Slide 1: Third Quarter 2021 Results
THIRD QUARTER 2021 RESULTS Plant construction at the Côté Gold Project, Canada Third Quarter 2021 Results November 4, 2021 – Conference Call TSX: IMG l NYSE: IAG www.iamgold.com
Slide 2: Management Participants
THIRD QUARTER 2021 RESULTS Management Participants TIM BRADBURN GORDON STOTHART Senior Vice President, General Counsel President & Chief Executive Officer and Corporate Secretary DANIELLA DIMITROV GRAEME JENNINGS Executive Vice President & Vice President, Investor Relations & Chief Financial Officer
Slide 3: Cautionary Statement
THIRD QUARTER 2021 RESULTS Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This presentation contains statements which constitute forward-looking information or forward-looking statements within the meaning of applicable securities laws (collectively referred to herei
Slide 4: Technical Information and Qualified Persons
THIRD QUARTER 2021 RESULTS Technical Information and Qualified Persons QUALIFIED PERSON AND TECHNICAL INFORMATION The technical and scientific information relating to exploration activities disclosed in this document was prepared under the supervision of and verified and reviewed by Craig MacDougall
Slide 5: Third Quarter and YTD 2021 Highlights
THIRD QUARTER 2021 RESULTS Third Quarter and YTD 2021 Highlights SUMMARY OPERATING RESULTS & OUTLOOK • Attributable production in Q3 of 153,000 ounces and 448,000 ounces Q3 YTD 2021 YTD 2021: unit 2021 2021 Guidance • Essakane continued to perform well, benefiting from increased Essakane (90%) koz 1
Slide 6: Q3 2021 Overview
THIRD QUARTER 2021 RESULTS Q3 2021 Overview ~$748 million in cash and ~$1.2 billion in total liquidity1 Mine-site FCF $31.9 million / Adjusted net loss $20.1 million or $(0.04) per share Corporate Commitment to reach net negative GHG emissions by 2050 & Strategic Appointed two new independent direct
Slide 7: Environmental, Social and Governance (ESG)
THIRD QUARTER 2021 RESULTS Environmental, Social and Governance (ESG) 1 2 Since 2007 RECENT HIGHLIGHTS • Committed to achieve net negative emissions by no later than 2050 and net positive Zero Harm® is our commitment to continually strive to reach the highest standards in human health & biodiversity
Slide 8: COVID-19 Protocols Embedded in Our Operations and Projects
THIRD QUARTER 2021 RESULTS COVID-19 Protocols Embedded in Our Operations and Projects • Previously implemented COVID-19 protocols remain in place at our sites; • Essakane – COVID-19 situation remains stable at site; • ~60% of workforce vaccinated; • Rosebel – COVID-19 situation remains fragile in Su
Slide 9: Focus on Safety: Outperforming Global Targets
THIRD QUARTER 2021 RESULTS Focus on Safety: Outperforming Global Targets Côté Gold has achieved over 2.9 million hours and 1,100 days without a lost time injury since October 2018 Days Away, Restricted or Transferred Duty (DART)1 Total Recordable Injuries (TRI)1 DART 2021 TARGET: 1.44 0.66 TRI 2021
Slide 10: Operations
THIRD QUARTER 2021 RESULTS Operations 10
Slide 11: Essakane: Strong Anchor Asset Continues to Perform
THIRD QUARTER 2021 RESULTS Essakane: Strong Anchor Asset Continues to Perform Burkina Faso (90% ownership) SUMMARY Key Operating Statistics Q3 2021 YTD 2021 • Attributable production of 106,000 ounces in line with Q2, as increased throughput and (100% basis, unless otherwise stated) improved recover
Slide 12: Rosebel: Operations Improving; Challenged Conditions Remain
THIRD QUARTER 2021 RESULTS Rosebel: Operations Improving; Challenged Conditions Remain Suriname (95% Rosebel | 66.5% Saramacca1) SUMMARY Key Operating Statistics Q3 2021 YTD 2021 • Attributable production of 40,000 ounces 60% higher than Q2, primarily due to higher (100% basis, unless otherwise stat
Slide 13: Westwood: Focus on Safety
THIRD QUARTER 2021 RESULTS Westwood: Focus on Safety Québec, Canada (100% ownership) SUMMARY Key Operating Statistics Q3 2021 YTD 2021 • Gold production of 7,000 ounces 13% lower than in Q2, primarily due to lower (100% basis, unless otherwise stated) throughput, partially offset by higher grade; Or
Slide 14: Construction Update
THIRD QUARTER 2021 RESULTS Construction Update Building a Transformational Tier 1 Gold Asset in Canada 14
Slide 15: Construction on Schedule: Q3 2021 Update
THIRD QUARTER 2021 RESULTS Construction on Schedule: Q3 2021 Update1 ~36% ~85% $265M $368M $860 – $910M project completion detailed engineering expended (July 2020+) incurred (July 2020+) remaining costs estimate2 SUMMARY • Earthworks activities advanced, including ongoing haul roads construction, w
Slide 16: Côté Gold: Operating Metrics
THIRD QUARTER 2021 RESULTS Côté Gold: Operating Metrics1 SUMMARY Key Project Metrics (100% basis) July 2020 2021 Technical • Technical report reconfirms Côté Gold as a robust, tier 1, low- Metric (on a 100% basis) units Update2 Report2 cost, and long-life asset; Gold price | USDCAD assumption $/oz |
Slide 17: Côté Gold: Project Timeline
THIRD QUARTER 2021 RESULTS Côté Gold: Project Timeline 2020 2021 2022 2023 2024 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Project Completion ~36% Project Costs1 $265M $150M $590 – $620M $120 – $140M Remaining Estimated Allocation of Total Expenditures PROJECT TIMELINE Construction Approv
Slide 18: Côté Gold: Construction Progress
THIRD QUARTER 2021 RESULTS Côté Gold: Construction Progress A virtual 360° tour of the Côté site is accessible here PLANT SITE FOUNDATIONS CLAM LAKE DAM EARTHWORKS TEMPORARY POND & SUPPORT BUILDINGS PADS CAMP SITE 18
Slide 19: Development and Exploration Projects
THIRD QUARTER 2021 RESULTS Development and Exploration Projects 19
Slide 20: Gosselin 2021 Initial Resource Estimate
THIRD QUARTER 2021 RESULTS Gosselin 2021 Initial Resource Estimate1 HIGHLIGHTS Côté Gold Project – Mineral Reserves & Resources (2021)2,3 • Gosselin zone adjoins the Côté Gold deposit immediately to IMG Attrib. the northeast offering significant potential to further expand Tonnes Grade Contained Cla
Slide 21: Gosselin and Côté Resources Proximity
THIRD QUARTER 2021 RESULTS Gosselin and Côté Resources Proximity 21
Slide 22: YTD 2021 Exploration Activities Update
THIRD QUARTER 2021 RESULTS YTD 2021 Exploration Activities Update ESSAKANE • ~7,000 metres of reverse circulation (“RC”) drilling planned in 2021 to evaluate the resource potential at select high-priority targets within trucking distance to the Essakane mill; • ~5,000 metres completed YTD 2021. ROSE
Slide 23: Financial Review
THIRD QUARTER 2021 RESULTS Financial Review Photo: Wärtsilä, Essakane Mine 23
Slide 24: Q3 2021 Financial Review
THIRD QUARTER 2021 RESULTS Q3 2021 Financial Review FINANCIAL PERFORMANCE YTD 2021 FINANCIAL RESULTS • Adj. EBITDA of $82.5 million from sales of 165,000 ounces (150,000 ounces attributable) at Q3 Q2 YTD an average price of $1,787/oz; (In $ millions, unless otherwise stated) 2021 2021 2021 • Adj. ne
Slide 25: Q3 2021 Cash Flow
THIRD QUARTER 2021 RESULTS Q3 2021 Cash Flow KEY HIGHLIGHTS Operating activities ($1.1) ($3.7) • Cash generated from operating activities ($88.6 million), +$79.6 partially offset by income tax paid ($9.5 million). ($138.7) Working capital • Increase in inventories / stockpiles ($13.0 million) pr
Slide 26: Financial Position
THIRD QUARTER 2021 RESULTS Financial Position $500 million NET CASH Undrawn Credit Facility1 Q3 Q2 Q1 (In $ Millions) 2021 2021 2021 Cash, equivalents & STI $748.3 $829.8 $967.8 Lease liabilities & equipment loans3 ($83.0) ($85.7) ($89.0) Long term debt4 ($450.0) ($450.0) ($450.0) $1.2B Revolving cr
Slide 27: 2021 Progress
THIRD QUARTER 2021 RESULTS 2021 Progress1 Updated Target Progress Essakane Completion of mill optimization project Q1 2021 Completed Rosebel Completion of Saramacca non-critical infrastructure H1 2022 Ongoing Westwood Westwood underground re-start2 H2 2021 Ongoing Start of major earthworks Q2 2021 S
Slide 28: Appendix
THIRD QUARTER 2021 RESULTS Appendix 28
Slide 29: Q3 2021 Operating Highlights
THIRD QUARTER 2021 RESULTS Q3 2021 Operating Highlights Attributable Capital Production Cash Costs1 AISC1 Expenditures2 (000s oz) ($/oz sold) ($/oz sold) ($ millions, 100%) Essakane (90%) 106 $878 $1,033 $38.8 Rosebel (95%) 40 $1,796 $2,156 $23.6 Westwood (100%) 7 $3,482 $4,087 $4.6 Project Expansio
Slide 30: Reducing Input Exposure Through Hedging
THIRD QUARTER 2021 RESULTS Reducing Input Exposure Through Hedging 2021 2022 2023 2024 Foreign Currency Canadian dollar contracts1 (millions of C$) 78 612 185 120 Rate range1 (USDCAD) 1.28 – 1.47 1.28 – 1.48 1.30 – 1.46 1.32 Hedge ratio2 43% 58% 33% 16% Commodities3 Brent oil contracts (barrels, 000
Slide 31: Investor Relations Contacts
THIRD QUARTER 2021 RESULTS Graeme Jennings, VP, Investor Relations & Corporate Communications 416-388-6883 Philip Rabenok, Manager, Investor Relations 647-967-9942