 1.11 2.80 1,646 67

23

Alamos – Investment Case

Catalysts

Diversified intermediate gold producer

Low-cost growth profile

Strong balance sheet to support growth

Long term track record of delivering shareholder value

Q3 2017: Initial production at La Yaqui

Q4 2017: Closing of Richmont acquisition

Q4 2017: Met consolidated 2017 production guidance

Q1 2018: 28% increase in combined mineral reserves

2018: Ongoing exploration at Island Gold and Mulatos

2018: Receipt of GSM permit for Kirazlı

H2 2018: Completion of Phase I Mill Expansion at Island Gold

24

Appendices

25

Board of Directors and Executive and Management Team

Board of Directors

Executive and Management Team

Paul J. Murphy John A.

McCluskey Mark J. Daniel

Patrick D. Downey

David Fleck David GowerClaire M. C.

KennedyRonald E. Smith Kenneth Stowe

Chairman Director Director Director Director Director Director Director Director

John A. McCluskey Jamie Porter Peter MacPhail Christine Barwell Chris Bostwick Luis Chavez

President and CEO Chief Financial Officer Chief Operating Officer VP, Human Resources VP, Technical Services Senior VP, Mexico

Andrew Cormier Nils Engelstad Greg Fisher Aoife McGrath Scott Parsons Colin Webster

VP, Development & Construction VP, General Counsel VP, Finance VP, Exploration VP, Investor Relations VP Sustainability & External Affairs

26

Sustainability

• Our Objectives

• As we pursue further growth, we will continue to measure our success as an

organization by our performance in achievement of our sustainability objectives:

• Protecting the health and well-being of our employees

• Creating shared value with our host communities and countries

• Ensuring that our operations are net-positive for the environment

• Over the years, Alamos has been recognized for its achievements in these areas:

Clean Industry Certification from PROFEPA

• Alamos was certified as an Industria Limpia (clean industry)

in recognition of the excellence of environmental management

at Mulatos

CSR Award from Mexican Center for Philanthropy (CEMEFI)

• Signifies exceptional record of CSR performance;

• 2016 marked the 8th consecutive year for Alamos

27

2018 Guidance – Alamos

2018 Guidance 2017 GuidanceYoung-

DavidsonIsland Gold Mulatos El Chanate Total Total

Gold production (000’s ounces) 200-210 90-100 150-160 40-50 480-520 429 (actual)

Cost of Sales (in millions) (4) $220 $112 $147 $57 $536 $442

Cost of Sales ($ per ounce) (4) $1,075 $1,175 $950 $1,270 $1,075 $1,065

Total cash costs ($ per ounce) (1) $675 $575 $800 $1,200 $740 $765All-in sustaining costs ($ per ounce) (1) $950 $940

Mine-site all-in sustaining costs ($ per ounce) (1),(3) $850 $825 $900 $1,200 - -Capital expenditures (in millions)

Sustaining capital(1) $35-40 $25-27 $8-10 - $68-77 $40-47Growth capital(1) $35-40 $25-28(2) $18-20 (2) - $78-88 $65-75Total capital(1) $70-80 $50-55 $26-30 - $146-165 $105-122

Corporate & Administrative (in millions) $18 $16

1. Refer to the “Cautionary non-GAAP Measures and Additional GAAP Measures” disclosure.

2. Excludes capitalized exploration.

3. For the purposes of calculating mine-site all-in sustaining costs at individual mine sites, the Company does not include an allocation of corporate and administrative and share based compensation expenses to the mine sites.

4. Cost of sales includes mining and processing costs, royalties, and amortization expense

2018 Guidance 2017 GuidanceSustaining Capital Growth Capital Total Total

Development Projects (in millions)

Turkey - $100 $100 $4

Lynn Lake - $8 $8 $9

La Yaqui Grande & Cerro Pelon - $13 $13 -

Esperanza & Quartz Mountain - $2 $2 $3

Total – Development Projects - $123 $123 $16

Capitalized Exploration (in millions)

Island Gold - $12 $12 -

Mulatos - $7 $7 $15

Lynn Lake - $4 $4 $4

Total – Capitalized Exploration - $23 $23 $19

Total Consolidated Budget $68-77 $224-234 $292-311 $140-157

28

Young-Davidson – Increasing Grade & Productivity

1 Cost of sales includes mining and processing costs, royalties and amortization.2 Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.3 Excludes Net Realizable Value (“NRV”) inventory adjustments. See associated MD&A for a full reconciliation.4 Excludes hydro rebate not attributable to Q4/15

Underground ramp up driving production higher and unit costs lower

Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17

Gold production (oz) 35,104 40,166 40,538 40,945 38,098 39,365 38,201 44,694 39,065 42,644 43,629 44,662 40,400 47,300 55,800 56,500

Cost of sales1 (US$/oz) $1,677 $1,625 $1,370 $1,211 $1,216 $1,298 $1,165 $986 $1,058 $1,182 $1,032 $1,077 $1,148 $1,113 $966 $1,107

Total cash costs per oz. (2,3) $1,009 $871 $723 $719 $745 $697 $681 $617 $616 $738 $607 $667 $710 $677 $572 $690

Mine-site AISC per oz.(2,3) $1,315 $1,144 $959 $912 $987 $1,008 $979 $980 $846 $965 $849 $926 $851 $895 $ 744 $859

Underground mine

Tonnes mined per day 2,611 3,595 3,753 4,140 4,130 5,149 5,081 5,911 5,776 6,123 5,467 6,675 6,400 6,377 6,544 7,227

Grades (g/t) 2.8 3.3 3.1 3.0 3.0 2.6 2.6 2.6 2.6 2.4 2.8 2.4 2.6 2.6 2.9 2.7

Development metres 3,772 3,545 3,269 3,438 3,409 3,789 3,619 3,769 3,490 3,168 2,677 3,044 3,242 3,425 3,344 2,776

Unit UG mining costs (US$) $46 $45 $41 $39 $39 $33 $32 $294 $31 $34 $34 $32 $36 $33 $34 $34

Unit UG mining costs (CAD$) $51 $49 $45 $44 $48 $41 $41 $384 $42 $44 $45 $42 $47 $44 $43 $44

Mill processing facility

Tonnes processed per day 7,163 8,230 7,670 7,757 7,186 7,677 7,680 7,630 7,342 7,006 6,833 7,552 7,718 6,917 7,553 7,786

Grades (inc. OP stockpile) 1.8 2.2 1.9 2.0 2.0 2.0 1.9 2.2 2.1 2.1 2.4 2.2 2.2 2.5 2.7 2.6

Recoveries (%) 87% 88% 90% 88% 86% 88% 92% 91% 90% 92% 93% 90% 89% 92% 93% 92%

Un

der

gro

un

d T

PD

Go

ld p

rod

uct

ion

(o

z)

2,000

3,000

4,000

5,000

6,000

7,000

8,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

55,000

60,000

Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17

29

2016 2017 2018 2019 2020

Commissioning of MCM shaft

Transition to 100% owner development

Ramp up to 7,000 tpd

Raise boring of lower NG shaft

Completion of MCM waste pass

• Shaft bottom infrastructure

• Northgate shaft –changeover to shaft bottom

• Northgate shaft hoisting from 8900L

Young-Davidson – Development Schedule

Please refer to Cautionary Notes on non-GAAP Measures and Additional GAAP Measures.

Declining capital intensity

30

Young-Davidson – Long Section

Declining capital intensity

Higher underground mining rates – stronger production

Strong free cash flow growth

Development of lower mine infrastructure to support:

Productivity improvements –lower costs

31

Island Gold – Regional Exploration

32

Island Gold – Significant Exploration Potential

Gold Metal Factor (Grade x True Width) - C & E1E Zones as of March 31, 2017

Significant exploration potential laterally &

at depth

>750 k oz of Inferred mineral resources

not included in PEA expansion plan

33

Island Gold – Ongoing Exploration Success

Gold Metal Factor (Grade x True Width) - C & E1E Zones as of January 10, 2018

Delineation drilling within C-Zone94.97 g/t Au over 3.83 m (840-529-24)62.85 g/t Au over 4.72 m (840-529-13)109.01 g/t Au over 2.55 m (840-524-23)14.82 g/t Au over 10.03 m (860-509-10)

Exploration drilling13.32 g/t Au over 12.18 m (MH11, E1E Zone)10.58 g/t Au over 5.44 m (740-465-63, C Zone)23.71 g/t Au over 2.86 m (840-524-18, C Zone)25.92 g/t Au over 6.80 m (340-587-02, G6 Zone)22.28 g/t Au over 7.71 m (740-465-45, X Zone)

Grades & average thickness

increasing at depth

Less than 15% of land

package drilled1 For further details, refer to press release dated Jan 11, 2018 “Alamos Reports Fourth Quarter 2017 Production and Provides 2018 Outlook”

New highlight intercepts since July 20171

34

Island Gold – 2018 Drilling Program

Significant Exploration Potential at Depth and to the East

W E

200 m

PEA AREA

- 1 000 m

Surface

Surface Directional Drilling Exploration (15,000m)

MH7 (X zone)

17.85/1.68

- 500 m

LC-415-04

17.31/1.78

GOUDREAULOCHALSH ISLAND EXT1 EXT2

Crown pillar21 Zone UG (1,500m)

Shaft ZoneUG (3,500m)

340 & 620 levelsUG (15,000m)

840 LevelUG (8,000m)

RM & Access UG (2,000m)

Proven Reserves (2017)

Probable Reserves (2017)

Indicated Resources (2017)

Inferred Resources (2017)

Ramp and Actual Development

Mined Out

Surface Directional Drilling Infill (6,000m)Exploration (10,000m)

35

Mulatos District

36

Kirazlı, Ağı Dağı & Çamyurt Economic Studies – 2017

Feasibility Study - 2017 Preliminary Economic Assessment - 2017

Kirazlı Ağı Dağı ÇamyurtProduction

Mine life (years) 5 6 4

Total gold production (ounces) 540,000 937,300 373,200

Total silver production (ounces) 3,141,000 2,365,200 1,612,600

Average annual production (ounces)1

Gold 104,000 177,600 93,200

Silver 617,300 444,200 403,000

Total ore mined (tonnes) 26,100,000 54,361,000 16,580,000

Total waste mined (tonnes) 37,900,000 55,893,000 30,874,000

Total material mined (tonnes) 64,000,000 110,254,000 47,454,000

Waste-to-ore ratio2 1.45 1.03 1.86

Average grade (grams per tonne)

Gold 0.79 0.67 0.92

Silver 12.0 5.4 6.3

Recovery (%)

Gold 81% 80% 76%

Silver 31% 25% 48%

Average throughput (tpd) 15,000 30,000 15,000

Operating Costs

Total cost per tonne of ore3 $8.49 $6.46 $14.03

Total cash cost (per ounce sold)4 $339 $374 $604

Mine-site all-in sustaining cost (per ounce sold)4 $373 $411 $645

Capital Costs (millions)

Pre-production capital expenditure $151.9 $250.3 $10.2

Sustaining capital expenditure $18.1 $33.9 $9.4

Reclamation costs (net of salvage value) $9.9 $28.8 $5.9

Total capital expenditure $179.8 $312.9 $25.5

Economic Analysis

IRR (after-tax) 44.3% 38.7% 253.0%

NPV @ 0% discount rate (after-tax, millions) $299.3 $492.8 $173.8

NPV @ 5% discount rate (after-tax millions) $222.9 $360.2 $111.4

NPV @ 8% discount rate (after-tax, millions) $186.5 $297.6 $86.2

Gold price assumption (average, per ounce sold) $1,250 $1,250 $1,250

Silver price assumption (average, per ounce sold) $16.00 $16.00 $16.00

Exchange Rate (Turkish Lira/US Dollar) 2.90:1 2.90:1 2.90:1

1 Average annual production is based on five full years of production for Kirazlı and Ağı Dağı and excludes pre-commercial production2 Reported waste-to-ore ratio is over the life of mine. The waste-to-ore ratio during commercial production is 0.70:1 for Ağı Dağı and 1.19:1 for Kirazlı in the 2017 feasibility study3 Total unit cost per tonne of ore excludes silver as a by-product credit 4 Total cash costs and mine-site all-in sustaining costs include silver as a by-product credit

37

Lynn Lake Feasibility Study – 2017

Feasibility Study Highlights - December 2017Production Mine life (years) 10.4

Total gold production (000 ounces) 1,495Total silver production (000 ounces) 1,263

Average annual gold production1

Years 1 to 6 (000 ounces) 170Years 1 to 10 (000 ounces) 143

Total ore mined (000 tonnes) 26,803Total waste mined (000 tonnes) 195,188Total material mined (000 tonnes) 221,991

Waste-to-ore ratio2 7.28

Average grade (grams per tonne)Gold 1.89Silver 2.99

Recovery (%)Gold (Average MacLellan and Gordon) 92%Silver (MacLellan only) 49%

Average mill throughput (tonnes per day (“tpd”)) 7,000

Operating CostsTotal cost per tonne of ore3 $36.06

Total cash cost (per ounce sold)4 $645 Mine-site all-in sustaining cost (per ounce sold)4 $745

Capital Costs (millions)Pre-production capital expenditure $338.0Sustaining capital expenditure $126.6Reclamation costs $21.1

Total capital expenditure $485.6

Base Case Economic Analysis IRR (after-tax) 12.5%

NPV @ 0% discount rate (millions, after-tax) $279.0 NPV @ 5% discount rate (millions, after-tax) $123.4

Gold price assumption (average, per ounce sold) $1,250Silver price assumption (average, per ounce sold) $16.00Exchange Rate (US Dollar/Canadian Dollar) 0.751. Average annual production excludes pre-commercial production2. Reported waste-to-ore ratio is over the life of mine and includes overburden as waste. The waste-to-ore ratio during commercial production is 7.06:1 3. Total unit cost per tonne (“t”) of ore includes royalties and silver as a by-product credit4. Total cash costs and mine-site all-in sustaining costs include royalties and silver as a by-product credit

38

Island Gold – Phase I Expansion PEA Summary

2017 2018 2019 2020 2021 2022 2023 2024 TOTAL

MINING

Tonnes Mined T 364,600 370,000 405,900 408,100 401,500 402,300 401,500 342,800 3,096,700

Tonnes Mined TPD 999 1,014 1,112 1,118 1,100 1,102 1,100 939 1,061

Grade Mined g/t Au 8.13 8.35 11.01 8.56 11.12 11.65 10.06 8.09 9.68

MILLING

Tonnes Milled T 333,100 356,500 401,500 402,600 401,500 401,500 401,500 394,300 3,092,500

Tonnes Milled TPD 913 977 1,100 1,103 1,100 1,100 1,100 1,080 1,059

Grade Milled g/t Au 8.75 8.55 11.09 8.63 11.12 11.67 10.06 7.03 9.66

Recovery % 96.50 96.00 96.50 96.50 96.50 96.50 96.50 96.50 96.44

Gold Produced oz 90,400 94,000 138,200 107,800 138,600 145,400 125,400 86,000 925,800

COSTS C$

Mining Costs $/t milled 140 140 139 139 128 120 117 110 129

Milling Costs $/t milled 30 29 28 27 28 28 28 28 28

G&A $/t milled 19 18 16 16 15 15 15 13 16

Royalties $1550 Gold Price $/t milled 15 14 19 15 19 20 17 12 16

Total Operating Costs $/t milled 204 201 202 197 190 183 177 163 189

Total Cash Costs C$/oz 751 764 585 735 551 506 567 743 646

AISC C$/oz 993 1,189 884 1,097 655 544 601 760 832

Sustaining Capex C$ x 000 21,827 39,945 41,201 38,979 14,379 5,552 4,187 1,467 167,537

Growth Capex C$ x 000 35,918 27,373 1,071 1,790 1,513 486 - - 68,152

COSTS US$1

Total Cash Costs US$/oz 556 566 434 544 408 375 420 550 479

AISC US$/oz 735 881 655 812 485 403 445 563 616

Sustaining Capex US$ x 000 16,168 29,589 30,520 28,873 10,651 4,112 3,101 1,086 124,101

Growth Capex US$ x 000 26,606 20,277 793 1,326 1,121 360 - - 50,483

1 Exchange rate: 1.35 C$ to 1.00 US$. Please refer to the press release entitled “Richmont Mines Reports Strong Results from the Island Gold Mine Expansion Case Preliminary Economic Assessment” datedMay 29, 2017, filed on SEDAR

39

2017 Proven & Probable Mineral Reserves

PROVEN AND PROBABLE GOLD MINERAL RESERVES (as at December 31, 2017)Proven Reserves Probable Reserves Total Proven and Probable

Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces(000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's)

Young-Davidson - Surface 857 0.98 27 - - - 857 0.98 27Young-Davidson - Underground 14,688 2.75 1,298 25,323 2.63 2,142 40,011 2.67 3,440Total Young-Davidson 15,545 2.65 1,325 25,323 2.63 2,142 40,868 2.64 3,467Island Gold 807 11.14 289 1,896 9.81 598 2,703 10.20 887Mulatos Main Pits 3,249 1.00 105 18,695 0.86 519 21,944 0.88 624San Carlos Underground 29 13.27 12 11 8.72 3 39 12.05 15Stockpiles 8,855 1.30 370 0 0.00 0 8,855 1.30 370La Yaqui 374 1.49 18 1,070 1.36 47 1,444 1.39 65La Yaqui Grande 0 0.00 0 14,325 1.40 644 14,325 1.40 644Cerro Pelon 960 1.70 53 2,293 1.59 117 3,253 1.63 170Total Mulatos 13,467 1.29 558 36,394 1.14 1,329 49,860 1.18 1,888El Chanate - Open Pit 1,209 0.60 23 1,492 0.65 31 2,700 0.63 54El Chanate - Leach Pad Inv. - - 80 - - - - - 80Total El Chanate 1,209 - 104 1,492 - 31 2,700 - 135MacLellan 9,552 1.91 586 8,528 1.32 361 18,080 1.63 947Gordon 2,311 2.82 210 6,412 2.27 468 8,723 2.42 678Total Lynn Lake 11,863 2.09 796 14,939 1.73 829 26,803 1.89 1,625Ağı Dağı 1,450 0.76 36 52,911 0.66 1,130 54,361 0.67 1,166Kirazlı 700 1.25 28 25,404 0.78 637 26,104 0.79 665Total Turkey 2,150 0.93 64 78,315 0.70 1,767 80,465 0.71 1,831Alamos - Total 45,040 2.17 3,135 158,359 1.32 6,697 203,399 1.50 9,832

PROVEN AND PROBABLE SILVER MINERAL RESERVES (as at Dec 31, 2017)

Proven Reserves Probable Reserves Total Proven and Probable

Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces

(000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's)

La Yaqui 374 8.62 104 1,070 7.19 247 1,444 7.56 351

La Yaqui Grande - - - 14,325 17.05 7,853 14,325 17.05 7,853

MacLellan 9,552 5.01 1,538 8,528 3.79 1,040 18,080 4.44 2,578

Ağı Dağı 1,450 6.22 290 52,911 5.39 9,169 54,361 5.41 9,459

Kirazlı 700 15.90 358 25,404 11.90 9,720 26,104 12.01 10,078

Alamos - Total 12,076 5.90 2,290 102,238 8.53 28,029 114,314 8.25 30,319

40

2017 Total Measured & Indicated Mineral Resources

MEASURED AND INDICATED GOLD MINERAL RESOURCES (as at Dec 31, 2017)Measured Resources Indicated Resources Total Measured and Indicated

Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces(000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's)

Young-Davidson - Surface 496 1.13 18 1,242 1.28 51 1,739 1.24 69Young-Davidson - Underground 7,411 3.30 785 3,964 3.97 506 11,374 3.53 1,291Total Young-Davidson 7,907 3.16 803 5,206 3.33 557 13,113 3.23 1,361Island Gold 48 4.46 7 542 5.98 104 591 5.86 111Mulatos 7,963 1.25 321 61,504 1.08 2,140 69,467 1.10 2,461San Carlos UG 167 4.88 26 351 4.58 52 519 4.68 78La Yaqui 0 - 0 3,045 1.11 109 3,045 1.11 109Cerro Pelon 117 2.75 10 455 2.52 37 572 2.56 47Carricito 58 0.82 2 1,297 0.82 34 1,355 0.83 36Total Mulatos 8,305 1.35 359 66,652 1.11 2,372 74,958 1.13 2,731El Chanate 2,381 0.62 47 3,376 0.79 86 5,757 0.72 134MacLellan - Open Pit 2,110 1.86 126 2,236 1.24 89 4,347 1.54 215MacLellan - Underground - - - 1,161 4.37 163 1,161 4.37 163Gordon 9 1.72 0.47 451 1.96 28 460 1.95 29Burnt Timber - - - 1,021 1.40 46 1,021 1.40 46Linkwood - - - 984 1.16 37 984 1.17 37Total Lynn Lake 2,119 1.86 127 5,853 1.93 364 7,972 1.91 490Esperanza 19,226 1.01 622 15,126 0.95 462 34,352 0.98 1,083Ağı Dağı 553 0.44 8 34,334 0.46 510 34,887 0.46 518Kirazlı 118 0.50 2 5,848 0.43 80 5,966 0.43 82Çamyurt 513 1.00 16 17,208 0.89 492 17,721 0.89 508Total Turkey 1,184 0.68 26 57,390 0.59 1,082 58,574 0.59 1,108Quartz Mountain 214 0.95 7 11,942 0.87 333 12,156 0.87 339Alamos - Total 41,384 1.50 1,998 166,088 1.00 5,360 207,472 1.10 7,357

MEASURED AND INDICATED SILVER MINERAL RESOURCES (as at Dec 31, 2017)Measured Resources Indicated Resources Total Measured and Indicated

Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces(000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's) (000's) (g/t Ag) (000's)

La Yaqui Grande - - - 3,045 12 1,140 3,045 12 1,140MacLellan - Open Pit 2,110 5.34 362 2,236 4.24 305 4,347 4.77 667MacLellan - Underground - - - 1,161 6.23 233 1,161 6.23 233Esperanza 19,226 7.25 4,482 15,126 9.16 4,455 34,352 8.09 8,936Ağı Dağı 553 1.59 28 34,334 2.19 2,417 34,887 2.18 2,445Kirazli 118 2.73 10 5,848 2.17 408 5,966 2.18 418Çamyurt 513 5.63 93 17,208 6.15 3,404 17,721 6.14 3,497Alamos - Total 22,520 6.87 4,975 78,958 4.87 12,361 101,478 5.31 17,335

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2017 Total Inferred Mineral Resources

INFERRED GOLD MINERAL RESOURCES (as at Dec 31, 2017)Tonnes Grade Ounces(000's) (g/t Au) (000's)

Young-Davidson - Surface 31 0.99 1Young-Davidson - Underground 3,498 2.75 310Total Young-Davidson 3,528 2.74 311Island Gold 2,958 9.55 908Mulatos 8,804 0.92 261San Carlos UG 162 4.93 26La Yaqui 303 0.97 9Cerro Pelon 109 1.23 4Carricito 900 0.74 22Total Mulatos 10,278 0.97 322El Chanate 52 0.79 1MacLellan - Open Pit 750 1.62 39MacLellan - Underground 116 3.82 14Gordon 615 1.30 29Burnt Timber 23,438 1.04 781Linkwood 21,004 1.16 783Total Lynn Lake 45,923 1.11 1,646Esperanza 718 0.80 18Ağı Dağı 16,760 0.46 245Kirazlı 5,689 0.59 108Çamyurt 2,791 0.95 85Total Turkey 25,240 0.54 438Quartz Mountain 39,205 0.91 1,147Alamos - Total 127,903 1.17 4,791

INFERRED SILVER MINERAL RESOURCES (as at Dec 31, 2017)Tonnes Grade Ounces(000's) (g/t Ag) (000's)

La Yaqui Grande 303 5.80 57MacLellan - Open Pit 750 2.80 67MacLellan - Underground 116 3.43 13Esperanza 718 15.04 347Ağı Dağı 16,760 2.85 1,534Kirazlı 5,689 8.96 1,638Çamyurt 2,791 5.77 518Alamos - Total 27,126 4.79 4,174

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Notes to Mineral Reserve and Resource Estimates

Notes to Mineral Reserve and Resource Tables:

• The Company’s mineral reserves and mineral resource as at December 31, 2017 are classified in accordance with the Canadian Institute of Mining Metallurgy and Petroleum’s “CIM Standards on Mineral Resources and Reserves, Definition and Guidelines” as per Canadian Securities Administrator’s NI 43-101 requirements.

• Mineral resources are not mineral reserves and do not have demonstrated economic viability.

• Mineral resources are exclusive of mineral reserves.

• Mineral reserve cut-off grade for the Mulatos Mine, the Cerro Pelon Pit, the La Yaqui Pits, the Kirazlı Pit and the Ağı Dağı Pit are determined as a net of process value of $0.10 per tonne for each model block

• All Measured, Indicated and Inferred open pit mineral resources are pit constrained with the exception of those outside the Mulatos Main Pits on the Mulatos property which have no economic restrictions and are tabulated by gold cut-off grade.

• Mineral reserve estimates assumed a gold price of $1,250 per ounce and mineral resource estimates assumed a gold price of $1,400 per ounce. Metal prices, cut-off grades and metallurgical recoveries are set out in the table below.

• El Chanate reserve ounces include a December 31, 2017 inventory 80,300 recoverable ounces in the heap leach pad

Resources ReservesGold Price Cut-off Gold Price Cut-off Met Recovery

Mulatos:Mulatos Main Open Pit $1,400 0.5 $1,250 see notes >50%San Carlos Underground $1,400 2.5 $1,250 3.27 70%Cerro Pelon $1,400 0.5 $1,250 see notes 75%La Yaqui $1,400 0.5 $1,250 see notes 75%Carricito $1,400 0.3 n/a n/a n/a

Young-Davidson - Surface $1,400 0.5 $1,250 0.5 91%Young-Davidson - Underground $1,400 1.3 $1,250 1.9 91%Island Gold $1,400 4.0 $1,250 3.39-3.94 96.5%El Chanate $1,400 0.15 $1,250 0.15 30-65%Lynn Lake - MacLellan $1,400 0.42 $1,250 0.47 91-92%Lynn Lake - MacLellan Underground $1,400 2.0 n/a n/a n/aLynn Lake - Gordon $1,400 0.62 $1,250 0.69 89-94%Esperanza $1,400 0.4 n/a n/a 60-72%Ağı Dağı $1,400 0.2 $1,250 see notes 80%Kirazli $1,400 0.2 $1,250 see notes 81%Çamyurt $1,400 0.2 n/a n/a 78%

Quartz Mountain $1,400 0.21 Oxide,0.6 Sulfide

n/a n/a 65-80%

Resources

Jeffrey Volk, CPG, FAusIMM Director - Reserves and Resource, Alamos Gold Inc. Young-Davidson, El Chanate, San Carlos U/G, Lynn Lake

Raynald Vincent, P.Eng., M.G.P. Chief Geologist - Island Gold Island Gold

Marc Jutras, P.Eng Principal, Ginto Consulting Inc. Mulatos Pits, Cerro Pelon, La Yaqui, Carricito, Esperanza, Ağı Dağı, Kirazlı, Çamyurt, Quartz Mountain

Reserves

Chris Bostwick, FAusIMM VP Technical Services, Alamos Gold Inc. Young-Davidson, El Chanate, San Carlos Underground, Lynn Lake

Leon LeBlanc, P.Eng Chief Engineer - Island Gold Island GoldHerb Welhener, SME-QP VP, Independent Mining Consultants Inc. Mulatos Pits, Cerro Pelon, La Yaqui, Ağı Dağı, Kirazlı

Qualified PersonsChris Bostwick, FAusIMM, Alamos Gold’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this presentation. Chris Bostwick is a Qualified Person within the meaning of Canadian Securities Administrator’s National Instrument 43-101 (“NI 43-101”). The Qualified Persons for the National Instrument 43-101 compliant mineral reserve and resource estimates are detailed in the following table.

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Scott K. Parsons, CFAVP, Investor Relations416.368.9932 x 5439

sparsons@alamosgold.com