Slide 1: 2014 Fourth Quarter and Full Year Results
2014 Fourth Quarter and Full Year Results February 19, 2015 TSX: IMG NYSE: IAG
Slide 2: Management Participants
Management Participants STEVE LETWIN President & CEO GORD STOTHART EVP & Chief Operating Officer CAROL BANDUCCI EVP & Chief Financial Officer CRAIG MACDOUGALL SVP, Exploration JEFFERY SNOW General Counsel and SVP Business Development BOB TAIT VP, Investor Relations 2
Slide 3: Cautionary Statement on Forward-Looking Information
Cautionary Statement on Forward-Looking Information All information included in this presentation, including any information as to the Company’s future financial or operating performance, and other statements that express management’s expectations or estimates of future performance, other than state
Slide 4: Opening Remarks
Opening Remarks #I1AMGOLD
Slide 5: Met / Exceeded 2014 Operating Targets
Met / Exceeded 2014 Operating Targets Produced 844,000 ounces of gold, within guidance Reduced all-in sustaining costs quarter-over-quarter › Q4’14 AISC1,2 – gold mines3 were $209/oz. lower than Q4’13 Full-year AISC of $1,101/oz., $49/oz. better than guidance 1 This is a non-GAAP measure. Refer
Slide 6: Cost Reductions Continued Through 2014
Cost Reductions Continued Through 2014 Gold Operations1 Cost Reductions 90 $85M $59M 80 25 11 13 70 Essakane Westwood 60 1 50 $M Rosebel 40 35 $62M 30 59 20 Includes sustainable savings 10 from 2013 Corporate restructuring in 2014 0 2014 2014 initiatives to improve Gold Operations Total 1 Corp
Slide 7: Disciplined Capital Allocation
Disciplined Capital Allocation 800 2015 CAPEX guidance down 29% from 2014 700 $669M 600 500 51% Guidance was $360M Development / $M 400 Expansion Sustaining 300 29% $325M $230M* 200 100 0 2013 2014 E 2015 Guidance * +/- 10% 7
Slide 8: Focused on Operational Excellence in 2014
Focused on Operational Excellence in 2014 Essakane Mine – 33% growth in production to 325k oz. Westwood – ramping up commercial production with 70k in first 6 mos Rosebel – Steady grade improvement in H2 drives production to 325k oz. 8
Slide 9: Exploration Success
Exploration Success Projects making excellent traction with positive, high-grade drill results and resource upgrades 9
Slide 10: Strong Cash Position
Strong Cash Position $821 M 162 $321 M 659 162 159 As at December 31, 2014 Pro-forma as at December 31, 2014, including cash proceeds from sale of Niobec Cash & cash equivalents Gold bullion at market Cash & cash equivalents Gold bullion at market Financial capacity for investing in the profitable g
Slide 11: 2015 Production and Cost Guidance
2015 Production and Cost Guidance1 Guidance Rosebel (000s oz.) 290 – 300 Essakane (000s oz.) 360 – 370 gold production Attributable Westwood (000s oz.) 110 – 130 Total owner-operator production (000s oz.) 760 – 800 Joint ventures (000s oz.) 60 Total attributable production (000s oz.) 820 – 860 Total
Slide 12: Financial Review
Financial Review CORPORATION
Slide 13: Adjusted Net Earnings
Adjusted Net Earnings1 (In $ millions, except for per share amounts) Q4'13 Q4'14 2013 2014 Net losses including discontinued operations attributable to equity holders (840.3) (122.0) (832.5) (206.8) Impairment 888.1 - 888.1 - Changes in estimates of asset retirement obligations at closed sites 4.7 3
Slide 14: Revenues
Revenues1 Revenue 2013 Change 2014 Impact Gold Price2 1,399 (10%) 1,259 ($103.7M) 1,007.9 ($/oz.) 947.5 Gold Sales3 Owner-Operator 671 18% 793 $163.3M (000s oz.) Year-over-year Change in Gold Sales3 by Site $millions (000s oz.) 305.3 2013 2014 Change 279.3 Essakane 270 363 93 Westwood - 65 65 Rosebe
Slide 15: Cost of Gold Sales
Cost of Gold Sales ($ Millions) 2013 2014 Variance Due to • Start-up of commercial production at Westwood • Increased throughput at Essakane Operating Costs 476.6 643.1 following mill expansion • Increased harder rock and lower capitalized stripping at Rosebel • Partially offset by Mouska closure •
Slide 16: Net Cash From Operating Activities
Net Cash From Operating Activities (In $ millions, except for per share amounts) Q4’13 Q4’14 2013 2014 $0.84 $0.81 per share Net cash from operating per share activities per consolidated 44.0 72.0 246.3 312.2 financial statements 317.3 305.6 Adjusting items from non-cash working capital items and no
Slide 17: Maintaining Strong Liquidity
Maintaining Strong Liquidity $1,321 500 $821 Unused credit $millions facility 162 Gold bullion at market 500 Cash & cash equivalents 659 162 159 As at December 31, 2014 Proforma with sale of Niobec as at December 31, 2014 The Company has $650 million of senior unsecured notes due October 2020. 17
Slide 18: 2014 Attributable Production Trend
2014 Attributable Production Trend1 300 250 7% 9% 241 200 20% 225 206 Improving Westwood in 000’s oz. grades at Mill expansion commercial Rosebel and 150 172 at Essakane production Essakane Grade 100 improvement and higher throughput at 50 Rosebel 0 Q1 Q2 Q3 Q4 1 Attributable gold production include
Slide 19: Attributable Gold Production
Attributable Gold Production1 Due to AISC2 $1,222/oz. - gold mines3 $1,101/oz. › Essakane – higher grades and throughput +82,000 oz. › Westwood – commercial production (6mos) +70,000 oz. – pre-commercial production (63,000) oz. 835 844 Partially offset by 000s oz. › Mouska – closed operations in
Slide 20: All-In Sustaining Costs
All-In Sustaining Costs1,2 - gold mines3 Continue to Improve 1,400 All figures in $/oz. sold 1,273 1,286 1,288 1,272 1,201 1,200 1,230 1,186 1,124 1,115 1,000 1,021 800 600 400 200 ` 0 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 1 3 1 Total Cash Costs –gold mines Average Realized Gold Price 1 This is a
Slide 21: Exploration Review
Exploration Review IAMGOLD
Slide 22: 2014 Reserves and Resources
2014 Reserves and Resources1 As of December 31, 2014 2014 Change 2013 Gold (000s attributable oz. contained) Total proven and probable mineral reserves 8,608 (15%) 10,127 Total measured and indicated mineral resources 2,3 21,412 (9%) 23,408 Total inferred resources 7,018 11% 6,299 • Gold reserves we
Slide 23: Greenfield: Pitangui Project, Brazil
Greenfield: Pitangui Project, Brazil Infill drilling continues at Sâo Sebastiâo, 24,500m of diamond drilling completed in 2014 April 2014 –maiden inferred resource estimate of 0.64 Moz at 4.88 g/t Au June 2014 – confirmed continuity of known resource / identified new high-grade intersections i
Slide 24: Greenfield: Boto Gold Project, Senegal
Greenfield: Boto Gold Project, Senegal 2014 updated indicated resource grew to 1.2 Moz. at 1.7g/t Au from July 2013 initial indicated resource estimate of 1.1 Moz at 1.6 g/t Au › 2014 inferred resource grew by 550,000 oz. at 1.8 g/t Au February 2015 – final assay results continue to show Deposit
Slide 25: Joint Venture Project Update – Siribaya (Mali) with Merrex Gold Inc.
Joint Venture Project Update – Siribaya (Mali) with Merrex Gold Inc. Focus on Diakha prospect - extension of trend hosting Boto Fekola -B2Gold Gold deposit 3.9Moz @ 1.91 g/t Au* 2014 drill program confirmed gold Boto-Malikoundi mineralization with similar Mali 1.2Moz @ 1.7 g/t Au** characteristi
Slide 26: Joint Venture Project Update – Eastern Borosi
Joint Venture Project Update – Eastern Borosi (Nicaragua) with Calibre Mining 176km land package with 2 gold and silver 2 deposits and series of exploration targets Q3/14- Phase I drilling completed focused on 3 different vein systems, intercepted high- Bonanza E. Borosi Project grade mineraliza
Slide 27: Joint Venture Project Updates - Monster Lake
Joint Venture Project Updates - Monster Lake (Quebec) with Tomagold Corporation Excellent location in Abitibi Greenstone belt High-grade intervals (25 to +30 g/t Au) from previous drilling 2014 diamond drilling program of Monster Lake 12.761m on tested targets along 4km of mineralized corridor
Slide 28: Operations Review
Operations Review £IAMGOLD
Slide 29: Westwood Ramping Up – Canada
Westwood Ramping Up – Canada 40 1000 High-grade, low-cost underground gold mine with an estimated 20 year mine life 35 30 800 › Avg. resource grade ~10g/t Au 25 Commercial production July 1, 2014 (000s oz.) 600 20 35 35 › 70,000k oz. first 6 months at cash 15 400 costs of $822/oz. and AISC of 10
Slide 30: Improving Performance at Rosebel - Suriname
Improving Performance at Rosebel - Suriname 100 1000 Multiple open-pit mine with diminishing supply of soft rock 80 94 800 80 83 2014 performance– 325,000 oz. produced at total (000s oz.) 60 68 600 cash costs of $804/oz. and AISC of $1,045/oz. ($/oz.) 40 400 Improving trend in grades 20 200 ›
Slide 31: Optimizing Performance at Essakane – Burkina Faso
Optimizing Performance at Essakane – Burkina Faso 100 1000 Open-pit mine in 4th year of production › Remaining LOM of 10 years 80 92 89 800 83 Mill expansion completed in 2013 to accommodate 60 68 600 increasing proportion of hard rock (000s oz.) ($/oz.) 40 400 Total cash costs reflect harder
Slide 32: Revitalization Strategy for Sadiola – Mali
Revitalization Strategy for Sadiola – Mali 30 1200 25 1000 20 24 800 Open-pit mine in operation for 20 years (000s oz.) 19 20 Transitioning to hard rock ($/oz.) 15 21 600 10 400 Continuing to look for additional oxide reserves 5 200 Existing plant not built for hard rock 0 0 2014 productio
Slide 33: Niobec
Niobec 2 25 2014 production of 5.6 Mkg, driven by improved grades 20 and recoveries 1.5 1.4 1.5 15 Operating margins positively impacted from strong USD 1 1.3 1.4 relative to CAD 0.5 10 Niobec contributed positive cash flow throughout 2014 5 and the first three weeks 2015 0 0 January 22, 201
Slide 34: Closing Remarks
Closing Remarks #I1AMGOLD
Slide 35: Investor Relations
Investor Relations info@iamgold.com Bob Tait Laura Young Penelope Talbot-Kelly VP, Investor Relations Director, Investor Relations Analyst, Investor Relations T: 416-360-4743 T: 416-933-4952 T: 416-933-4738 TSX: IMG NYSE: IAG